- Promises secured, reliable, user-centric financial solutions
- Activist cautions against interference in DSS investigations of Emefiele
The Central Bank of Nigeria has said that the use of cash will naturally slow by 2025.
In its Payments Vision 2025 document, the CBN said by 2025, Nigeria aspires to have a cashless and efficient electronic payment system infrastructure that facilitates financial services in all the sectors of the economy.
It also noted that it intended to provide secured, reliable, and user-centric financial solutions in compliance with international standards.
According to the CBN document obtained from its website on Tuesday, the Nigerian payment landscape has many options that have displaced cash in recent times, including electronic bill payment, mobile phone top up, and mobile and instant payments.
“The use of cash will naturally slow with the ‘mobile first generation’, which will be economically active by 2025, hence one of the focuses of the PSV 2025 is enhancing the cashless policy of the CBN”, the document stated.
The CBN on October 26, 2022 announced that higher denominations of the naira- N200, N500 and N1, 000 notes would be redesigned and introduced into the economy from December 15, 2022 while commercial banks were directed to return existing denominations to the CBN.
The new naira became a legal tender on December 15, 2022, but millions of Nigerians are yet to physically see or transact business with the notes 18 days after.
In another development, the National Coordinator and Special Envoy of Ecology and Marine International Human Rights Organisation, Musa Saidu, has cautioned against inference in the ongoing investigations of alleged fraud by the CBN Governor, Godwin Emefiele.
Saidu told the News Agency of Nigeria on Tuesday in Abuja that the recent criticism against DSS investigations of N70 trillion alleged looted funds and hidden in banks by some eminent Nigerians was uncalled for.
“DSS is doing its job and as ordered by the President without partiality, so why should they be condemned by elites?,’’ he asked.
According to him, the CBN governor is like any other public officer entrusted with the public property as such he can be investigated, if the need arises.
Saidu said there were a series of allegations against Emefiele by some Nigerians which include alleged fraud and the reported diversion of revenue funds, diversion of agricultural loans as well as some fraudulent practices in Forex transactions.
“The DSS investigation on the CBN governor is lawful and should be cherished by any patriotic Nigerian not condemning the act,’’ he said.
Saidu said that it was unpatriotic for any Nigerian to launch a campaign against any security outfit that strives to establish law and order in the country particularly, the Department of State Security.
“We should see the ongoing investigation of Emefiele and others as a step towards ensuring justice, fairness and respect for the law and order in the country.
“We shall also see the DSS investigations into the alleged financial criminal offences as a giant stride of the Buhari administration,” he said.
The activist however, condemned the sponsored campaign against DSS in the social media by some so called Non- Governmental Organisations on the Emefiele investigation, saying, “That is a sabotage and subversive to the state affairs.
“As a Human Rights activist, I believe in the rule of law, as such, security organisations should arrest whoever is found wanting in government’’ he said.
Saidu pledged his organisation’s support to the security outfits to the fight against crimes in the country.
He vowed, “We are ready to unite with DSS, police, military and all security agencies towards maintaining law and order in Nigeria.’’ (NAN)
