Following CBN’s new money transfer policy, popular Nigerian comedian, Basketmouth has aired his thoughts.
CBN yesterday, August 4, 2016 stopped all privately owned money transfer companies from wiring money, leaving only three foreign owned companies to do it. Basketmouth however thinks it is a wrong move and will make life more difficult for Nigerians.
He took to Instagram yesterday, August 4, 2016 writing, “In recent times, online money transfer platforms have sprung up worldwide as telecommunications and the internet have revolutionised the banking and financial industries. “Online banking” and “mobile money” are now everyday phrases while Billionaire investors such as Sir Richard Branson are now putting their money in online money transfer businesses. Against this backdrop, our very own dear CBN has now decided that for us in “naija”, it’s back to the “old school” as far as money transfer is concerned. In saner climes, financial regulation authorities would have started investigating this latest decision to grant only 3 companies the rights to operate in a market with more than 150million customers, but na naija so anything goes I guess.
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