Key Highlights
- Banking experts and regulators are meeting to discuss cash management in Nigeria's digital economy.
- The focus is on balancing the growth of digital payments with the continued importance of physical cash.
- The conference aims to find ways for cash and digital channels to coexist efficiently and securely.
- The Committee of Heads of Bank Operations (CHBO) is hosting the event, emphasizing the importance of cash in economic activity.
Lagos will host a gathering of banking operations experts and financial regulators this weekend to explore the evolving role of cash as Nigeria's digital economy expands. The Committee of Heads of Bank Operations (CHBO) annual Banking Operations Conference will bring together key decision-makers to discuss optimal cash management strategies alongside the growth of digital services.
The conference, themed “Re-imagining the Future of Cash in a Digital-First Economy,” aims to address the balance between accelerating digital payment adoption and the sustained relevance of physical cash, particularly in informal markets and underserved communities. Discussions will center on how to reposition cash for efficient, secure, and sustainable coexistence with digital channels.
Mr. Abraham Aziegbe, Chairman of CHBO, stated that this year's conference is crucial for the financial services industry. “As Nigeria deepens its digital payments infrastructure, cash remains an indispensable part of economic activity,” he said. He added that the conference is an opportunity to confront operational realities and shape a future where cash is smarter, more efficient, and integrated with digital systems.
The event will include senior executives from banking operations, electronic business, compliance, internal audit, information security, and corporate communications, as well as payment service providers, licensed cash managers, and regulators from the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS). The focus will be on strategies to improve cash management practices in light of increasing digital payment adoption.
Market watchers believe that the outcome of this conference could significantly influence banking policies and operational strategies in the coming years, potentially leading to innovative solutions that bridge the gap between traditional cash transactions and the burgeoning digital payment ecosystem in Nigeria. The discussions are expected to shape how banks adapt to the changing financial habits of Nigerians and address the challenges of financial inclusion.