Digital payments key to financial inclusion, economic growth — CBN

The Central Bank of Nigeria has urged Nigerians to embrace digital payments, describing alternative payment channels as vital to expanding financial inclusion and supporting economic growth.

According to Peoples Gazette, CBN Governor Olayemi Cardoso said this Tuesday at a stakeholders’ fair in Lafia, Nasarawa State.

Cardoso said digital payment channels support monetary, price and financial system stability.

The CBN said progress had been recorded through mobile money, POS terminals, QR payments, internet banking and instant payments, while more investment is needed in rural infrastructure, cybersecurity, consumer protection and digital literacy nationwide.