Sanusi reiterates commitment to cashless policy

The Governor of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi, has reiterated his call on stakeholders to ensure the successful implementation of the cashless policy in the country.
Sanusi made the call in Enugu on today in a message to the symposium on MSME Cluster Forum on Cash-lite Economy/4^th Enugu Christmas Shopping Festival organised by the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA).
The governor, who was represented by the Head, Shared Services Office in Lagos, Mr Chidi Umeano, said the bank had identified key issues to make the policy a success.
They include mass enlightenment campaign, massive deployment of Points of Sales (POS) terminals, licensing of mobile payment operators and terminal service providers as well as inauguration of the Nigeria electronic fraud forum.
``I wish to state that the cashless policy has gained traction with a lot of achievements in the areas of adoption basically because of the efforts of the concerned stakeholders such as the organisers of this event,’’ he said.
Sanusi, who spoke on the theme of the fair entitled ``The challenges and opportunities of the cashless economy in Nigeria: Evolving strategies for its successful implementation,’’ said the apex bank had taken steps to mitigate the challenges.
``There are challenges like connectivity issue, infrastructure, high illiteracy rate, availability of functional channels and so on.
``We have taken steps to mitigate these challenges,’’ he said.
The governor commended the efforts of ECCIMA in sensitising the masses on the policy, hoping that by the end of the fair, the cashless policy would receive a boost.
Earlier, the President of ECCIMA, Dr Theo Okonkwo, said the symposium and 4^th Christmas Shopping Festival would enlighten the general public on the mobile money options and the attendant opportunities.
Okonkwo said the festival would feature a great level of shopping and buying at a discounted rate in preparation for the festive season.
Some of the stakeholders who spoke with newsmen lauded the cashless policy but urged the CBN to urgently address its attendant challenges.
Mr Odega Jideonwo, the Chairman of Oakland Amusement Park, said the cashless policy was long over due in the country.
``Nigerians should welcome the policy with open arms for our own good in spite of its challenges,’’ he said.
Jideonwo advised regulators to monitor the telecommunication service providers who were the backbone of the policy to ensure that they improved their network availability.
Ven. Emeka Ezeji of the Enugu Diocese of the Anglican Church described the policy as a welcome development as it would reduce the high usage of cash.
Ezeji, however, advocated that religious bodies should be given concession in the area of charges.
The 10-day festival holding at the old trade fair ground on Abakiliki road will end on Dec. 10