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Nigeria is an untapped market for mobile money with significant revenue potential. The telcos operating in the country have, therefore, positioned themselves to grab the opportunities presented by the evolving business expected to rapidly drive the cashless policy of the Central Bank of Nigeria and deepen financial inclusion, writes Bamidele Famoofo

Mobile money is a service whereby customers use their mobile phone device to send and receive monetary value – or more simply put, to transfer money electronically from one person to another using a mobile phone as mobile wallet.

The planned incursion of telcos into the space, as they …