Nigerian mobile money subscribers
Photo credit: guardian.ng

Nigerian mobile money subscribers hit 9.25 million in 6 months:

The number of subscribers to the 23 Mobile Money Operators (MMOs) in Nigeria was 9.25million as at the first half of this year, Alhaji Umaru Ibrahim, managing director and chief executive of the Nigeria Deposit Insurance Corporation (NDIC), has revealed. He said this at the 16th edition of the workshop for Business editors and members of the Finance Correspondents Association of Nigeria (FICAN), recently in Yola, Adamawa State.

His words, “In 2010, the maximum Deposit Insurance coverage was increased from N200,000 and N100,000 to N500,000 and N200,000 for Deposit Money Banks (DMBs) and Microfinance Banks (MFBs)/Primary Mortgage Banks (PMBs), respectively. The coverage level for the PMBs was later reviewed upward to N500, 000.”

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David Folami is from Nigeria, Ogun State to be precise. He is a tech lover and an upcoming musician. He works as a content writer for JBKlutse where he covers technology and lifestyle news. He adores a productive time online.

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