Banks told to stop selling recharge cards

Nigerian government has been advised to stop banks in the country from selling airtime or recharge cards.

Doyin Okupe, a former aide to former Presidents Olusegun Obasanjo and Goodluck Jonathan, believes that by retailing recharge cards, banks are contributing to the already high rate of unemployment in the country.

In a tweet, the former presidential aide pointed out that recharge card business is worth about N10 billion per day and is capable of providing jobs for 5 million youths nationwide.

“Govt must stop Banks from selling of recharge cards,” he said.

“This business is worth about N10B/day and can provide jobs for 5m youths nationwide and reduce unemployment.

“Banks should not be in the retail business where they strangulate small individual traders. Government must protect MSMEs,” he said.

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