Central Bank Strengthens Nigeria Payment System to Boost Electronic Payment

Posted by African Examiner Abuja, Business News, National News, News Monday, September 16th, 2013

The African Examiner

CBN governor Sanusi Lamido Sanusi

The Governor of Central Bank of Nigeria Malam Sanusi Lamido Sanusi, has presented the revised version of the Nigeria Payment System (NPS) Vision 2020 Strategy Document to the public.

The CBN governor made the public presentation at an International Conference on Payment System in Abuja, saying the document would boost electronic payment system in the country.

He said the revised document resulted from identified deficiencies in the existing market infrastructure. According to him, an outline document would be published by the bank indicating interim steps to achieve long term objectives.

He said that the apex bank would strengthen the scheme governance structure to reflect greater responsibility of scheme management covering all aspect of risks, business management and operational resilience.

Meanwhile , The Minister for Communication Technology, Olubola Johnson, disclosed that the ministry was working to ensure the establishment of infrastructure in some areas apart from the major cities.

She said efforts were being made to make effective use of the post offices located in almost all the local governments in the country to boost network for effective e-payment system.