CBN Revokes Licenses of Dormant Mobile Money Operators

 The Central Bank of Nigeria has commenced the process of revoking licences of dormant mobile money operators, Punch reports.
The apex bank took the decision due to the urgent need to review mobile money services and seek ways to improve on them.

The CBN is worried that mobile money services in Nigeria have yet to achieve 30 per cent growth since 2012 despite licensing over 18 mobile payment services providers.