NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
NCC, CBN sign MoU on payment system

By Constance Athekame on 10/04/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 351


 

The Nigerian Communication Commission (NCC) and the Central Bank of Nigeria (CBN) on Tuesday in Abuja signed a Memorandum of Understanding (MoU) on payment system. 

Prof. Umar Danbatta, the Executive Vice Chairman of NCC, said the signing of the MoU between NCC and CBN was a landmark in the digital transformation process that the commission was mandated courtesy of act establishing it. 

Danbatta said the MoU, which was on mobile money service and financial inclusion followed useful work done by a committee made up of the two organisations. 

He said the digital transformation process targeted governance and transformation of key services sector of the economy and one of such sector was the financial sector.

Danbatta said the signing of the MOU was also a positive statement that NCC and CBN were making about their content to ensure digital transformation process in the country and all other sectors of the economy.

“And how the organisations can bring this experience to bear in other sector of Nigeria’s economy like education, transportation and other key service sectors including the delivery of good governance to the citizens of the country.

“NCC is committed to this transformation process which we are daily thinking of what to do to ensure we reach the desired destination by making sure our people participate in the digital economy.

“In a way and manner that they will be empowered to leverage on information and Communication Technology (ICT) to conduct their daily businesses,’’ he said.

Mr Godwin Emiefele, the Governor of CBN, said the intention of the MoU between both organoisations was to see how they could work together toward driving the payment system in the country.

Emiefele said the MoU was geared toward reducing cash transaction and enhancing cashless operations in the country.

He said the signing of the MoU would also help to facilitate financial inclusion and drive a more robust payment system in the country.

“I am very delighted because with this signing, we are now very sure and certain that we will very easily improve the level of financial inclusion from the level it is today which is about 48 per cent.

“And we will set a target for ourselves that by 2020, which is in three years or below that the level of financial inclusion should increase to 80 per cent.

“I can assure that this signing provides framework for licensing of payment service provider,” he said.

Emiefele said the MoU was also a framework that would guide the working of those who were stakeholders both in the banking industry as well as the telecommunication industry.

He added that this was not just for mobile payment but also the payment system in the country.

“We look forward to many more years of close collaboration between the CBN and banking system on one hand and the NCC, telecommunication industry on another hand.” (NAN)

 

Source News Express

Posted 10/04/2018 9:30:57 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Maiduguri records first rain in 2016

FG urged to ban importation of prepaid meters...

Buratai probes N.3m bribe for military escort

My son not dead but alive — Okorocha...

Beyond The Banditry in Zamfara

Imo 2019 Guber: Nwosu as campaign tool? asks...

Commotion as mobile policeman opens fire after quarrel...

2,000 displaced in fresh Ebonyi communal clash

INEC staff arraigned for N138m bribe

Special Duties Minister Kabiru Tanimu Turaki worthy of...

Security Chiefs, Northern Governors brainstorm over insecurity in...

Sultan condemns Southern Kaduna killings

 

Latest News UPDATE: Dino Melaye injured in escape bid, rushed to hospital 2 Catholic priests, 14 other worshipers dead as herdsmen unleash fresh mayhem in Benue •How it happened — Police Breaking News: Pandemonium as thugs shock police, whisk away Senator Dino Melaye Intrigues as APC picks Abuja for convention •Oyegun, Oshiomhole divide South South APC No restructuring, no 2019 election, Ijaw youths warn •Vow to stop oil flow in the region Imo APC group issues ultimatum to Okorocha El-Rufai charges incarcerated Sheikh Zakzaky and wife to court APC National Chairmanship Battle: South South Chairmen reject Oshiomhole, insist on Odigie-Oyegun Army kills armed robbers in Ibadan Falana calls for Buhai’s probe over $469m ECA scandal Switzerland returned $322.5m Abacha loot with interest — Envoy Troops waste 6 bandits terrorising Kogi

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,815 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,820 views) Shameless Genevieve Nnaji exposes breasts in public (267,922 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (220,322 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (202,172 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (198,238 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,942 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (155,294 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (147,187 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (139,116 views) Lagos plane crash: Journalist releases victims’ names (136,971 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,652 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,069) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (483) Features (569) Global Business Monitor (264) International (1,926) Interview (149) Live Commentary (28) Love Matters (116) News (34,717) Opinion (916) Pidgin (10) Politics (4,810) Religion (724) Sports (1,485) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement