*NCC committed to Government’s 80% adults target by 2020
IT NEWS NIGERIA:
Executive Vice Chairman of Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta has announced that he will ensure responsive regulation and integrity of telecoms infrastructure network that support innovative payment platforms driving Financial Inclusion in the country.
NCC boss revealed this on Tuesday at the onging Digital Pay Expo 2018 in Lagos.
Danbatta, who spoke on the theme: “Enabling Financial Inclusion: A multi-Agency Approach”, said ” the Commission is aware that regulations are ever changing , including those for financial inclusion globally, adding “we are in no way averse to supporting the dynamism of financial inclusion service provision, however, it is of utmost importance to ensure the integrity, security and resilience of the telecoms infrastructure networks at all times.”
EVC , who was represented by Deputy Director, Policy, Competition and Economic Analysis Department, NCC, Mr Bashir Idris, explained that NCC is mindful of the huge integrity demand and reliability of Nigeria telecoms infrastructure that support the innovative digital payment platforms in the country.
“NCC has ensure that telecoms infrastructure is continuously upgraded , expanded and made robust to enhance amongst others things the delivery of digital financial innovation and services in Nigeria,” he said.
NCC, he said, has been committed to the implementation of the Federal Government’s Natioal Financial Inclusion Implementation target of 80% of adult Nigerians by 2020 as evident in NCC collaboration with CBN.
That is why, according to the EVC, the Commission has established a Financial Inclusion Desk in the Policy, Competition & Economic Analysis Department to anchor and interface with the CBN and other stakeholders in the digital financial ecosystem on all policy and regulatory issues regarding Financial Inclusion.
Recalled, NCC recently signed a Memorandum of Understanding (MOU) with Central Bank of Nigeria on Payment Systems in Nigeria.
The MoU takes serious cognizance of very crucial areas of collaboration between the two important regulators with respect to financial inclusion strategy, already being driven by the CBN. The strategy also provides responsibilities of the two organizations towards the achievement of government’s objective on payment systems, including but not limited to mobile money services.
Prof. Umar Danbatta harp on the Commission’s critical review of the existing framework for the regulation of mobile payments in Nigeria, within the membership of a Committee comprising of the CBN, NCC, NDIC and the NIBSS.
He further stated that the Commission is looking forward to signing the revised strategy of the Anti-money Laundering (AML) aimed at preventing, detecting, inditing and control of money laundering and financial terrorism.