Cashless Policy, the Key to Development

The Central Bank of Nigeria’s cashless policy is paramount to the country’s economic development and the electronic payment technologies which drive the cashless policy must be made available to all Nigerians said Chief Executive Officer of Verve International, Charles Ifedi.
According to him, the habitual cash-based payment system posed problems for individuals and businesses alike, and the Information and Communication Technology industry across Nigeria has been working to alleviate the difficulties of cash and move towards an electronic payment market. It is therefore essential that all in Nigeria have access to modern payment technologies if the benefits of fast economic growth are to be felt by the many and not just the few.
 Verve as the market leader, has worked hard to ensure that the full benefits of the cashless policy are felt by all and prior to the emergence of electronic payments in Nigeria, transactions were carried out primarily through cash, posing significant financial problems to businesses and individuals, something which Verve has helped to alleviate, allowing Nigerians to pay their bills, transfer funds and pay for goods and services at any time, through any channel, he said.