New Cash Policy Won’t Affect PoS Operators, CBN Assures

The Central Bank of Nigeria (CBN) has stated that the recently introduced cash withdrawal policy will not affect operators of Point on Sales (POS).

Deputy governor, financial systems stability, Central Bank of Nigeria (CBN), Aishah Ahmad, made this known while fielding questions from lawmakers at the House of Representatives during plenary on Thursday.

She said the policy followed critical thinking, research and other considerations.

According to her, in coming up with the policy, the CBN also took into cognisance the 44 million Nigerians for whom the POS operation was a means of livelihood.

She said the policy was expected to create new jobs in the ICT sector and not lead to job loss as was being speculated.

While responding to a question by Rep. Chinedu Obidigwe (APGA-Anambra) who wanted to know if the policy was aimed at favouring the ruling All Progressives Congress(APC) in 2023 general election, Ahmad explained that the policy, contrary to insinuations, was not based on politics.

Speaker, Femi Gbajabiamila, said the reason the house should be briefed on such policies was because the lawmakers represent the people.