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SystemSpecs: Pact with NCS will boost cashless policy


SystemSpecs, a major player in the Nigerian software industry has said that its partnership with the Nigeria Computer Society will boost the national momentum towards driving a cashless economy.

The pact with NCS will enable over 10,000 members of the society to remit their annual dues through Remita, an e-payments system developed by SystemSpecs.

The two organisations said the partnership is a boost to the cashless policy of the Central Bank of Nigeria (CBN) to promote the use of alternative technology channels to replace physical cash across the country.

Through the agreement, individual members of NCS will issue standing orders via SystemSpecs’ Remita software to their respective banks and the banks remit the various payments to NCS’ accounts.

“To demonstrate its commitment towards ensuring that NCS members fully embrace the electronic remittance initiative in compliance with the CBN’s policy, SystemSpecs has waived its normal standing orders fees for NCS members for the 2014 annual dues,” John Obaro, Managing Director of SystemSpecs said.

“With this gesture, our objective is obvious. We want to reduce people’s need for handwritten cheques. We want to reduce the need to make payments using physical cash. For routine payments like membership fees, subscription payments and so on, you do not have to keep writing cheques all the time. Individuals can use Remita to hand-write a cheque normally or issue standing order payments. These are what the CBN’s cashless policy is about,” Obaro added.

“The solution helps organisations and banks to comply fully with the CBN’s guidelines on end-to-end electronic payment of all forms of salaries, pensions, suppliers and taxes in Nigeria. Users can make payments into accounts in commercial banks, microfinance banks, mortgage banks and mobile wallets. Users can issue standing order payments for recurring payments, initiate, authorise and monitor payments securely from remote locations, among others.”

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