The cashless policy of the Central Bank of Nigeria (CBN) is a major contribution to the decline in the spate of kidnapping in the country.
This was the submission of the bank’s Branch Controller in Enugu, Patrick Okonkwo, at the weekend during an awards night organised by the Enugu Bankers’ Committee.
NAN quotes him as saying that that the policy had made it impossible for people to raise the large ransoms demanded by kidnappers.
According to him, the policy had also shown that technology could be used to check unwholesome activities.
He said the current Bank Verification Number (BVN) was also aimed at further checking “the increasing incidents of compromise on conventional security systems”.