The United Nations (UN) has challenged Nigeria and other developing countries to boost digital payments with the right policies, saying it could earn them $220 billion to $320 billion annually. According to a report by the UN Secretary-General’s Task Force on Digital Finance, governments must seize the opportunity created by the coronavirus pandemic to develop digital payments
The report titled: “People’s Money: Harnessing Digitalisation to Finance a Sustainable Future,” set out an ambitious, practical action agenda for governments. Centrally, it spells out how digital finance can be harnessed in ways that empower citizens as tax-payers and investors in envisaging a digital transformation at a scale that better aligns people’s money with their needs, collectively expressed by the Sustainable Development Goals (SDGs).
In the report, the task force noted that while the pandemic demonstrates the immediate benefits of digital finance, the disruptive potential of digitalisation in transforming finance was immense…
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