The Central Bank of Nigeria (CBN) says it is poised to develop and implement its cash-less policy.<\/p>\n
Mr Tunde Lemo, CBN Deputy Governor (Operations), made the promise in Lagos recently at a conference organised by the Businessday Newspapers.<\/p>\n
The conference had the theme: \u201cMobile Technology and the Future of Cash-less Initiative in Nigeria\u201d.<\/p>\n
Lemo said that full implementation of the cashless policy would require the cooperation of other stakeholders in the financial sector to succeed.<\/p>\n
He said that the apex bank would ensure that the nation\u2019s payment system improved and contributed to economic and social development.<\/p>\n
\u201cThe CBN, through the implementation of its cash-less policy, will be better equipped to effectively manage Nigeria\u2019s monetary system.<\/p>\n
\u201cA more effective payment system will boost efficiency and enthrone transparency for both the private and public sectors.<\/p>\n
\u201cIt will lead to increased consumer trust in our monetary system,\u201d he said.<\/p>\n
Lemo said that the cash-less policy would complement CBN\u2019s policies on interest and inflation management, legal tender issuance and monetary system management.<\/p>\n
He said the policy, when implemented nationwide, would also provide the much needed empowerment to small businesses, entrepreneurs and cooperatives.<\/p>\n
\u201cInitially, people thought that the emergence of a cashless society is not attainable.<\/p>\n
\u201cBut, today, our society is voluntarily transiting into a cashless system.<\/p>\n
\u201c We are witnessing this transition in varying degrees from Europe to America, Asia, the Pacific Regions, Africa, Middle East and the world over,\u201d Lemo said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Central Bank of Nigeria (CBN) says it is poised to develop and implement its cash-less policy. Mr Tunde Lemo, CBN Deputy Governor (Operations), made the promise in Lagos recently at a conference organised by the Businessday Newspapers. The conference had the theme: \u201cMobile Technology and the Future of Cash-less Initiative in Nigeria\u201d. Lemo said […]<\/p>\n","protected":false},"author":43,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-54244","post","type-post","status-publish","format-standard","hentry","category-icttelecom"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/54244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54244"}],"version-history":[{"count":0,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/54244\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}