Monarch Hails CBN’s Cashless Policy

A financial expert, Mene
Suanu Baridam has described the introduction of cashless policy by the Central Bank of Nigeria (CBN) as a welcome development.
Baridam, a former banker and spokesman of Supreme Council of Ogoni Traditional Rulers in Rivers State who bared his mind in an interview with The Tide in Port Harcourt recently said the exercise when fully implemented would help the economy of Nigeria and enhance huge money transfer without much stress.
According to him, it would also reduce the issue of dud cheques and armed robbery, and enjoined the public to embrace it.
He also said that the E-Payment would further enable the country key into the fast lane of development in the comity of nations as is in other developed and developing countries.
The royal father noted that for Nigeria to move forward economically, such developments are timely and called on the public to embrace it.
The expert, who hinted that he had been an advocate of cashless policy when he was a staff of Bank of the North and a unionist said it would help the economy grow and facilitate easy transactions and commended the management of CBN for their initiative.
The former banker however, reserved some fear over the good working condition of the internet services in the banks, constant electricity and other cyber crimes, urging the authorities to further put their house in order as to avoid such unforeseen circumstances and jeopardize the whole system.
He also called on the management of CBN to intensify its enlightenment campaigns even to the rural areas to sensitise the common people at the grassroots of the communities whose level of literacy is limited.His Royal He however harped on further enlightenment exercise to sensitise the public on the need and benefits of the E-Payment in Nigeria.