Sanusi: I Was Wrong to Delay Telcos’ Entry into Nigeria’s Financial Services 

Former Central Bank of Nigeria Governor, Sanusi Lamido Sanusi, has admitted that he was wrong to have delayed the entry of telecommunications companies into Nigeria's financial services space. Sanusi, currently the Emir of Kano, made the statement at the inauguration of the Access to Financial Services in Nigeria (A2F) 2026 Survey Report in Abuja on Wednesday. He said the decision made during his tenure as CBN governor slowed the expansion of financial inclusion. Sanusi said his decision was influenced by concerns over the safety of depositors' funds following the banking crisis at the time, but reflecting on his tenure, he noted that the subsequent growth of fintechs and mobile-based financial services had demonstrated that telcos could have accelerated financial inclusion much earlier.

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