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Cash-less: Inter-bank fund transfer, others hit N2.1tn monthly Due to the growing influence of the cash-less policy, inter-bank fund transfers, instant payments and cheque transactions in the Nigeria Inter Bank Settlement Payment System Plc are now worth N2.1tn monthly. The Central Bank of Nigeria, in a document made available to our correspondent on Thursday, confirmed that the NIBSS now handles the processing of 140,344 electronic fund transfer, instant payment and cheque transactions everyday. The transactions are worth over N70.2bn. The Head, Shared Services, CBN, Mr. Chidi Umeano, who confirmed the data, explained that the NIBSS was processing 6,749 instant payments worth N5.66bn; 99,602 electronic fund transfers worth N40bn; and 33,993 cheque transactions worth N24.7bn. Analysts, who spoke with our correspondent, said the 4.2 million monthly transactions across the three e-channels were worth N2.1tn; adding that these were expected to increase as the cash-less scheme received ...

FG, ACF Partner to Tackle Boko Haram The Arewa Consultative Forum (ACF) Wednesday night closed ranks with President Goodluck Jonathan to tackle insecurity, especially the issue of Boko Haram which has nearly brought the economy of Northern Nigeria economy to its knees. Chairman of ACF, Lt General Jeremiah Useni, said the body was ready to work with the Federal Government to address the issue, adding that their forum was not “a small body” to take their word lightly. He particularly expressed happiness that the government had agreed to dialogue with the group and assured that all would soon be well. "We always advise the government; we represent the North and we are a very strong group. Our happiness is that the Federal Government has agreed to dialogue with the group. It is not a new thing even when you are fighting with somebody you have to sit down one day to talk," he said. Asked of his view on the comment by General Muhammadu Buhari that there will be bloodshed if ...