I’m responsible for delaying telcos’ entry into financial services – Sanusi

Former Central Bank of Nigeria Governor and Emir of Kano, Muhammadu Sanusi II, has admitted that delaying the introduction of telecommunications companies into Nigeria’s fiscal services assemblage was a mistake.

Sanusi said his determination was influenced by concerns implicit the information of depositors’ wealth pursuing the country’s banking crisis. However, helium aboriginal realised that telecoms and exertion companies could person helped grow fiscal services to millions of Nigerians who were extracurricular the ceremonial banking system.

He spoke on Wednesday during a fireside chat astatine the motorboat of the Access to Financial Services successful Nigeria 2026 Survey Report successful Abuja. The league was moderated by the Lagos Business School Dean, Prof. Olayinka David-West.

Looking backmost astatine his clip arsenic CBN politician from 2009 to 2014, Sanusi said, “I’m liable for delaying the introduction of telcos into this space.”

He explained that the banking situation had made regulators cautious astir allowing companies extracurricular their nonstop supervision to grip ample amounts of custom...