CBN domestic card scheme, wetin e be?

Di Central Bank of Nigeria (CBN) introduce one new domestic card scheme wey dem call AfriGo.

Di bank say di card go promote more use of electronic platforms.

Inside statement wey di top Nigerian bank post for dia Twitter page, dem dey expect di new scheme to “make di national payment system strong and deepen di usage of electronic platforms for Nigeria.”

Govnor of CBN, Godwin Emefiele, say di Bank Cashless Policy don create value plus encourage competition and investment  to Nigeria banking and economic system and dis new card scheme go provide even more options for domestic consumers.

Wetin be Domestic Card Scheme?

Di Domestic Card Scheme wey di Nigeria top bank launch on Thursday go be rival to foreign cards like Visa and MasterCard.

Na CBN and Nigeria banks be di owners of AfriGo and Oga Emefiele say Nigeria don join kontris like China, Russia, India and Turkey to get dia own domestic card scheme.

Wit dis new AfriGo card scheme, Africa biggest economy dey target to save di kontri foreign transaction fees wey dem dey pay for using foreign cards.

Dis scheme go make am possible for Nigerians to dey in control of dia data plus address part of di challenges wey di kontri dey face wit di use of foreign exchange.

Di scheme go also reduce di abuse wey dey connected wit handling cash.

Beginning wit immediate effect, all card and online transactions go move to di domestic card scheme.

Emefiele explain more

Oga Emefiele say, even though wit foreign cards, card payment for Nigeria don grow over di years, e still get many of di kontri pipo wey dey excluded.

"Di challenges wey bin limit di inclusion of Nigerians include di high cost of card services as a result of foreign exchange requirements of international card schemes and di fact say di fact say di existing card products no address local uniqueness of Nigeria market," Emefiele tok.

Dis one no mean say international card service providers like MasterCard and Visa go stop for Nigeria.

Di govnor say instead di aim of AfriGo na to “provide more options for domestic consumers even as e dey di delivery of services in a more innovative and cost effective and competitive manner.”

Nigeria wit population of more dan 200 million pipo still dey use mainly cash because dem dey live inside villages wia banks no dey.