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CBN Upgrades IT Infrastructure

Posted by By Linda Elueme on 2005/06/23 | Views: 484 |

CBN Upgrades IT Infrastructure


The Central Bank of Nigeria (CBN) has said that it is currently implementing a state-of-the-art enterprise management and security infrastructure to support its IT operations.

The Central Bank of Nigeria (CBN) has said that it is currently implementing a state-of-the-art enterprise management and security infrastructure to support its IT operations.

Deputy Governor, Corporate Services CBN Mr. Ernest Ebi made this known at a conference on "Information Technology Consolidation in Banking" held in Lagos.

Ebi noted that the IT transformation of the CBN is aimed at repositioning the bank to support the on-going reforms in the Nigerian banking system.

"A robust corporate network, with a state-of-the-art enterprise management and security infrastructure is being implemented to support twenty four seven operations of major IT initiatives covering our mandate dimensions of regulation, policy and operations", he said.

To support business processes, he said that CBN is implementing an Enterprise Resource Planning (ERP) solution, the Oracle e-Business Suite to maintain an effective and efficient back-office and facilitate reliable support services.

He said that the apex bank is implementing the enhanced Financial Analysis and Surveillance System (e-FASS) in order to provide an effective operation and risk management tool for all stakeholders.

He noted that the Real-Time Gross Settlement (RTGS) system will be at the centre of the national monetary policy implementation. while revolutionalising the quality, efficiency and safety of payments services industry-wide.

He maintained that the deployment of GLOBUS banking system was chosen due to the numerous advantages the deployment would have on the bank's operations.

"It would engender full automation of all banking processes, eliminate manual reconciliation, enhance the consolidation of transactions to meet reporting needs, ensure access to financial and management positions at all times...", he said.

He said that come December 2005, merging banks ill not be allowed to use different IT systems even though the banks coming together have the same core banking software.

He advised banks consider taking the route of low risk, maximise existing investments in IT, avoid security lapses and get professional technology integration advise in their due diligence.


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Comments (6)

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Joel Efiong(Calabar, Nigeria)says...

This is a great piece. The examination bodies should hire you as ICT consultant.

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Sunday Mbe(Kaduna, Kaduna, Nigeria)says...

ULIMASI means' GOD,THANK YOU' not THANK GOD.

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Sunday Mbe(Kaduna, Kaduna, Nigeria)says...

The name ULIMASI is from the UTUGWANG tribe in OBUDU local government area of CROSS RIVER STATE in Nigeria.

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Okfold(Sobe, Edo, Nigeria)says...

I want the meaning of female owan name Ekeke (Edo state)

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Toluwalase Samuel Olufemi(Ijebu, Ogun, Nigeria)says...

Authority belongs to God, once He decrees it is final and binding