The member representing the Abakaliki/Izzi Federal Constituency of Ebonyi State, Chief Emmanuel Uguru, has accused the Central Bank of Nigeria, (CBN) of sabotaging the Federal Government, through the introduction of e-payment and other cashless policies in the banking system.
Chief Uguru gave the indication in Abakaliki, the Ebonyi State capital while exchanging views with newsmen, shortly after he was conferred with the chieftaincy title, by the Izhi Nnodo Clan.
He observed that the e-payment system was a welcome initiative, but condemned the cashless policies of the apex bank with the commercial banks.
The lawmaker said he has prepared a bill to present to the National Assembly next week, to ask the Central Bank of Nigeria, CBN, to immediately relax its cashless policies and restore healthy monetary policies in its transaction with the commercial banks in the country.
His words: “I have a bill that is coming up soon. Just go to any bank today, you see, nobody gives cash. I thought this is only happening in the Southeast, but hen I went to Abuja, I put in a cheque for N400,000, and the banker said he would only give me N10,000. But when you go to POS people, you see them with mints, and you buy from them.”
“I would have presented the bill last week, but it’s coming up next week. My question is, who is causing this cashless problem?”
Chief Uguru called for urgent intervention by the Federal Government, to address the enormous challenges in Nigeria’s banking system.
According to him, “President Bola Tinubu has done a lot to improve the lives of Nigerians, but people misconstrue a lot. Like I mentioned earlier, Nigerians have to be patient with the President.”
Continuing, he said, “there is no money in commercial banks, and now we realise that it is not the fault of the commercial banks because, the Central Bank gives two hundred thousand naira to a commercial bank and the CBN will be coming to monitor them, yet the same CBN sells to the POS people mints as much they want. If the POS person wants hundred million naira, he will get it from the CBN mints. I personally bought the mints as well. I didn’t buy because I needed the mints. I only used them as proof so that no one would say it is not true.
How do the banks expect people to make e-payments to your mother in the village when you want to buy pepper and other items for her? Much as we agreed that e-payment reduces theft and other crimes, there’s no way somebody will come to your farm to harvest rice, and you begin to tell that person of transfer. Does he know what is POS?”
So, from my findings, the efforts of Mr President to improve the livelihoods of Nigeria have been grossly sabotaged.”
Olusola Akintonde
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