“The Cash-less Project”, which was launched by the Central Bank of Nigeria last year, is gaining greater acceptance and support from federal and state governments, reported All Africa. The central bank stated at a recent expo that the number of POS devices deployed has increased, as has the technology’s use in the country.
Monica Adoghe, a member of shared services for the central bank, explained that the cashless project’s success is largely attributed to recent partnerships with major stakeholders. She also said legislation plays an important role in improving the future success of electronic payments.
“There are presently two bills before the national assembly; the Payment System Management Bill and the Financial System Ombudsman Bill,” she stated.
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