Nigeria In One Minute
DIGITAL CURRENCY: ‘CBN not against financial innovations’
The Central Bank of Nigeria says it is not against the use of financial technology as the country steps up efforts to enhance its payment system.
The central bank said it was in support of innovations that would propel e-payment system growth in the country.
The Director, Banking and Payments System, CBN, Mr. Dipo Faitokun, who said these, however, emphasised the need for the regulator to examine the proposed usage of any innovation and put necessary guidelines in place for its success.
He spoke at a breakfast meeting on virtual currencies organised by the Chartered Institute of Bankers in Lagos.
The forum was tagged, ‘Virtual/crytocurrency: Evolution, regulation, challenges and impact on the future of payments and settlement systems’.
Punch, March 3, 2017
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