Mobile money is one of the alternative means of payment, that the banks and acquirers have deployed and implemented.
The total cumulative transactions by the operators of the mobile payment in the last year are well above N64 billion, and more than 60 per cent of this amount was recorded in the last three months, the Central Bank of Nigeria (CBN) has said.
Mobile money is one of the alternative means of payment, that the banks and acquirers have deployed and implemented. Other means for e-payments include Point of Sale (PoS) terminals, Automated Teller Machine (ATM) and the web.
Read also: 10 insurance firms submit 2012 accounts ahead of June 30 deadline
Tunde Lemo, deputy governor, operations, who was represented by Dipo Fatokun, director, banking and payments system department, CBN, at a conference organized by DENovo and Reach Legal in Lagos, said the CBN has licensed about 18 mobile payment operators to offer payment services via the mobile phone. This will also help promote financial inclusion and by extension, make the nation a cashless one.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
