The value of electronic payment transactions has risen by 39.7 per cent to N99.29 trillion in one year, the Annual Economic Report of the Central Bank of Nigeria (CBN) has shown.
The 2017 figure was an improvement compared with N71.1 trillion in 2016. The rise was attributed to increased consumer awareness and confidence in e-payment channels.
Speaking on the report and economy, CBN Governor, Godwin Emefiele said 2017 was an enthralling and exerting one for the apex bank and for the Nigerian economy on the whole.
The report showed that CBN received 2,236 scam e-mails and acted promptly to protect unsuspecting people in Europe, South America, Asia and Africa from falling victims of spurious contracts. Fifty-nine (59) complaints were received from members of the public against commercial banks; some of Which were handled by the Bank and others referred to the Economic and Financial Crime Commission (EFCC), for necessary action.
A total of 14 local and foreign calls were received through the whistle-blowing helpline, and treated, accordingly. Employees were sensitised to comply with the Code of Conduct Bureau (CCB) Act on Asset Declaration.
Also, the consciousness of employees was re-awakened on the provisions of the Code of Business Ethics and Conduct (COBEC) and compliance monitored. A total of 5,436 and 6,065 employees of the Bank signed the COBEC Acknowledgment and Oath of Allegiance and Secrecy Forms (Forms EO I and EO III), respectively.
On Anti-Money Laundering and Combating Financing of Terrorism, the CBN AML/CFT Policy and Procedure Manual was developed. Furthermore, the Bank collaborated with internal and external stakeholders and participated at the bi-monthly meetings of the Compliance Officers of Banks in Nigeria (COBIN), where regulatory and law enforcement agencies, concerned with the AML/CFT issues, meet to enhance cooperation among member institutions.