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welcome to Gods Own TV [Music] the Central Bank of Nigeria in line with its mandates to promote stability inclusion and growth in the financial and payment system has introduced the National Domestic card scheme that becomes effective on January 16 2023 a card payment scheme is a payment Network that processes payments using debit and credit cards this new card will be cheaper to maintain and it will encourage more Nigerians to open bank accounts although the Apex bank is yet to disclose the procurement costs and operational charges Nigerians will from Monday receive a new electronic card for local transactions that will be charged in Nigeria currently Nigeria financial institutions feature three card payment providers namely Visa Mastercard and verb by inter-switch the card is expected to compete with other debit cards including MasterCard visa and Verve cards operating in Nigeria with the launch of the domestic card payment scheme marjora will join the likes of India Brazil and tur