The Central Bank of Nigeria's (CBN)
cash-less policy has been extended to six states in Nigeria. It will commence
in the Federal Capital Territory (Abuja), Abia, Anambra, Kano, Ogun and Rivers
States from July 1, 2013.
The cash-less policy, is currently
operational in Lagos State, it aims at reducing the amount of physical cash
circulating in the economy, and encouraging more electronic-based transactions
(payments for goods, services, transfers, etc.).
The policy is expected to drive development and modernization of payment system within these States. Individuals and corporates will be encouraged to adopt electronic payment and banking options.
The policy is expected to drive development and modernization of payment system within these States. Individuals and corporates will be encouraged to adopt electronic payment and banking options.


















