Acting CBN Governor, Dr. Sarah Alade, who spoke in Yola at a three-day sensitisation stakeholders’ forum on the new cashless policy, said that already herdsmen had embraced the policy in many parts of the country, so the argument that they operate in rural areas had lost relevancy.
Meanwhile, Nyako, who asked the apex bank to exclude the herdsmen from the cash-less policy, said that the policy would discourage the nomadic Fulani from taking their monies to banks.
Alade, who was represented at the occasion by the Yola Branch Controller, Alhaji Yahaya Abdullahi Lawan, said that the cashless policy was designed to modernise Nigeria’s payment system, reduce high security and safety risk and reduce the cost of banking services.
“It is however important to stress that this policy intends to reduce and not eliminate the use of physical cash for payment in Nigeria”, she stated.
The CBN stated further that the aim of the policy was also to curb corruption, revenue leakages and foster transparency in the management of Nigeria’s economy.
“Other ills associated with a cash centric economy include but is not limited to the following: robberies and related cash crimes, kidnapping, revenue leakages, in-efficient treasury management and corruption”, she added.
She warned commercial banks operators that CBN would not tolerate any bank that is reported by any customer for criminal charges.
The governor, who was represented by the state Commissioner for Finance, Alhaji Ibrahim Vokna, appealed to the authorities of the CBN to take the cash-less policy to the rural areas and ensure that necessary facilities for effective operations of the policy are in place in order not to bring hardship to rural dwellers.
He said that Adamawa State government had already taken steps to embrace cash-less policy by introducing electronic revenue collecting system and other sectors.
Bankers, market women, government officials and other organised institutions attended the stakeholders’ forum.
Source: Guardian
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