The House of Representatives in Abuja on Thursday urged the Central Bank of Nigeria (CBN) to implement the cashless policy in phases.
It also urged the apex bank to remove the charges or limits on daily cumulative withdrawals and deposits to encourage small businesses.
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The House further called on the CBN and commercial banks to take the security of customers’ transactions seriously. This resolution is sequel to the adoption of a motion moved by Yakubu Dogara (PDP-Bauchi) and 38 other members.
Leading the debate, Dogara said the policy could save costs in the financial sector but did not imply real sector growth.
