The Chartered Institute of Bankers’ of Nigeria (CBN), Port Harcourt Branch, has concluded its Annual Bankers’ Dinner, at Banquet Hall of Hotel Presidential, Port Harcourt, Rivers State, on the 17th of October, 2012.
Presenting a paper on this year theme: “Cashless Banking in Nigeria: Prospects, Problems and Opportunities”, Prof. Chinedu B. Ezirim of the University of Port Harcourt, described the cashless economy as a “Paradox of the new millennium”.
The guest speaker, cited USA as a country that is operating 7% cashless economy and Sweden as another country that is successfully operating a cashless economy, pointing less population as one of the ideals that have placed Sweden on that pedestal.
Using Sweden as a case study, Prof. Ezirim was optimistic that cashless economy/banking would be realistic in Nigeria, despite its population, adding that there are several potentials and opportunities that abound in Nigeria, that are not in Sweden.
Chinedu however, used the medium to declare that the cashless economy/banking will take place nation wide on the 1st of January 2013, noting that the system would not provide a conducive atmosphere for the local financial collectors and contributors, popularly known as Akawo, Isusu, or Alajo People.
Prof. Ezirim drew the attention of bankers and Nigerians on the dangers of those he referred to as “Anti-Christ” that do things with those that have their mark or number. He further emphasized on the need for Government, Central Bank and Financial Institutions to collaborate in educating Nigerians on the cashless economy/banking as key to realization and success of the system.
Ezirim in the meantime, identified speed, accuracy and transparency as the advantages of cashless economy and enjoined Nigerians to embrace the system, as it has come to stay in Nigeria. Fielding questions from newsmen, the chairman, organizing committee of the event, Mr. Boniface C. Chukwuka, affirmed that proper education of the general populace will accelerate the success of the awaited cashless system and commended all that made the event a success, particularly the bankers, who according to him were supportive of the event and urged them to even do more subsequently.
It was indeed a night to be remembered by the guests, as the collaboration of Barr. Clem Osuji, the vice chairman, organizing committee and the duo of Akas-Baba and Igho Mayor of Wazobia FM, who mastered the ceremony, added glamour and laughter to the event. ###
By: Blaise Elumezie
