Nigeria’s central bank to address e-payment issues at FICAN Bi-monthly Forum

The Central Bank of Nigeria (CBN) will be addressing key issues confronting the e-payment industry at a Bi-Monthly Forum organised by the Finance Correspondents Association of Nigeria (FICAN).

The event, themed: ‘Electronic Payment Industry, Performance & Regulatory Issues’ is scheduled for Saturday, August 5th,  2017 at the FICAN Centre, Onipanu, Lagos.

The Guest Speaker, Dipo Fatokun, CBN Director, Banking & Payment Systems Department will address participants on issues that have shaped the electronic payment industry in the last six months, looking at performances of critical stakeholders especially banks and regulators involved in the electronic banking space.

Fatokun will be addressing issues around banking security, rising cyber-attacks, and impact of the cash-less banking policy implementation on the economy. There will also be discussions around the Bank Verification Number (BVN) enrollment, mobile banking, internet banking, and how regulators are tackling challenges that come with execution of these initiatives.

Issues around electronic payment frauds, customer due diligence, and Know Your Customer (KYC) policy guidelines will equally be discussed by the apex bank director.

A statement from the association says it is aware that banking in Nigeria is becoming highly dependent on technology. This has brought about challenges that need the collaboration of key stakeholders including banks and their customers to be fixed.

The group reiterated that as financial journalists, its members’ survival will depend on how much information is made available by regulators and industry players to them and how they apply such information in the course of carrying out their responsibilities.

“The Bi-Monthly Forum has remained an idea-sharing arena where our members and regulators rob minds on issues affecting the banking sector in particular and economy in general. This months’ event will help participants review and understand the performance of the electronic payment industry in the first half of the year,” the statement said.

“We enjoin all members of the association to take part in this forum to enhance their capacity to deliver on their work. We believe that this event will boost information exchange and knowledge sharing among stakeholders and restore confidence of the banking public on electronic payment platforms,” it said.