NIGERIA Inter-Bank Settlement System (NIBSS) Plc has lamented over what it described as the slow adoption of the Central Bank of Nigeria's Cash-less economy initiative in Lagos, where the apex bank is currently running a pilot programme.However, one major problem identified by NIBSS was poor awareness on the part of the operators, especially among the informal sector.The Executive Director, Business Development at NIBSS, Mrs. Christabel Onyejekwe, disclosed this in Lagos on Wednesday at the unveiling of new Internet Service Provider'Oxygen Broadband, where she added that there are also challenges with interoperability of networks from the telecommunications operators.Onyejekwe however, said that the NIBSS is currently working with the CBN on capacity buildings for operators, especially the Point of Sale (PoS) merchants in the country.According to her the technicalities of mastering the usage of the PoS terminals and other technology deployed is among the challenges, but the training we are presently carrying out will help to tackle that challenge.'There are still challenges with awareness creation that will drive this initiative. I think we are yet to really enter the informal sector, because the bulk of adoption will come from them. Also I can say that there are still issues with the interoperability of networks. I mean from the telecommunications operators. The networks are not fast and cheap, as we would have wanted. But I think we looking at that now.'The Lagos initiative started on a low pace, adoption has not been at a faster rate and the challenges are obvious. We can't say we have recorded the required penetration looking at the population of Lagos. We started this race in August last year, but the believe is that by the time we overcome this challenges in Lagos, implementation in other parts of the country won't really pose a major challenge.According to her, the CBN/NIBSS training for PoS merchants started some months back and mostly likely to run till the end of the year, which will laid the country wide commencement of the CBN initiative come January 1, 2013.Onyejekwe explained that though there are still challenges, 'but we are sure that it is going to be a sure and successful process. The awareness will be hyped and there will be more PoS installed in major areas of the country. ATMs too will be deployed in abundance and we shall also encourage usage of payments cards.'She explained that the NIBSS had actually partnered with the entire telecommunications firm on GPRS services and that they are looking at the issue of price reduction.However, an official of one of the leading telecommunications firms, offering interoperability services, who pleaded anonymity, told The Guardian on Wednesday that though there are still challenges, 'but I can say we are on top of the situation. We are working to ensure the process is seamless. One major challenge hindering operators, which we have raised times without number is the issue of power.'You know that all these technologies we are talking about run on power and until we get power right in this country, we may still be facing some challenges. But for cash-less, we are working and in partnership with the financial sector to get this done without much hitches.'But to the Head of Sales at MainOne Cable Company, Mrs. Bola Ogundogba, stressed the need for more terminals in the country, stressing that there is need to have standardized infrastructure in the country if the policy must be successful.Ogundogba stressed the need for more collaboration between the financial sector and the technology sector, stressing that MainOne Cable Company supports the CBN initiative, which she said would go a long way to reduce risk attached to carrying cash up and down.'But, I think a robust technology is what will do this magic. Deployment of broadband and its facilities across the country will go a long way to boost this process and increase the efficiency of the terminals. We are already partnering with some operators, even small players, such as Oxygen Broadband that will increase Wi-fi connectivity in the country to boost this process', she stated.
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