Nigeria to get more efficient payment system
CBN Governor Charles Soludo was quoted as saying that Nigeria desired a payment system that would "not only meet the challenges of the time but also help to propel the economy along desired path. "
In a keynote address at the opening of a three-day seminar in Ibadan, southwest Nigeria on Monday, Soludo said Nigeria would adopt new strategies for revamping the payment system.
Soludo explained that the new strategies included the establishment of clearing houses across the country, sponsoring of legislation to ensure soundness and stability of the banking system as well as the promulgation of Dishonoured Cheque Offences Act and Failed Banks and Financial Malpractices in Bank Act.
He said the bank was poised to make Nigeria the financial hub in Africa and one of the top 20 economies in the world.
"As you are aware, the CBN is determined to make Nigeria Africa 's financial hub. It also desires to realize the dream of making Nigeria one of the world's 20 largest economies by 2020," he said.
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