By Abubakar Ojima Yunus, ABUJA
The Initiatives for Patriotic Nigerians, staged a peaceful protest in Abuja to declare their support for the Central Bank of Nigeria, CBN’s cashless policy and Naira redesign.
The group carried out their peaceful protest at the National Assembly’s gate in Abuja, bearing banners and cardboards with inscriptions: “Central Bank of Nigeria Cashless policy will Help Stabilise Exchange Rate,” “Cashless Policy will Promote Free and Fair Elections,” “Cashless Policy Best for Economic Growth.”
Addressing newsmen shortly after the group’s demonstration, Convener, Initiatives for Patriotic Nigerians, Abubakar Kurawa Esq, said the CBN’s cashless policy and Naira redesign will check insecurity and terrorism.
He added that the CBN will be more effective in managing the economy when the cashless policy is fully implemented.
Kurawa said, “On our part as Patriotic Nigerians we gather here today to lend our collective voices to this raging debate and to clearly state our position allying ourselves on the process with the stand of the CBN.
“It’s not in dispute that proliferation of liquid cash in the hands of many create more damage than good to the country, be it Economic, political or security wise.
“Let’s talk about security; there is no gain saying that criminals such as kidnappers, drug dealers, oil thief and the so many not mentioned, always makes use of cash to achieve their illicit goals.
“Given this fact, coupled with the present security challenges across the country, all hands must be on deck to ensure that necessary support is provided to curb the menace. In the case of CBN, the support it can give in this regard, is to curtail the money in circulation, hence this policy can’t be more timely.
“Also, this is an election period. Due to amendments of Electoral Acts which makes open manipulation of election results practically impossible, some politicians are likely planning to indulge in massive vote buying (we witnessed what happened in the recently concluded Ekiti and Osun gubernatorial election).
“To this end, CBN is playing its corporate social responsibility by making sure that huge cash withdrawals is made very difficult or impossible. By this, it helps in ensuring free and fair elections.
“As the center piece of Nigeria’s economy, the Central Bank of Nigeria will be more effective in managing the economy when this cashless policy is fully implemented. Inflation would be brought to its minimal while exchange rate will be firmly in control.
“The Cashless Policy has been in place only in principle in the past, but now, with the introduction of the new transactions limit by the Governor of Central Bank and his Team, the policy may be fully operational with its concomitant benefits to the nation
“We at the Initiatives for Patriotic Nigerians are fully behind Mr. Emiefele and his team for this giant stride as we invite all well meaning Nigerians to support the policy. Equally, we urge Mr. Emiefele and his dedicated team to remain resolute and committed to the full implementation of the policy for the benefit of all Nigerians.”
