Business

Cashless policy: POS operators call for suspension of N20,000 cash withdrawal limit

Ihesiulo Grace 19 December 2022 0

A group under the aegis of Point of Sale ( POS Operators ) in Nigeria has kicked against the cashless policy of the Central Bank of Nigeria ( CBN ) that wants cash withdrawal limits of individuals per day to N20,000 and Corporate bodies N100, 000. The group which petitioned President Muhammadu

Editorial

EDITORIAL: Banks and the cashless policy

Ihesiulo Grace 16 September 2020 0

The cashless policy is an initiative introduced by the CBN to reduce the amount of physical cash in circulation thereby encouraging the use of electronic platforms for settlement or payment for goods and services. The aspect of the policy earlier introduced in Lagos State from January 1, 2012, tagged (Cash-less Lagos) now became fully effective […]

News

How cashless policy suffocates Nigerians

Ihesiulo Grace 3 September 2020 0

Citizens groan under numerous bank charges ‘Cut cost of governance instead of taxing people’ By Philip Clement The cashless policy introduced by the Central Bank of Nigeria (CBN) has been greeted with mixed reaction. The policy which is targeted at reducing currency in circulation took effect on1st of April, 2020. To this end, some commercial […]

Featured Headlines News

Lekki/Ikoyi Bridge: Lagos begins full implementation of cashless toll Jan. 20

Ihesiulo Grace 20 January 2020 0

The Lagos state government on Sunday said full implementation of cashless policy at the Lekki/Ikoyi Bridge Toll Plaza would commence today. Commissioner for Transportation, Dr. Frederic Oladeinde, in a statement by the Public Affairs Unit of the ministry, said that full implementation of the policy had become necessary. The state government had in 2019 announced […]

Banking Business Economy Money Money

Implementation of cashless policy poses threat to MSMEs survival – MAN

Ihesiulo Grace 2 October 2019 0

The Manufacturers Association of Nigeria (MAN) has said that the implementation of the cashless policy on withdrawals may have a negative impact on Micro, Small, and Medium Enterprises (MSMEs) that are clearly the engine room for growth of the economy and employment generation. Expressing its concern over the possible implication of Central Bank of Nigeria […]