According to the source, a CBN representative speaking at a recent banking seminar has indicated that in Nigeria, unlike other African countries, there is a lack of synergy between mobile operators and banks, with the central bank not having enough supervisory power over the telecoms to grant them mobile money licenses.
This contrasts with the mobile financial services landscape in other African countries – such as Kenya - where telecoms have been in the lead for a number of successful mobile money initiatives that have promoted and supported financial inclusion among the unbanked and underbanked population.
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