capacity for the nation’s banking industry.
The oversight visit was in furtherance of the Committee’s constitutional responsibility and legislative mandate of supervising agencies of government under its purview.
CBN, NIBSS seek increased efficiency in payment systems The Central Bank of Nigeria (CBN) and the Nigeria Interbank Settlement System (NIBSS) have reiterated commitment to increased efficiency in the nation’s payment system. Deputy Governor (Operations), CBN, and Chairman of NIBSS, Mr. Adebayo Adelabu stated this while addressing journalists at the Electronic Payment Incentive Scheme (EPIS) 2016 awards in Lagos at the weekend.
Adelabu stated: “We decided to recognise those operators who have contributed immensely to the efficiency and effectiveness of the payment system in 2016, thereby encouraging them to do more in 2017. I am actually excited about recent developments in the payment system.
“We have come a long way and we have grown so fast. Nigeria has been identified as the leader in Africa because of the advancement we have made in the payment system and I foresee faster, more rapid and more efficient payment system in the coming years, given the calibre of operators we have in Nigeria.”
Also speaking, Managing Director/Chief Executive, NIBSS, Mr. Ade Shonubi, said: “Every year we look at the past 12 months and we encourage banks with light competition, where we look at the efficiency and how well they have done in terms of increase in volume and efficiency.
Volume and efficiency We have seen significant improvement in efficiency across most of the platforms. The error rate in PoS transactions which have been a very big problem for us has dropped significantly. The telcos have provided better network services and the banks have improved their system as well.”
The EPIS ‘Most Customer Experience (Electronic Payment Platform Experience) Award was won by Guaranty Trust Bank Plc. Also, Zenith Bank won the ‘Cashless Driver Bulk Payment’ and the ‘Cashless Driver PoS Transaction’ awards, while the ‘Cashless Driver Instant Payment,’ ‘Cashless Driver PoS Issued Cards Transaction,’ and three other awards went to GTBank.
Ikeja Disco won the Cashless Drive Merchant award; Lagos states also won the Cashless Driver Government, while Benin Electricity Disco was rewarded with the Cashless Driver Corporate award. Several other firms were rewarded at the event.
The oversight visit was in furtherance of the Committee’s constitutional responsibility and legislative mandate of supervising agencies of government under its purview.
CBN, NIBSS seek increased efficiency in payment systems The Central Bank of Nigeria (CBN) and the Nigeria Interbank Settlement System (NIBSS) have reiterated commitment to increased efficiency in the nation’s payment system. Deputy Governor (Operations), CBN, and Chairman of NIBSS, Mr. Adebayo Adelabu stated this while addressing journalists at the Electronic Payment Incentive Scheme (EPIS) 2016 awards in Lagos at the weekend.
Adelabu stated: “We decided to recognise those operators who have contributed immensely to the efficiency and effectiveness of the payment system in 2016, thereby encouraging them to do more in 2017. I am actually excited about recent developments in the payment system.
“We have come a long way and we have grown so fast. Nigeria has been identified as the leader in Africa because of the advancement we have made in the payment system and I foresee faster, more rapid and more efficient payment system in the coming years, given the calibre of operators we have in Nigeria.”
Also speaking, Managing Director/Chief Executive, NIBSS, Mr. Ade Shonubi, said: “Every year we look at the past 12 months and we encourage banks with light competition, where we look at the efficiency and how well they have done in terms of increase in volume and efficiency.
Volume and efficiency We have seen significant improvement in efficiency across most of the platforms. The error rate in PoS transactions which have been a very big problem for us has dropped significantly. The telcos have provided better network services and the banks have improved their system as well.”
The EPIS ‘Most Customer Experience (Electronic Payment Platform Experience) Award was won by Guaranty Trust Bank Plc. Also, Zenith Bank won the ‘Cashless Driver Bulk Payment’ and the ‘Cashless Driver PoS Transaction’ awards, while the ‘Cashless Driver Instant Payment,’ ‘Cashless Driver PoS Issued Cards Transaction,’ and three other awards went to GTBank.
Ikeja Disco won the Cashless Drive Merchant award; Lagos states also won the Cashless Driver Government, while Benin Electricity Disco was rewarded with the Cashless Driver Corporate award. Several other firms were rewarded at the event.
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