Inside Nigeria’s quest to go cashless

As Nigeria prepares for a future in which banks would no longer give citizens more than N20,000 cash per day and N100,000 per week, with most transactions being conducted through digital banking channels, BusinessDay looks back at how far it has come.

Although the Central Bank of Nigeria (CBN) introduced its first cashless policy in December 2011 and it kicked off in Lagos in January 2012, the CBN’s journey to cashless started in 2009 and is intertwined with financial inclusion.

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