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Welcome! The Digital Financial Services Observatory is housed by CITI at Columbia University Business School in New York. It is funded by the Gates Foundation.
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Multiple sources reported that Prof. Yemo Osinbajo, Nigeria's Vice President, estimated the annual cost of Nigerian telecommunications related financial services fraud at N197 billion (USD544,048,605) while addressing industry stakeholders at a forum organized by the Nigerican Communications Commission and the Central Bank of Nigeria.
Arrests and court proceedings against persons suspected of involvement with the terrorist attack at the dusitD2 hotel in Nairobi suggest that the Kenyan mobile money transfer system may have been used as a primary financing vehicle.