Анализ перспектив и проблем системы электронных платежей в Нигерии

Abstract

E-payment is an electronic transfer of cash via online transaction for busi-ness-to-consumer (B2C), business-to-business (B2B), person-to-person (P2P), and most recently administration-to-consumer (A2C) purposes. Nigeria payment system has been predominately cash-based. However, the cost of cash to Nigeria's financial system is high and increasing. It is in this respect that the Central Bank of Nigeria (CBN) introduced the cashless policy with the objective of promoting the use of epayment channels instead of cash. The e-payment system apart from convenience and safety also has a significant number of benefits which include faster access to capital, reduced risk of cash-related crimes, access to credit, reduced cash handling costs, increased tax collections, reduced revenue leakage, greater financial inclusion, more service options, encouraged financial deepening and promoted savings, reduced risk in payments and settlements, increased economic development. However, the epayment system is faced with many challenges such as frequent power interruption, lack of adequate infrastructure, platform security, lack of a suitable legal and regulatory framework for e-payments, lack of a uniform platform by banks and ministries, departments and agencies (MDAs), lack of seriousness by bank and resistance to changes in technology among customers. The analysis of prospect and challenges of the epayment system in Nigeria is the mainstream of this paper. Requisite recommendations were provided for policy makers in the light of the theoretical findings.