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Nigerians bury cash in backyards as mobile banking stumbles

Meanwhile, in Nigeria

"Every few days, Tasiu Abdurrahman takes the money he makes from selling spices and buries it in his yard. The 55-year-old closed his bank account eight years ago after growing disillusioned with standing in long lines for hours to deposit or withdraw cash."

From "Nigerians bury cash in backyards as mobile banking stumbles".

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"Less than 6% of Nigerians use their handsets to transact using mobile money, compared with 73% of Kenyans, where more than two-thirds of adults have a bank account"

From "Nigerians bury cash in backyards as mobile banking stumbles".

 

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"Cellular phone operators would invest more if they were allowed to lead the way, said Emeka Oparah, a spokesman for Bharti Airtel Ltd.’s Nigerian unit, which has 40 million subscribers."

From "Nigerians bury cash in backyards as mobile banking stumbles".

 

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