Wednesday, June 12, 2024
Home Uncategorized CBN, CBE SET UP NIGERIA-EGYPT FINTECH BRIDGE

CBN, CBE SET UP NIGERIA-EGYPT FINTECH BRIDGE

The Central Bank of Nigeria (CBN) and the Central Bank of Egypt (CBE) have signed a memorandum of understanding (MOU) to establish a Nigeria-Egypt FinTech Bridge.
The signing ceremony, which took place at the Seamless North Africa 2023 conference at the Egypt International Exhibition Center, Cairo, comes after a series of engagements on issues around payment systems, financial technology, and financial inclusion in Africa.

Speaking at the event, the CBN Deputy Governor, Financial System Stability, Aishah Ahmad, who signed on behalf of the CBN, says, the Bank was extremely excited by the partnership with the Central Bank of Egypt, which followed several months of engagement on payments, fintech and financial inclusion.

“We look forward to cultivating an innovative space for fintech startups and entrepreneurs in Egypt and Nigeria to accelerate financial inclusion, deepen our payment systems and drive economic growth across the African Continent,” Ahmad said.

Also speaking, the Deputy Governor of the Bank of Egypt, Rami Aboulnaga, commended the MOU and expressed optimism that the partnership would yield the desired expectation.

The ground breaking partnership between the apex banks of the two largest economies in Africa encompasses a broad range of collaborative initiatives, including joint regulatory innovation projects, coordinated licensing and supervisory frameworks, information sharing, fintech cross referrals and talent development.

The conference was hosted by the Central Bank of Egypt and had in attendance over 4,000 policymakers, payment service providers, financial institutions and technology startups from Egypt, Nigeria and across the African continent.

RELATED ARTICLES

FG SETS TO DEEPEN BILATERAL RELATIONS WITH TANZANIA

The Permanent Secretary Ministry of Defence, Dr. Ibrahim Abubakar kana, says,  Nigerian Government will continue to deepen military bilateral relations with the Tanzanian government. Dr...

NIGERIA CUSTOMS ENGAGES STAKEHOLDERS ON PORT DECONGESTATION, 48- HOUR CARGO CLEARANCE

The Comptroller-General of Customs, Adewale Adeniyi on Monday, 6 November 2023, in Lagos, convened a meeting with stakeholders to address the urgent need for...

INTER-AGENCY PARTNERSHIP: ACTING CUSTOMS CG RECEIVES PRESIDENTIAL AMNESTY PROGRAMME’S LEADERSHIP, ASSURES STRONG COLLABORATION

  In his continuous effort to enhance trade in Nigeria through the implementation of new policies that will consolidate the country's economy, the Acting Comptroller-General...

Most Popular

NNPC LTD.,GOLAR LNG, SIGNS PDA ON 400-500MMSCF GAS DEAL.

In furtherance of its commitment to monetize Nigeria's vast natural gas resources, the NNPC Limited has executed a Project Development Agreement (PDA) with Golar...

CHIEF OF ARMY STAFF DIRECTS  IMMEDIATE INVESTIGATION OF INCIDENT AT COMMAND SECONDARY SCHOOL IYANA IPAJA.

In response to the recent concerns raised by the Association of Senior Civil Servants of Nigeria (ASCSN) regarding the treatment of civilian workers at...

LICENSE REVOCATION : CBN COUNTERS CLAIM OF MORE LICENCE REVOCATION.

The Central Bank of Nigeria (CBN) has reassured members of the banking public of the safety of their deposits and the banking system's resilience....

SON HOSTS MEETING WITH OPERATORS OF THE SPECIAL ECONOMIC ZONES. 

The Standards Organization of Nigeria (SON), hosted operators of the Special Economic Zones to discuss grey areas surrounding the implementation of the Special Economic...

Recent Comments