Federal Civil Service Promotion Exams 2020 – e-Payment is for current posting in head of service. Federal civil service commission promotion list 2020. In fact, grades 6 and 7 civil servants tend to be experienced officials. They are also with significant policy responsibilities. On the other hand, senior Civil Service (SCS) is the most senior grade of the civil service. This cadre is the senior management team. However, to move from one grade to the other demands a promotion. This promotion come by examination test. This post is to help you get to your next level. So, read on.
The questions here are on e-payment. As a matter of fact, this question cuts across all cadre of civil service examination. Just take a look at these questions and their answers to refresh your knowledge. That may be the magic you want.
RLEVANT QUESTIONS FOR Federal Civil Service Promotion Exams 2020 – e-Payment
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What is e-payment? When was it introduced in Nigeria?
ANSWER
As a matter of fact, E-payment means electronic payment. This is government new policy on official payments. Government designed it to ensure more transparency and accountability in the way government transacts are carried out.
Furthermore, it was introduced in Nigeria on January 1st 2009. The AGF office had on October, 22, 2008 issued a treasury circular making this mandatory. Hence, it became mandatory for agencies of government. That’s. to begin implementation guidelines for e-payment from all funds of the Federal Government immediately.
What are the objectives of e-payment?
The objectives of e-payment are:
- The primary objective of e-payment is to facilitate payment. Therefore, payment from one end to another through the medium of computer without manual intervention beyond imputing the payment data became the order of the day.
- Furthermore, the electronic payment system has reduced human interface in payment for jobs. By this government introduce more transparency in the system.
- On the other hand, electronic payment system makes it possible to traced monetary transactions for review.
List the methods of electronic payment.
Methods of electronic payments:
There are various medium for e-payments. These include
- Credit cards,
- Debit cards system comprises direct deposit, direct debit and electronic checks.
- Wire transfers.
- Automated Teller Machines.
- Mobile payments.
List at least one (1) transaction covered by the e-payment.
Transaction covered by the e-payment:
Under the e-payment regime, all payments from any government fund are important. However, the following payments are very critical:
- Payments to contractors
- And, Payment to consultants.
- All payments to service providers
- All payments to staff.
- And, payments to other government agencies.
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Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
