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Cash-less Nigeria is a policy established in the year 2012 by the Central Bank of Nigeria to curb excesses in the handling of cash in the Nigerian federation. It prescribed a cash handling charges on daily withdrawal above five hundred thousand Naira (N500,000.00) for individuals and three million Naira for corporate bodies (N3, 000,000.00).
Stanbic IBTC Bank has taken the Cashless Nigeria drive to new heights by discontinuing the sale of Personal Travel Allowance and Business Travel allowance in their branches. Customers are required ...
In a cashless society, financial transactions are not conducted with physical banknotes or coins, but instead with digital information ... Nigeria: 0 A common measure ...
The 2023 Nigerian currency crisis was precipitated by a shortage of cash currency (the naira) and an attempt by the Nigerian government to force citizens to use a newly created government-sponsored central bank digital currency.
Cashless payments are estimated to grow by 109% by 2025. But the study by PWC Research shows people aren't all in yet. 48% of the people surveyed said that in the next 5 years, they are most ...
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The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. [3] The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort ...
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