Regulators tasked on effective enforcement of mobile money frameworks

The Association of Mobile Money and Bank Agents in Nigeria, AMMBAN, has called on licensed operators to effectively implement operational guidelines in the industry.

The association made the call at a press briefing in Lagos, while noting that effective implementation of the framework will check any irregularity in the industry.

National President, AMMBAN, Mr. Victor Olojo, said that unscrupulous elements and their activities are capable of derailing the laudable intentions of the government at ensuring poverty alleviation by deepening financial inclusion to the last mile.

According to Olojo, while we wholeheartedly agree that the effective enforcement of regulation guiding the industry is long overdue, we will also like to correct some wrong impressions expressed in the motion moved by Hon. Jimoh Olajide as published in some National dallies on March 3, 2022.

There are CBN guidelines regulating our business through Licensed Financial Operators already in existence. Mobile money and Agency banking are deliberate innovations of the government. The Creation was borne out of the goal to ensure all Nigerians of bankable age are financially included.”

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