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Bullion

Keywords

Financial inclusion, Agent banking, Payment system, Mobile payment operator (MMO)

Abstract

Agent banking and Mobile payments, especially in developing economies are rapidly evolving and having tremendous impact on the economies and lives of its citizenry. In addition to reducing costs, these new service offering channel help to encourage customers to use financial services more often, as locations are close by and in places where the customers are familiar with. In light of the afore-mentioned, the Central Bank of Nigeria noted the rapid growth of mobile telephony and the need to leverage existing business network infrastructure as a practical and well thought-out strategy for driving financial inclusion of the unbanked in Nigeria.

Author Bio

The author Dipo Fatokun is a Director of Banking and Payments System Department, Central Bank of Nigeria

Publication Title

CBN Bullion

Issue

3 - 1

Volume

36 - 37

Included in

Finance Commons

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