ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE   ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).   The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).   To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.   The two nominees are seasoned professionals in the oil and gas industry.   Eyesan, a graduate of Economics f...
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CBN INTRODUCES DIGITAL INNOVATIONS TO ENHANCE GOVERNMENT EFFICIENCY. (PHOTO).

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 CBN Introduces Digital Innovations to Enhance Government Efficiency


The Central Bank of Nigeria (CBN) has unveiled two groundbreaking digital systems—the Document Flow System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution—at an event held on Wednesday, January 15, 2025, at its Abuja headquarters.


A press statement released on Thursday described the projects as key components of the “Digital First” transformation agenda initiated by CBN Governor Olayemi Cardoso in December 2023.


“The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has launched two transformative initiatives: the Document Flow System and the MDAs Naira Payment Solution,” the statement read.


In his remarks, Cardoso highlighted the Document Flow System as a major step in modernizing document management processes within the Bank. He explained that the system is designed to digitize operations, minimize paper usage, and streamline approval workflows, thereby improving efficiency.


Cardoso also emphasized the importance of the MDAs Naira Payment Solution, describing it as a pivotal tool for automating cash withdrawal processes for government ministries, departments, and agencies. He noted that the system aims to enhance service delivery and bolster client support.


The Governor praised the in-house development of these systems, citing significant cost savings and their alignment with sustainability goals through advanced technology.


Deputy Governor of Operations, Emem Usoro, lauded the launch as a testament to the Bank’s commitment to innovation and operational excellence. She highlighted the MDAs Naira Payment Solution's potential to improve service delivery, reduce errors, and strengthen fraud prevention measures.


Mrs. Jide-Samuel, Acting Director of the CBN’s Information Technology Department, noted that the MDAs Naira Payment Solution had undergone successful testing with several MDAs. She stated that the initiative reflects the Bank’s objective of achieving “Excellence in Central Banking Operations.”


The statement added, “The MDAs Naira Payment Solution is regarded as a game-changer in financial transaction management. It is expected to reduce payment turnaround time by 70 percent, significantly enhancing Nigeria’s financial ecosystem.”

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