The Central Bank of Nigeria (CBN) regrets the inconveniences that the new cashless policy will cause Nigerians, but has no intetion to reverse itself, according to Mr Godwin Emefiele, the Governor of the country’s apex bank. Speaking at the end of the CBN’s Monetary Policy Committee (MPC) meeting in Abuja, Mr Emefiele said: “I sympathize and regret the inconveniences that the cashless policy will cause bank customers.”
Despite the apology, he insisted that the policy will progress as announced.
The CBN Governor allayed fears over the effect of the controversial judgement debt of $9.6 billion awarded to P&ID, saying that “by the grace of God, there is no threat to the reserves…..and we have received presidential approval that those indicted should be prosecuted.”
At the end of the meeting, the MPC retained interest rates at 13.5% as well as other parameters.
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