In her response, Ahmad gave an overview of the cashless policy in Nigeria, stating that it was first introduced over 10 years ago in 2012 starting in Lagos State. In 2013 the policy was later extended to 6 additional states and the FCT. Since then, Nigerians have continued to embrace the cashless policy by using electronic channels for their transactions, whilst the Nigerian payments system and telecommunications infrastructure continued to develop.
The DG reiterated the various options open to Nigerians to perform financial transactions including mobile money, USSD, Internet banking, mobile apps, e naira, agents and mobile POS etc. All of these would ensure that Nigerians would seamlessly adapt to the cashless policy to enable financial inclusion and economic growth.
Source: Financial Digest (financialdigest.net)
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