CBN takes Cashless Policy to Kano, Anambra, Abia, Rivers and Ogun
Central Bank Governor, Lamido Sanusi
Following the launch of “project cashless lagos” which was launched last year by Central Bank of Nigeria (CBN) in Lagos state as pilot scheme to help discourage the use of cash in day-to-day transactions, the CBN, having recorded success in the pilot has concluded arrangement to introduce its cashless policy in Abuja and 5 other states around the country.
Speaking after the Bankers Committee meeting Tuesday in Abuja, Acting Director, Banking Supervision of CBN, Mr. Benjamin Fakunle said that apart from the FCT, the five other states that would go cashless includes, Kano, Anambra, Abia, Rivers and Ogun.
”In addition to the one that is being operated in Lagos, five states and the Federal Capital Territory would also go cashless. This is an attempt to make sure that the use of cash in transactions is discouraged.”
Mr. Fakunle therefore enjoined Nigerians to use more of electronic channels and less cash in performing their financial transactions.
Also speaking at the post bankers committee briefing, Director, External Communications Division, Mr. Okoroafor Ugochukwu cautioned Nigerians on the dangers of patronising ‘wonderbanks’ saying that they are not regulated by the Apex Bank.
“Any institution that collects money should be one that is registered by CBN.”
While assuring that CBN is working to ensure that those that operate illegal transaction are brought to justice, Mr. Okoroafor urged Nigerians to report to law enforcement agencies any activities of wonderbanks.
“You must watch out for any bank that offers you fantastic interest far above the commercial banks,” he cautioned.
Also, Group Managing Director, Zenith Bank, Mr. Godwin Emiefele disclosed that the purpose of the biometric data\Know Your Customer project embarked upon by the banks is to build a central database where both existing customers and prospective customers of banks data can be collected “such that information in bank A would be the same in bank B about a particular customer of a bank.”
In a similar vein, The Bankers Committee of the Central Bank of Nigeria on Tuesday agreed to remove all major impediments in the bond market, saying such move was needed to facilitate the growth and development of that segment of the economy.
The meeting, which was attended by the Managing Directors of all the Deposit Money Banks, was declared open by the Governor of the CBN, Mr Lamido Sanusi.
