The Central Bank of Nigeria (CBN) has introduced two cutting-edge digital initiatives, the Document Flow (DocFlow) System and the MDAs Naira Payment Solution, aimed at streamlining financial operations in the public sector. The launch, held on January 15, 2025, at the CBN headquarters in Abuja, states the Bank’s commitment to its “Digital First” transformation agenda initiated by Governor Olayemi Cardoso in December 2023.
The DocFlow System is designed to digitize document management processes, reducing reliance on paper while improving approval workflows and overall efficiency. Governor Cardoso highlighted the importance of this innovation, describing it as a critical step toward enhancing operational excellence within the Bank.
In addition, the MDAs Naira Payment Solution is set to revolutionize cash withdrawal processes for Ministries, Departments, and Agencies (MDAs). The automated system aims to enhance service delivery, improve transaction accuracy, and bolster fraud prevention efforts. Emem Usoro, CBN Deputy Governor of Operations, commended the initiative for its potential to reduce errors and accelerate payment processing times.
Jide-Samuel, Acting Director of the CBN’s Information Technology Department, revealed that the MDAs Naira Payment Solution had undergone successful trials with several MDAs. She confirmed its effectiveness in streamlining financial operations and enhancing public sector efficiency.
The launch of these initiatives reflects the CBN’s focus on leveraging technology to drive sustainability, reduce operational costs, and improve service delivery across Nigeria’s financial ecosystem. These advancements align with the Bank’s broader goals of fostering innovation and strengthening governance in public sector financial management.
