Nigeria’s Central Bank, the CBN, is set to speak on the major issues confronting the e-payment industry at a Bi-Monthly Forum organised by the Finance Correspondents Association of Nigeria (FICAN).
The event is titled: ‘Electronic Payment Industry, Performance & Regulatory Issues’, it will hold on Saturday, August 5th 2017, at the FICAN Centre, Onipanu, Lagos.
CBN Director, Banking & Payment Systems Department, ‘Dipo Fatokun, who is the guest speaker will address participants on issues that have shaped the electronic payment industry in the last six months. He will equally look at performances of critical stakeholders especially banks and regulators involved in the electronic banking space.Fatokun will be talking on issues around banking security, rising cyber-attacks, and impact of the cash-less banking policy implementation on the economy. There will also be discussions around the Bank Verification Number (BVN) enrollment, mobile banking, internet banking, and how regulators are tackling challenges that come with the execution of these initiatives.
Issues around electronic payment frauds, customer due diligence, and Know Your Customer (KYC) policy guidelines will equally be discussed by the apex bank director.
The association has put forward a statement which says it is aware that banking in Nigeria is becoming highly dependent on technology. This has brought about challenges that need the collaboration of key stakeholders including banks and their customers to be fixed.
The group reiterated that as financial journalists, its members’ survival will depend on how much information is made available by regulators and industry players to them and how they apply such information in the course of carrying out their responsibilities.“The Bi-Monthly Forum has remained an idea-sharing arena where our members and regulators rob minds on issues affecting the banking sector in particular and economy in general. This months’ event will help participants review and understand the performance of the electronic payment industry in the first half of the year,” the statement said.
“We enjoin all members of the association to take part in this forum to enhance their capacity to deliver on their work. We believe that this event will boost information exchange and knowledge sharing among stakeholders and restore the confidence of the banking public on electronic payment platforms,” it said.