Imo State to partner with CBN on ‘cashless policy’

Governor Okorocha in group pix with officials of the CBN at the Goernment House, Owerri

The Imo State government, Owelle Rochas Okorocha has expressed the willingness of his administration to partner with the Central Bank of Nigeria (CBN) on the “Cashless Policy”, introduced by the Apex Bank.

The State governor who made this known when the CBN delegates led by the Head Shared Services Mr. Chidi Umeano visited him at the Government House, Owerri recently, said that the policy would reduce crime, corruption and money laundering in the country.

Speaking during the occasion, Governor Okorocha noted that the policy will turn around the economy of the nation and as well make life easier for Nigerians and stressed the need for CBN to carry the populace along in the scheme.

He urged them to look into the handling of the State government accounts by the commercial banks for proper accountability as well as to embark on massive awareness to enable Nigerians understand the policy.

Governor Okorocha as he receives souvenir from the Mr chidi Umeano, Head shared services of CBN during their visit to Govt House, Owerri recently.

Earlier in a speech, Mr. Chidi Umeano said that the cash policy was introduced to discourage the high usage of cash across the economy, which has many negative consequences, such as high cost of cash, high risk of using cash, high subsidy and informal economy.

Mr. Chidi said the main objective of the policy is to meet up with vision 20-20 requirement, modernize Nigerians payment system, reduce the cost of banking services, improve effectiveness of monetary policy and as well as foster  transparency and curb corruption leakages in the society, adding that the policy will improve the IGR of the state.

He called on Nigerians to embrace the policy to enable the country move forward.

The Comptroller CBN Owerri branch, Mr. Aligwe Romanus Kalik commended the State governor for providing a conducive environment for banking sectors in the State through massive developmental projects and security.

He disclosed that the CBN Owerri branch is ranking number one among the 36^th branch of CBN in the country.

Present at the visit were the Secretary to the Imo State Goernment (SGI), Prof. Tony Anwuka and a host of others.