The National President, Association of Mobile Money and Bank Agents in Nigeria, Victor Olojo, has said the Central Bank of Nigeria is set to clampdown on illegal Point of Sales operators in the country.
“Although, more agents are needed in the rural areas than in the city and urban centers. We still expect more upward growth, because fintechs are still coming up too.”
“So yes, the cashless policy is a major factor why we have an increase in the number of agents,” he said. He said, “As regards charges, the CBN is currently working out a plan for mobile money and agents to have access to funds. This is to those that are credible, those that are properly registered. The five per cent or three per cent that applies to people that are taking more than is required from the banks may not apply to mobile agents.
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