Business & EconomyCBN rewards e-banking users, debunks allegation of sanction against...

CBN rewards e-banking users, debunks allegation of sanction against non-users By; Alex Uangbaoje, Kaduna.

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CBN rewards e-banking users, debunks allegation of sanction against non-users
By;  Alex Uangbaoje, Kaduna.
Central Bank of Nigeria (CBN) has debunked an allegation that it will sanction bank customers who are have refused to embrace electronic banking system, but rather rewarding e-banking users to attract and encourage more people into the platform.
“Globally the use of card dominates payment system but the use of cash in Nigeria is higher than global average, that is why we are encouraging the use of alternative ‎mode of payment outside cash.
“Now, there is not going to be sanction for non-use of ‎electronic mode of payment, but our focus is to deepen payment and to encourage alternative mode outside cash.”
Mr. Dipo Fatokun, Director, ‎Banking and Payment system department, CBN, made this known in Kaduna during the presentation of cash reward to the winners of September and October of CBN e-payment Incentive Scheme.
Dipo explained that the cash reward is the third and fourth edition of the series which started in Lagos on August 10, this year after the CBN had approved an industry wide incentive scheme and awareness campaign for electronic payments for stakeholders and users.
“The scheme is primarily focused to reward users of electronic payment in Nigeria and appreciate usage across all channels with emphasis on channels of electronic payments that promote financial inclusion by aiming to identify and reward the card-holders, merchants and sales persons.
‎”In order to spice up a reasonable level of awareness and excitement in anticipation of the ‘Loyalty Programe for card-holders and salesperson’ which is scheduled to Go-Live this November, we proposed an EPIS monthly Raffle Draw Initiative targeted at all card users for Point of Sales (POS) transactions within the Nigerian e-payment ecosystem.” he said.
‎In his keynote address, CBN Deputy Governor Operation, Alhaji. Suleiman Barau, assured users of electronic payment system of their safety, adding that “CBN has consistently issued directives to forestall the activities of fraudsters and strengthen the security of electronic payments in Nigeria.
‎”We are also collaborating with law enforcement agencies to ensure that no fraudster get away with the funds of electronic payments users. We are aware of the rights of users of electronic payments and have put appropriate mechanism in place to ensure that customers have pleasant experiences using electronic payments.
‎”CBN and in conjunction with banks and payments service providers is committed to improving the availability of the electronic payments services across various channels.”
A total of one million, five hundred thousand naira (N1, 500,000) was given to ten (10) beneficiaries as a reward for the months of September and October.

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