Mr Emefiele said the establishment of the card scheme is in line with global trends.
Thursday unveiled and officially launched the country’s domestic card scheme.
“The Cash-less Policy which commenced in 2012, signposts our common drive to strengthen the national payment system and deepen the usage of electronic platforms in Nigeria.
On Thursday, Mr Emefiele said the cash-less policy has created value, engendered competition and attracted investment into the Nigerian banking and payments ecosystem. According to him, many Nigerians are still excluded despite the penetration of card payments in Nigeria over the years. The CBN boss stated that the challenges that have limited the inclusion of Nigerians include the high cost of card services as a result of foreign exchange requirements of international card schemes and the failure of existing card products to address local peculiarities of the Nigerian market.
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