The Central Bank of Nigeria (CBN) has announced its Payments System Vision 2028, which focuses on the development of biometric-driven, invisible payment systems. However, the CBN has raised concerns regarding existing data protection gaps that could affect the implementation of this initiative. The central bank emphasizes the importance of addressing these vulnerabilities to ensure the security and privacy of users. This initiative is expected to significantly influence the payment landscape in Nigeria, enhancing convenience for consumers while necessitating robust data protection measures.
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