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Gov lauds CBN’s cashless policy

The ‘cashless policy of the Central Bank of Nigeria (CBN) has been described as a policy that would reduce crime, corruption and money laundering in the country.

The governor of Imo State, Owelle Anayo Rochas Okorocha said this when he received the CBN delegates led by the Head Shared Services, Mr Chidi Umeano who paid him a courtesy visit at the State Government House Owerri.

The policy he remarked would turn around the economy of the nation and also make life easier for Nigerians, and stressed the need for CBN to carry the populace along in the scheme of things.

Earlier in his speech, the Head Shared Services of the Apex Bank, Mr. Chidi Umeano sad that the policy would discourage the high usage and high flow of cash across the economy, which he said has many negative consequences such as high risk of using cash, high subsidy, high cost of cash and informal economy.

He noted that the main objective of the policy is to meet up with the vision 20-20 requirement, modernize Nigerians payment system, reduce the cost of banking services, improve effectiveness of monetary policy foster transparency, curb corruption leakages in the society as well as improve the Internal Generated Revenue (IGR) of the state and called on all Nigerians to embrace the policy to enable the country move forward.

Speaking also, the Comptroller, CBN Owerri Branch, Mr Aligwe Romanus Kalik commended the state governor for providing a conducive environment for banking sectors in the state through massive developmental projects and security. He observed that the CBN Owerri branch is in the upswing as the No. 1 among the 36th branch of CBN in the country.

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