The Central Bank of Nigeria yesterday warned it would not allow any interest to
frustrate current efforts at raising the level of financial inclusion in the Nigeria. To show
it would no longer condone further violation of guidelines on electronic banking
programme, Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido said at the
panel discussion at the just concluded 18th Nigeria Economic Summit in Abuja hinted the
apex bank was already probing two financial institutions and a leading telecommunications service providers for colluding to engage in activities inimical to the
success of the financial section reform initiative. Though he did not name the affected institutions, indications are that one of the four
leading GSM service providers and two top financial institutions may have been
implicated, hence the decision to further probe their activities to serve as a deterrent to
others. He said “ we cant close our eyes and allow some people to sabotage the reform
and that is why we are investigating two banks and one telecommunications
company”.

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