{"id":82321,"date":"2023-02-11T12:22:09","date_gmt":"2023-02-11T11:22:09","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican"},"modified":"2023-02-11T14:14:39","modified_gmt":"2023-02-11T13:14:39","slug":"naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican","title":{"rendered":"Naira scarcity exposes weakness in Nigeria\u2019s e-payment channels \u2013 ICAN"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>As the reality of Nigeria\u2019s economic challenges continues to tell on its citizens, the Institute of Chartered Accountants of Nigeria, ICAN, has said the cash crunch crisis exposed the weakness in the country\u2019s alternative financial payment system.<\/p>\n

ICAN disclosed this in a statement on Saturday.<\/p>\n

The institute advised banks, fintech and telecommunication companies to double up on investment in payments technologies.<\/p>\n

Commercial banks\u2019 customers have continued to complain of failed transactions on USSD and Mobile App Platforms.<\/p>\n

ICAN said, \u201cThe current cash-in-hand crisis has revealed the weaknesses in our alternative financial payment solutions and platforms. Accordingly, we encourage the deposit money banks, telecommunication and fintech companies to ramp up investments in their systems and processes towards improving the quality of their services in the Nigerian economy in the shortest possible time.\u201d<\/p>\n

The institute stated that there would be a respite at the end of the day provided the government continues to engage stakeholders and experts on pragmatic solutions to the crisis.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. As the reality of Nigeria\u2019s economic challenges continues to tell on its citizens, the Institute of Chartered Accountants of Nigeria, ICAN, has said the cash crunch crisis exposed the weakness in the country\u2019s alternative financial payment system. ICAN disclosed this in a statement on Saturday. The institute advised banks, fintech and telecommunication […]<\/p>\n","protected":false},"author":84,"featured_media":82320,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,9781,9717,254],"class_list":["post-82321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-ican","tag-naira-scarcity","tag-nigeria"],"yoast_head":"\nNaira scarcity exposes weakness in Nigeria\u2019s e-payment channels \u2013 ICAN - Nigeria<\/title>\n<meta name=\"description\" content=\"As the reality of Nigeria\u2019s economic challenges continues to tell on its citizens, the Institute of Chartered Accountant ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Naira scarcity exposes weakness in Nigeria\u2019s e-payment channels \u2013 ICAN\" \/>\n<meta property=\"og:description\" content=\"As the reality of Nigeria\u2019s economic challenges continues to tell on its citizens, the Institute of Chartered Accountant ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-11T11:22:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-11T13:14:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/02\/postQueueImg_1676105540.40.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1146\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Naira scarcity exposes weakness in Nigeria\u2019s e-payment channels \u2013 ICAN\",\"datePublished\":\"2023-02-11T11:22:09+00:00\",\"dateModified\":\"2023-02-11T13:14:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican\"},\"wordCount\":185,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/02\/postQueueImg_1676105540.40.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"ican\",\"naira scarcity\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-exposes-weakness-in-nigerias-e-payment-channels-ican\",\"name\":\"Naira scarcity exposes weakness in Nigeria\u2019s e-payment channels \u2013 ICAN - 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