Home News CBN Launches DocFlow System and MDAs Naira Payment Solution to Drive Digital Efficiency

CBN Launches DocFlow System and MDAs Naira Payment Solution to Drive Digital Efficiency

by hannah
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The Central Bank of Nigeria (CBN) has introduced the Document Flow (DocFlow) System and the MDAs Naira Payment Solution as part of its ongoing digital transformation strategy, “Digital First.”

Governor Olayemi Cardoso, speaking at the launch in Abuja, described the DocFlow System as a tool to digitise document management, cut paper usage, and streamline approvals.

He also highlighted the MDAs Naira Payment Solution as a system designed to automate cash withdrawals for government agencies, improving efficiency and reducing errors.

Cardoso commended the in-house development of these solutions, citing significant cost savings and reaffirming the Bank’s commitment to operational efficiency and sustainability.

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Deputy Governor of Operations, Emem Usoro, noted that the initiatives would enhance service delivery and help prevent fraud.

Acting Director of Information Technology, Mrs. Jide-Samuel, added that the payment solution had been successfully tested and is expected to improve transaction speed by 70%, strengthening Nigeria’s financial system.

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