Emefiele, Bawa, Others Examine Impacts Of Cashless Policy

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, state governors, governors of African  Central Banks and other top stakeholders in the finance industry have concluded plans to brainstorm and discuss the impact of the proposed cashless policy by the CBN at the second edition of Africa Cashless Payment System Conference.

The aim of the meeting is to create a conversation where critical decisions will be made on the future of Africa in the face of Cashless, Digital and contactless Payment Systems such as Debit cards, Credit cards, Electronic funds transfers, Direct Credits, Direct Debits, Internet Banking, Mobile Banking, e-Wallet, Mobile Money, Automated Teller Machines (ATM) and e-Commerce Payment Systems.

Organisers of the event, the Foreign Investment Network Limited (FIN), also disclosed that the second edition of Africa Cashless Payment Systems Conference is to trigger development, implementation of safe, reliable, efficient national payments systems and Financial Market Infrastructures (FMIs) in Africa.

In a statement jointly signed by  Bello Buhari Ibrahim from FIN office in Nigeria and Nii Amarh Amarteifo from Ghana FIN office, the organisers further stated that the gathering is crucial in achieving a secured, affordable, and accessible payment systems and services to help expand financial inclusion, foster development and support financial stability in Africa.

Some of the state governors expected to brainstorm and speak at the event include: Nyesom Wike (Rivers); Babajide Sanwo-Olu (Lagos); Babagana Zulum (Borno), Dapo Abiodun (Ogun); Inuwa Yahaya (Gombe) and Atiku Bagudu (Kebbi).

Also expected to speak on way forward is the chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, minister of Finance, Budget and National Planning, Zainab Ahmed and Minister of Communications and Digital Economy, Prof Isa Ali Pantami and the executive vice chairman/CEO, Nigerian Communications Commission (NCC), Prof Umar Dambatta.

According to the statement, the second edition of Africa Cashless Payment Systems Conference will be the one of the largest fintech conference and exhibition with about 1000 participants.

The statement reads in part, “It will be a stop shop where financial institutions, investors and consumers can access the latest innovations that will underpin the next phase of financial innovation and transformation.

“It will also provide the needed platform for fintech companies and vendors of financial solutions to interface with consumers and policy makers so as to enhance seamless and secured digital financial transaction across the continent with minimal disruptions.

“The conference will bring together the brightest minds from across Africa to discuss Digital Financial Solutions, Cyber Security, e-Commerce, Digital Retail Banking, Payment Systems, Fintech and identity as well as the challenges in the digital market. It will ignite new ideas and inspires the audience to think differently.

‘’Participants will be stimulated by innovators, business leaders and entrepreneurs from across Africa’’.

It added that the goal is to provide an venue for a productive dialogue among digital financial solutions stakeholders where digital product vendors, consumers, the academia, and regulators will brainstorm on mutual concerns and challenges to efficient product deliverables. It will seek to foster collaboration and debate on key Fintech topics including efficient and fair regulation and financial inclusion.

Top dignitaries who confirmed participation for the event include: ‘’His Excellency Mr. Bazoum Mohamed, President of Niger Republic; Mr Farzam Kamalabadi, Chairman and Co-founder, Future Trend Group USA, Mr Sam Lee, Founder, Block chain Center China and CEO of Bitcoin, Hon. Ahmat Jidoud, Honorable Minister of Finance, Niger Republic, H.R.H. Prince Ebrahim, CEO of Royal Africa Holdings, Gambia; Dr. Ian Peter Anderson, CEO of UNASDG International Organization.

Others are; ‘’H.E Frehiwot Tameru, CEO of Ethiopian Telecommunications Corporation; Dr. Ernest Addison, Governor Central Bank of Ghana; Dr. Fabio Scacciavillani, former Executive Director Goldman Sachs, Dr. Isa Ali Ibrahim Pantami, Minister of Communication and Digital Economy (Nigeria), Hon Ken Ofori Atta, Minister of Finance, Ghana, Dr Kevin Bunten VP Operations at Avantu Water Inc. Canada.

The dignitaries also include: Mr Baharu Eurgessa, co- founder, Regional Director, Africa, Asia & GCC, Avantu Inc. Canada, Mr Yared Haile MeMesk, MD, YHM Consulting Plc, Ethiopia, Mr Debay Milion, Area Manager, at Dar Group, Mr. Solomon Mwanba, CEO, Majestic Coin USA, Mr Michael Miebach, CEO, Mastercard UK, H. E. Ahmed Shedi, Minister of Finance, Federal Republic of Ethiopia, Basem Barry, CE0, B A Barry Group, Dubai, UAE and Dr. Kabir, CEO, Office of Sheik Majid Rashid Al Mualla, UAE.