By Christy Aboghe
The lyase of Obodogba Okpanam, Chief Dr. Sylvanus Ebigwei has described the cash less policy as a way of curtailing fraud, banditry, payment of ransom to kidnappers and other frivolous acts.
Ebigwei made this known while speaking with our reporter in Okpanam, Delta State.
He said the decision of Central Bank of Nigeria and the government in redesigning the naira notes, was a good idea, as it would help flush out many of the currencies that have defaced as a result of poor handling of the naira notes.
“I am not in support of the old naira notes, as the introduction of the new naira notes will help flush out fake currency in circulation” he said.
He said the only challenge with it, was the implementation of such policies, as it was badly handled.
He said though the government have reversed their stand on the cashless policy, the redesigning of the naira notes and the exchange of currencies, but then it is a very good idea.
According to him, no country allows the existence of currency for 20 years, adding that the Central Bank of England earlier redesigned the British pounds from the old currency to a new one and the whole world took after, without rancour.
He said it would help Nigerians to progress, in terms of stabilisation of the naira notes, foreign exchange and removing every surplus cash from the general public and residing the same in the various banks in Nigeria, adding that about one third of the printed naira notes were deposited in the bank, while the rest are in people’s custody.
Ebigwei said the policy was meant to reduce vote buying, but instead, the masses are the ones suffering it, as the whole exercise which was to address many negativism, was scuffled.
He said it was unfortunate that some persons in the society deposits in holes, stores, gutters, buried in the farms, septic tanks, which in most cases gets destroyed by molds, water or burnt.
He said such acts can only be found in a primitive society where they lack trust of the banks and those who make money in dubious way
Reacting to the demand for continuous use of the old naira notes, the Iyase said those supporting the drive were doing so for their own selfish reasons and negative politics as there was no need to use money to buy people’s vote conscience if they were actually going to serve the masses as they claim, there was no need paying to serve them.
