e-ppan-300x104The E-Payment Providers Association is set to host its regular quarterly Techno-Interactive Forum. This is the seventh edition and it shall focus on the theme “Mobile Payment and the changing Financial Landscape in Nigeria” It will hold by 9am on the 17th of May, 2011 at the Civic Centre, Ozumba Mbadiwe Street, Victoria Island, Lagos.

Mobile usage has seen an explosive growth in most of the African countries. The rapid spread of mobile phones in Nigeria has seen mobile users already exceeding the number of banked people in the country. According to EFInA, 2010, 56.4 million Adults in Nigeria have access to a mobile phone and 32.3 million of them are unbanked. There are 49.2 million adults who own a mobile phone while 25.5 million of them are unbanked.

The implication of this is that using this channel for financial services may not only reduce the cost of financial transactions for provider and customer, but also allow new entrants to the financial sector, and new relationships to be formed for distributing services. This holds the prospect of accelerating access to financial services on the back of the mobile infrastructure.

Seeing these possibilities, the CBN recently gave “Approval in Principle” to 16 companies for mobile banking.

E-PPAN will be hosting an industry forum to share knowledge and bring further insights to how best we can create an enabling environment for the successful sustenance of mobile payment in Nigeria.

Discussions at the event will focus on how Nigeria can consciously provide a set of conditions which promote a sustainable trajectory of market development in such ways to promote socially desirable outcomes which will ensure that investments in mobile banking is adequately protected and consumers do not pay for uncertainties in the mobile payments environments.

These conditions are forged by larger macro-political and economic forces, as well as sector specific policies and laws. However, we shall focus on the power of policy makers and regulators to control and influence the environment with the collaborations of operators and all stakeholders.

In a new market sector like mobile banking, where business models are not yet stabilized, enablement in the policy and regulatory sector means a move towards greater certainty and greater openness.

Mobile banking offers the prospect of increasing efficiency of the payments system; and potentially, expanding access to financial services. However, market enablement requires managing these complex trade-offs within the business chain and the regulatory environment.

The extent to which mobile banking will in fact be transformational in Nigeria will therefore depend in large measure on whether the environment is enabling.

Confirmed discussants at the event are:

–     Mr. A.S F Atoloye, Director, Banking & Payment Systems Department, Central Bank of Nigeria.

–     Mr. Sylvester Ehikioya, Director, New Media & Information Security, Nigerian Communication Commission.

–     Mrs. Ify Umenyi, Director General/ CEO, Consumer Protection Council.

–    Mr. Chuma Ezirim, Head, Cards and Channels Management, First Bank Nigeria Plc

–     Mr.  Ike Nnamani, President, Medallion Communications Limited

–    Mr. Emmanuel Okeagwale, Principal Associate, Mobile Money Africa.

Onajite Regha, the Executive Secretary/CEO will be presenting the discussion paper.

Kenneth Omeruo
Omeruo Ndukaku Kenneth is an Innovation Management expert,the CEO of Emerging Media,a new media company.He is a member of ISPIM - International Society for Professional Innovation Management and the US-Africa chamber of Commerce.He is the Founder of TechTrends Nigeria Blog,Nigeria Innovation Summit and the African Innovation Academy.Kenneth is a highly sought-after Internet Marketing Consultant who has through his seminars, articles, training and consulting, helped many organizations, Individuals, Businesses maximize the Internet for business purposes.Kenneth has also being featured as a guest on the TV show TODAY ON STV Nigeria and on Bloomberg Africa TV.He is the author of the best –selling Internet Book: How To Create Unlimited Internet Wealth. He is a syndicated columnist with the following Newspapers in Nigeria: Daily Independent, Financial Standard, PUNCH, BusinessDay, and Sun.Kenneth organises the EduNet Conference for Universities in Nigeria. Kenneth is a member of Institute of Software Practitioners of Nigeria( ISPON ) Roundtable For Capacity Development in Nigeria,member pre-selection committee for Nigeria at the UN World Summit Awards,a Panelist for Youth Enterprise With Innovation in Nigeria(YouWIN)-a Federal government initiative created by the ministry of finance,supported by ministries of Communications Technology,Youth Development,Worldbank and DFID. A 2013 Judge at the Google Cloud Developers Challenge for Sub Saharan Africa.He has been a contributing editor of Nigeria Communications Week,Africa Telecom and IT Business Magazine,ICT Today magazine,M2 magazine.Kenneth has been invited to the Commonwealth Telecommunications Organisation Forum, Oracle Open World Conference USA, Oracle Cloud World Dubai, and GITEX Dubai. He now lives in New York with his family and presently working on an Open Innovation project for Nigeria. You can contact Kenneth through email: (kenneth (at)techtrendsng.com) Facebook:www.facebook.com/Kenneth.omeruo On Twitter:www.twitter.com/kennethomeruo Skpe:Kenneth.Omeruo

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