The Central Bank of
Director of Banking and Payment Services of CBN, Mr.
According to Fatokun, the value of financial transactions carried out using point of sales (PoS) terminals also rose from N57.3 billion in 2012 to N138 billion as at
He however lamented a situation where up to 46 per cent of the adult population in the country does not have access to financial services. However, Fatokun pointed out that the launch of the Glo Mobile Money would provide out-of-bank financial services to Nigerians that are without access. Fatokun commended Globacom for the initiative, which he said would help deepen the cashless policy of the CBN.
Globacom collaborated with
According to Fatokun, the licensing of mobile money agents and banks in 2010 by the CBN has helped immensely to drive cashless transactions and financial inclusion in the country.
Although he said so much had been achieved in driving cashless initiative in the country since 2010, he stressed that a lot still needed to be done. "
Giving details of how the Glo Exchange works, Head, Post Paid of Globacom, Mr.
The recipient, who could be some long distance away from the sender, will then go to another agent to cash the money.
Some of the partners that spoke at the event expressed confidence in the collaboration and assured Nigerians that Glo Mobile Money would revolutionise financial transactions in the country.
Executive Director of
On his part, the Executive Director of
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