• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, July 5, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CBN Advocates Collaboration To Grow Payments Ecosystem

by Olushola Bello
3 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

The Central Bank of Nigeria (CBN) has called for collaboration to grow payments ecosystem in a bid to deepen and stimulate the growth of digital payment in Nigeria.

Advertisement

This was stated at the recently-concluded Interswitch Group two-day event tagged ‘Collaborating for Industry Growth and Profitability’. The industry players gathered to discuss how to strengthen the digital payment ecosystem and position Nigeria as a force to reckon with on the global payment landscape.

The industry leaders, drawn from banks, fintechs, micro-finance banks, telcos and other financial institutions reached the resolve that designing innovative financial products which speak to the needs of customers will spur growth and economic prosperity.

The experts also noted that players in the financial space need to synergise to explore avenues for mutual growth which will in turn create a robust payment ecosystem.

During the course of the two-day event, Interswitch officially unveiled eight new products designed to address prevailing issues within the payment ecosystem, enhance business development and boost customer experience.

RELATED

Nigeria’s Internet Subscribers Reach 148m, Highest In 14 Months

Despite 50% Tariff Hike, Internet Usage Hits 1m TB In May

8 hours ago
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations

Interim Dividend: Stocks Gain N377bn In 1 Week

8 hours ago

The products include; Fintech-in-a-box; Fraud Solution-as-a-Service (FSAAS); Banking-as-a-Service; Payment-as-a- Service; Interswitch Security-as-a-Service; Mobile Banking-as -a-Service and Biometrics on POS and Value financing.

These products are tailored to provide seamless payment solution to banks, fintechs, micro-finance banks, other financial institutions and their customers. Essentially, these products will help to improve the digital payment solutions that financial institutions offer to their customers.

Director, Payment System Management Department, CBN, Jimoh Musa, said the apex bank’s responsibility as a regulator is to create an enabling environment where all the entrants can thrive and compete healthily.

“We understudy all the interoperable operations of each technology company, and all the participants generally. And from time to time, we bring all these entities together to dialogue to enable us to decide what the best industry practice is in relation to Nigeria’s payment ecosystem,” he said.

Speaking during the panel session, managing director, Interswitch Purepay, Akeem Lawal, said players in the payment industry must collaborate to provide opportunities to co-create solutions that make digital payment safer and further drive profitability.

He said: “Interswitch is committed to partnering with stakeholders to continuously drive financial inclusion through its innovative products and solutions. These products reaffirm the company’s continued drive to improving Nigeria’s digital payments landscape through innovation and the development of first-rate solutions and infrastructure that address pressing needs in the payments ecosystem.”

Lawal further said Interswitch will continue to enter partnerships that will not only simplify payments, but also drive prosperity across the continent.

The panelists noted that partnerships will allow players increase revenue and grow faster, avail them opportunities to leverage one another’s infrastructure, drive financial inclusion and build a robust ecosystem.

The panelists also urged players to collaborate more to provide quality service for the end users to enhance growth and more opportunities.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


SendShareTweetShare
Previous Post

JUST-IN: 20 Feared Dead In Kogi Tanker Accident

Next Post

Federal Govt Plans Opening Micro LNG Plants In Communities

Olushola Bello

Olushola Bello

You May Like

Nigeria’s Internet Subscribers Reach 148m, Highest In 14 Months
Business

Despite 50% Tariff Hike, Internet Usage Hits 1m TB In May

2025/07/05
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations
Business

Interim Dividend: Stocks Gain N377bn In 1 Week

2025/07/05
Nigeria Is Top Investment Pick, Says Asia Fund Veteran
Business

Nigeria Is Top Investment Pick, Says Asia Fund Veteran

2025/07/05
Galaxy Backbone, REA Partner To Power Rural Areas
Business

Galaxy Backbone, REA Partner To Power Rural Areas

2025/07/05
Press Release – Response To Allegations Against Segilola Resources Operating Limited By Osun State Gov’t
Business

Segilola Resources Unveils Livelihood Programme For Osun Communities

2025/07/05
Surge In Cost Of Building Materials, Escalating House Rents
Business

Housing Ministry Holds Retreat On Performance Contract Signing

2025/07/05
Leadership Conference advertisement

LATEST

Liverpool Stars Honour Diogo Jota, André Silva At Funeral In Portugal

Chelsea Complete £48.5m Signing Of Gittens From Dortmund

Forget 2027, Presidency Tells Coalition’s ADC

More Than 50% Of Medicines In Circulation Are Fake — Pharmacists

Edo Senator Intervenes In Army-Oghede Community Land Dispute

Oyo SEMA Issues Flood Alert In  3 LGAs, Warns Residents

Federal Gov’t Surmounting Inherited Security challenges — NSA

Burnley Sign Walker From Man City In £5m Deal

BBNaija Season 9 Reunion Ends With Drama, Apologies, Closure

Lagos Street Photo Walks To Spotlight Youth Entertainment, Empowerment

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.