The Central Bank of Nigeria (CBN) said on Tuesday in Katsina that mobile money operating companies recorded transactions worth over N430billion between 2012 and date.
Mr Musa Ibrahim, the Head, Payment System Policy and Oversight Division of Banking and Payments System Department, said this at Nigeria Deposit Insurance Corporation (NDIC)-sponsored workshop for newsmen.
“Recent Developments in the Nigerian Banking System” is the theme of the workshop.
According to Ibrahim, each of the operating mobile money operators records an average of N14million worth of transaction monthly.
He added that services were rendered to 15million subscribers.
He added that services were rendered to 15million subscribers.
He said that mobile money operators had about 780,000 agents that interfaced between subscribers and the mobile money operators.
The News Agency of Nigeria (NAN) reports that seven commercial banks were involved in mobile money operation.
Ibrahim said the CBN prevented Telecommunication Companies (TELCOS) from leading any of the mobile money scheme models.
Ibrahim said the exclusion was because the TELCOS are regulated by the Nigerian Communication Communications (NCC) and not CBN.
He also said that the TELCOs were excluded because they were not deposit money banks.
Read full story: Leadership.ng
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