Speeches

9th Edition Of The Annual International Conference And Exhibition On Cards And Allied Technologies Tagged “Card Expo 2009”

Jun 16, 2009 - Eight eventful years have passed since the maiden edition of the “Card Expo Africa” was organized by Intermac Consulting Limited here in Lagos State precisely in 2001. This 9th and bigger edition of this annual international conference speaks volume for the receptivity, growth and market for e-payment technology in the State and indeed the country.

I commend the organizer: - Intermac Consulting Limited for sustaining the efforts to sensitize stakeholders and create one of the biggest networking platforms where key players and decision makers in the electronic “Card” Industry have the opportunity to exchange ideas and exhibit relevant products. This platform is a laudable one as manufacturers of cards, software, hardware, payment solutions and financial services providers can exhibit new and exciting innovations in the card payment world.

This continental conference and exhibition with speakers, consultants and experts drawn from reputable institutions around the world not only situate and reinforces the global dimension of the e-payment system but also the realization that such mediums are powerful tools that enhance business interchange and create a culture of transaction suitable to modern day trade and financing.

With particular reference to key areas of this conference such as “ATM, POS,” let me therefore urge all stakeholders to take advantage of the opportunity offered by this forum to listen, interact and network with experts from Asia, Europe, America and Middle-East where advancement in e-payment has proved beneficial to the economy with huge returns on improved living conditions and interaction across social classes which patronize the system. These innovations would assist our governments and financial institutions overcome the constraints to growth, witnessed in the e-payment landscape across Africa and in Nigeria.

Distinguished guest, ladies and gentlemen, the economic growth of any nation should be the overall concern and interest of all stakeholders in the public and private sectors, the government, financial institutions and other relevant players in the various strata of the economy. Consequently, their collective efforts to deliberately create a robust and vibrant economy that is propelled by an integrated technological system such as e-payment would not only ensure the development of Africa as a viable market and investment destination but also provide it with linkages to the global economy.

In this light, banks and Financial Institutions should intensify efforts in the building of cross-border channels, e-banking and e-payment infrastructure that will continue to generate sustainable superior performance even in the face of the present global economic meltdown with increasingly competitive economies.

Lagos State Government over the last decade has performed creditably well in the use of ICT to grow the State by embracing e-governance methods to improve on the Health, Education, Transportation and the Public Service needs of the people.

Currently, all information about payment to the State government including electronic tax clearance forms, vehicle registration, self-assessment form and so on are done through this method. It is a system that recommends itself. The fact that we are continuously exploring many areas for its use has confirmed our faith in the use of e-payment for services and goods. It is transparent, easy to use and customer friendly.

However, banking and other financial institutions, manufacturers and their customers in Nigeria need to be better informed about the uses and implication of e-payment in the context of the country’s development.

Let me state that banks and other financial institutions across the country which are buying and deploying these terminals must show sufficient understanding of global and domestic trends and be objective in their expectation of customer’s awareness of new technologies to enable them cope in this period of economic recession.

The electronic cards serve as a medium which in themselves are neutral but take on meaning depending on how and to what purpose they are deployed. ATMs remain at the apex channels in the banking, telecommunication sector in Nigeria and the African continent, occupying a large market among the un-banked sector particularly for the mobile payment services which have received tremendous patronage all over the world. Though Telecom Services like GPRS and Sim are becoming more available and stable, there is more to be done in meeting the needs, yearning and aspiration of the end users of this product.

I will like to commend the organizers of the Card Expo Africa 2009, and to acknowledge the need for all stakeholders at this gathering to be focused and determined in their quest to develop a plan for a clear pathway on card and channels not only in Africa, but in Nigeria in particular with particular attention to the inconsistency in power supply and infrastructure deficiency.

I urge participants at this conference and exhibition, to proffer solutions to the slow growth of card penetration, card issuance and usage in this part of the globe.

Distinguished guests, ladies and gentlemen, you are all welcome once again to Lagos State, The Centre of Excellence; I wish you successful deliberations.

Thank you for listening.

Eko O Ni Baje O!

Babatunde Raji Fashola, SAN
Executive Governor,
Lagos State