News

Mobile payments regulatory framework dissemination workshop
25 January 2010

As part of its mandate to facilitate the development of Innovative Inclusive Financial Services for the unbanked and under-banked in Nigeria, Enhancing Financial Innovation & Access (EFInA), hosted the MOBILE PAYMENTS SERVICES REGULATORY FRAMEWORK DISSEMINATION WORKSHOP to address major issues raised in the regulatory framework issued by the Central Bank of Nigeria (CBN) in June 2009.

EFInA Chief Executive Officer, Modupe Ladipo said that when the Central Bank of Nigeria (CBN) issued its Mobile Payments Services Regulatory Framework in June 2009, it became necessary for EFInA given its mandate, to provide a platform for stakeholders to share their views and agree on the implementation of the framework. According to her, “This workshop serves as an opportunity for knowledge exchange between the regulators and key stakeholders (banks, payment service providers and mobile operators) on perspectives on the regulation of mobile payments and branchless banking in different jurisdictions. The workshop will also create awareness of the framework and provide stakeholders the opportunity to present their views.”

With focus on regulation and supervision of mobile payments, the workshop which had Nigerian thought leaders and international speakers in the Finance and Mobile Payments Industry in attendance saw many participants including three regulators from the Central Bank of Kenya, Bank of Bangladesh and Bank of Ghana sharing their perspectives on the regulation, supervision and implementation of Branchless Banking and Mobile Payment Regulatory Framework.