Nigeria – E-payment increases Abuja’s revenue by 40%- Minister

from the Premium Times (Nigeria)..

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The electronic payment system increased the internally generated revenue of Abuja.

The Minister of the Federal Capital Territory, FCT, Bala Mohammed on Tuesday said that FCT Administration’s revenue has been increased by 30 to 40 per cent following the introduction of e-payment for its services.

According to a statement signed by the Chief Press Secretary to the Minister, Mr. Mohammed while receiving the Governor of the Central Bank, represented by the Deputy Governor (Operations), Tunde Lemo, said that e- payment has blocked leakages of revenue coming into the coffers of the Abuja administration.

He also said that the cashless policy will help remediate and rehabilitate corrupt fund practices in the society and boost economic and social activities.

Mr. Mohammed called for an aggressive enlightenment on the new policy to help reduce robbery and kidnapping as he appealed to the Central Bank boss to assist Abuja in capacity building to bring about perfection of the new policy.

Mr. Lemo, in agreement, stated that such assistance should be in form trainings and orientation saying that his team’s visit was to preach the gospel of cashless Nigeria that is expected to take-off on July 1. The policy is to modernize Nigerian economy in tune with the Transformation Agenda of President Goodluck Jonathan, he said.

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