It was a cocktail of mixed reactions yesterday when the new cashless policy of the Central Bank of Nigeria, CBN took off in Anambra state as part of the pilot locations in the country yesterday.
The new policy was greeted with widespread admix of negative and positive reactions as it took many by surprise and unawares, especially traders and workers.
Our investigations round the streets of various business districts in the state like Awka, Onitsha, Nkpor, Obosi, Nnewi, Ihiala, Uli and Ekwulobia, yesterday, Mr Okechukwu Okafor an electronics dealer said that the entire idea of the cashless policy is going to make trading activities difficult in the country. He accused the proponents of “specifically targeting Ndigbo who needed raw cash to carry out their daily and regular enterprises”
He said he was furious when certain percentage was removed from the little cheque he cashed in a bank in Awka early morning yesterday. That it was even worse for him because it was the little profit element in the transaction he carried out that was deducted as bank charges for his contravening the new policy.
Joel Nsofor, a civil servant welcomed the development. He however called for proper sensitization and education of citizens, particularly the various bank customers to avoid situation where they feel cheated. More so, that by the time the policy sinks properly armed robbery incidences would be greatly reduced.
Investigation revealed from the various banks branches in the major cities of Anambra state that series of trainings had been carried out earlier in readiness for the pilot take-off of the new policy in the state, as directed by the Central Bank of Nigeria (CBN).
Apart from preparing their staff for the commencement of the new cash policy, some of the banks in Awka, Nnewi, Onitsha, Ogidi, Nkpor, Nnobi, Ekwulobia, Ihiala, Uga, Oko and Umunze, including the UBA Plc, First Bank Plc, Eco Bank Plc, Access Bank Plc and the GTB Plc told our reporter that they have set up a special desk to assist educate and explain the intricacies of the new policy to customers.
One of the branch managers in UBA Plc in Awka who pleaded that his name be protected disclosed that in recent time the bank have been having training on the policy for its staff. “We are very prepared, as we had earlier had a pilot run of the scheme in our select branches and all the observed teething problems were corrected. Most of our key customers especially those who deal in high volume of cash withdrawals/lodgements and transactions had been contacted and specially briefed.
According to him, more Point of Sales (POS) machines have given to more customers in the last one year. He said that for one to qualify to be provided with one or more was only a matter of formal application. That it costs only about 1% of its services.
Individual customers, would be allowed to withdraw or deposit N500, 000 cumulatively daily, while corporate customers would be allowed to withdraw or deposit N3million daily. However any excess withdrawal or deposit above the allowable limit would attract 3% surcharge for individual customers while corporate customers would pay 5%. Or, every other form of transaction would be through one form of the numerous money transfer methods currently being marketed by banks nationwide
The bank manager sympathized with those who have no bank account and hence urged everyone to open an account immediately. The policy would also reduce incidences of fraud, stealing and cash robberies.
