With the nation-wide implementation of cashless policy introduced by the Central Bank of Nigeria (CBN) on July 1, 2014, the E-Payment Providers Association of Nigeria (E-PPAN) has intensified its Grassroots Mobilization to ensure the initiative meets the targets.
Mrs. Onajite Regha, executive secretary and chief executive officer of E-PPAN, said that the nationwide implementation amongst others will spur development and modernization of the payment system in line with vision 2020.
According to her, the measure will lead to reduction in the cost of banking services and drive financial inclusion as well as improve the effectiveness of monetary policy in managing inflation and driving the economic growth.
Ntia Nnene Sylvia, media and strategy development manager at E-PPAN, in a statement said that the grassroots mobilization, this time, took E-PPAN to Enugu, Cross River and Edo States.
Meanwhile, E-PPAN believes that, “Besides, there is the need for the country’s monetary system to fall in line with standard practices obtained across the world which the cashless policy exemplifies.
With all these in mind, the E-PPAN whose overarching goal is to enhance institutional frameworks and processes for a robust and effective e-payment system in Nigeria aligned its strategies with the objectives of the CBN to mobilize and sensitize the grassroots on the cashless initiative, Regha said.
“This was to get the total support and full commitment of the people at the bottom of the pyramid in order to actualize the laid down objectives of the apex bank in its Cashless initiative drive.
“The last wave of the sensitization exercise which saw E-PPAN touring through the cities, towns, villages, and communities in Cross River, Edo and Enugu state, gave the team the opportunity to experience firsthand the challenges of not being included in the financial mainstream and the opportunities that lie fallow in converting these challenges to solutions that can revolutionarize the payment industry, particularly with the advent of mobile payment which came as an exciting channel for everyone the team came across.
Giving accounts on the outing the E-PPAN CEO said, the grassroots sensitization in Enugu state commenced with a visit to all the major media outfits.
“This was to create awareness and also enlighten the listeners and viewers alike on the cash policy and the activities of the sensitization team in the state.
“After the media sessions the team then moved into the markets for proper sensitization of the grassroots in Enugu state. The first point of call for the team was the Night Mile Market,” she said.
In Cross River State, Regha, said that the people awoke to the news of the cashless initiative as they watched the live interview on their popular breakfast morning show.
The team which was made up of the Branch Controller Central Bank of Nigeria Cross River State and the E-PPAN representative spoke extensively on the benefits of the cashless initiative to the people of cross River state.
After the discussion, the viewers called to ask numerous questions on the implication of the cashless initiative to the ordinary man and its benefits as well as disadvantage if any.
The team also visited Edo State. The sensitization in Edo took off at the Edaiken Market at Uselu in Egor Local Government Area.
With the presence of the market women leader, the enlightenment kicked off at the car park within the market which lasted for about two hours.
The team then moved on to Uwelu Auto Spare Parts Market and Mechanic village. In attendance was the Chairman, executives and members of the traders union.
It was observed that apart from hearing of the term cashless Nigeria on radio adverts, they had no clue as to what the policy means, how it applied to them and its benefits.
After the sensitization session, the people were excited by the electronic payments options available as an alternative.
“At the popular Lagos Street Market which is at the city centre, the team met with the community Head, Chief Osula (the Arala of Benin kingdom) who listened to our purpose of coming. He addressed the teaming youth, the market executives and all who gathered at the meeting ground imploring them to pay attention to the good news that the team brought.
“Being the Community market day at Aduwawa, the team went there and kicked off the exercise with a visit to the Odionwere (Eldest man of the community) Chief David Osemunekha.
“The Aduduwa people who came out in mass were entertained by our professional dancers prior to to delivering the cashless message to the traders.
Interestingly, the team carried out live demo on the use of the PoS and Mobile Payment.