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The Nigerian Communications Commission NCC, has signed a Memorandum of Understanding with the Central Bank of Nigeria to enable digital mobile operators incorporate Special Purpose Vehicles to offer mobile money services.
The Executive Vice Chairman, NCC, Prof. Umaru Danbatta, stated this while hosting the United Nations Secretary General’s Special Advocate for Financial Inclusion for Development, Queen Maxima of the Netherlands, in Abuja on Wednesday.
Danbatta said a joint technical committee raised by the NCC and the CBN was also addressing the modalities that would enable mobile operators to register SPVs through which they would be become mobile money operators.
He stated, “The National Financial Inclusion Strategy sets out milestones and targets to be met to reduce the percentage of financially excluded adult population in Nigeria to 20 per cent by the year 2020. “However, it is evident from statistics that decisive steps need to be taken to address financial inclusion in Nigeria.
Photo Caption: Executive Vice Chairman, NCC, Prof. Umaru Danbatta
