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HomeNewsNigeria’s apex bank starts e-payment January

Nigeria’s apex bank starts e-payment January

Starting 2 Jan. 2012, the apex Central Bank of Nigeria (CBN) will start the implementation of  the e-payment scheme for government supplies, taxes, salaries and pensions in the country, the local media reported Thursday.

The report quoted the head of domestic payment at the CBN, Mr. Emmanuel Obaigbona, as saying the initiative was sequel to the presidential directive in 2009 that from January 2012, all payments by the government and parastatals must be by electronic medium.

“You know there (is) a lot of problems with cash, corruption for instance. It will help to reduce corruption in the system and the frequency of robbery attack on banks’ bullion vans will stop,” he said.

He said the CBN would approve licenced qualified e-payment agents, create awareness of the new system, have the oversight function over other banks and ensure compliance with guidelines concerning e-payment services


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