CBN begins integrated cash management system
By Babatola Adeymi
THE Central Bank of Nigeria (CBN) has began the automated cash management system as it pledged not to relent in efforts to ensure that commercial banks meet the expectations of their customers nationwide.
CBN's Director, Currency Operations Department, Mr. Patrick Anene, gave the assurance yesterday in Lagos at the intensive training for 42 of its senior cash management engineers from its 22 branches and cash centres across the country.
The training programme was provided by De La Rue Cash Systems and Interprods limited, its national technical partner on Integrated Cash Management System for Nigeria (ICMS).
Anene, represented by his deputy, Mr. S.T. Afaha, said the capacity building initiative was part of the apex bank's renewed commitment to improving its cash management operations and services to commercial banks which are expected to extend the benefits to consumers.
He disclosed that the bank continued to invest heavily in equipment maintenance and human resources to effect improvement in currency handling and achieve greater management of its new currency which resulted in the N500, N200 and N100 notes in the last four years.
He added that the training of the engineers on various levels of cash management equipment was to ensure that the full automation system and process at the apex bank was maximally utilised.
De La Rue's Director for Nigeria, Mr. Robert Fulford, Brown who was supported by the company's Resident Engineer for Nigeria, Mr. Etiene Smith, confirmed that De La Rue Cash Systems and indeed De La Rue Group has come a long way with Nigeria and is currently providing new levels of cash management systems and services to commercial banks and the CBN.
The Regional Manager for Africa of De La Rue, Mr. Mike Jackson, took the participants through a multi-media session on ICSM.
Jackson said that the CBN as the coordinator of the banking system was accorded priority on the new ICMS, adding that major Nigerian banks would follow.
