The Central Bank of Nigeria, CBN, has pegged monthly value of mobile money transactions in the nation at N40 billion.
CBN Deputy Governor, Operations, Suleiman Barau, who disclosed this at the maiden edition of the Electronic Payment Financial Incentives Scheme (EFIS) Efficiency Award, said mobile money is where the future of banking lies.
Barau called on banks and other stakeholders to ensure that the e-payment space is deepen.
He said the EPIS award would create healthy competition among banks and add more value to customer.
He said the mergence of Guaranty Trust Bank Plc (GTbank) as the overall winner is a welcome development that should stimulate healthy competition in the industry.
He also lauded the performance of Zenith Bank Plc adding that both lenders have done exceptionally well in the e-payment space.
