Research for Global Development

Mobile Money Adoption in Nigeria: Is there Low-Hanging Fruit?


The first mobile money service was launched in Nigeria in 2011 but, so far, there has been little mobile money adoption. InterMedia’s Financial Inclusion Insights (FII) Tracker Survey of Nigeria, conducted in fall 2013, measured mobile money usage at a paltry 0.3 percent of the Nigerian adult population (2.6 million). The Nigeria FII Tracker Survey, and a recent study by MicroSave’s Helix Institute of Digital Finance, identified some of the likely reasons for mobile money’s limited uptake, including:

  • Lack of knowledge among consumers about how to open a mobile money account.
  • Low levels of trust in mobile money’s performance and safety.
  • Unstable mobile networks.
  • Ineffective agent training and management, leading to a lack of proper monitoring and operational support for agents.
  • Lack of business incentives for MNOs to fully invest in mobile money partnerships with banks

Continue reading our blog here

InterMedia

Mobile Money Adoption in Nigeria: Is there Low-Hanging Fruit?


The first mobile money service was launched in Nigeria in 2011 but, so far, there has been little mobile money adoption. InterMedia’s Financial Inclusion Insights (FII) Tracker Survey of Nigeria, conducted in fall 2013, measured mobile money usage at a paltry 0.3 percent of the Nigerian adult population (2.6 million). The Nigeria FII Tracker Survey, and a recent study by MicroSave’s Helix Institute of Digital Finance, identified some of the likely reasons for mobile money’s limited uptake, including:

  • Lack of knowledge among consumers about how to open a mobile money account.
  • Low levels of trust in mobile money’s performance and safety.
  • Unstable mobile networks.
  • Ineffective agent training and management, leading to a lack of proper monitoring and operational support for agents.
  • Lack of business incentives for MNOs to fully invest in mobile money partnerships with banks

Continue reading our blog here

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