[BUSINESS NEWS] Chartered Institute of Bankers of Nigeria says bank customers will be sticking to electronic payments

As institutions and companies prepare to reopen after the COVID-19 Presidential Task Force ordered institutions to open on Monday, a financial services expert has said electronic transactions would
keep increasing. Mr Seye Awojobi who is the registrar of Nigeria's Chartered Institute of Bankers said the lockdown has brought the great potential for growth to the e-payment system.

Though mentioning that many people were used to using the electronic payment system before the lockdown, he said, "Nothing would make us believe this would fall down after the lockdown." According to him, one of the sectors that would profit from the COVID-19 was the IT sector, as the new standard was that people will do a lot of stuff electronically.

During this lockdown period, the Deposit Money Banks had been urging their clients to use their digital banking platforms for transactions. During the restrictions and in order to better monitor the spread of coronavirus disease, the Nigerian Central Bank encouraged the general public to limit their use of cash and use alternative payment platforms such as mobile banking.