The CBN watchlist which was set up due to e-payment fraud-related issues was confirmed by the Deputy Director, Payment System Department, CBN, Adewuyi Adeyemi at the 34th CBN seminar for finance correspondents and business editors held in Calabar, Cross Rivers State.
The Apex bank noted that it initiated the audit of the e-payment channels due to the challenges and widespread transaction failure faced by bank customers and also, to help identify gaps in the industry’s infrastructure that needed fixing.
These challenges gathered momentum during the peak of the naira redesign policy, a development which caused a spike in the number of e-payment transactions across the country.