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NigComSat, CBN In National Internet Hotspot Deal

CBN Governor, Lamido Sanusi
CBN Governor, Lamido Sanusi


The Central Bank of Nigeria says it will sign a multibillion naira contract with the Nigerian Communication Satellite Limited to power national Internet connectivity.

This is in a bid to boost the CBN’s nationwide cash-less initiative and empower primary, secondary schools and the entire banking industry with real time Internet facility.

The CBN Governor, Mr. Lamido Sanusi, was quoted to have said this in Lagos, according to a statement by NigComSat on Monday, signed by its Head of Corporate Communications, Mr. Sonny Aragba-Akpore.

The digital initiative contract with NigComSat, which is expected to be ratified early next week, will create hotspots in all the 774 local government areas in the country for seamless Internet connectivity via satellite, the statement indicated.

It added, “All financial access points in the country will have dedicated hotspots through dedicated access points for the benefit of the banks and their customers.”

Sanusi was also quoted as saying that the same service will be available in many primary and secondary schools across the 774 council areas in the country, and “will be fitted with Internet hotspots for digital empowerment of this section of youths and future leaders.

“Every Nigerian bank will be connected to this platform whether the banks are located here in Nigeria or elsewhere in the global community. This will enable customers’ access to online real time banking services whether they live in the villages of Bayelsa or desert environment in Yobe State,” he said.

The connection to schools, he noted, shall be part of the Corporate Social Responsibility of the bank.

The CBN, Sanusi explained, would fund the Internet connectivity in the first four years and all those who will receive Internet services through the designated nationwide hotspots will do so free of charge.

He added, “This legacy is more than the banking reforms which we have started. Innovative banks can now think in a limitless manner that is opened to them by a combination of the biometric, Internet availability via NigComSat and in a few years, you will have an industry that is the most efficient in the world by simply leveraging on the potential of the solutions.”

All Automated Teller Machines and Point of Sale terminals in every village will be linked seamlessly to satellite, he added.

Mobile money will also be available at customers’ finger tips, Sanusi said, adding that the CBN had initiated all of these programmes in collaboration with the Ministry of Communication Technology, the Bankers Committee, Chams Plc and the immediate past Deputy Governor in charge of Operations, Mr. Tunde Lemo, and the German company, Dorman Long.










Source: Punch


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