{"id":117093,"date":"2025-04-04T17:16:35","date_gmt":"2025-04-04T16:16:35","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=117093"},"modified":"2025-04-04T17:16:35","modified_gmt":"2025-04-04T16:16:35","slug":"nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/","title":{"rendered":"Nigeria to get $10.5m World Bank grant to boost payment systems"},"content":{"rendered":"<div style=\"text-align: justify;\">Daniel Adaji<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The World Bank is planning a $10.5m grant for Nigeria, aimed at enhancing the technical capacity of the Central Bank of Nigeria (CBN) and modernising the country\u2019s domestic payment infrastructure.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">This is, according to information obtained from the World Bank website on Friday.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">This intervention, which is part of the CBN Technical Assistance Facility, will focus on integrating innovative technologies and data science into the CBN\u2019s supervisory processes.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The fund is expected to help address both long-standing and emerging challenges in Nigeria\u2019s financial sector while improving the infrastructure for remittance payments.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to the World Bank, the initiative is designed to strengthen technology-driven, risk-based supervision at the CBN and enhance the domestic payment infrastructure.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The proposed project is structured around three key areas: it aims to strengthen institutional capacity by equipping the CBN with tools to adapt to technological advancements. The project will focus on developing a robust governance framework, providing expert advisory support, and updating internal processes to meet the demands of the digital era.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The grant will help improve CBN&#8217;s supervisory functions by incorporating advanced Supervisory Technology (SupTech) systems. These modern systems are expected to improve data accuracy, operational efficiency, and overall risk-based supervision.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Additionally, the initiative will explore ways to formalise remittance flows into secure, regulated channels, improving the safety and reliability of domestic payment systems. This will include conducting surveys on remittance households and encouraging knowledge-sharing among industry peers.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The project also aligns with Nigeria\u2019s broader goal of transitioning towards a cashless economy, as well as the growing adoption of digital financial services in the country. The World Bank is expected to present the project for approval on June 12, 2025, with the CBN as the implementing agency.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">This new initiative comes as Nigeria\u2019s total debt to the World Bank continues to rise. The country\u2019s external debt report, released by the Debt Management Office (DMO), showed that Nigeria now owes the World Bank a total of $17.32bn.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The majority of this debt, amounting to $16.84bn, is owed to the International Development Association (IDA), which represents about 39.14 per cent of Nigeria\u2019s total external debt. The International Bank for Reconstruction and Development (IBRD), another branch of the World Bank, is owed $485.08m, which accounts for just 1.13 per cent of the total debt.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Since President Bola Tinubu\u2019s administration took office, the federal government has secured loans worth $8.03bn from the World Bank within less than two years.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The World Bank has approved 13 different loan projects under his leadership, covering areas such as education, nutrition, and economic resilience.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In addition to the $10.5m for the CBN, the World Bank recently approved three major financing operations for Nigeria, totaling $1.08bn.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">These include $500m for the Community Action for Resilience and Economic Stimulus (NG-CARES) Programme, $80m for Accelerating Nutrition Results in Nigeria (ANRIN 2.0), and $500m for the Hope for Quality Basic Education for All (HOPE-EDU) initiative. These initiatives aim to support key sectors such as education, nutrition, and economic resilience, particularly for underserved groups in Nigeria.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Daniel Adaji The World Bank is planning a $10.5m grant for Nigeria, aimed at enhancing the technical capacity of the Central Bank of Nigeria (CBN) and modernising the country\u2019s domestic&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":115862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-117093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nigeria to get $10.5m World Bank grant to boost payment systems - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria to get $10.5m World Bank grant to boost payment systems - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Daniel Adaji The World Bank is planning a $10.5m grant for Nigeria, aimed at enhancing the technical capacity of the Central Bank of Nigeria (CBN) and modernising the country\u2019s domestic&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-04T16:16:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"Nigeria to get $10.5m World Bank grant to boost payment systems\",\"datePublished\":\"2025-04-04T16:16:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/\"},\"wordCount\":514,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/\",\"name\":\"Nigeria to get $10.5m World Bank grant to boost payment systems - Pointblank News\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg\",\"datePublished\":\"2025-04-04T16:16:35+00:00\",\"author\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"breadcrumb\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#primaryimage\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg\",\"contentUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg\",\"width\":650,\"height\":350},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pointblanknews.com\/pbn\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nigeria to get $10.5m World Bank grant to boost payment systems\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/\",\"name\":\"Pointblank News\",\"description\":\"Just the news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\",\"name\":\"Our Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"caption\":\"Our Reporter\"},\"url\":\"https:\/\/pointblanknews.com\/pbn\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nigeria to get $10.5m World Bank grant to boost payment systems - Pointblank News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/","og_locale":"en_US","og_type":"article","og_title":"Nigeria to get $10.5m World Bank grant to boost payment systems - Pointblank News","og_description":"Daniel Adaji The World Bank is planning a $10.5m grant for Nigeria, aimed at enhancing the technical capacity of the Central Bank of Nigeria (CBN) and modernising the country\u2019s domestic&hellip;","og_url":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/","og_site_name":"Pointblank News","article_published_time":"2025-04-04T16:16:35+00:00","og_image":[{"width":650,"height":350,"url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg","type":"image\/jpeg"}],"author":"Our Reporter","twitter_misc":{"Written by":"Our Reporter","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#article","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/"},"author":{"name":"Our Reporter","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"headline":"Nigeria to get $10.5m World Bank grant to boost payment systems","datePublished":"2025-04-04T16:16:35+00:00","mainEntityOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/"},"wordCount":514,"commentCount":0,"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg","articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/","url":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/","name":"Nigeria to get $10.5m World Bank grant to boost payment systems - Pointblank News","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#primaryimage"},"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg","datePublished":"2025-04-04T16:16:35+00:00","author":{"@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"breadcrumb":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#primaryimage","url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg","contentUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2024\/12\/World-Bank.jpg","width":650,"height":350},{"@type":"BreadcrumbList","@id":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-to-get-10-5m-world-bank-grant-to-boost-payment-systems\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pointblanknews.com\/pbn\/"},{"@type":"ListItem","position":2,"name":"Nigeria to get $10.5m World Bank grant to boost payment systems"}]},{"@type":"WebSite","@id":"https:\/\/pointblanknews.com\/pbn\/#website","url":"https:\/\/pointblanknews.com\/pbn\/","name":"Pointblank News","description":"Just the news","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c","name":"Our Reporter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","caption":"Our Reporter"},"url":"https:\/\/pointblanknews.com\/pbn\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/117093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/comments?post=117093"}],"version-history":[{"count":1,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/117093\/revisions"}],"predecessor-version":[{"id":117094,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/117093\/revisions\/117094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media\/115862"}],"wp:attachment":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media?parent=117093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/categories?post=117093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/tags?post=117093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}