ITNewsAfrica carries the news that “the Central Bank of Nigeria has ordered telecommunications companies in the country to begin offering mobile money transfer services“.
While the CBN is in a position to auuthorise money transfer services, we are not quite sure that the CBN is in a position to “order” operators to do it, as the operators are not banks or financial institutions under the supervision of the apex bank.
However, if the road is now indeed clear for telecoms operators to offer money transfer on their networks, we are glad that the CBN has finally woken up from a deep slumber. If we want mobile money to succeed in Nigeria, the operators are key.
We will bring you more details as this unfolds.