What Do You Know About Central Bank of Nigeria’s Cashless Policy?

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Onyeakachi Obasi
Onyeakachi Obasi
Hamsat Ibrahim
Hamsat Ibrahim

LAST year, the Central Bank Nigeria, CBN, announced that the country would go cash-less this year. This policy has generated a lot of controversy with some people asking how prepared is the CBN in the implementation of the policy. Below is what Nigerians think of the policy.

Onyekachi Obasi, hotelier: I don’t know much about the policy. I have read it in the newspapers but I don’t know the details.

Hamsat Ibrahim, fitness instructor: I am not very clear about what it means. I only know that it involves cashless transactions.

James Adebayo
James Adebayo

James Adebayo, civil servant: I have heard about it but it does not bother me in any way because I don’t handle cash that would require e-transaction. For now, I do not handle cash up to the maximum individual withdrawal limit of N500, 000. As you can see, I’m a petty trader.

Ogana Ikechukwu
Ogana Ikechukwu

Ogana Ikechukwu, businessman: Cashless policy is another policy this administration is using to embezzle public funds. For me, I know about it but how much do the petty traders in the streets and markets know of the policy? If they succeed in implementing the policy, who and who are going to benefit from it? That is the question you should be asking. The CBN gave some of us in Alaba International Point of Sell, POS, in March last year. If you go round now, you will find out that most of them have never used it since then. They should inform Nigerians before implementation.

Tansimaria Kwaghtaher
Tansimaria Kwaghtaher

Tansimaria Kwaghtaher, trader: I don’t know much about it and I don’t even care because it will not put food on my table or care for my family. The CBN should create more awareness about the policy, and the mode of opeartion to people like me.

Compiled by Anayo Ezugwu 

— Jan. 28, 2013 @ 01:00 GMT

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