Ogun Advises Workers to go Cashless

Ogun state government has advised workers in its employ to embrace the new Central Bank of Nigeria (CBN) ‘cashless’ police because of capacity of reducing the risk of cash-related crimes, making transactions more convenient and enhancing access to banking services.

Mrs. Ajibola Chokor, permanent secretary, Ministry of Finance in the State, in Ogun state gave the advise at a one-day programme in Abeokuta, (the state capital) to sensitize workers on the policy expected to become fully operational in July.

Chokor stated that due to its inherent advantages, the state government had since August, 2012 introduced the policy for payment in some of its agencies including hospitals and tertiary institutions, thereby becoming a tremendous tool in tracking revenue.

“The programme which was introduced to all the state tertiary institutions,  hospitals, forest reserves etc has helped increase tax collection, greater financial inclusion, increased economic development and generally assisted in developing the educational sector and infrastructural development,” said Chokor.

She explained that the state government had since January 2013 also directed all its Ministries, Departments and Agencies to go cashless so as to reduce physical contact with cash, ensure monetary and price stability and ultimately help shore up its Internally Generated Revenue.

Mr. Eme Eleonu, CBN official in charge of the policy, Ogun state, said the ‘cashless’ policy would go a long way in enhancing the development and modernization of the country’s payment system in line with the country’s Vision 20-2020 aspiration.

He stated that the policy would also improve the effectiveness of monetary policy in managing inflation and driving economic growth as well as reduce security and safety risk.