E-Financial
E-PPAN Intensifies Grassroots Mobilization on Cashless Initiative
With the nation-wide implementation of cashless policy introduced by the Central Bank of Nigeria (CBN) on July 1, 2014, the E-Payment Providers Association of Nigeria (E-PPAN) has intensified its Grassroots Mobilization to ensure the initiative meets the targets.
Mrs. Onajite Regha, executive secretary and chief executive officer of E-PPAN, said that the nationwide implementation amongst others will spur development and modernization of the payment system in line with vision 2020.
According to her, the measure will lead to reduction in the cost of banking services and drive financial inclusion as well as improve the effectiveness of monetary policy in managing inflation and driving the economic growth.
Ntia Nnene Sylvia, media and strategy development manager at E-PPAN, in a statement said that the grassroots mobilization, this time, took E-PPAN to Enugu, Cross River and Edo States.
Meanwhile, E-PPAN believes that, “Besides, there is the need for the country’s monetary system to fall in line with standard practices obtained across the world which the cashless policy exemplifies.
With all these in mind, the E-PPAN whose overarching goal is to enhance institutional frameworks and processes for a robust and effective e-payment system in Nigeria aligned its strategies with the objectives of the CBN to mobilize and sensitize the grassroots on the cashless initiative, Regha said.
“This was to get the total support and full commitment of the people at the bottom of the pyramid in order to actualize the laid down objectives of the apex bank in its Cashless initiative drive.
“The last wave of the sensitization exercise which saw E-PPAN touring through the cities, towns, villages, and communities in Cross River, Edo and Enugu state, gave the team the opportunity to experience firsthand the challenges of not being included in the financial mainstream and the opportunities that lie fallow in converting these challenges to solutions that can revolutionarize the payment industry, particularly with the advent of mobile payment which came as an exciting channel for everyone the team came across.
Giving accounts on the outing the E-PPAN CEO said, the grassroots sensitization in Enugu state commenced with a visit to all the major media outfits.
“This was to create awareness and also enlighten the listeners and viewers alike on the cash policy and the activities of the sensitization team in the state.
“After the media sessions the team then moved into the markets for proper sensitization of the grassroots in Enugu state. The first point of call for the team was the Night Mile Market,” she said.
In Cross River State, Regha, said that the people awoke to the news of the cashless initiative as they watched the live interview on their popular breakfast morning show.
The team which was made up of the Branch Controller Central Bank of Nigeria Cross River State and the E-PPAN representative spoke extensively on the benefits of the cashless initiative to the people of cross River state.
After the discussion, the viewers called to ask numerous questions on the implication of the cashless initiative to the ordinary man and its benefits as well as disadvantage if any.
The team also visited Edo State. The sensitization in Edo took off at the Edaiken Market at Uselu in Egor Local Government Area.
With the presence of the market women leader, the enlightenment kicked off at the car park within the market which lasted for about two hours.
The team then moved on to Uwelu Auto Spare Parts Market and Mechanic village. In attendance was the Chairman, executives and members of the traders union.
It was observed that apart from hearing of the term cashless Nigeria on radio adverts, they had no clue as to what the policy means, how it applied to them and its benefits.
After the sensitization session, the people were excited by the electronic payments options available as an alternative.
“At the popular Lagos Street Market which is at the city centre, the team met with the community Head, Chief Osula (the Arala of Benin kingdom) who listened to our purpose of coming. He addressed the teaming youth, the market executives and all who gathered at the meeting ground imploring them to pay attention to the good news that the team brought.
“Being the Community market day at Aduwawa, the team went there and kicked off the exercise with a visit to the Odionwere (Eldest man of the community) Chief David Osemunekha.
“The Aduduwa people who came out in mass were entertained by our professional dancers prior to to delivering the cashless message to the traders.
Interestingly, the team carried out live demo on the use of the PoS and Mobile Payment.
Independent revenue remittance by the Government-Owned Enterprises (GOEs) moved from ₦200 billion in 2013 to over ₦2 trillion in 2024, Fiscal Responsibility Commission (FRC) confirmed the updated figure, on Wednesday.
FRC attributed the surge to collaboration between it and House of Representatives Public Accounts Committee (PAC).
Speaking at 2025 National Conference on Public Accounts and Fiscal Governance, held at the Transcorp Hilton, Abuja, Executive Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, Esq however notes with concern persistent challenge despite achievements. He cited weak enforcement mechanisms, limited public awareness, and the slow domestication of the FRA at the subnational level as according to him, only 26 out of 36 states have adopted similar laws.
He advocated for the establishment of a National Fiscal Governance Framework to improve coordination and strengthen audit and oversight structures.
Muruako further underscored the need for strict adherence to constitutional provisions, particularly regarding public debt and borrowing, which remain under the exclusive legislative list. He urged federal and sub-national actors to align their fiscal policies under the renewed hope agenda of President Tinubu’s administration.
Muruako called on state and local government operators across Nigeria to adopt and fully implement fiscal responsibility laws in line with the federal framework.
The event organized by House of Representatives Public Accounts Committee (PAC), brought together key financial stakeholders to discuss strategies for promoting transparency and sustainable development in Nigeria’s public financial management.
He lauded administration’s of president Bola Ahmed Tinubu commitment to strengthening financial policies aimed at driving economic growth. He emphasized that states and local governments must “key into” the Fiscal Responsibility Act (FRA) to ensure fiscal discipline and alignment with federal financial standards.
Highlighting a critical legislative gap, Muruako noted that the FRA 2007 currently outlines 54 offenses but does not prescribe punishments for offenders. He called for the urgent amendment of the Act to include stronger penalties, thereby enhancing compliance and service delivery.
“The Act must be amended speedily for efficiency and to deliver real value to Nigerians,” he stressed.
He congratulated the PAC, led by Hon. Bamidele Salam, for hosting the conference, which he described as a pivotal step toward strengthening accountability in the public sector.
He advocated for the establishment of a National Fiscal Governance Framework to improve coordination and strengthen audit and oversight structures.
Muruako further underscored the need for strict adherence to constitutional provisions, particularly regarding public debt and borrowing, which remain under the Exclusive Legislative List. He urged federal and subnational actors to align their fiscal policies under the Renewed Hope agenda of President Tinubu’s administration.
Reaffirming the FRC’s commitment to advancing transparency and reducing financial leakages, Muruako pledged continued support to the PAC in institutionalizing sound public financial management practices.
He also congratulated the committee for securing Nigeria’s hosting rights for the 2025 West African Association of Public Accounts Committees (WAPAC) Annual Conference, describing it as a testament to Nigeria’s leadership in regional fiscal governance.
PalmPay, a leading digital banking platform in Africa has announced the launch of strategic partnerships with top-tier insurance providers to offer accessible, affordable and simplified insurance products directly within the PalmPay app.
This initiative reflects the brand’s continued commitment to deepening financial inclusion and underscores its mission to improve the wellbeing of everyday Nigerians.
With only about 8.9% of Nigerians currently covered by any form of health insurance, the country remains one of the least insured populations in Africa. Barriers such as low awareness, affordability challenges, and trust issues continue to hinder broader adoption of insurance products.
PalmPay’s new insurance offering directly addresses these challenges by simplifying the purchase and management of insurance policies within the app. The PalmPay insurance feature is designed to make essential coverage, from health to device, and life insurance easily accessible at affordable prices, eliminating the traditional complexities often associated with insurance.
“Insurance is often perceived as complex or inaccessible, especially among underserved communities.” said Habib Kowontan, Head of Wealth Product at PalmPay. “Through these partnerships, we aim to break down those barriers by offering simple, reliable and affordable insurance options that are easily accessible within the PalmPay app.”
With over 35 million users across Nigeria, PalmPay continues to evolve as a smart, consumer-first digital banking platform. The integration of insurance services complements its growing suite of offerings, which includes transfers, bill payments, high-interest savings, and debit card services, making PalmPay one of the most comprehensive digital banking platforms in the African market.
“Our goal at PalmPay is to remove barriers and make essential services easily accessible to everyone,” said Mr Chika Nwosu, Managing Director of PalmPay. “Through these strategic partnerships, we’re expanding our services to be more inclusive and empowering our users with products that will positively impact their lives and finances.”
This rollout marks a significant milestone in PalmPay’s broader strategy to empower users with tools that enhance their daily lives. Building not just a payments app, but a smart and trusted financial partner for millions of Nigerians.
In a timely gesture aimed at improving the plight of internally displaced persons (IDP) in Benue State, leading financial institution, Fidelity Bank Plc, has distributed mattresses and essential food items to over 2,000 victims of the Yelwata attacks currently taking refuge at the Ultra-Modern International Market IDP Camp in Makurdi.
Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka (Left); CEO, The Abbasid Charity Foundation, Hauwa Abbas (Centre); and Branch Leader, Fidelity Bank Plc, Makurdi, Terwase (Right), representing the Regional Bank Head, North Central, Sadi Zawiya, with some beneficiaries during the Fidelity Food Bank distribution event in Makurdi, Benue State recently.
The donation, which was carried out in collaboration with the Abbasid Charity Foundation, is part of Fidelity Bank’s ongoing commitment to supporting vulnerable communities through its flagship Fidelity Food Bank program. Since its launch in April 2023, the Food Bank has distributed over 200,000 food packs to beneficiaries across Nigeria’s six geo-political zones.
Speaking about the donation event, the bank’s Divisional Head, Brand and Communications, Dr. Meksley Nwagboh reaffirmed Fidelity Bank’s dedication to Corporate Social Responsibility (CSR) and its mission to uplift communities.
His words, “Since its launch, the Fidelity Food Bank initiative has helped to alleviate the effect of poverty and malnutrition across the country. We are honored to be back in Benue State to continue this impactful initiative, and we hope that today’s donation brings much-needed relief and comfort to the beneficiaries during this difficult time”.
In her remarks, the Executive Officer, the Abbasid Charity Foundation, Mrs. Hawa Abbas, emphasized the importance of restoring dignity to the displaced, stating that the donation of mattresses was to ensure the IDPs no longer sleep on bare floors.
“This gesture is our way of letting the displaced persons know that they are not forgotten. We care deeply for them, and we hope this donation offers some comfort and hope, even in these difficult circumstances,” Abbas noted.
The Executive Secretary of the Benue State Emergency Management Agency (SEMA), Dr. James Iorpuu, who was represented by Camp Manager, Mr. Robert Nyom, expressed deep appreciation to Fidelity Bank and the Abbasid Charity Foundation for their timely support.
“Your intervention has brought much-needed relief to the camp and we thank you for your compassion and generosity towards improving the welfare of the displaced persons,” he said.
The bank’s outreach to the International Market IDP Camp in Makurdi represents the most recent of its ongoing critical and timely interventions. Previously, through its Food Bank Initiative, the bank provided essential food items to more than 1,500 residents impacted by the recent flood disaster in Mokwa, Niger State.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
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