Mobile Money in Nigeria: The User Experience

This case study provides a better understanding of the factors that are impeding customers’ active engagement with mobile money (MM) in Nigeria. It is based on the analysis of 32 users and eight agents regarding the use of two MM services in the cities of Lagos and Ibadan. The study states that almost 57% of Nigerian adults do not have access to formal financial services, but 64% of the adult population owns a mobile phone, and 84% have access to one. Hence, it suggests that mobile financial services in Nigeria have enormous potential to further financial inclusion in Nigeria. The study also discusses the advantages and obstacles of using mobile money and provides recommendations to improve user experience. Key recommendations include:

• Create contextually sensitive messaging and imaging as an advertising tool;
• Incent and empower agents to recruit and ensure the participation of potential customers;
• Give agents a stronger connection to the larger business entity instead of treating them as unconnected independent contractors;
• Streamline processes so that transactions of all types take the minimum number of steps and the least amount of time;
• Seek to draw revenue from avenues other than service fees that squeeze customers who can’t afford it.