PoS Cash Business: Emefiele Has Shown He Help In Upliftment Of The Poor – ACJHR

A civil society organisation, African Center for Justice and Human Rights( ACJHR), has described the Governor of Central Bank of Nigeria( CBN), Godwin Emefiele, as a man who has shown his heart is with the upliftment of the poor, with the Point of Service(PoS) cash exchange action.

Recall the CBN launched the Cash exchange Programme on January 23, 2023, as a means to reach out to the grassroots residers that have limited access to fiscal services, to enable them to bring in their old Naira notes before the January 31 deadline.

The CBN’s decision to launch the cash exchange programme comes amid the marketable banks ’ failure to make the new Naira notes available despite pitfalls of warrants.

The group in a statement by its strategic communication adviser , Comrade Abubakar Isa, said with this rearmost action, Emefiele can be supposed to be a financial policy ‘ god ’, who has shown that his heart is with the upliftment of the poor.

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Comrade Isa said the cash exchange programme was a master defensive strategy for the vulnerable and economically underprivileged Nigerians.

According to him, Emefiele and President Muhammadu Buhari earn praises for introducing the action for the unbankable population.

The statement reads, “ Emefiele can be supposed to be financial policy ‘ God ’. His recent programs are estimable and will leave a positive imprint in the country’s frugality in the long run. There has been complains in some diggings on the reach and sensitization of some people, particularly in the pastoral areas regarding the old naira exchange deadline, but the CBN is always ahead with great ideas and results and this POS cash exchange action is the answer.

“ The CBN when publicizing the cash exchange programme noted that the action was aimed at enabling citizens in pastoral areas or those with limited access to formal fiscal services to change old naira notes for the redesigned notes. To promote fiscal addition, the CBN said the service was also available to anybody without a bank account.

“ The CBN, in a ‘ constantly Asked Questions ’ document, also stated that before an interested party can be approved as an agent, some information like the existent’s name, BVN number, and driver’s name are needed before the new notes will be released. This action and others lately introduced by the bank would help put a stop to plutocrat laundering, vote buying, rescue taking, counterfeiting and so on.


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