The Central Bank of Nigeria (CBN) has carried its sensitization programme on cashless Nigeria policy to Federal University Otuoke.
The campaign which is a CBN initiative to encourage people to use other payment channels instead of cash will commence in Bayelsa State by May 1st, 2017.
Speaking to students of FUO, the general manager E-payment providers association of Nigeria, Ntia Nnene Sylvia noted that the campaign is targeted on youths who will carry the message back to their parents in the grassroots.
Sylvia posited that cashless Nigeria will reduce criminality, cost of cash printing and devaluation of the naira.
She enjoined the students to embrace the policy and begin to prepare their minds to use other modes of cash transaction like POS, internet, ATM and mobile phone.
The CBN representative, David Ekanem used the occasion to note that the policy does not completely eliminate cash circulation in Nigeria but rather cash flow will reduce as people use different modes for business transactions.
Urging students to take the sensitization very seriously, the HOD of Accounting Department, Faculty of Management Sciences, Dr. Ifeanyi Madumere described the policy as a welcome development. He however enjoined the CBN to ensure internet security to avoid cyber theft and also improve on network before total implementation.