Inspectors To Examine State Of e-Payment In Nigeria

The state of e-payment in Nigeria will be the focus of discourse at the annual retreat/conference of the Committee of Chief Inspectors of Banks in Nigeria (CCIBN) slated for March 23 – 24, 2012 in Abuja. The theme of this year’s retreat is “E Payment: Fraud Prevention, Strategies and Implementation.

Head, Internal Audit, Stanbic IBTC Bank and Second Vice Chairman of CCIBN, Abas Alhassan, said that the theme was selected because the adoption of electronic payment in Nigeria is relatively new and requires regular appraisal to ensure it operates efficiently.

If the system works seamlessly, the dominance of cash and paper-based activities in the economy will be significantly reduced, with the attendant benefits for the economy, he stated.

As part of activities for the three-day event, the CCIBN Executive Committee would on March 23 make a courtesy visit to the Central Bank of Nigeria (CBN) Governor, Malam Lamido Sanusi, while Deputy Governor of Operations, Mr. Tunde Lemo, is scheduled to present the opening address.

In November last year, CCIBN organised a three-day training programme for banks, discount houses, external auditors and law enforcement agencies in Lagos to support the cashless economy initiative of the Central Bank of Nigeria.

The training programme was aimed at acquainting participants with the dynamics of the cashless economy initiative, ahead of its commencement in Lagos State in January.

CCIBN is primarily saddled with the responsibility of promoting inter-bank co-operation and sustaining high ethical standards in the banking industry.