CBN, CeBIH assess technology’s impact on payment

The Deputy Governor, Operations, Central Bank of Nigeria, Mr. Adebayo Adelabu, and the Chairman of First Bank Nigeria Limited, Mrs.  Ibukun Awosika, will lead banking and electronic payments executives to examine the impact of disruptive technology and future of payment at the 2016 annual retreat of the Committee of Electronic Banking Industry Heads.

The theme of the retreat is, “Disruptive technology and the future of payment”, and will hold from December 1 to 2, 2016 in Abuja.


According to a statement by the association, Adelabu and the Chairman of the Senate Committee on Banking, Insurance and other Financial Institution, Senator Rafiu Ibrahim, are the special guests of honour, while Awosika will deliver a keynote address.

The retreat will feature presentations by chief executive officers of leading electronic payment service providers in Nigeria and the United Kingdom.


These are the Managing Director, iAxept, United Kingdom Limited, Mr. Risto Savolainen; Managing Director, Nigeria Inter-Bank Settlement System Plc, Mr. Ade Shonubi, the Group Managing Director, Interswitch Nigeria Limited, Mr. Mitchell Elegbe; the Managing Director, Unified Payments Services Limited, Mr. Agada Apochi; and the Managing Director, eTranzact International Plc, Mr. Valentine Obi.

Other speakers are the Managing Director, SystemSpecs Limited, Mr. John Obaro; Technology & Digital Leader, West Africa, Akintola Williams Deloitte, Mr. Oluwole Oyeniran; the Digital Director, Etisalat Nigeria, Mrs. Adia Sowho; and an e-commerce expert, Mr. Ade Atobatele.

Speaking on the purpose of the retreat, the CeBIH Chairman, Mr. Dele Adeyinka, was quoted as saying, “The retreat is aimed at examining the impact of the various technological innovations and advancements in the field of payments on how payments and banking are done today and in terms of what is to be expected in the future.”

This, he added, “will help the various stakeholders in positioning themselves for the opportunities that technology has brought to payments.”

Established in July 2008, CeBIH comprises of all heads of e-business/e-channels and cards services of all the 23 banks in Nigeria.

According to the statement, the primary objective of the committee is to promote electronic banking services in line with global best practices and serve as a forum for sharing ideas and experiences by the e-banking industry heads.