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UBA bank acquires Nigerian mobile banking licence

November 29, 2010 • Mobile and Telecoms, Top Stories

UNITED Bank for Africa plc, one of the largest banks in the country has received approval from the Central Bank of Nigeria (CBN) to deploy mobile banking on its platform.

The new licence will benefit at least 54 million unbanked Nigerians, about 70% of the population.

In an interview with our reporter over the weekend, Group Managing Director of UBA, Philips Oduoza, said: “The CBN has approved the license for UBA to deploy mobile banking. We will roll it out very soon. It will basically be to promote retail banking”.

He also announced that UBA has been granted a license to set up operations in the Republic of Congo. According to him, that would bring to 20 the number of countries UBA is present in addition to it’s
over 700 branches in Nigeria.

SIMEON OGOEGBULEM in Abuja, Nigeria

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