The Central Bank of Nigeria has advised banks and Bureau de Change operators on the need  to sensitise their customers to the cash-less policy.

According to the News Agency of Nigeria, a Deputy Governor in CBN, Mr. Tunde Lemo, told the audience at a stakeholders meeting recently to update their payment system to enhance her global competitiveness.

Lemo said that the effectiveness of the policy would depend largely on the collaboration of all stakeholders and the government.

“Some of the benefits are safety of cash from robbers, electoral malpractice and the promotion of financial inclusion.

“Others are the reduction in cost of credit, transparency and it curbs corruption and leakages,”

Lemo was represented by a deputy manager in the bank, Mr. Babatunde Ajiboye,.

Earlier, the branch Controller of CBN in Awka, Mr. Azubuike Okoro, said that Anambra was strategic because of her high commercial activities.

Okoro said the policy was also a good option for the people in view of the high volume of cash transactions in the state.

The controller said that the apex bank would soon embark on sensitisation campaigns in the commercial cities of Onitsha, Nnewi and Ekwuluobia.

According to him, the campaign, which will include street shows, will also be taken to all communities in the state.

The cashless policy, which was earlier scheduled to begin in Anambra and five other states on July 1, was rescheduled for October 1.

Source: Punch