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This was announced by MTN’s Corporate Services Executive, Akinwale Goodluck, while speaking at a capacity building seminar in Nigeria.
“We are supportive of any initiative that brings financial inclusion to the masses and the Central Bank’s efforts in this regard are highly commendable,” said Goodluck.
He continued by saying that the bank-led model possesses numerous advantages, including bringing money transfer services to the millions of Nigerians living in the rural areas.
65 percent of Nigerians do not have access to formal financial services.
He also added that the new partnership between the banks and the telecommunication companies is a winning arrangement as both sides stand to benefit from each other’s expertise.
“The current partnership between banks and telcos in the mobile money space leverages available cutting edge ICT technology offered by telcos and best practice payment protocols and expertise supervised by the CBN,” he said.
“As the leading ICT Company, MTN’s greatest responsibility to our customers and to Nigeria is to provide world class quality of service in order to support a multitude of products and services,” Goodluck concluded.
Nigeria is MTN’s largest market in Africa subscriber-wise, with over 43 million subscribers in the country alone.