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Fred Ezeh, Abuja
National Association of Nigerian Students (NANS) has joined the long list of Nigerian stakeholders that have condemned the new cashless policy championed by the Central Bank of Nigeria (CBN).
It described the policy as “insensitive and anti-people” policy designed to inflict more pain and hardship on Nigerians. It thus urged the CBN to suspend the policy within 72 hours or face unfriendly mass action from Nigerian students.
NANS President, Danielson Akpan, in a letter dated September 23, 2019, and addressed to CBN Governor, Godwin Emefiele, said the new policy has heightened concerns and palpable fears amongst Nigerians as it affects charges on deposits and withdrawals above N500,000 and N3 million on individual and corporate accounts respectively.
He said he was disappointed with CBN for not realising the unbearable economic condition of Nigerians and consistent collapse of businesses due to unhealthy attitude of financial institutions.
He warned that attempts to forceful implement the new policy may spell doom for the economic survival of Nigerians and sustenance of their businesses.
The NANS President informed the CBN boss through the letter that the policy was seen by Nigerian students as a dishonest attempt aimed at “criminally” deducting customers’ savings in favour of government just as Value Added Tax (VAT) was mindlessly increased amidst obvious growing poverty amongst the people.
He added: “the policy will, undoubtedly, discourage the growing culture of savings of cash in the bank, in addition to endangering the lives of poor Nigerians as robbery in homes and communities would escalate due to customers’ decision to keep money at home to avoid paying the huge commission and charges on deposits and withdrawals.”
The NANS President however confirmed that Nigerians students are putting finishing touches on plans to shut down CBN headquarters in Abuja and other offices nationwide at the end of the ultimatum if the policy is not reversed.
“They failed to heed the advice of the House of Representatives on the suspension of the cashless policy, but Nigerian students would not accept that. We shall, in next 72 hours commence unfriendly mass action against CBN it fails to respect the wishes of Nigerians who have vehemently rejected the extorting policy,” he said.
