Nigerian mobile banking insurance coming
VALUE ADDED SERVICES| July 22, 2012, 9:52 a.m.
The Central Bank of Nigeria (CBN) is partnering with the Nigerian Deposit Insurance Corporation (NDIC) to provide insurance cover for mobile banking.
The regulators are looking to a trustee arrangement to provide insurance cover for mobile banking and potential losses incurred during these transactions.
Nigeria now has 15 companies offering mobile payment solutions.
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