BEDC wins CBN’s cash-less payment award

Benin Electricity Distribution Plc. (BEDC), on Thursday in Lagos, became the first electricity distribution company to emerge a winner in the maiden edition of the Electronic Payments Incentives Scheme (EPIS) Efficiency Award as it came tops as the best Cashless Driver-Corporate category.

The Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement Scheme (NIBSS) Plc initiated the award, according to a statement from BEDC.

The award was presented to the Chief Strategy and Transformation Officer, Ernest Edgar, who represented BEDC at the event, for the company’s outstanding contributions to the growth of electronic payment industry in Nigeria and for pushing deeper, the adoption of e-payment platforms in the electricity distribution industry, in line with CBN’s Cashless policy anchored on electronic payment system as contained in Vision PSV 2020.

The Cashless Driver Corporate category, which had two corporate nominees, BEDC and Ikeja Electric, is a platform to recognize, appreciate and reward stakeholders, notably in the payment industry, such as banks, payment processors, card issuers, payment terminal service providers, mobile money operators as well as government and private sector companies that have contributed to the success of the cashless initiative across the value chain.

Speaking at the presentation ceremony, CBN Deputy Governor Operations, Alhaji Suleiman Barau and MD/CEO, NIBSS, Adebisi Shonubi said: “Benin Electricity Distribution Plc Is presented with the award for the company’s outstanding performance in driving the CBN’s Cashless initiative by recording the highest transactions count in NIBSS Electronic bills payment platform for the year 2015”.