Central Bank of Nigeria (CBN), Mr. Godwin Emefiele unveils the first African Central Bank-led National Domestic Card Scheme – AfriGo; says the new card scheme will be accessible to all Nigerians and also address our local peculiarities.
#NationalDomesticCardScheme #AfriGo “The domestic card scheme is expected to strengthen the national payments system and deepen the usage of electronic platforms in Nigeria” - #Emefiele
#NationalDomesticCardScheme #AfriGo CBN Governor, #Emefiele says the Bank’s Cash-less Policy has created value, engendered competition and attracted investment into the Nigerian banking and payments ecosystem.
#Emefiele says the new card scheme is aimed at providing more options for domestic consumers whilst also promoting the delivery of services in a more innovative, cost-effective and competitive manner
The CBN Governor assures Nigerians that the card scheme will open more opportunities for the Nigerian economy to integrate the informal segment of the economy, reduce shadow banking and bring more Nigerians into formal financial services
CBN Governor Godwin #Emefiele hails the Nigerian Banking Community for rising to the challenge of strengthening the national payments system through the implementation of a Domestic Card Scheme.
#NationalDomesticCardScheme #AfriGo “This effort is not a quest to prevent international service providers from continuing to provide services in Nigeria” – Emefiele
#Emefiele says the new policy aimed at providing more options for domestic consumers whilst also promoting the delivery of services in a more innovative, cost-effective and competitive manner.
“CBN is committed to a robust, efficient and safe national payments system and welcomes innovation from both domestic firms and foreign investors,” - #Emefiele.
“We can no longer neglect the vast majority of the Nigerians whose daily payments needs are micropayments. We need to capture them in national statistics to further understand their transaction dynamics and properly target interventions in that sector of the economy” - #Emefiele

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More from @cenbank

Jan 24
#CBNMPC votes to raise MPR by 100 basis points from 16.5% to 17.5%
Retains Cash Reserve Ratio (CRR) at 32.5%, Liquidity Ratio (LR) at 30.0% and Asymmetry Corridor at +100/-700 basis points around the MPR Image
CBN Governor, Emefiele, maintains stance on the January 31, 2023 deadline for the deposit of old N200, N500, and N1,000 banknotes; says CBN staff and bank agents all over Nigeria on sensitization and currency swap with a specific focus on rural areas and the underserved
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#Emefiele says monetary policy will remain focused on the objectives of price, monetary, and exchange rate stability. Image
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Consistent with the global trend, Nigeria aspires to ensure that remittance flows and diaspora investments become a significant source of external financing. #Emefiele
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Manufacturing industries have been a key focus of the efforts by the monetary and fiscal authorities towards driving recovery of the Nigerian economy. #Emefiele
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