Abuja — The National Assembly Anti-Money Laundering and Cyber Security Coalition and Policy Analyses and Research Project (PARP) are collaborating with the Office of the Accountant General of the Federation (AGF) to review the electronic payment system.

This is following presidential directives to look at the problems associated with the method of payment.The coalition has proposed a special legislative briefing in December for members of the National Assembly, officials from the ministry of finance, Accountant General office, the Nigeria Communication Commission (NCC), and other major stakeholders in the finance and telecom sectors.

Chairman of the Local Organising Committee of the session Rufus Omeiri said at a joint meeting of the Accountant General Office, the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC) and members of the national assembly, said the special briefing will further examine the effectiveness and sustainability of the e-payment programme.

He said many Nigerians are yet to understand the significance of the new federal payment system which was introduced to check the huge transfers of cash within federal ministries departments and agencies across the country.

"The policy of e-payment requires an enabling law which is not in place for now, and it is only constitutionally expedient for relevant laws to be enacted to protect the implementation of the federal payment system", he said.

He said the briefing will provide a platform in which major stakeholders will be given the opportunity to offer explanations to the Nigeria people on the effective operations of the system and the vulnerability to online criminality.

The summit is expected to be declared open by President Umaru Yar'adua while the minister of justice, chairman Independent Corrupt Practices and other Related Offences Commission (ICPC), chairman Economic and Financial Crimes Commission (EFCC), National Security Adviser, Auditor General of the Federation, Head of Service of the Federation, among others are expected to make presentations.