Wednesday, December 7, 2022
MARKET UPDATE
Advertisement

TheCable

Advertisement
Cable Ads

Nearly 9 in 10 Nigerians don’t have bank accounts

May 08
19:40 2014

Less than 20 million Nigerians operate bank accounts, the Central Bank of Nigeria (CBN) revealed on Thursday.

This means that more than 150 million Nigerians do not have a bank account.

“In Nigeria, there are over 100 million mobile phones available to serve customers,” Head of CBN Shared Services, Mr. Aaron Yaduma said during a cashless policy sensitisation programme in Yola, Adamawa State.

“Meanwhile there are less than 6,000 bank branches, 10,000 Automated Teller Machines (ATM), as well as 200,000 point of sale terminals (POSs), and less than 20 million bank accounts in the country.”

Advertisement

Yaduma, also disclosed that mobile phone is the cheapest electronic channel for transactions, and urged its users to strengthen the CBN Cashless policy.

He identified Mobile Money, which entails the use of mobile phones as a banking tool both for the banked and the unbanked, as a major focus for financial inclusion.

 

Advertisement

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment