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CBN extends cashless policy to all states in 2014

22 November 2013, 14:13

Lagos - The cashless policy introduced in Lagos in January 2012 will be extended to the remaining states in the country before June 2014.

Tunde Lemo, Deputy Governor (Operations), Central Bank of Nigeria (CBN), disclosed this on Thursday at the 20th anniversary of the Nigeria Interbank Settlement System Plc (NIBSS), reports Thisday.

He said to ensure effective rollout in 2014, the bank is collaborating with other stakeholders in the payment system to integrate mobile phones into point of sale (PoS) machines.

He noted that more PoS machines will be available as the bank has granted licenses to another 21 mobile money operators.

Presently, the cashless policy operates in six states and Abuja.

Read more at ThisDay


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