CORONAVIRUS: AVOID USE OF CASH, IF YOU CAN, CBN WARNS NIGERIANS

The Central Bank of Nigeria (CBN) on Tuesday advised Nigerians to adopt alternative payment methods like electronic transfers to avoid the spread of Coronavirus. The CBN Director of Corporate Communications, Mr Isaac Okoroafor, gave the advice in a telephone interview with the News Agency of Nigeria (NAN) in Lagos.

He said one of the ways people could contact the disease was by touching a surface or object that had the virus and then touching one’s mouth, nose or possibly the eyes. “In times like this, it is advisable for Nigerians to adopt alternative payment methods such as electronic transfers, internet banking, USSD, etc, to avoid the disease – Covid-19.

“The Naira note is one surface that people touch every day. It will be wise for us to wash hands after handling money, especially if you are eating or touching food,” he said. Okoroafor said these alternative payment methods with the benefits, were well developed and worked well. He said: ”Its efficiency has minimised liquidity, settlement, systemic credit and operational risks which were inherent in financial transactions. “It is secured, reliable, accessible, prompt and cost effective to meet all users’ needs. Nigerians should use it.’’

The CBN director reiterated the need for Nigerians to handle the Naira with care and pride, describing it as a symbol of our identity and value. He warned Nigerians against stepping on, squeezing, defacing or staining the naira notes. Okoroafor also warned that it should not be sold or counterfeited

https://www.vanguardngr.com/2020/03/coronavirus-cbn-advises-nigerians-to-adopt-alternative-payment-methods/