Emir of Kano Advises CBN to Review Cashless Policy Implementation

The Emir of Kano, Alhaji Aminu Ado Bayero, yesterday advised the Central Bank of Nigeria (CBN) and commercial banks not to be in a haste in implementing the cashless policy.

He stressed the need for a step-by-step implementation of the policy so as to carry bank customers along and also enable them familiarise with the policy.

Bayero said although the policy was good and would bring about positive development to the country, it had plunged people into suffering because it was introduced without giving bank customers enough time.

The traditional ruler said this yesterday, when a team of the Bankers’ Committee paid a courtesy visit to his palace.

According to the Emir, instead of rushing the policy, the banks should embark on public enlightenment and awareness about the positive changes bank customers stood to get if they embrace the policy. He also advised them to get feedback from people as it would help them to succeed in the policy.

“People have suffered so much as a result of this policy. This is because people were rushed into it. So now that you are here, we advise that you should look into the challenges people are facing and consider reviewing the implementation process.

Take it easy and steady for people. You cannot do this in a haste, people need time to accept and get acquainted with the policy.

“Every good change is like this, people hardly accept it at once. You should also consider people in the rural areas because they suffered the most during this hard time.”

He advised that the e-Banking system should be improved as it also contributed to the challenges people were facing, adding that, “You should liaise with the phone and SIM companies to ensure that the process is made easier for people.”

Speaking earlier, a Deputy Director of the CBN, who was also the team leader, Muhammed Hamisu Musa said the essence of the visit was to seek for the blessings of the Emir and also to urge him to enlighten the public to embrace cashless policy because it has come to stay.

The Deputy Director added: “We know that culture change is not easy, that is why we are trying to take it gradually on people so that they will accept the policy. We are trying to bring out the benefit of the policy at least it will motivate them to accept the policy.”