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Ghana Central Bank Ahead Of CBN In Digital Payment Systems

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A former Governor of the Central Bank of Nigeria (CBN) and the 14th Emir of Kano, Muhammadu Sanusi II, has said that Bank of Ghana (BoG) was the leading central bank in the sub-region with regards to the use of technology in the financial service industry (Fintech).

According to an online newspaper, GhanaWeb, Sanusi II, who is now the Khalifa of the Tijjaniya Islamic Movement, said BoG was now leading the CBN on Fintech and other financial operations.

“I must say I am jealous because the Bank of Ghana has gotten ahead of the Central Bank of Nigeria on Fintech and others,” he said.

Sanusi II, who was disclosed this when he called on Ghana’s Vice President, Mahamudu Bawumia, in Accra, Ghana, added that the Central Bank of Nigeria was now learning from BoG.

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“We all started with banking modules, but I think you quickly realised it was limited and you broke off. But I am happy that the roles are being reversed and we are now copying from Ghana,” he added.

He, therefore, commended BoG for its achievements in digital payment systems which countries in Africa were now learning from.

The former Emir of Kano also said the tremendous success Ghana had achieved in its digitisation agenda was partly due to the enormous experience of Mahamud Bawumia has had in banking and digital payment regulations when he worked in the banking sector.

“Your digital work I am aware of because I happen to be on the global board of MTN and we have an operating office in Ghana so we get reports in Johannesburg on what is happening in different countries. So we do know what is happening in the digital space, Fintechs and so on within Ghana,” he told the vice president.

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“I’m sure that [Ghana’s digitisation drive] was largely due to your input and experience from central banking and regulation of digital payments,” Sanusi added.

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