MTN Backs Bank Led Mobile Money Model

> By funmi akintola

MTN has expressed its support for the Central Bank of Nigeria's (CBN) bank- led mobile money model, saying that the model has many merits and that it's full implementation would achieve the CBN's stated objective to extend money transfer services to millions of Nigerians who are currently underserved.

 
Akinwale Goodluck, Corporate Services executive at MTN said that “We are supportive of any initiative that brings financial inclusion to the masses and the Central Bank's efforts in this regard are highly commendable”. Explaining the details of the CBN's bank led model, he observed that the partnership between licensed organizations and telecommunications companies, is a winning combination.

He said: “The current partnership between banks and telcos in the mobile money space leverages available cutting edge ICT technology offered by telcos and best practice payment protocols  and expertise supervised by the CBN.”

He noted that MTN as the leading ICT company has the greatest responsibility to its customers and to Nigeria to provide world class quality of service in order to support a multitude of products and services.

He remarked ' the world today is heavily dependent on ICT. Our future success as a company depends on how well we support services like mobile money'.

It would be recalled that the CBN recently licensed a number of financial institutions to carry out mobile money services with the objective of providing easy money transfer services using mobile phones and enhance financial inclusion particularly in rural areas.