BBC has revealed that Nigeria does not prefer mobile transactions, as records show that only 6% use the initiative, while the rest prefer hard cash.

While the 6% usage of mobile phones cannot be attributed low number of smartphone users, the issue is that citizens do not trust the mobile payment services.

Granted, Nigeria has lamented the growth of online scams; as of May 2018 it was noted than email scamming was peaking. Banks are also noted as contributors to the low usage of mobile transactions, as they do not want mobile transaction services coming in. Renown mobile transaction firm M-Pesa has expressed concern over Nigerian bank’s lack of interest to partner, as the banks want to provide the mobile services themselves.