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Nigerian cash crisis a boon for MTN and other mobile-money players | Business

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Rich countries should stop throwing up roadblocks to poorer ones trying to secure energy supplies and do more to help them make the green transition, officials from Global South nations told the India Energy Week conference on Tuesday. | News24_Business

In the two months since October, when the Central Bank of Nigeria said it will replace 200-, 500- and 1,000-naira notes with new ones, the value of mobile-money transactions has jumped by a quarter to 2.5 trillion naira , according to the Nigeria Inter-Bank Settlement System Plc. Fintech firms are positioning for a sustained increase in demand.

Mobile-money firms are best placed to benefit from the disruption. Just 40% of Nigerians have access to bank accounts, compared with mobile-phone penetration of 117% in the country, giving them the opportunity to expand rapidly. The trend in Africa’s most-populous nation mirrors the growth in India, which demonetised most of its currency in late 2016 and has seen a surge in digital transactions.

 

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_Business They have had many years to practice good governance but alas they don't. Governments should be held accountable worldwide for shitty governance!

_Business 🤣🤣🤣🤣but you guys have been saying you hate the west for colonizing us this entire time?!🤣🤣🤣 now they should help you... so the government should work and earn nothing themselves and steal trillions and get away with it and ask for help when a is gone.

_Business I tell you what .. why don’t you stop sucking up to tyrants like Putin and then hold out the bowl to the west

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