‘How Nigeria can fast track move from cash, manual economy’ — Business — The Guardian Nigeria News – Nigeria and World News


Cash processing

Some stakeholders in the financial technology sector have highlighted leeway that will enable the sustainable transition of Nigeria’s economy from cash-based and manual activities to a digital economy.

While the country had in place a cashless policy anchored by the Central Bank of Nigeria (CBN), the Federal Government had declared as a priority a move to the digital economy, as the Ministry of Communication has already been tweaked to focus more on communication and digital economy, while new National Broadband Plan which is expected to accelerate the initiative has been launched.

The World Bank in its situation report on Nigeria’s digital economy, published recently, noted that while Digital Economy offers opportunities for countries like Nigeria, improved digital connectivity could only achieve the desired transformational impact on economic opportunity and inclusive growth if combined with improvements in digital skills and literacy.

The global bank had…

Source: Guardian Newspaper