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Monday, August 22, 2011

Incredible! Only 24 Million Nigerians operate Bank Accounts

MANAGING Director of Oliswarren Associates Limited, Mr. Olisa Aniuno, yesterday, said studies have shown that only 24 million Nigerians operate bankaccounts, describing it as too low for a population of 150 million people.
Speaking at the launchof a new mobile money scheme knownas ‘Pocket money’ by his company in collaboration with e–Transact in Awka, Aniuno said it was for that reason that his company decided to address the limitations and bottlenecks created by cash, cheques and credit cards.
He said since a majority of adult Nigerians have mobile phones, they could useit to make financial transactions.
Aniuno said the new scheme entaied the use of mobile phone tomake payments, allowing registered users to pay for goodsand services at anytime and anywhere using mobilephones installed with security personal identification number, PIN, via short message service, SMS.
Anambra State Commissioner for Finance, Mr. Eze Echesi,who launched the product on behalf of Governor Peter Obi, said the state has blazed the trail on reaching the rural community with modern financial transaction through the introduction of thenew scheme.

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