Nollywood star Yul Edochie has appealed to President Bola Ahmed Tinubu to reintroduce the cashless policy formerly implemented by the Central Bank of Nigeria (CBN), arguing that it could help stabilize the economy and reduce kidnapping cases.
In a recent Instagram post, Edochie credited the policy with previously strengthening the naira and lowering commodity prices. He also emphasized that restricting large cash transactions made it harder for kidnappers to collect ransoms, leading to a drop in abductions.
“Under the last administration, this policy significantly boosted the naira’s value and restored the purchasing power of lower denominations like ₦5, ₦10, and ₦50 notes,” Edochie stated. “It also played a key role in reducing kidnappings.”
Directly addressing the president, he added, “I urge you to reconsider this policy, Sir. Thank you, Your Excellency.”
Edochie’s suggestion has sparked mixed reactions online, with Nigerians weighing the pros and cons of reinstating the cashless system amid current economic challenges.
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