September 28, 2022

70 Million Mobile Owners In Nigeria Have No Bank Accounts: eTranzact

  • December 5, 2021
  • 2 min read
70 Million Mobile Owners In Nigeria Have No Bank Accounts: eTranzact

The company says only about 40 million Nigerians have active bank verification numbers.
About 70 million active mobile line owners in Nigeria do not have bank accounts, says the CEO of eTranzact International Plc., Niyi Toluwalope.
Mr Toluwalope disclosed this at the Capital Market Correspondents Association of Nigerian (CAMCAN) 2021 Annual Workshop held on Saturday in Lagos.
The eTranzact boss said that 150 million of Nigeria’s 200 million population owned mobile phone lines, 110 million owned 150 million mobile phone lines but only about 40 million had active bank verification numbers.
While speaking on the topic “Technology as a Tool for Financial Inclusion in Nigeria: A Fintech Approach,” Mr Toluwalope said there was a need to close the gap, especially as regards small and medium enterprises.
He said that financial inclusion was important to the capital market industry, stating that it is an important component for enabling growth and “the informal sector participation in the capital market.”
He added that for financial inclusion to thrive, the sector would need the collaboration of players in the private and public sectors, noting that the Central Bank of Nigeria, as well the Securities and Exchange Commission had taken several steps to drive financial inclusion.
The workshop had a panel session during which representatives of the Nigerian Exchange Ltd., FMDQ Exchange, SEC and stockbrokers, pledged to fashion out ways to tackle Ponzi scheme activities.
The workshop was sponsored by Flour Mills of Nigeria, United Bank for Africa, Access Bank, Zenith Bank, NGX, FMDQ and SEC, among other organisations.

Ohanaeze Ndigbo youths also demanded that they be given a level playing field, and empowered economically like their counterparts in other part of the country.

The suspect confessed to having accepted the offer to traffic the drug for which he would be paid €1,500 after successfully delivering the consignment to someone in Spain.

The government announced in a letter to the school that all academic activities, including online classes and examinations are to be shut down.

“The suspect will be arraigned in court after completion of the ‘Orderly Room’ trial,” the police spokesperson said.

The raids, which was carried out across nine states and at the Murtala Muhammed International Airport (MMIA), Lagos, yielded 5,721.92 kilogrammes of Indian hemp and other drugs.

“The aim is to send a strong message to the world that beauty does not lie in nude dressing.

Source: Peoples Gazette

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