The new CBN strategy does not conform with the Less developed countries, like ours.
The cashless policy is good and has been working for developed countries of the world...

However, more people especially those without bank account mostly the small & Medium scale businesses found nationwide, will be forced to open account like: #individual_account(savings) and #corporate_account.

In this case, the #demand for #Android_phones used for internet transfer and the use of #POS for business will also increase, thereby automatically reducing #Liquid_cash flow, in circulation..

Also the demand for business registration, via, #CAC, will also increase..Reason for that is that, a cash deposit of 3M is required for corporate account, unlike 500k for individual accounts.In this case, Business folks, would definitely consider the corporate account...

In our just concluded conference, Nigerian Economic Society, NES, I heard the CBN governor, clearly emphasizing that, the banking industry must be "thinking outside the box".What he, Godwin Emefiele called the #unconventional_approach.
From my own perspective or rather, intuition, I think that is the new cashless policy that has been adopted...

The Question now is, is the cashless policy adopted to curb arm robbery attacks by the reduction of #liquid_cash in circulation or help checkmate inflation?

Even if it does, 3% charges is very much..
The strategy is good, but there are certain parameters the CBN would have considered; the #chain_distribution of goods and services in a long run.
Those involved in a chain of distribution will find a loophole to hike the prices of goods and services, blaming the increase to the new cashless policy.The final consumers will have no choice than to bear the burden of the price increased.
I think in this scenario, the minimum wage, which has been approved by law, should be implemented come 2020, since the CBN cashless policy will kick start fully come March 2020.
That is my own honest assessment of the New Cashless Policy.

Cashless when someone will move around about 8 ATM before getting one functioning one