Tinubu not against CBN’s cashless policy

The APC Presidential Campaign Council (PCC) says the party’s presidential flag bearer, Sen. Bola Tinubu, is not in any way against the cashless policy of the Central Bank of Nigeria (CBN).

Mr Bayo Onanuga, Director, Media and Publicity of the PCC, while addressing newsmen on Thursday in Abuja said Tinubu was only concerned about the effects of the Naira swap and petroleum scarcity on the masses.

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He said while the APC presidential candidate was not against the cashless drive of the apex bank, the timing for its implementation was, however, wrong.

“Our candidate made this an issue and alerted government. That government should find a solution. I can report that as at today, Abuja does not have problem of fuel anymore.

” I learned that in Lagos fuel scarcity had also eased. I’m sure in other parts of the country fuel will soon be delivered to many stations and this crisis will be over.

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“For the currency swap, as the CBN calls it, our candidate is not against a cashless economy. He’s an Accountant. He understands how these things work. He knows the benefits to the economy,” Onanuga said.

Onanuga wondered how the CBN cashless policy was expected to work in a country where about 60 per cent of the population do not have bank accounts and relied heavily on cash to transact their daily businesses.

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He, however, added that the decision of the CBN to pursue cashless policy was based on faulty and erroneous statistics that could not be validated against reality. (NAN)