CBN set to implement second phase of cash-less policy in five states, FCT


TUNDE-LEMOThe Central Bank of Nigeria(CBN),says it has concluded arrangements for the implementation of the second phase of its cash-less policy in five states of the federation and FCT.

Thank you for reading this post, don't forget to subscribe!

Chidi Umeano, the Head of Shared Services Office of the CBN, told the News Agency of Nigeria (NAN), in Awka on Tuesday that the second phase of the policy had been scheduled to take-off in Anambra, Abia, Kano, Ogun, Rivers and Abuja from Oct.1.

NAN recalls that the apex bank had deferred the implementation of the second phase of the policy in those states, earlier scheduled to commence July 1.

Umeano said that the CBN had concluded its sensitisation tour of the states proposed for the next phase of the programme, adding that appeals for postponement might not be entertained.

“The policy is on course and we are ready. We have concluded sensitisation in all the five states and FCT. By Oct.1, implementation will kick-off as proposed.

“We will do what the stake holders want; we are not out to punish anybody.Our interest is to make the payment system function effectively in the interest of the economy, and will ensure that everybody is happy,” he said.

Umeano however appreciated the need for the telecommunication system to be effective to ensure the smooth implementation of the policy,assuring that CBN was collaborating with the Nigerian telecommunication Commission to avert hitches.

“We have taken note of the challenges, especially infrastructure, and we are aware they exist, but we must move on. We cannot wait until every thing is right.

“We are working with the NCC to enhance the effectiveness of this policy because efficient telecommunication is key to the success of the programme,” Umeano said (NAN)

Discover more from Naija247news

Subscribe to get the latest posts to your email.

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

Share post:



More like this

Jose Mourinho Emerges as Frontrunner for Chelsea Managerial Role

  Jose Mourinho, the renowned football manager, has become the...

Burna Boy Ventures into Filmmaking as Executive Producer of ‘3 Cold Dishes’

Grammy Award-winning artist, Damini Ogulu, popularly known as Burna...

NNPC Ltd and Schlumberger (SLB) Forge Alliance to Enhance Upstream Operations

NNPC Energy Services Limited (EnServ) and Schlumberger (SLB) have...

Google Unveils Umoja Submarine Cable Connecting Africa and Australia

  Google is constructing a new submarine cable, Umoja, to...

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading