By Yemisi Izuora-Katsina
The Central Bank of Nigeria (CBN) has disclosed that the country’s mobile financial transactions had exceeded US$2 billion and that a total of 15 million transactions have been made since the inception of the mobile banking scheme in 2012 with 58 million subscribers while the total value of the transactions till date is N430 billion (over US$2 billion).
CBN Head of Payment System Policy and Oversight Division of Banking and Payments Department, Musa Itopa-Jimoh who made this disclosure while speaking at the 2014 workshop organised by the Nigeria Deposit Insurance Corporation (NDIC) for finance correspondents and Business Editors in Katsina attributed the success efforts of over 78,000 agents and 21 licensed mobile money operators in the country.
He also expressed the readiness of the CBN in promoting the safety and effectiveness of mobile payments services in Nigeria.
“We take our oversight responsibility seriously to ensure that deposits in the mobile payments system are safe and transactions are securely executed,” he said.