On Friday, the Arewa Consultative Forum (ACF) declared its support for the Central Bank of Nigeria's new cashless banking policy, which would be implemented in January 2023.
The organization asserts that once there is enough money and a lot of withdrawals, it will further draw thieves' attention, just as the victim is vulnerable to all types of assault.
This was said by Malam Murtala Aliyu, secretary-general of the ACF, in a statement on Friday.
He said that the current method is the most effective, efficient, and cost-saving one, in contrast to the past, when a sizable sum of money was required to print enormous sums of money.
He added that with the current cashless policy, it will be challenging for bandits and terrorists to obtain the enormous sums of money they seek from the victims' families.
The press release titled "CBN's Dangerous Plan" Let's be clear, it was a well-intentioned move on the part of the top bank to begin the long-awaited cashless payment regime in January 2023.
However, ACF stated that unless the CBN can significantly resolve these issues, “a preemptive move or a ‘frog-jump’ into a cashless payments system, however well-intentioned, will only land the country into a bottomless pit.”
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