Business
Okupe Wants FG To Stop Banks From Airtime Biz
By Chuks Ekpeneru
A former aide to President Goodluck Jonathan, Doyin Okupe has given reasons why the Federal Government should stop banks from selling telecommunication airtime.
In a post on Twitter, Okupe said airtime business has created jobs for Nigerians.
He noted that the sector is a N10 billion/day in terms of volume.
The tweet said:
GOVT MUST STOP BANKS FROM SELLING OF RECHARGE CARDS.THIS BUSINESS IS WORTH ABOUT N10B/DAY& CAN PROVIDE JOBS FOR 5M YOUTHS NATIONWIDE AND REDUCE UNEMPLOYMENT. BANKS SHOULD NOT BE IN THE RETAIL BUSINESS WHERE THEY STRANGULATE SMALL INDIVIDUAL TRADERS.GOVT MUST PROTECT MSMES.
— DOYIN (@DOYINOKUPE) JULY 28, 2020
He demanded that the government protect the weak in the society.
“Government must stop Banks from selling of RECHARGE cards.
“This business is worth about N10B/day& can provide jobs for 5m youths nationwide and reduce unemployment.
“Banks should not be in the retail business where they strangulate small individual traders. The government must protect MSMEs.
“Even under “Capitalism”
“The government still has the responsibility to protect the weak in the society against the strong and mighty. Secondly, the banking license does not cover Retail business.
“Any society that is not regulated is close to a jungle where might us right which is undesirable.”
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