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CBN set to pursue cashless policy

by CredibleNews

The Central Bank of Nigeria intends to reduce the number of naira notes in circulation to make government’s cashless policy more effective.

The Branch Controller of the bank in Cross River State, Chuks Okoroafor said the bank has designed array of initiatives to make more money available for local people to boost their businesses.

He urged farmers, entrepreneurs and individuals to initiate good ideas and tap into the different funds  set aside to empower Nigerians. He also cautioned against the poor handling of naira notes, saying the apex bank seriously frowns at it.

He noted that the naira is the face and image of the country, lamenting that many people handle it with total disrespect. He called on Nigerians and other people not to deface the naira or squeeze it or use it to wrap or clean one’s face.

He hinted that the CBN may begin to apply sanctions against poor handling of the naira and indicated that the apex bank is working seriously at mopping up dirty or torn naira notes.

The CBN official encouraged Nigerians to always call at the offices of the CBN close to them if they have complaints or issues with their local bankers so that their rights can be addressed. “We want Nigerians to know that CBN is available for all Nigerians to access information on their rights or know what funds they can access for their benefits,” he said.

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