Lawmaker Wants Nigerians Enlightened On Cashless Policy


A lawmaker with the Lagos State House of Assembly, Gbolahan Yishawu, has urged the Central Bank of Nigeria (CBN) to address some security aspects of the newly introduced cashless policy and enlighten Nigerians on it.

Yishawu stated this, while delivering a keynote address as the Special Guest of Honour at the CBN/Nigeria Computer Society (NCS) Forum on Cashless Policy Security Issues, held at the Educational Resources Centre, Babs Fafunwa Complex, Ojodu Grammar School, Lagos recently.

He noted that the introduction of cashless policy will not eliminate collection of money from the bank, but stressed that there were security issues that the CBN must address.

According to Yishawu, who saw no problem with the introduction of the policy, “there are several security issues at the user’s end and I believe they need a lot of education on how they must manage their card.

“How do they manage their 16-digit number in such a way that other people will not have access to it?

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“Take for instance, somebody wants to transact through the telephone and the other person is asking for the last three-digit numbers, should they give it out or not? People have to be educated on some of these things.

“Also, I believe there should be a kind of customer care line, which people can call in case of an emergency. For instance, if I am doing a transaction with a company online; I may not know the company’s location and in the process, I discovered it is a fraud, who can I call?

“The Central Bank of Nigeria has a lot to do at ensuring that people get succor in case there is any form of trouble. It is not as if the introduction of the cashless policy is bad, but people must be well enlightened to know the proper usage and most importantly, the security aspect of using it,” he added.

—Eromosele Ebhomele