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Nigeria Softens Rules Shielding Banks From Wireless Rivals
LAGOS (Capital Markets in Africa) – Nigeria is preparing rules that will allow wireless carriers to transfer cash, softening a previous policy that protected the turf of banks in Africa’s most populous country. The central bank may have realized it can’t rely on lenders alone to achieve its objective of extending services to the 50 million adults still without a bank account in the nation of about 200 million people. Telecommunications firms, including South Africa’s MTN…
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