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The Central Bank of Nigeria (CBN)? says it is conducting an assessment of?the ‘Cash-Less Lagos’ scheme, to determine when to introduce it in other states?of the federation.
The Director, Banking and Payments System Department of the CBN, Mr Dipo Fatokun, made the disclosure?in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos.
Fatokun said that the success of the?pilot scheme of the policy?would assist the apex bank to determine what to do in the next phase of the scheme.
He?said that an?assessment of the policy carried out recently,?had revealed that?the policy had recorded some success.
According to him, the success of the pilot scheme will also assist the regulator in?implementing?the policy?nationwide.
Fatokun?said that the CBN had identified some challenges facing the? policy, noting that?the recognition of the challenges would help in identifying future problems.
He expressed optimism on?the preparedness of the CBN to confront whatever “setback” that might arise in?the?implementation?of the policy in other states.
The director, however, did not disclose when the policy would start in other states but said that only the board and management of the CBN could determine that.
“Once we get it right in Lagos, we will get it right in other states.
“An assessment is being done to see how well we have performed in Lagos but the truth of the matter is that we are not doing badly. We are doing well.
“So, when the board and the management choose, we can decide where to go and when to go. ”
He?said that the CBN would soon introduce multi-functional Automated Teller Machines (ATMs),?having?features obtainable?in?ATMs currently in use.
Fatokun explained?that the new ATMs were?designed to accept deposits from customers and credit their accounts immediately after?transactions were?done on it.
“You will now be seeing multi-functional?ATMs that can take money from customers.
“The new ATMs are designed that instead of going to banking halls to deposit, you make use of it by filling your data and your account will be credited immediately,” he said.
The director said that the innovation would assist the cash-less policy and reduce man-hours wasted in attending to customers coming?to banks for deposits.
He said that another advantage of the facility?was that it would reduce long queues of?customers, trying to deposit cash?in banks. (NAN)
How do you take care of illitrate village dwellers who are famers? How would they be protected from custormers and banks.
Banks have put up demands/rules that are indicative of charges that swallow the profit of their defenceless blind custormers.Blind in the sence that they charge exusbitantly you will wonder if there is any law or control from CBN end.
I hope medium to small scale ( up to market women)business men and women will be protected.
Thanks