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Poor collaboration, infrastructure slow digital payment growth

Nigeria’s digital payment system is being hindered by a lack of collaboration, poor infrastructure, and inadequate regulatory framework, leading to a breakdown of banks’ digital platforms. As a result, banks have had to limit ATM and point of sale withdrawals. A survey found that 60% of respondents were unsatisfied with ATM services and cybercrime has become a major challenge, leading to a rise in bank losses. The government has been urged to invest in digital infrastructure and strengthen regulatory frameworks.

Source: punchng.com –

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