Cashless policy is a policy established in the year 2012 by Central Bank of Nigeria to curb excesses in the handling of cash in Nigeria. It prescribed a cash handling charges on daily withdrawals above five hundred thousand Naira (N500, 000) for individuals and three million Naira for corporate bodies (N3, 000,000). The policy was enforced not to eliminate the use of cash but to reduce the volume of cash in circulation In Nigeria.
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