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Cost of data must fall to achieve financial inclusive — GTCO boss
Chief Executive Officer, Guarantee Trust Holding Company, GTCO, Mr. Segun Agbaje, yesterday, advocate for drastic reduction in the cost of data as the key to achieving the financial inclusion in the country.
At an annual media parley, Agbaje addressed the dispute between banks and telcos regarding USSD services and its impact on financial inclusion. He argued that USSD is not an optimal solution and emphasized the need to reduce data costs to promote financial inclusion and literacy.
Agbaje cited India as an example where USSD is not prevalent despite having a similar demographic to Nigeria. He viewed the focus on USSD as a distraction from the escalating data costs in Nigeria compared to other economies.
Agbaje suggested that by lowering data costs, USSD usage would diminish. He also mentioned that banks have advised charging users directly for USSD services instead of involving them in the collection process.
source;Vanguardngr.com
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