Reasons why Government should stop banks from selling airtime/ Recharge card in Nigeria

Last Updated on 2023-07-28 by Admin

The sales of telecommunication airtime worth over N10billion/day in terms of volume which can provide jobs for 5 millions youths nationwide and reduce unemployment.

But as we stand today the banking sector has taken over sell of recharge card at the detriment of vast majority of retain business in Nigeria.

It will be advisable for federal government to step in and stop Banks from selling of RECHARGE cards.Banks should not be in the retail business where they strangulate small individual traders.

The government must protect MSMEs since banking license does not cover Retail business.Any society that is not regulated is close to a jungle where might us right which is undesirable.”

“Even under “Capitalism” the government still has the responsibility to protect the weak in the society against the strong and mighty.

Today, Nigerian banks are airline ticket resellers, ecommerce platform owners, bill collectors and many more. The one I find very striking is the sale of airtime, one business that had kept many unemployed youths going.

Nigerian banks should just focus on core financial services, innovate around that and stop trying to be resellers or traders under whatever disguise.

This is where policies and regulation come into play. The Central Bank of Nigeria and the Nigerian Communications Commission should put heads together and come up with policies and guidelines since airtime dispensing creates jobs for Nigerians.


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