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CBN, NIBSS, set to introduce national card scheme

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The Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement Systems (NIBSS) Plc, in conjunction with the Bankers’ Committee, will soon float a national card scheme to improve the payment system in Nigeria.

Mr Premier Oiwoh, Managing Director, NIBSS, said this at a Bankers’ Committee press briefing on Thursday.

He said the scheme, which had been approved, was the brain work of the apex bank.

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“Part of the proposition of the bank is that this National Domestic Card scheme will be created to help drive acceptance and efficiency and reduce operating cost of cards in the country.

“This card will be configured to address the unique eco-system that we have, to help improve payment across the nation.

“We also expect the card to provide affordable pricing; on this card, the charges will be lower because it’s expected to be charged for in Naira as against foreign currency.

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“We also expect to customise local content uniquely for the Nigerian landscape, which will support micropayment and credit, e-government, identity management, transportation, health sector and agriculture in terms of payment,” he said.

He explained that the card was expected to reduce the dependence on cash across the landscape and help promote the cashless initiative of the CBN.

 

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“The operational effectiveness of this card is expected to be robust and it should drive a lot of innovation, standardisation, then full end-to-end visibility to improve fraud management and better dispute resolution process around the card operating system.

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“Local competence for the card and payment scheme will also be deepened within the eco-system,” said Oiwoh.

He said the card would incorporate products ranging from debit cards, credit cards, and non-interest cards, among others.

The News Agency of Nigeria (NAN) reports that the committee also discussed the outcome of the last meeting of the Monetary Policy Committee meeting, particularly some of the key decisions that were taken to rein in inflation.

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The meeting also discussed the ongoing implementation of the RT200 FX policy and the key initiatives of the CBN in collaboration with the Bankers’ Committee to set up a National Fusion Centre.

The centre is an industry response aimed to address Cyber Security and safeguard the critical information infrastructure.

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Tinubu arrives Katsina to receive Buhari’s body for burial

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President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.

The News Agency of Nigeria (NAN) recalls that Vice-President Kashim Shettima departed London in the early hours of Tuesday with the remains of Buhari back to Nigeria.
On arrival at the Umaru Musa Yar’adua Airport Katsina, Tinubu was received by Gov. Dikko Radda,  former Vice-President Yemi Osinbajo, governors, Chairman of Dangote Group, Alhaji Aliko Dangote, Deputy Senate President, Jibrin Barau, and Speaker of the House of Representatives,  Tajudeen Abbas.
Others are Ministers, former governors, former and serving Senators, Alhaji Dahiru Managl,  former Minister of Information and Culture, Lai Mohammed, members of the All Progressives Congress (APC) National Working Committee (NEC), amongst others.
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“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

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Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.

Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.

“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.

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Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.

“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.

Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.

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“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.

Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.

“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.

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On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.

The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.

Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.

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King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

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His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.

In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.

King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”

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He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”

Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”

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