The current policy of limiting the amount of money citizens can collect from Automated Teller Machine and banks is projected as an extension of mopping up liquidity aside from the promotion of a cashless economy being sold to us. One does not know whether the CBN took cognizance of the operating environment for a cashless economy.
What the CBN should do, therefore, is to look at what has been responsible for the latest growth and strengthen such. The new policy is likely to create casualty in the POS business with greater effects on the informal sector generally. There is a need to strengthen the required infrastructure.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: