Nigeria’s Central Bank, in Bid to Help Nation’s Underbanked, Takes Measure to Boost Payment Firms
Karma
“Nigeria’s central bank is planning to issue licenses to more payment providers, aiming to “improve the country’s financial-inclusion rate to 80% by the end of next year from about 60%,” Bloomberg reports . Central Bank of Nigeria Governor Godwin Emefiele spoke in Abuja last week, promising the new licenses “will help support innovation and competition as all parties work to increase their customer base.” “Nigerians in underserved locations will have access to cost effective payment services, cash-in and cash-out facilities, and savings products,” he said.”