Nigeria’s Diaspora Remittances Rise To $5.16bn In Q1, 2022 - CBN   Nigeria’s diaspora remittances continued its upward trend in the first quarter of the year, Q1’22, rising by 20.3 per cent, Year-on-Year, YoY, to $5.16 billion from $4.29 billion in the same period of last...

CBN Fixes N2bn Capital For Mobile Money Operators           Mobile Money Operators (MMOs) are to maintain a minimum of N2 billion capital base, the Central Bank of Nigeria (CBN) has directed in a circular signed by its Director, Payments System Management Department, Musa Jimoh. They have also...

Financial Inclusion: 15 Mobile Money Operators Gets CBN's Licenses   The Central Bank of Nigeria has issued licences to 15 mobile money operators as part of its drive towards increasing financial inclusion. To further address the observed absence of a widespread agent network, and concentration of agents...

NDIC Extends Maximum Insurance Coverage To MMO Subscribers   The Nigeria Deposit Insurance Corporation has extended its insurance coverage to subscribers of Mobile Money Operators to the maximum limit of N500,000. The Managing Director/ Chief Executive Officer, NDIC, Umaru Ibrahim, disclosed this during the NDIC’s special day...