Director, Banking and Payment
Systems Department (CBN), Dipo Fatokun said the country has recorded a total
transaction of ₦700 billion through the mobile money banking system since 2012.
Fatokun, made the statement in a
presentation at a workshop on “Mobile Money and Emerging Payment System
Masterclass” to lawyers.
Fatokun, who was represented by a
Deputy Director in the department, Jimoh Itopa, said the apex bank had licensed
23 mobile money operators in the country.
He said the operators currently
conducted transactions valued at about ₦30 million monthly.
According to him, even though the
money is sitting in one account, it represents the deposits of various subscribers.
“This will recognise the
contributors to that pool, that every single individual who has contributed in
that pool will be recognised and compensated in the event that the bank is
liquidated.
Source: BusinessDay
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