Nigeria: Bank to go cashless

The Central Bank of Nigeria, CBN, plans to implement a cashless banking policy in June 2012. Bank representatives say the policy will enhance convenience and savings for Nigerians and the government, as well as elevate the economy to be more competitive internationally. But many Nigerians who have had negative experiences with ATMs say the country isn’t ready to go cashless, especially as the majority of the population doesn’t yet use banks.