The Central Bank of Nigeria’s (CBN) Lagos Branch Controller, Mr. Sunday Daibo, has urged Nigerians to embrace alternative payment channels as essential tools for financial inclusion and economic growth.
Speaking at the CBN Fair in Lagos, themed “Inspiring Team: Driving Alternate Payment Channels as Tools for Financial Inclusion, Growth, and Accelerated Economic Development”, Daibo said technology is transforming how people access financial services, breaking barriers of distance, cost, and complexity.
He pointed to mobile money, agency banking, USSD codes, internet banking, contactless payments, the central bank’s digital currency, and open banking as platforms connecting millions to the formal economy. “When a farmer in a remote village can get paid instantly, or a small business can sell online and receive secure payments, that is inclusion in action,” he said.
The fair showcased live demonstrations, policy discussions, and success stories highlighting the power of these channels. Daibo called for stronger collaboration between regulators, financial institutions, fintechs, and the public to expand access nationwide.
He urged participants to turn ideas from the fair into action, ensuring alternative payment channels reach every corner of Nigeria, empowering citizens and strengthening the economy.
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