For Nigerian farmers, a new revolution is in the offing as the Bank of Agriculture (BOA) and Cellulant of Kenya sign a deal to provide mobile banking services to Nigerian farmers in a fresh push for financial inclusion among the rural populace.
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About 39 million adult Nigerians representing about 46% of the nation's adult population have no bank accounts.
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The Managing Director of the bank, Dr. Mohammed Santuraki, said while signing the agreement on behalf of his organization, in Abuja, last week, that with over 105 million active mobile telephone lines
in Nigeria, the project, named "cocoon", would transform the lives of the farmers when operational.
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His words, "mobile Money services are the next frontier of financial services in Nigeria. This is because of its effectiveness in enhancing financial access, which despite our relatively developed banking system, has been a national challenge given the large size. of our population over a very large land mass.