Rivers State Governor, Rotimi Chibuike Amaechi has approved
the cashless policy by the Central Bank of Nigeria (CBN) to take off in the
state.
According to Governor Amaechi who disclosed his approval while
hosting the CBN Deputy Governor of operations, Mr. Tunde Lemo and his team at
the Rivers State Governor’s Lodge, Abuja, as part of the bank’s sensitisation
programme ahead of the commencement of the policy in Rivers yesterday, said the
policy would curb corruption in Nigeria.
He stated that his support for the cashless policy stemmed
from his conviction that the policy, as designed, would reduce the volume of
physical cash in circulation, thereby narrowing the window of corruption.
Lemo speaking explained the benefits of the cashless policy,
noting that the policy did not in any way denote a zero cash policy.
The CBN Deputy Governor of operations said the aim of the policy
is to modernise the Nigerian economy, as well as reduce the volume of cash used
for business, through shared services among Deposit Money Banks (DMBs).
The policy which has been running in Lagos for the past 18 months
would take off in five other states including the FCT from Monday, July 1.
The five states are; Abia, Anambra, Kano, Ogun, Rivers and
the Federal Capital Territory, Abuja.
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