ABUJA: Nigeria's central bank on Thursday (Jan 26) launched a domestic card scheme to rival foreign cards like Mastercard and Visa, hoping to enhance its drive to make Africa's biggest economy a cashless society and save the country foreign transaction fees. The announcement by Central Bank of Nigeria (CBN
ABUJA: Nigeria's central bank on Thursday launched a domestic card scheme to rival foreign cards like Mastercard and Visa, hoping to enhance its drive to make Africa's biggest economy a cashless society and save the country foreign transaction fees.
Emefiele told a virtual launch of the"AfriGo" card scheme that although penetration of card payments in Nigeria had grown over the years, many citizens remained excluded. AfriGo is owned by CBN and Nigerian banks and Emefiele said that Nigeria was joining China, Russia, India and Turkey in launching a domestic card scheme.
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