Global economy 2023: Why central banks face an epic battle against inflation amid political obstacles
The ConversationJUL 2023
This national domestic card scheme will integrate Nigeria's informal economy with more formal financial services, benefitting long-neglected Nigerians who need daily micro-payment needs. It will also advance the Central Bank's cashless policy, which has already helped the country's national banking and payment ecosystem by generating competition and attracting investments.
The Central Bank's latest push for a cashless economy, including AfriGo and the phasing out of old naira notes, hides a covert agenda to obstruct Nigeria's electoral process as the scarcity of new notes has dragged the country into chaos, with Gov. Emefiele once again evading the parliament's invitation to discuss this policy.