• Friday, December 08, 2023
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CBN targets e-payment system to promote financial inclusion


The Central Bank of Nigeria (CBN) has reinstated its commitment towards effective electronic payment system that would promote financial inclusion.

Sanusi Lamido Sanusi, governor, CBN, said the apex bank remains committed to realising the vision of providing Nigeria with a secure, robust and accessible payment infrastructure.

Describing the payments system as an important component of services that banks render to Nigerians, Sanusi emphasised the importance of effective, efficient and safe service delivery to the Nigerian banking populace.

Speaking on the theme, ‘Secure, robust & accessible payments infrastructure’, the CBN governor in a keynote address at the CBN/Gartner event held in Lagos disclosed that the bank had taken deliberate actions in recent times to focus attention towards electronic payments as a veritable option for efficient payments service towards the promotion of rapid financial inclusion and increased economic activities.

According to him, “The success of a country’s payments system is evinced by perceptions of its security, robustness – that is, the ability to cater for a wider range of preferences – and its ready access to the end-user”.

Speaking further, Sanusi said that the cash-lite policy was introduced to, among other things, meet FSS2020/Vision 2020 requirements for regional and international integration and modernise the payments system in Nigeria. “This is just one step towards the credible, reliable, and efficient payments system that is CBN’s dream,” he added.