Central Banking

Nigeria to launch new mobile payments system

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Nigeria is set to launch a new mobile phone payment system that will provide banking services to millions of people without bank accounts.

Monitise, a mobile money firm, on Friday said it had been granted a provisional licence by the Central Bank of Nigeria to introduce the payments system for mobile phones in the country.

Until now access to mobile banking services in Nigeria has been limited to people with both bank accounts and mobile phones with internet services. However, under the new syst

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