Fidelity bank banner UBA banner
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: 595


 

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

 

You may also like...
Again, violence mars Save Rivers Movement rally •Hoodlums...

Stakeholders condemn violence against children

Why we’ll go ahead with PDP convention despite...

Chime calls for cancellation of Enugu LG election...

Buhari under fire over empty treasury claim

Controversy trails Benue Anti-Grazing Bill

Breaking News: Ajegunle wins Lagos Community Games

Embattled NIPC boss lambasts protesting workers, points fingers...

Dasukigate: Senator Omisore finally in EFCC net

Abubakar takes over at ICPC

Buhari restates commitment to defeat Boko Haram, seeks...

Air Force deploys additional combat aircraft to battle...

 

Latest News FRSC job seeker collapses, dies Ex-president’s son detained over fraud CBN warns of another looming recession Osun election: PDP calls for resignation of INEC Chairman and Amina Zakari Bill Cosby sentenced to three to 10 years in jail for sexual assault PDP ready to wrest power from APC, says R-APC former National Chairman Buba Galadima Toni Kan and partner sell sabinews.com in landmark deal FG kick-starts 58th Independence Anniversary Celebration with photo exhibition PDP heading for self-destruction in Kogi East, youths warn Osun rerun: Fayemi leads APC leaders to Omisore’s residence Miracle in America: Paralysed people walk again Nigeria's population will hit 450 million by 2050 — International consultant

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (397,567 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (377,315 views) Shameless Genevieve Nnaji exposes breasts in public (309,170 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (251,030 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (232,795 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,859 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (200,515 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (182,059 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (166,133 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,600 views) Lagos plane crash: Journalist releases victims’ names (158,487 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (147,114 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,630) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (548) Features (653) Global Business Monitor (301) International (2,436) Interview (165) Live Commentary (28) Love Matters (144) News (39,151) Opinion (1,111) Pidgin (11) Politics (6,759) Religion (873) Sports (1,708) Stock Watch (34) AMA & Al Jazeera Global Update

 

NLNG Expression of Interest banner

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Anthony Joshua vs Alexander Povetkin: Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement