CBN Launches DocFlow System and MDAs Naira Payment Solution in Digital Transformation Drive
The Central Bank of Nigeria (CBN), led by Governor Olayemi Cardoso, has introduced two groundbreaking innovations as part of its digital transformation journey: the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution.
Unveiled during a ceremony at the CBN headquarters in Abuja, these initiatives align with the bank’s “Digital First” agenda, which seeks to enhance central banking operations through advanced technology. They reflect the CBN’s commitment to improving efficiency, streamlining processes, and fostering sustainability in financial management.
Governor Cardoso highlighted the DocFlow System as a revolutionary tool for digitizing the bank’s document management processes. By minimizing paper use, the system supports environmental sustainability and accelerates approval workflows.
Meanwhile, the MDAs Naira Payment Solution automates cash withdrawal processes for Ministries, Departments, and Agencies, ensuring faster and more efficient transactions while reducing errors and irregularities.
Both solutions were developed in-house by the CBN’s Information Technology Department, showcasing the bank’s technical expertise and delivering significant cost savings.
