WHY NIGERIA SHOULD GO CASHLESS –CBN Category: News Published on Wednesday, 19 March 2014 05:00 Written by Atika Balal, Katsina Hits: 574 If Nigeria is to achieve its goal of becoming one of the largest economies in the world by the year 2020, it must adopt the Central Bank of Nigeria’s (CBN) cash-less policy, branch controller of CBN Katsina, Adamu Mohammed Hassan, has said. Speaking in Katsina at a stakeholders forum on the policy, Hassan said Nigeria cannot afford to remain a local player in the competitive global economy it aspires to lead. The policy, which was introduced in Lagos in 2012, was extended to Abuja, Kano, Rivers, Anambra, Ogun and Abia states in July 2013. Though its major aim is to minimize the use of cash in the economy, Hassan said its implementation would also curtail vices like armed robbery, kidnapping and corruption. He urged Nigerians to support the policy, adding that its advantages cannot be overemphasized. “It is envisaged that the cash-less policy would enhance the efficiency of our payment systems, bring down cost of banking services and reduce revenue leakages,” he said. The policy is expected to be implemented nationwide by July 1.
Posted on: Wed, 19 Mar 2014 07:57:30 +0000
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