ADVERTISEMENT
Africanian
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
No Result
View All Result
Africanian
No Result
View All Result
Home Business

Nigeria: Central Bank Launches National Domestic Card Scheme

The initative is aimed at boosting financial inclusion in the country and reducing dependence on foreign cards.

in Business, News, Politics
Reading Time: 1 min read
0 0
0
Nigeria: Central Bank Launches National Domestic Card Scheme
0
SHARES
Share on FacebookShare on TwitterShare via Whatsapp

The Central Bank of Nigeria (CBN) has launched the Nigerian National Domestic Card Scheme, AfriGo, aimed at creating a more robust payment system that would drive financial inclusion in the country.

Read More: Aviation Workers Embark on Indefinite Strike Over Welfare Issues

CBN governor, Godwin Emefiele, has said that transaction charges on all cards would henceforth be paid in Naira, except for international transactions. Emefiele said the card, which will function like other international payment cards, is aimed at boosting financial inclusion in the country and reducing dependence on foreign cards. He added that “by this initiative, will therefore be joining countries like China, Russia, Turkey and India which have launched domestic card schemes and harnessed the transformative benefits for their respective payments and financial systems, particularly for the underbanked.”

Read More: Uganda: President Yoweri Museveni Launches First Oil Drilling Operations

More

China Presents its Version of the Invisibility Cloak

The Synergy of African Innovation and Narrative Alchemy

COP28 – Loss and Damage Fund to Aid Nations Hit By Climate Change

The national domestic card is expected to rival Visa and Mastercard, the market’s biggest players. The announcement follows last year’s decision to phase out old higher denomination bank notes. The new notes came into circulation effect on December 15, 2022.

Africanian

Africanian

  • Trending
  • Comments
  • Latest
Dreams Talks: Aiivon’s Impactful Journey in Empowering African Startups

Dreams Talks: Aiivon’s Impactful Journey in Empowering African Startups

December 1, 2023
Dreams Talks: Empowering Progress with Aquila Ledbetter’s Afrisource Initiative

Dreams Talks: Empowering Progress with Aquila Ledbetter’s Afrisource Initiative

November 8, 2023
Fostering Innovation: Recognizing Africa's Startup Ecosystem Builders at the ASEB Summit and Awards"

Fostering Innovation: Recognizing Africa’s Startup Ecosystem Builders at the ASEB Summit and Awards”

November 29, 2023
China Presents its Version of the Invisibility Cloak

China Presents its Version of the Invisibility Cloak

December 4, 2023
The Synergy of African Innovation and Narrative Alchemy

The Synergy of African Innovation and Narrative Alchemy

December 4, 2023
COP28 – Loss and Damage Fund to Aid Nations Hit By Climate Change

COP28 – Loss and Damage Fund to Aid Nations Hit By Climate Change

December 3, 2023
Africanian

© 2020 - 2023. All rights reserved. The material (including, but not limited to, text, photos, multimedia information, etc.) published on this site is the property of Africanian News. Any use or republication of such content in any form without written authorization from AN is prohibited.

Follow Us

No Result
View All Result
  • News
  • Politics
  • Business
  • Health
  • Sports
  • Entertainment
  • Tech
  • Travel
  • World

© 2020 - 2023. All rights reserved. The material (including, but not limited to, text, photos, multimedia information, etc.) published on this site is the property of Africanian News. Any use or republication of such content in any form without written authorization from AN is prohibited.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Log In

Sign In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Back to Login

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Accept

Add to Collection

  • Public collection title

  • Private collection title

No Collections

Here you'll find all collections you've created before.