The Central Bank of Nigeria (CBN) has reiterated the plan to fully implement the cashless policy which is expected to ensure swift and seamless payments as from March 31, 2020.
Director, Corporate Communications department of the CBN, Mr. Isaac Okoroafor disclosed this at the bank’s fair in Asaba.
Currently, only Kano, Rivers, Ogun, Anambra, Lagos, Abia and the FCT have complied with the cashless policy. Okoroafor also said the bank had been sensitizing Nigerians on the policy.
The CBN’s cashless policy Phase 1 took off in Lagos on January1, 2012. The states of Abia, Anambra, Ogun, Kano and Rivers as well as Abuja, were added in Phase 2 which started on October 1, 2013. The third phase started in June 2019 across 30 states.