The President, Major General Muhammadu Buhari (retd.), has reiterated the need for a cashless economy in Nigeria.
According to The Nation, Buhari said this in Lagos, on Tuesday, at the luncheon and official unveiling of the National Institute of Credit Administration Act.
He stated that a cashless economy remains one of the enduring legacies any country can have.
He also maintained that no economy can expand without the use of credit, and no advanced society can be used as an example where credit is not used.
“It is however imperative to state that credit at any level or sector, if not properly managed could spell doom for an economy. This is why the Federal Government took deliberate steps towards ensuring an enduring credit system within our economy to be managed by reputable professionals,” he stressed.