Cashless Policy: CBN Buys Time In Kano

The Governor of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi, has advised businessmen and women in Kano State to bear with the new cashless policy in order to ensure its success.
Lamido made the remark at the closing ceremony of the 34th Kano International Trade Fair in Kano on Wednesday.
He said the policy was meant to enhance economic activities in the country.
According to him, the new policy will not only improve efficiency of Nigeria’s payment system but will also contribute to the country’s economic and social development.
“Even though any policy has its own challenges but this policy is meant to modernise the country’s payment system which as time goes on, you will come to appreciate it.
“It is also important to note that this policy intends to eliminate the old system of carrying huge physical cash for payment in Nigeria.”
He commended the organisers of the fair for their foresight, saying the fair would go a long way in boosting socio-economic activities in the state.
Earlier, the President of the Kano Chamber of Commerce, Industry, Mines and Agriculture, Alhaji Umar Dansuleka, described this year’s trade fair as the best in the past 20 years.
He commended Kano State Government and the CBN for their support toward the success of the fair.
The Tide source reports that Sokoto State was awarded the best exhibitor and best stands awards while NEXIM Bank and First Bank of Nigeria Plc were given the sponsors of the year award at the occasion.