*CBN is passionate about innovative payment systems, says Koyor Flutterwave’s Head of Risk, Africa, Emmanuel Efenure, has said that despite the pandemic-driven growth recorded by the Fintech industry across Africa, there are still more options to consider in recording further growth in the continent.
In his words: “With a population of more than 200 million people trying to move around every day, implementing contactless payment would revolutionize the ecosystem “By replacing card details with information that becomes useless to non-cardholders and hackers, tokenization is a key initiative that could reduce the risk of fraud and help gain consumer trust,” he said.
Branch Controller, Central Bank of Nigeria, Bariboloka Koyor who was one of the panellists who spoke on the role of the CBN in strengthening payments in Nigeria, said: “The Central Bank is passionate about payment systems and innovation in Nigeria. The separation of the banking services into two different departments focusing on banking services and payment systems was a starting point. The regulatory sandbox is another major initiative.