It is no longer news that the Central Bank of Nigeria (CBN) has blocked money transfer operators from making transfers to Nigeria.

It is no longer news that the Central Bank of Nigeria (CBN) has blocked money transfer operators from making transfers to Nigeria. Through the new policy, the CBN excluded a number of operators and only allowed for three companies – Western Union, MoneyGram and Ria to remain in the business. Experts had predicted this outcome as the CBN last year tightened the conditions on mobile money transfers, requiring operators to be operational in 20 countries, have a net worth of…

How to grow Mobile Money – Fortis Mobile Money

(1) Mobile money contribution may be small compared to current Mobile Network Operator (MNO) total revenue but could be important for future revenue growth. We believe few operators will ever meet the high expectations they have for mobile money. 80% of respondents to our survey last year expected mobile money to comprise 10% of total MNO revenue within five years of launch. 10% is small but we don’t think it is something to sneeze at. For a number of mobile…

Don’t lend Nigeria money,’ Governor writes Chinese govt.

Governor Ayodele Fayose of Ekiti State has reportedly asked the Chinese government not to borrow Nigeria $2 billion being sought by President Muhammadu Buhari. Fayose, who travelled to China on Wednesday, April 13, to attend the 119th China Import and Export Fair, otherwise known as the Canton Fair holding between April 14 and 19, three days after the President left for the country to secure a low interest loan. In a letter written to the Chinese authority and dated April…