The Central Bank of Nigeria (CBN) has introduced two transformational digital initiatives aimed at elevating the country’s financial landscape.
They are Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution.
The announcement was made on Wednesday, January 15, 2025, during a ceremony at the Bank’s headquarters in Abuja, as part of the ongoing “Digital First” transformation initiative launched by Governor Olayemi Cardoso in December 2023.
According to a press statement released on Thursday, these new digital tools are a crucial step in modernising the CBN’s operations and enhancing the overall efficiency of the Nigerian financial system.
In his address, the CBN Governor, Yemi Cardoso, emphasised the remarkable potential of the DocFlow system, which aims to revolutionise document management within the Bank.
“The DocFlow system is designed to digitize operations, significantly reduce paper dependency, and streamline approval workflows.
“This will foster operational efficiency and enhance our overall performance,” Cardoso said, highlighting how this initiative will reduce operational bottlenecks and improve overall service delivery.
