BY PROVIDENCE OBUH

With its mobile solutions that support cashless payments and transactions for the benefit of Nigerians, Etisalat Nigeria has restated its support for the Federal Government’s cashless policy.

Etisalat, in partnership with the Central Bank of Nigeria (CBN), Nigerian Communication Commission (NCC), Federal Ministry of Communication Technology, Lagos State Government and the Federal Ministry of Justice and other stakeholders, held a two-day conference titled: “Transiting to a Cashless Society: Possibilities & Challenges.” It was organised by De Novo, a strategy consulting firm.

Director, Business Segments Etisalat Nigeria, Mr. Lucas Dada, said that the company is compliant to the regulatory policy of the CBN.

According to Dada, “We are poised to aiding the successful transition of Nigeria to a cashless economy, which is in line with the realisation of the Federal Government’s Agenda to become one of the top 20 economies by the year 2020. From an innovative point of view, we have developed products that are reliable, safe and secure to support the cashless policy and one of such is the popular Etisalat Easywallet.”

Earlier, Lagos state Governor, Babatunde Fashola said that the state is at the forefront of transiting to a cashless society and has already started playing participatory and supportive roles in the transition.

Fashola, who was represented by the Accountant-General of the State, Mr. David Sunmoni, said, “In Lagos state, our laws have started evolving to cover electronic transactions and offer protection against electronic frauds, while empowering security agents to investigate and prosecute online frauds in a bid to ensure safety of online transactions in the state. We have also done a lot to increase citizens’ information and computer technology literacy. This is why we are introducing e-learning centers in all our institutions and the establishment of a digital village in Ikeja, designed to foster computer literacy among residents in Lagos.”

Deputy Governor, Operations, Central Bank of Nigeria, Mr. Tunde Lemo, noted that the time was right for Nigeria to transit into a fully cashless economy after a successful one year test-run in Lagos state.

Lemo noted that the cashless economy policy was designed to promote financial intermediation, enhance financial inclusion, minimize revenue leakages and increase the internally generated revenue and reduce the incidences of robbery.

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