Basketmouth Bad Tongue CBN For Banning Money Transfer Companies In Nigeria

Comic actor Basketmouth has reacted to the news that CBN has suspended all money transfer companies from operating in Nigeria and gave only Western Union, MoneyGram and Ria the rights to carry out money transfers in the country. He doesn’t think it is for the good of the common man.

Basketmouth moans "In recent times, online money transfer platforms have sprung up worldwide as telecommunications and the internet have revolutionised the banking and financial industries. "Online banking" and "mobile money" are now everyday phrases while Billionaire investors such as Sir Richard Branson are now putting their money in online money transfer businesses. Against this backdrop, our very own dear CBN has now decided that for us in “naija”, it’s back to the "old school" as far as money transfer is concerned.

"In saner climes, financial regulation authorities would have started investigating this latest decision to grant only 3 companies the rights to operate in a market with more than 150million customers, but na naija so anything goes I guess. Abeg no need to stop there. Why don’t we revoke the licences of all new generation banks and let only UBA, UNION and FIRSTBANK operate. Better still, why don’t we revive the defunct NATIONAL BANK since we are so hooked on our Old ways? With the way science has advanced now, I am getting suspicious that we might have a clone at the helms of the CBN. I think a DNA test is in order." He concludes.

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