• Latest
  • Trending
  • All
Fake N1000, N500 Notes Dropped in 2020 — CBN

CBN To Scrap Usage Of ATM Cards, Others, Announces Replacement And Date

Girlfriend stabs Boyfriend to Death in Ondo for Cheating

Girlfriend stabs Boyfriend to Death in Ondo for Cheating

CAC sets Deadline to delist 100,000 Dormant Companies

CAC sets Deadline to delist 100,000 Dormant Companies

Court orders NYSC to allow Skirts for Female Corps Members

Court orders NYSC to allow Skirts for Female Corps Members

Può una semplice strada piena di trabocchetti trasformarsi in unavventura per guadagnare premi lungo

Nigerian Government sets New Entry Age for Admission to JSS 1

Nigerian Government sets New Entry Age for Admission to JSS 1

Секреты успешной игры как промокод плей фортуна помогает увеличить шансы на выигрыш!

Секреты успешных игроков vavada зеркало — ключ к безупречному игровому опыту.

A sizzling challenge awaits players eager to conquer the trials of the chicken road game download ex

Пориньте у світ виграшів, де goxbet вход відкриває безмежні шанси для справжніх поціновувачів азарту

EFCC Arrests 25 BUK Undergraduates in Kano

EFCC Arrests 25 BUK Undergraduates in Kano

13 Students from Kwara Injured in Kebbi Road Accident

13 Students from Kwara Injured in Kebbi Road Accident

Natasha denied Entrance to  Senate Chamber [Video]

Natasha denied Entrance to Senate Chamber [Video]

  • About Us
  • Advertise with Us
  • Editorial Policy
Wednesday, July 30, 2025
  • Login
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus
No Result
View All Result
iDeemlawful
No Result
View All Result
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Commentary
  • Editorial
  • Campus
Home Breaking News

CBN To Scrap Usage Of ATM Cards, Others, Announces Replacement And Date

by iDeemlawful
October 24, 2022
A A
Fake N1000, N500 Notes Dropped in 2020 — CBN
FacebookTwitterWhatsapp

The Central Bank of Nigeria (CBN) has announced the introduction of a National Domestic Card Scheme which is effective January 16, 2023.

2023 University of Toronto President’s Scholars of Excellence Scholarship For Undergraduates
According to reports, the Managing Director of Nigeria Inter-Bank Settlement Systems Plc (NIBSS), Premier Owoh, stated this during the Committee’s meeting on Thursday, October 20, 2022.

The move is aimed at promoting stability, inclusion, and growth in the financial and payment system and will be delivered in conjunction with the Bankers Committee and other financial ecosystem stakeholders.

RelatedPosts

JUST IN: Governor Adeleke cast his votes as Osun LG poll begins

Meranda presides over Lagos Assembly plenary amidst Tension

JUST IN: Lagos Assembly Speaker, Mojisola Meranda faces mounting pressure to step down

Wike backs Tinubu despite economic woes as G-5 Governors meet Makinde

The card scheme was also expected to foster innovation within the Nigerian domestic market, while enabling African and international interoperability, allowing banks and other institutions to offer a variety of solutions including debit, credit, virtual, loyalty, and tokenized cards amongst others.

Nigeria remains Africa’s largest and most vibrant economy and the pace of digitisation and innovation, alongside the expansion of mobile penetration and the proactive policy initiatives of the CBN have driven the accelerated adoption of digital financial services.

Considering the strength and breadth of its banking sector and the rapid growth and transformation of its payments system over the last decade, Nigeria is ideally positioned to successfully launch a national card scheme.

Building on this platform to accelerate financial inclusion requires infrastructure that can deliver lower-cost payment services that are more accessible and affordable for Nigerians.

The central bank, in a statement issued by CBN Director, Corporate Communications, Mr. Osita Nwanisobi, pointed out that the scheme could also be leveraged as a platform for the seamless dissemination of government-to-person payments and other social impact initiatives, enhancing financial access and supporting the growth of a robust and inclusive digital economy.

The bank also said domesticating the card scheme would further enhance data sovereignty, enabling the development of locally relevant products and services and reducing demands on foreign exchange.

Nigeria joins a growing list of countries including India, Turkey, China, and Brazil as leading examples – which have launched domestic card schemes and harnessed the transformative benefits for their respective payments and financial systems, particularly for the underbanked.

Osita said, “The CBN recognises the significant benefits from delivering Africa’s first central bank-driven, domestic card scheme, which, when delivered at scale, has the potential to become the largest in Africa, and one of the largest in the world

Tags: Central Bank of NigeriaiPad
Previous Post

JUST IN: Likely Next UK Prime Minister Following Resignation Of Liz Truss

Next Post

2023: Wike Inaugurates PDP Campaign Council In Rivers State, Atiku’s Picture Missing On Posters [photo]

iDeemlawful

iDeemlawful

Related Posts

Girlfriend stabs Boyfriend to Death in Ondo for Cheating
Breaking News

Girlfriend stabs Boyfriend to Death in Ondo for Cheating

Court orders NYSC to allow Skirts for Female Corps Members
Breaking News

Court orders NYSC to allow Skirts for Female Corps Members

Breaking News

Può una semplice strada piena di trabocchetti trasformarsi in unavventura per guadagnare premi lungo

Nigerian Government sets New Entry Age for Admission to JSS 1
Breaking News

Nigerian Government sets New Entry Age for Admission to JSS 1

Breaking News

Секреты успешной игры как промокод плей фортуна помогает увеличить шансы на выигрыш!

Breaking News

Секреты успешных игроков vavada зеркало — ключ к безупречному игровому опыту.

Breaking News

A sizzling challenge awaits players eager to conquer the trials of the chicken road game download ex

Breaking News

Пориньте у світ виграшів, де goxbet вход відкриває безмежні шанси для справжніх поціновувачів азарту

13 Students from Kwara Injured in Kebbi Road Accident
Breaking News

13 Students from Kwara Injured in Kebbi Road Accident

FULL TEXT: Tinubu’s tribute for Buhari at special FEC
Breaking News

FULL TEXT: Tinubu’s tribute for Buhari at special FEC

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019–2025 Deemlawful Media

  • About Us
  • Advertise with Us
  • Editorial Policy

Connect With Us

No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus

Copyright © 2019–2025 Deemlawful Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In