Popular Nollywood actor Yul Edochie has made a public appeal to President Bola Ahmed Tinubu, urging him to reinstate the cashless policy previously implemented by the Central Bank of Nigeria (CBN).
In a recent Instagram post, Edochie highlighted several benefits of the policy, particularly emphasizing its potential impact on reducing kidnapping incidents across the country.
"To my leader, President Bola Ahmed Tinubu, GCFR Asiwaju Bola Ahmed Tinubu, I humbly suggest you bring back the cashless policy," Edochie wrote. "When it was introduced by the previous administration, it increased the value of the naira tremendously. It helped to bring down prices of goods and it made 5 naira, 10, 20 and 50 naira notes regain value."
Security Benefits Highlighted
The actor specifically pointed out the security advantages of limiting access to physical cash. "The cashless policy also helped to reduce kidnapping massively. Consider it again Sir. Thank you, Your Excellency," he added in his appeal.
Edochie's suggestion comes at a time when Nigeria continues to grapple with security challenges, including kidnapping for ransom, which has become a lucrative criminal enterprise in various parts of the country.
Mixed Public Reactions
The actor's appeal has generated diverse reactions from Nigerians online. While some support his position, others have expressed concerns about the potential hardships a cashless policy might impose on ordinary citizens.
One social media user with the handle @emykelz questioned the actor's stance, asking, "Do you know how many people suffered?" Another user, @ayamaster32, expressed satisfaction with the current system, stating, "No, we are good with the cash at hand policy, it is working for many of us."
However, some Nigerians voiced support for Edochie's suggestion. User @mayor_akins71 commented, "Man of the people, we believe you, Tinubu will fix Nigeria for sure," while @wearmufty simply stated, "Relax Jagaban will fix it."
The previous implementation of the cashless policy in Nigeria was aimed at reducing the amount of physical cash in circulation and encouraging more electronic-based transactions. Proponents argued it would help combat corruption, money laundering, and improve the efficiency of Nigeria's payment systems.
As of now, there has been no official response from the presidency regarding Edochie's suggestion.
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