The Central Bank of Nigeria CBN has reiterated its commitment to the smooth implementation of its reintroduced cashless policy and the naira redesign policy
The CBN Governor Godswin Emefiele represented by the deputy governor Financial System Stabilty (FSS) Aisha Ahmad said this, during the House of Representatives plenary briefings on the 22nd of December 2022.
While making clarifications on both policies, she stated that these policies are not aimed at any group rather the policies will be of great benefits to Nigerians.
“Cashless policy will boost economic opportunities for small businesses and rural communities to facilitate trade and improve livelihoods, thereby boosting economic growth,” she said
Emefiele while commending the National Assembly for its strong advocacy on behalf of Nigerians sort for their support stating that these new policies will not disenfranchise Nigerians in the rural and underserved areas.
He also pledged the bank’s flexibility to make necessary adjustments to ensure wider public acceptance.
“It is in the public interest to promote an efficient payment system via the cashless policy which helps reduce the punitive costs of cash processing,” he added
The CBN Governor further listed reduction of cost of cash management and reduced incidences of crime as some of the benefits of the cashless policy noting that the apex bank will continue to engage the National Assembly on matters relating to monetary policies and the economy at large.
