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Nigeria: banking heads meet over e-payment potential

Nigeria , 11 Nov 2013

Nigeria: banking heads meet over e-payment potential

Nigeria’s Committee of Electronic Banking Industry Heads, (CeBIH) will later this week hold a conference aimed at exploring opportunities for growth in the country’s burgeoning electronic payments market.

Speaking ahead of the conference scheduled for Thursday, the chairman of the body, Chuks Iku, said that Nigeria was yet to fully explore such opportunities despite the e-payment market experiencing exponential growth in the last two years.

“More than half of the potential for growth has not been realised,” he said.

The theme for Thursday’s conference, scheduled for Uyo, is “E-payment System: Harnessing Opportunities for Growth and Profitability.”

Iku said the main the purpose of the conference was to prompt e-payment operators to probe deeper with a view of identifying unutilised opportunities.

To achieve this purpose, Iku said the conference will feature presentations from top players in the industry, the World Bank and the regulatory bodies.

These include Ade Shonubi who is the managing director of Nigeria Interbank Settlement System (NIBSS), Dipo Fatokun, the director of banking and payments system at the Central Bank of Nigeria (CBN), Duncan Otieno, the managing director of MobiComm in Kenya and Frederik Eijkman, managing director of PEP Intermedius Kenya.

Tunde Lemo, deputy governor of CBN will deliver the keynote address while top officials and state executives of Akwa Ibom State, led by governor Godswill Akpabio, are scheduled to attend the event.

The presentations and discussions at the event will focus on such major issues as agent banking, mobile money, EMV standards and its potentials for card growth and profitability, which are in line with on-going efforts by the CBN to boost the attainment of the financial inclusion goals in the country.

Established July 2009, CeBIH comprises of all heads of e-business or e-channels and cards services of all the banks in Nigeria.

The primary objective of the committee is to promote electronic banking services in line with global best practices and serve as a forum for sharing ideas and experiences by the e-banking industry heads.

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