Officials call for greater take-up of electronic payment systems in Nigeria

Jan 10, 2013

Not enough people in Nigeria are making use of electronic payment systems in the country, officials have warned.

Not enough people in Nigeria are making use of electronic payment systems in the country, officials have warned.

Various alternatives to traditional notes and coins have been rolled out in the African nation over the last few years, including online banking, mobile money services and ATMs.

However, the Committee of e-Banking Industry Heads is concerned that people in the country are not getting behind these options.

Chuma Ezrim, chairman of the body, said that greater use of electronic payment systems could boost financial inclusion in Nigeria, which would be good for the wider society.

Furthermore, he pointed out that the growing adoption of methods such as internet banking and mobile money services could help to stimulate growth in the Nigerian economy.

Emmanuel Obaigbhona of the Central Bank of Nigeria added that it wants to establish an effective payment system that is "nationally utilised and international recognised", as well as affordable even to the poorest people.ADNFCR-2976-ID-801519974-ADNFCR