Review cashless policy implementation, Kano Emir to CBN

The Central Bank of Nigeria, CBN, has been advised by the Emir of Kano, Alhaji Aminu Ado Bayero to review cashless policy implementation.

He said, there is no need for commercial banks not to be in a haste to implement the policy, stressing that it should be a step-by-step Implementation in order to carry bank customers along to enable them familiarise with the policy.

The first class monarch said, despite the laudable policy, its mis-implementation has brought an untold hardship on the citizens of the country.

He stated this on Friday when a team of the Bankers Committee paid him a courtesy call in Kano.

He insiated that there was no need to rush on the policy, adding that Banks should embark on aggressive public enlightenment on positive changes bank customers stood to get if they embrace the policy. He also advised them to get feedback from people as it would help them to succeed in the policy.

“People have suffered so much as a result of this policy. This is because people were rushed into it. So now that you are here, we advise that you should look into the challenges people are facing and consider reviewing the implementation process.

Take it easy and steady for people. You cannot do this in a haste, people need time to accept and get acquainted with the policy.

“Every good change is like this, people hardly accept it at once. You should also consider people in the rural areas because they suffered the most during this hard time.”

He advised that the e-Banking system should be improved as it also contributed to the challenges people were facing, adding that, “You should liaise with the phone and SIM companies to ensure that the process is made easier for people.”

Speaking earlier, a Deputy Director of the CBN, who was also the team leader, Muhammed Hamisu Musa said the essence of the visit was to seek for the blessings of the Emir and also to urge him to enlighten the public to embrace cashless policy because it has come to stay.

The Deputy Director added: “We know that culture change is not easy, that is why we are trying to take it gradually on people so that they will accept the policy. We are trying to bring out the benefit of the policy at least it will motivate them to accept the policy.”