‘No Going Back On Cashless Policy’ – Emefiele Rebuffs Public Outrage

‘No Going Back On Cashless Policy’ – Emefiele Rebuffs Public Outrage

By Wires Editor | The Trent on September 22, 2019
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Godwin Emefiele, CBN, Skye Bank, Shehu Mikail, Boniface Okezie
Godwin Emefiele, the governor of the Central Bank of Nigeria

The Central Bank of Nigeria, CBN, on Friday, September 20, 2019, said it would continue to implement the cashless policy in line with its mandate to ensure an efficient payment system.

Godwin Emefiele, the CBN governor, said this while briefing journalists shortly after the Monetary Policy Committee meeting.

He said that contrary to claims in some quarters that many Nigerians would suffer the negative impact of the policy, only about five to ten per of bank customers would be affected.

He said if the Nigerian economy is to compete effectively with those of developed countries, then a payment system that encourages the use of other non-cash channel was desirable.

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