The House of Representatives has resolved to examine the level of compliance with the cashless policy by government agencies and business outfits in the country in order to ensure smooth implementation of the policy by the Central Bank of Nigeria (CBN).
The resolution was sequel to the unanimous adoption of a motion sponsored by Hon. Edward Pwajok (PDP, Plateau) at plenary yesterday, which was aimed at ameliorating the sufferings of Nigerians.
Moving the motion, Pwajok expressed worry that the vision for which the apex bank introduced the policy was not being adhered to by both public and financial institutions.
He said that the policy was partially successful in few cities because there seemed to be no measures in place to compel adherence.
“Many supermarkets, shops, hotels not only still transact business in cash, but outrightly inform customers that they accept only cash,” he noted.
The lawmaker added that the installation of Automated Teller Machines (ATMs) within the premises of supermarkets, hotels and shops to enable citizens withdraw cash for transaction was counterproductive to the policy.
According to him, Nigerians are compelled to withdraw huge amounts of cash with charges and the attendant risks.
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