- CBN Gov Godwin Emefiele
//ONYEKA-AJUMOBI ONOCHIE//SHARE THIS
The Central Bank of Nigeria (CBN) has revealed that 7,552 Bank Verification Numbers (BVN) have been flagged and put on the watch list as a result of fraudulent transactions.
This revelation came on Tuesday, May 2, 2023, from the CBN Director of Payment Systems Management department, Musa Jimoh, at the 34th seminar for finance correspondents and business editors themed; “Implementing a Robust Payment Architecture: Prospects, Oppourtunities and Challenges” which held in Calabar.
The revelation came on the heels of how suspected fraudsters use accounts for fraud related issues in the dispensation of the cashless policy.
Jimoh explained that even though the issue of cyber threats has affected the confidence of the public, the payment system in Nigeria is robust and provides huge opportunities for economic revival and growth.
He, however, noted that the CBN is in collaborative efforts with major stakeholders in the industry to curb the activities of fraudulent people.
Jimoh, who was represented by the Deputy Director, Payment Systems Management Department at CBN, Adefuye Adeyemi, submitted that despite all the challenges in the payment system, the outlook for the payment system in Nigeria is still robus and provides huge opportunities for economic revival and growth.
Speaking on the theme of the event, Jimoh advanced that “PSV 2025 provide key recommendations on area of focus for the payment industry in the period under scope. The industry keeps attracting new entrants who through innovation, provide new solutions to emerging problems.
“The bank is the gate-keeper to the payment system through its licensing function which helps to ensure only fit and proper persons are admitted into the payment systems, and as such, our focus in CBN will be on strengthening the institutional and regulatory frameworks that will further encourage development of the payment system and promote the usage of secure electronic payment systems enunciated in the PSV 2025 strategic plan.”(agency)/SHARE THIS
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*Resourcing our various platforms targeted at emerging sectors – renewable energy, sustainability, innovation, and healthcare – aimed at ensuring the Authority achieves its dual objectives of delivering financial returns and impactful social outcomes.
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FEDERAL MINISTRY OF TRANSPORTATION
WE MOURN AS A “MARITIME JEWEL” TRANSITS
I received with shock, in the early hours of Saturday 29th April 2023, the passing of Chief (Ms) Barrister Margaret Nkem Onyema-Oriakwusi, a jewel in our nation’s maritime industry and a passionate voice among maritime practitioners at home and abroad.
While we mourn the loss of a jewel, a mother and an Amazon, we pay tributes to her and celebrate a life well-lived. Her veritable contributions to the nation’s maritime growth, particularly in the Trawler business, among many others are worthy of mention. Her highly cerebral views, passionate and endearing work ethic stands her out among her peers, and this we admire. May the Almighty God grant her family and the maritime industry the fortitude to bear this irreparable loss.
May her legacies endure, her memories cherished and her soul rest in perfect peace. Adieu!
Mu’azu Jaji Sambo
Honourable Minister of Transportation
