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Simplifying Nigeria's Payment System


Obinna Chima writes on the benefits of the recently introduced Nigeria Quick Response Code in the country, which is expected to improve settlement, promote financial inclusion, help bring cash-related activities into the ecosystem for a better economy and reduce the cost of processing cash
There is no doubt that over the years, Nigeria has made noticeable progress in its desire to create a robust payment system through several reforms targeted at restoring confidence in the system.
Indeed, a sound payment system infrastructure, where operators and customers can transact business with confidence and convenience, trust and timeliness, underpins many of these reforms. ....

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Daily Trust - CBN strategizes for COVID-19 second wave, fixing economy


Governor, CBN, Mr. Godwin Emefiele
By
Tue Dec 22 2020
Recent data from the National Bureau of Statistics (NBS) have shown that Nigeria’s real Gross Domestic Product (GDP) contracted for the second consecutive quarter by 3.62 per cent in the third quarter of the year, compared to a growth of -6.10 per cent, which showed that the country had entered its second economic recession in five years.
This second recession is no thanks to COVID-19 pandemic which saw the federal government adopting several measures which included a lockdown of Lagos, Ogun as well as the Federal Capital Territory, leading to the disruption of the movement of goods and services as well as production. ....

Lagos State , Federal Capital Territory , Abuja Federal Capital Territory , Uche Uwaleke , Akpan Hogan Ekpo , Aishah Ahmad , Folashodun Shonubi , Edward Lametek Adamu , Nasir El Rufai , Godwin Emefiele , International Food Policy Research Institute , Foundation For Economic Research , Central Bank , National Bureau Of Statistics , Corporate Services Directorate , Monetary Policy Committee , National Bureau , Gross Domestic Product , Anchor Borrower Scheme , Capital Market , Economic Sustainability , Daily Trust , Economic Research , Professor Akpan Hogan Ekpo , Economic Sustainability Plan , Deputy Governor ,