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You can now buy smart phones on credit

Before the introduction of mobile phones in Nigeria in 2001, the country had landlines; just about 450, 000 people had them. With the coming of mobile phones, the number of phone lines skyrocketed to 30 million by 2016.

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How to transfer money using your mobile phone

THE Federal Government, through the Central Bank of Nigeria, CBN, introduced the cashless policy in 2012. It was meant to curb excesses in the handling of cash in Nigeria and to reduce the volume of cash in circulation. Most importantly, the policy was introduced to drive development and modernization of payment systems capable of placing Nigeria among the top 20 economies by the year 2020.

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