The Bleak Reality of Mobile Money Adoption in Nigeria

  • Am I getting swindled?!
  • Where can I use Bitcoin?
  • Can I spend it like naira, or will I have to convert into naira first?
  • Where can I convert?
  • How much is the conversion fee?
  • Will it be paid into my same bank account?
  • Right now, the places where you can use Bitcoin are limited.
  • In order to spend your money anywhere, you’ll have to convert first. Oh, and you have to pay a fee for this conversion.
  • You’ll have to set up a new account, and learn to use the new interface, a new app (and you will definitely need a smartphone!).
  • If you need help to learn this new system, you can take unpaid leave to sit in a classroom and attend a financial literacy training.

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We work with government, financial services regulators, donors and the private sector to drive financial inclusion in Nigeria through #research #advocacy

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