CC Image courtesy of Jrobin08.
The Central Bank of Nigeria (CBN) has partnered with NigComSat to fast-track the bank’s cashless policy through effective and efficient internet services, with the latter to provide Wi-Fi hotspots to local government bodies.
Aaron Yaduma, head of CBN’s Shared Services, announced a memorandum of understanding (MoU) had been drafted while speaking at a cashless policy sensitisation event.
The aim of the partnership, Yaduma said, is to transform national financial services into all areas of the country and to ensure prompt security in the sector.
“Discussion was entered into with NigComSat with the view to exploring other alternatives to the available GPRS network being used for the deployment of point of sales (PoS) terminals.
“In view of the development, an MoU has been drafted for NigComSat to provide Wi-Fi hotspots in the 774 local government areas.”
He revealed a pilot service was conducted in six Nigerian states, with impressive results. He said CBN had planned to use Post Offices as agent centres for cashless transactions and other financial activity in order to leverage on existing assets.
