The Central Bank of Nigeria (CBN) has concluded the initiative to implement the electronic payment of government suppliers, all forms of taxes, salaries and pension in Nigeria.
The CBN  in a statement made available to BusinessWorld said the added the initiative would kick off by January 2, 2012.
Mr. Emmanuel Obaigbona, head, domestic payment, CBN, was quoted as saying at a stakeholders’ forum in Port Harcourt that the initiative was in regard to the presidential directive in 2009.
Obaigbona said, “In regards to the objective of National Payment System Vision 2020, the initiative tends to develop a payment system that is nationally utilized and internationally recognized.
“In as much as other stakeholders are in support of the initiative, the CBN has the responsibility to create awareness of the new system, have the oversight function over other banks, and ensure compliance with guidelines concerning e-payment services”, he said. He added that the system would reduce corruption in banks and public sectors and save them from exposing their money in cash to armed robbers.
“You know there are a lot of problems with cash, corruption for instance, it will help to reduce corruption in the system and the frequently of robbery attack on banks bullion vans will stop”, he said.
Also speaking at the programme, Project Manager PVS2020, CBN, Mr. Sam Okojere, said there were about eleven working groups on the e-payment system, adding that they would start with sectors and people who had over 50 employees.