Nigeria: Experts to Brainstorm On Cashless Policy
By Abimbola Akosile, This Day
Experts drawn from various relevant sectors of the economy and from outside Nigeria are poised to meet and deliberate on the issues surrounding the cashless policy.
The two-day programme, being organised by De Novo (a strategy brand and media firm) and Legal Reach a UK law firm, and sponsored mainly by the Central Bank of Nigeria (CBN), is focusing on the country’s transition to a cashless society, with particular attention paid to the possibilities and challenges.
It is billed to deliberate on the following themes: ‘Infrastructure for an effective and resilient system’, Security strategies to combat fraud and money laundering’, and ‘Developing appropriate legal and regulatory framework for electronic payments’.
Other themes include ‘Deploying effective mobile payment services’; ‘Financial inclusion – Access to payment services’; ‘Consumer and retailer adoption’, and ‘Facilitating e-Business and e-Government through e-payment initiatives’.
The forum aims to identify and examine factors required for a successful implementation and operation of the cash-less policy in Nigeria.
It provides the platform for policy debate whilst drawing on international comparators and global best practices, and the forum to discuss the risks and challenges associated with deploying electronic and mobile payment systems and potential solutions.
The 2-day programme, billed for October 8 and 9 at the Lagos Oriental Hotel, Lekki, Lagos, is expected to bring together experts in the global payments industry who will provide insight and present key developments from other jurisdictions which can be used to benchmark the way forward.
The CBN governor is expected to open the conference, while banks, telecoms companies, e-payment service providers, law firms, etc are expected to participate. Lagos is the pilot state for the cashless programme.
Other topics to be treated exhaustively at the forum include ‘The Mobile Money Landscape: Potentials and Barriers. Case study comparison: Kenya and Uganda’; ‘The Legal Framework: Creating an Appropriate Regulatory Environment for electronic and mobile commerce’; and ‘Regulation v Competition: Considerations in deciding to Regulate or allow Market Forces to drive competition’.
Key speakers at the forum include Executive Governor of Lagos State, Babatunde Raji Fashola SAN; Governor, CBN, Mallam Lamido Sanusi, AG of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke, SAN, Minister of Communication & Technology, Mrs. Mobola Johnson; and Chairman, Senate Committee on Banking, Insurance and other financial institutions, Senator Prince Bassey Otu.
Others include Chairman, Senate Committee on Telecommunications, Senator Gilbert Nnaji; Chairman, House of Representative Committee on Banking and Currency; Hon. Chukwudi Jones Victor Onyereri; Chairman, House of Representatives Committee on Information & Communication Technology, Hon. Ibrahim Shehu Gusau; Chairman, House of Representatives Committee on Telecommunications, Hon. Oye Ojo; and Head, Payment Systems Development Group, The World Bank, Massimo Cirasino.
Speakers also include Co-Creator of M-Pesa and CEO SJL Limited,UK, Susie Lonie; Vice-President, Global Mobile Solutions, Citibank, USA, Kevin Brown; Senior Vice President, Fraud Management, Risk, Compliance and Corporate Services Division, VISA, Peter Bayley; Professor Emeritus Howard Williams, University of Strathclyde; and Henrietta Efun Abraham, Partner, Reach Legal, UK.