Vision 2020 Realisable – CBN

The Central Bank of Nigeria (CBN) has said that the vision 2020 for Nigeria was achievable if diligently pursued.

The bank recommended that government should follow global trends and adopt best practices in its effort to achieve the vision.

Delivering a lecture entitled: “Recent Development in the Nigerian Payment System,” at this year’s Customer Forum held at the Osogbo branch of the CBN, the bank’s principal manager, Banking and Payment System Department, Abuja, Mr Emmanuel Etim Udoh, disclosed that government has set up an 8-man committee to ensure that the vision is prosecuted and made achievable by ministries and agencies of government.


According to him, the objective of the introduced National Payment Systems (NPS) was to make the system available, transparent and meet the needs of users without interruption, at minimum risk and reasonable cost. Udoh stated that the payments system plays a very crucial role in any economy, being the channel through which financial resources flow from one segment of the economy to the other, stressing that the core objective of the strategy which was launched in 2007, was to ensure an efficient payments system that would be nationally utilised and internationally recognised.

Earlier, the Osun State branch controller of the CBN, Mr Macpherson Efetabore, said effective and efficient service delivery was a global phenomenon that epitomises everything that concerns the satisfaction of the customer, adding that the CBN cannot be left out in its strategic business objectives in line with its vision and mission. Efetabore maintained that the bank, in its efforts to be one of the best in a very dynamic environment has put in place best global practices, adding that it is in the light of the foregoing that, the Branch Operations Department, with the approval of the director, Alhaji Mahmoud Kudu Umar, deemed it fit to bring together some of the bank’s key customers in Osun State to drive home the CBN passion for always thinking of and wanting to satisfy its customers.”

According to Udoh, for Nigeria to achieve its Vision 20:2020 aspiration, it must follow the global trend and adopt best practices. The CBN is at the forefront of ensuring the efficiency of electronic payments and other payments initiatives evidenced through various policies and circulars that it has churned out to facilitate the development of the system.


Credit:  Leadership.ng/