CBN Head Office, Abuja.
Abimbola Akosile and Obinna Chima
Head, Payment Systems Development Group, the World Bank, Mr. Massimo Cirasino, is billed to visit Nigeria, in October, to speak on the current cashless policy of the Federal Government, at a conference in Lagos.
Cirasino would be speaking alongside the Vice-President, Global Mobile Solutions, Citibank, USA, Mr. Kevin Brown. The conference is being organised by De Novo (a strategy brand and media firm) and Legal Reach, a UK law firm.
The two-day programme, sponsored mainly by the Central Bank of Nigeria (CBN), focuses on the country’s transition to a cashless society, with respect to the possibilities and challenges.
Slated for October 8 and 9 at the Lagos Oriental Hotel, Lekki, Lagos, the conference is expected to bring together experts in the global payments industry, who would provide insight and present key developments from other jurisdictions, to benchmark the way forward.
Experts, drawn from various relevant sectors of the economy like banking, manufacturing, telecommunications, services, and even the informal sector, and from outside Nigeria, would be meeting and deliberating on the issues surrounding the cashless policy.
Key speakers at the forum include Executive Governor of Lagos State, Babatunde Raji Fashola SAN; Governor, CBN, Mallam Lamido Sanusi, Attorny General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke, SAN, Minister of Communication & Technology, Mrs. Mobola Johnson; and top relevant members of the National Assembly.
The CBN governor is expected to open the conference, while banks, telecoms companies, e-payment service providers, law firms, etc are expected to participate. Lagos is the pilot state for the cashless programme.
The conference focuses on the following themes: ‘Infrastructure for an effective and resilient system’, ‘Security strategies to combat fraud and money laundering’, and ‘Developing appropriate legal and regulatory framework for electronic payments’.
Other themes include ‘Deploying effective mobile payment services’; ‘Financial inclusion - Access to payment services’; ‘Consumer and retailer adoption’, and ‘Facilitating e-Business and e-Government through e-payment initiatives’.
The forum also aims to identify and examine factors required for a successful implementation and operation of the cash-less policy in Nigeria.
It provides the platform for policy debate whilst drawing on international comparators and global best practices, and the forum to discuss the risks and challenges associated with deploying electronic and mobile payment systems and potential solutions.