With the transformations going on in the global financial services sub-sector through digital technology, Nigeria is set to accelerate the growth in its payment system industry.
In pursuant of this, the e-Payment Providers Association of Nigeria (e-PPAN) is set to host the 7th Annual e-Government Government Summit. The focus for this year’s event, which is billed to hold on the 24th and 25th of July at the Shehu Musa Yar Adua Centre, Abuja, is on Financial Inclusion.
The e-Government Summit 2018 is designed to bring decision makers and thought leaders in the private and public sector on a single platform to discuss, network and set an agenda that will promote financial inclusion for sustainable economic development.
According to the organisers, the motive for this year’s summit is to identify policy interventions, identify new financial technology solutions that will accelerate the onboarding process for the unbanked population, linkages between Public-Private sectors to address gaps within the systems and recommend short, medium and long-term initiatives for financial inclusion drive at the bottom of the pyramid. With the ever-improving cutting edge technology, the unbanked will be drawn to the financial landscape to reap the benefit inherent. “Our objectives and deliverables are designed to help public and the private sector in a public-private partnership take advantage of the enormous opportunities this presents.”
The statement continues: “Digital technology is transforming the financial services landscape. Developing country governments in Asia and the Pacific are exploring ways to encourage their populations to use the key instruments of financial inclusion: payment system, credit, savings, insurance, pension, savings, and investment. By creating such an ecosystem, they can help expand access to affordable financial services to the financially excluded. The emergence of new digital technology, including Fintech, can ensure financial inclusion and improve financial wellbeing.”
Members of the Planning Committee for the event are the Central Bank of Nigeria (CBN), Nigeria Inter-Bank Settlement Systems (NIBSS), Federal Mortgage Bank of Nigeria, Nigeria Postal Service, E-PPAN, Galaxy Backbone Ltd, Xpress Payment Solutions Ltd and Ecobank Nigeria.
This year’s event will host local government workshop for State and local governments’ participants on the need for financial inclusivity and how to grow their revenue (IGR) when citizens are financially inclusive in the scheme of things.
Participants will be drawn from key stakeholders in financial services in Ministries, Departments and Agencies (MDAs) such as Ministry of Communications, Central Bank of Nigeria, Office of Secretary to the Government (OSGF), Security Exchange Commission, NIPOST, Federal Mortgage Bank of Nigeria, NITDA, NIMC, NDIC, Ministry of Finance, Federal Ministry of Women Affairs and Social Development, NIBSS, Commercial Banks, the 774 local governments and private sector participants.