As part of efforts to reshape the Nigeria’s payment landscape, the Central Bank of Nigeria (CBN) has unveiled the Nigerian national domestic card scheme.
The CBN Governor Godwin Emefiele who disclosed this at the virtual launch said the domestic card scheme is expected to strengthen the national payments system and deepen the usage of electronic platforms in Nigeria.
He maintained that the new scheme is set to provide more options for domestic consumers and promote the delivery of services in a more innovative, cost-effective, and competitive manner.
Emefiele is also assured Nigerians that the move will bring more opportunities to integrate the informal segment of the country’s economy, reduce shadow banking and bring more people into formal financial services.
He lauded the Nigerian banking community for rising to the challenge of strengthening the national payments system through the implementation of a Domestic Card Scheme.
He added that the effort is not a quest to prevent international service providers from continuing to provide services in Nigeria
According to him, the policy targeted at providing more options for domestic consumers will also promote the delivery of services in a more innovative, cost-effective, and competitive way.
He said the CBN is committed to a robust, efficient, and safe national payments system and welcomes innovation from both domestic firms and foreign investors.