Entrepreneurs Laud CBN’s Cashless Policy


Entrepreneurs in some areas of Port Harcourt have commended the Central Bank of Nigeria (CBN) for the cashless policy which they said has helped their businesses to some extent, though according to them, there are still grey areas that need to be addressed.
In an interview with The Tide in Port Harcourt, a bulk trader who supplies rice and beans to distributors at Mile 111, Mr Chizurum Akaeze said the policy is the best thing that happened in his business.
Akaeze said the policy has curtailed the rate of criminal operations on Nigerian highways as business men and women no longer move with cash.
Similarly the Director of Danlily Motors International, Mr Daniel Peters, said the policy has made his business transactions easy unlike when he travelled with cash to Cotonou.
Peters noted that there are still grey areas that need to be addressed by the Apex Bank like the unlimited ones at the Automated Teller machine (ATM) centres.
He said that “the banks are not helping matters, they will load only one ATM machine and leave five others, delaying business men and women who are working against time”.
Another entrepreneur at Elopowanwo, Mrs Patience Chijioke who owns a grocery store said the policy and financial inclusion is good but the banks should work on their networks that are always giving problems to account holders.
Chijoke called on the banks to ensure that they help the poorly educated rural dwellers to be part of these easy transactions.
“Sometimes the queues at the ATM centres make it difficult for me to use the system and others still share the same view. The queues also give opportunity for criminals to operate at the centres”, she said.