NAN-H-66
Suspension
By Chinyere Bassey
Lagos, April 24, 2017 (NAN) Labour leaders in the financial sector on Monday commended the Central Bank of Nigeria (CBN’s) suspension of nationwide implementation of cashless policy.
The nationwide implementation started this April.
The labour leaders spoke to the News Agency of Nigeria (NAN) in interviews in Lagos.
The leaders are from the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE).
NAN reports that the CBN announced the suspension in a circular it issued on April 20.
The circular, which instructed banks to revert to old charges and refund customers who had been debited, did not give any reason for the decision.
ASSBIFI President, Mrs Oyinkansola Olasanoye, described the decision as laudable.
According to her, unnecessary charges by banks are scaring customers away.
She hoped that the suspension would motivate bank customers to increase patronage.
“Customers should be motivated to save more money. Some people do not know what deductions are for because they are of different kinds.
“Banks should be made to charge reasonable percentages to keep customers,’’ she said.
The ASSBIFI president advised banks to return amounts of money they had been debiting from customers accounts to boost people’s confidence.
The General Secretary of NUBIFIE, Mr Muhammed Sheikh, told NAN that the decision would eliminate some challenges faced by bank customers.
Sheikh said that cashless policy was necessary but required necessary infrastructure to drive it.
The NUBIFIE scribe said that the union would support policies that would enhance service delivery to customers.
(NAN)
CHIN/FF/IGO
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(Edited by Fela Fashoro/Ijeoma Popoola)