The Central Bank of Nigeria (CBN) has said that Lagos and the six other states control about 90 per cent of cash transactions in the country. The other states are Rivers, Anambra, Abia, Kano, Ogun and the Federal Capital Territory (FCT).

The CBN Deputy Governor, Operations, Tunde Lemo, who disclosed this, said this was the reason why the above mentioned states were been slated for the second phase of the cash-less project billed to kick off on July 1.

Acknowledging that there have been and there are still challenges with the cashless project, Lemo however assured that most of them are being resolved.

He listed one of the major challenges to include interconnectivity in some of the clusters, which he said is being addressed.

Lemo said that besides the use of alternative channels of transactions such as Point of Sales (PoS), the cashless project would be driven through the telephone.

Nigeria is second in number of mobile phone users in sub Saharan Africa after South Africa, which is also the largest economy in the region.

http://nationalmirroronline.net/new/seven-states-control-90-per-cent-of-cash-transactions/

lekanolas: The Central Bank of Nigeria (CBN) has said that Lagos and the six other states control about 90 per cent of cash transactions in the country. The other states are Rivers, Anambra, Abia, Kano, Ogun and the Federal Capital Territory (FCT).

The CBN Deputy Governor, Operations, Tunde Lemo, who disclosed this, said this was the reason why the above mentioned states were been slated for the second phase of the cash-less project billed to kick off on July 1.

Acknowledging that there have been and there are still challenges with the cashless project, Lemo however assured that most of them are being resolved.

He listed one of the major challenges to include interconnectivity in some of the clusters, which he said is being addressed.

Lemo said that besides the use of alternative channels of transactions such as Point of Sales (PoS), the cashless project would be driven through the telephone.

Nigeria is second in number of mobile phone users in sub Saharan Africa after South Africa, which is also the largest economy in the region.

http://nationalmirroronline.net/new/seven-states-control-90-per-cent-of-cash-transactions/

hmm, if you do a very good socio-political analysis of this statistic,you will realize the most industrious and commercial zone gets the lowest allocations and Vice versa. Not surprised about this information at all,I must say.