CBN Rolls Out DocFlow And MDA Payment Solutions To Facilitate Naira Transactions

CBN Rolls Out DocFlow And MDA Payment Solutions To Facilitate Naira Transactions

The Central Bank of Nigeria (CBN) has introduced two digital initiatives—the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution—at an event held on Wednesday, January 15, 2025, at the Bank’s headquarters in Abuja.

According to a press statement on Thursday, the projects are part of the ongoing “Digital First” transformation initiative launched by Governor Olayemi Cardoso in December 2023.

The statement read, “The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has launched two transformative initiatives, the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution.”

In his remarks, Governor Cardoso emphasized the pivotal role of the DocFlow system in transforming document management processes within the Bank. The system is designed to digitize operations, significantly reduce paper dependency, and streamline approval workflows, thereby fostering operational efficiency.

Cardoso also highlighted the MDAs Naira Payment Solution as a critical tool in automating cash withdrawal processes for MDAs, which will improve service delivery and enhance client support. He lauded the in-house development of both solutions, underlining the cost savings and commitment to fostering sustainability through technological advancements.

CBN launches DocFlow and MDAs naira payment solutions
by Tobi Tunji 2 minutes ago
The Central Bank of Nigeria (CBN) has introduced two digital initiatives—the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution—at an event held on Wednesday, January 15, 2025, at the Bank’s headquarters in Abuja.

According to a press statement on Thursday, the projects are part of the ongoing “Digital First” transformation initiative launched by Governor Olayemi Cardoso in December 2023.

The statement read, “The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has launched two transformative initiatives, the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution.”