The Central Bank of Nigeria recently granted approval in principle to MTN Nigeria and Airtel Africa to operate payment service banks (PSBs), with final approval to follow in six months, subject to specific requirements.
Mobile money services are regarded as powerful tool for deepening financial access in developing markets, as it expand financial inclusion through lower transaction costs, improved rural access and greater customer convenience, Groupe Spécial Mobile Association (GSMA) has therefore recommended regu
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