News
CBN Unveils Digital Systems To Boost Govt Efficiency
The Central Bank of Nigeria (CBN) has unveiled two digital innovations—the Document Flow System and the Ministries, Departments, and Agencies Naira Payment Solution to boost government efficiency in the country.
The event held on Wednesday at the CBN’s headquarters in Abuja.
The apex bank, in a statement released yesterday, described the projects as part of the “Digital First” transformation initiative launched by the CBN Governor, Olayemi Cardoso, in December 2023.
The statement read, “The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has launched two transformative initiatives, the Document Flow System and the Ministries, Departments, and Agencies Naira Payment Solution.”
Cardoso, in his remarks, stressed the significance of the DocFlow system in overhauling document management processes within the Bank.
He explained that the system aims to digitise operations, reduce paper use, and streamline approval workflows to enhance efficiency.
He also described the MDAs Naira Payment Solution as a vital tool for automating cash withdrawal processes for MDAs, noting its potential to improve service delivery and client support.
Cardoso praised the in-house development of both systems, citing the associated cost savings and their contribution to sustainability through technological progress.
The Deputy Governor of Operations, Emem Usoro, said the launch highlighted the Bank’s commitment to innovation and operational excellence.
She highlighted the MDAs Naira Payment Solution’s benefits, including improved service delivery, reduced errors, and stronger measures against fraud.
The Acting Director of the CBN’s Information Technology Department, Mrs Jide-Samuel, stated that the MDAs Naira Payment Solution had been successfully tested with several MDAs and aligns with the Bank’s goal of “Excellence in Central Banking Operations.”
The statement added, “The MDAs Naira Payment Solution is considered a game-changer in the CBN’s financial transaction management. It is projected to improve payment turnaround time by 70 per cent and further enhance Nigeria’s financial ecosystem.”
News
HoS Hails Fubara Over Provision of Accommodation for Permanent Secretaries
News
Allegation of Disrespect to President Tinubu Unfounded — Rivers Government
News
Rivers Government Dismisses Allegations of Disrespect to President Tinubu
-
Politics14 hours agoPFN Rejects Call For INEC Chairman’s Removal Over Genocide Comments
-
Sports14 hours agoEnekwechi wins Orlen Cup in season opener
-
Rivers14 hours agoFasthire, PHCCIMA, CIPM Host CareerFest 2026 In PH
-
Business15 hours agoNCDMB, Jake Riley Empower 250 Youths On Vocational Skills
-
Sports14 hours agoSimba open Nwabali talks
-
Sports14 hours agoFalconets, Senegalese Lionesses arrive Ibadan for qualifier
-
Niger Delta15 hours agoStakeholders Task INC Aspirants On Dev … As ELECO Promises Transparent, Credible Polls
-
Oil & Energy15 hours agoElectricity Boost: Abia Launches Waste-To-Energy Project
