The Central Bank of Nigeria (CBN) has said it will be taking decisive steps to ensure that the country operates on a 100 per cent cashless economy as the
Speaking at the first-year anniversary of the enaira, the country’s Central Bank Digital Currency in Lagos yesterday, the Governor of the CBN, Godwin Emefiele said the goal of the apex bank is to make Nigeria 100 per cent cashless.
He noted that all infrastructure that is needed to ensure this such as the CBDC, online banking, Payment System Banks , point of sale terminals agent banking, mobile banking and ATMs have since been deployed to ensure the smooth operations of a cashless economy. To this effect, Emefiele said the CBN will from today, Wednesday October 26, 2022 begin to issue pronouncements that is directed at ensuring a 100 per cent cashless economy. “The destination as far as I am concerned is to achieve 100 per cent cashless economy in Nigeria. I know that those who doubt us will say that 100 per cent cashless is unattainable. Yes it is true, but Nigeria must move from being a predominantly cash economy to a predominantly cashless economy.
“At this time, I can say from what I have read from online banking to POS to ATM, mobile banking working and collaborating with the I want to say we have provided all the needed infrastructure that will enable us make cashless a nationwide journey. It is not something that some of us will like but we would in the coming weeks and months make pronouncements that must make cashless go nationwide.
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