CBN to upgrade Nigeria’s payment system

The Central Bank of Nigeria (CBN), may soon commence the upgrading of the nation’s payment systems for the purpose of ensuring its compliance with acceptable global standards. The bankers’ bank in a communiqué posted on its website yesterday, said the move would ensure the nation has a stable financial system. “In order to fulfil its statutory mandate of ensuring a stable financial system, and as part of the Payment System Vision 2020, the CBN is desirous of implementing a new Real Time Gross Settlement (RTGS) system that is of international standard”, the communique said.
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