🇳🇬Nigeria launches domestic card scheme to boost economy

Nigeria’s central bank has launched a domestic card scheme to rival foreign cards like Mastercard and Visa, hoping to enhance its drive to make Nigeria a cashless society and save the country foreign transaction fees.

Central Bank of Nigeria governor said Nigeria was joining China, Russia, India and Turkey in launching a domestic card scheme. AfriGo is owned by CBN and Nigerian banks.

The operations of international card service providers like Mastercard and Visa would not end, he said, as AfriGo is meant to provide more options for domestic consumers in a “cost-effective and competitive manner”.

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