Sanusi says blocking telcos from banking slowed financial inclusion
Amina Garba
Former CBN governor Muhammadu Sanusi II has said his decision to slow the entry of telecommunications companies into Nigeria’s financial-services sector was wrong.
Sanusi, now the Emir of Kano, spoke on Wednesday during a fireside chat at the launch of the Access to Financial Services in Nigeria 2026 Survey Report in Abuja.
He said the decision was influenced by concerns after the banking crisis, when regulators were focused on protecting depositors and controlling funds handled by companies outside direct banking regulation.
Sanusi said later developments showed that telcos and technology companies had an important role to play in reaching underserved Nigerians. He said the policy position delayed financial inclusion, even though it came from a concern about safety at the time.
Sources: Punch, Premium Times
Written by
Amina Garba
Financial reporter covering CBN policy, oil and gas, government budgets, and macroeconomic trends. Business Writer at NaijaTrend.
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