The Central Bank of Nigeria (CBN), yesterday, intensified campaign for stakeholders and institutions to embrace and adopt the e-Naira policy.Officials of the apex bank, led by Ondo State Acting Branch Controller, Samuel Giwa, visited the Federal University of Technology, Akure (FUTA), to intimate principal officers, members of staff and students of the institution on the need to key into the payment system.
Currently, the conventional banking system in Nigeria is facing fierce competition from financial technology companies popularly known as Fintech, majorly as a fallout of the shoddy implementation of the cashless policy of the CBN...
Catfish farmers have lamented low patronage due to the cash crunch across the country occasioned by the Central Bank of Nigeria (CBN) cashless policy and naira redesign.
Speaking strictly legally, all policies and programmes of government should be tailored towards the provisions of section 14 (2) (b) of the Constitution of the Federal Republic of Nigeria, 1999 which state that the security and welfare of the people shall be the primary purpose of government. In other words, all plans and actions of government at any point in time should be targeted towards achieving the common good.
The cashless policy coupled with the change in the naira note has presented a humongous challenge for individuals and businesses. People are trying to withdraw the new naira notes but being offered the old notes or even coins.
The National Security Adviser (NSA) Maj.-Gen. Mohammed Monguno (rtd), has said that the change of currency and cashless policy of the Central Bank of Nigeria (CBN), if not well thought out, may affect operations of troops in the field.
2 Apr 2022
A Federal High Court sitting in Lagos has struck out a suit challenging the implementation of Cashless Policy by the Central Bank of Nigeria (CBN).
21 Jul 2021
Experts in the technology industry have stated that the lack of trust in the use of digital platforms could undermine the benefits of the Central Bank of Nigeria (CBN) cashless policy.
30 Sep 2019
Transactions through electronic payment (e-payment) channels that would facilitate the country’s planned cashless policy hit a cumulative value of N284 trillion in the first half...
30 Sep 2019
The Central Bank of Nigeria (CBN) has re-introduced charges on the deposit and withdrawals of sums above N500, 000 to promote a cashless economy.
27 Sep 2019
The Central Bank of Nigeria (CBN) has maintained that the implementation of the cashless policy will not impoverish small businesses and Nigerians as it is being insinuated in some quarters.
22 Sep 2019
Dr Aminu Usman, Head, Economics Department, Kaduna State University, has urged the Central Bank of Nigeria (CBN) to carry out robust campaigns to sensitise Nigerians to understand the need for bank charges on deposits and withdrawals.