We urge the Nigerian government to please reconsider the cashless policy embarked upon by the Central Bank of Nigeria (CBN) under the leadership of Mallam Sanusi Lamido Sanusi. The new Acting Governor of the CBN Dr Sarah Alade should please do this as a matter of urgency.
This policy is antagonistic to the welfare and interest of Nigerians. It seeks to further impoverish and defraud Nigerians. Why should Nigerians pay tax four consecutive times for their hard earned money? First, you pay to the government to earn your money. Secondly, you pay 3% to the banks for any deposit above 500, 000 naira. Thirdly, you pay another 3% when you want to withdraw the same money if it’s above 500,000 naira. And the fourth is you pay an extra for every cheque above 150,000 naira. This is preposterous and this must stop! To read more on this issue, see also, Professor Daddy Hezekiah (MFR) criticises CBN’s cashless policy. Click to read
