Operators Want Telco-Led Mobile Money Initiative in Nigeria

Thursday, October 6, 2016

Telecommunications service providers have renewed clamour to lead mobile money initiative in Nigeria on the basis that the current model has not been impactful on the economy.

Current status showed that mobile money is still majorly bank-led in the country, as the operators championing the revolution are from the financial sector.

Telecommunication companies have been restricted to providing the infrastructure for mobile money, through which bank services can be offered. This has proved less attractive to the telecommunication companies in the country.

According to the Chief Executive Officer (CEO) of Airtel Nigeria, Segun Ogunsanya, mobile money services have refused to pick up considerably well in Nigeria because the telecommunications operators have not been allowed to champion it.

Source: TODAY (link opens in a new window)

fintech, telecommunications