Tag Archives: CBN

Telcos to the Mobile Money Rescue

The Central Bank recently relaxed the rule on Mobile Money (MM) participation by giving out telcos invite to the party. Yes it’s a party but then everyone’s gone home. Specifically telcos are now allowed to be Super Agents, which means they could use their thousands of retail touch points to serve MM customers. But unlike […]

What’s killing financial inclusion in Nigeria?

No scholar worth his salt would denigrate his study in the first line, or on any other line for that matter. However, listen carefully, take what I’m going to say below with a pinch of salt as it’s based on armchair projections. But then who cares? We are quite a lot in Nigeria, or so […]

Cashless Nigeria by Force, by Fire!

I was recently reviewing a CBN report on Cashless Nigeria and it is scary to know that 65% of Cash in Circulation is outside the banking system. I guess everything the CBN can do to cajole those who have ecstasy at the sight of cash wouldn’t work. Time we did it differently. What will happen if […]

Crashing the Cost of Banking: The Bitter Sweet Experience

The Central Bank (of Nigeria, if you really want to know) has been at the fore-front of financial inclusion, and oh, at the forefront of cashless economy. Obviously they decided to mash the two together. Kudos can be given to CBN for forcefully yanking our sorry backside from comfortable banking to make things really cashless. […]

Lagos Cashless Initiative; Strapped to a Whimpering Rocket

The Cashless Initiative should rocket the economy of Nigeria to greater heights. That was the plan. Picture the Nigerian economy precariously strapped to the back of a badass rocket standing ramrod straight in the sweltering sun. Yes, the sun in Lagos is something else. Then the CBN Governor steps forward gallantly to light the rocket […]