Why CBN wants to introduce National Domestic Card scheme

  • The Central Bank of Nigeria is poised to begin the rollout of the National Domestic Card Scheme
  • The card scheme is billed to become operational beginning January 16, 2023
  • The card will, among other functions, unify payments in Nigeria, drive cashless transactions and promote transparency

The much-touted National Domestic Card Scheme announced by the Central Bank of Nigeria (CBN) is billed to start on January 16, 2023.

The CBN, in partnership with the Nigeria Inter-bank Settlement System (NIBBS), said the scheme is to unify payments in Nigeria and bring in the unbanked population.