Cashless Policy: CBN Apologises, Sympathizes With Nigerians

Last updated on September 11th, 2021 at 03:23 pm

Nigeria’s apex financial institution, the Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the newly introduced cashless policy will cause.

Godwin Emefiele, the Governor of Central Bank, made the apology at the end of the Monetary Policy Committee (MPC) meeting in Abuja on Friday.

He stated this when he was asked of his reaction to the push back from Nigerians over the return of charges on deposits and withdrawals beyond certain thresholds. He said,

“I sympathize and regret inconvenience cashless policy will cause bank customers.”

Emefiele, who also spoke on the controversial judgement debt of $9.6 billion awarded to P&ID, maintained that “by the grace of God there is no threat to the reserves…..and we have received presidential approval that those indicted should be prosecuted.”