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Mobile Money is the term used to refer to the technology that facilitates the movement of money between individuals and businesses who may not have a Bank account domiciled at a traditional bank. 40% of Nigerians aged 15 do not own a bank account and thus excluded from formal financial services. Mobile Money transactions can be completed in many ways with the use of a mobile device to move money to individuals or businesses who have a mobile phone number and are on the same telecom network’s network. In Nigeria, thanks to NIBSS, inter-bank transfers are completed nearly instantly.