21 Mobile Money Operators (MMO) secures operating licenses

THE Central Bank of Nigeria, CBN, has granted licenses to 21 Mobile Money Operators (MMOs) in Nigeria which comprise 15 non-bank operators and 6 bank operators that have been carrying out commercial operations at January 2013 to date.
This was disclosed by the Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC) Alhaji Umaru Ibrahim during the NDIC special day at the ongoing Kano International Trade Fair 2015 tagged ‘Improving Products Quality and Packaging to Ensure Competitiveness for the Attainment of Sustainable Economic Growth’.
Ibrahim said the apex bank has issued a regulatory framework for mobile payment services in Nigeria ,adding that apart from the 21 registered MMOs another set of 8 MMOs are currently in different stages of pilot run before final licensing.
The CEO of NDIC who was represented by NDIC zonal office Kano Mr. Kabiru Suleiman Oniyangi also warned the general public on patronizing wonder banks that offer extra-ordinary interest rates on deposits or investment only to disappear after they have made collection of such deposits.
He further revealed that the corporation has established a 24 hour help desk with a toll-free telephone line.