Allege that customers’ spending power has been affected

Traders in Lagos have sent an SOS to the Central Bank of Nigeria (CBN) to improve public awareness of the cash-less policy.

According to the traders, insufficient knowledge of the policy has affected customers’ cash flow and is threatening their businesses. Respondents, therefore, urged the CBN to either improve sensitisation on the policy or drop the idea.

The CBN introduced the cash-less policy in April last year with the objective of promoting use of electronic payment channels instead of cash for payment.

At the Oke Arin Market, in Lagos Island, some traders said their customers who buys good worth millions of naira have reduced their buying strength to enable them do business with the little cash they have at hand.

Michael Thomas, the Secretary General of the Ebute- Ero Market, warned that except “something urgent is done to begin proper awareness, the policy might not achieve it aims and will inflict more hardship on the citizens”.

Olajide Salau, the Secretary General of Alakoro Market, Olajide, appealed to CBN to intensify awareness beyond television and radio adverts by involving various market leaders, communities? leaders, and religions leaders in the country to spread the news of the cash-less policy.

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