Sanusi regrets delaying telcos’ entry into financial services

The Emir of Kano, Muhammadu Sanusi II, has expressed regret over delaying the entry of telecommunications companies into Nigeria's financial services sector while he was governor of the Central Bank of Nigeria. Sanusi spoke on Wednesday at the launch of the 2026 Access to Financial Services in Nigeria survey by Enhancing Financial Innovation & Access. He said telcos already had the infrastructure and reach that could have accelerated financial inclusion, particularly in underserved communities. He also stated that financial inclusion should not be measured simply by the number of people with bank accounts or the ability to transfer money, adding that opening an account and moving money is not the same as earning money or moving people out of poverty.

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