New Monetary Policy: Nasarawa NYCN urges commercial banks to improve electronic banking services

New Monetary Policy: Nasarawa NYCN urges commercial banks to improve electronic banking services

New Monetary Policy: Nasarawa NYCN urges commercial banks to improve electronic banking services – #Monetary #Policy #Nasarawa #NYCN #urges #commercial #banks #improve #electronic #banking #services The National Youth Council of Nigeria (NYCN), Nasarawa state chapter, has called on commercial banks to improve their electronic banking service to ameliorate the hardships occasioned by the Central Bank of Nigeria (CBN) Cash Redesign Policy. The Nasarawa State Chairman of NYCN, Malam Jaafar Loko, made the call in a statement made available to the Saturday at the Keffi Local Government area of the state. NAN reports that the CBN had in October 2022 announced the redesign of N200, N500 and N1,000 notes with the old notes ceasing to be legal tender by January 31st, 2023, but since the implementation of the policy, Nigerians have faced difficulties obtaining the new notes. Loko said the council was deeply concerned about the inability of people in the state to access cash and especially the difficulties experienced in the use of electronic banking services in many instances which are supposed to be a viable option to the use of cash. He said the lack of adequate cash in circulation and the failure of the electronic banking services of commercial banks had no doubt caused severe discomfort among the people of the state and the country at large. “We, however, commend the resilience of our people who in spite of the difficulties experienced as a result of the implementation of this policy, have maintained decorum and refused to unleash anger through the destruction of public facilities like it has been experienced in many parts of the country,” he said. Loko who expressed support for efforts made by the Governor Abdullahi Sule of Nasarawa-led administration to ensure that commercial banks make cash available and improve electronics banking services, also called on the banks to do the needful to reduce the hardships faced by the public. “Furthermore, we appeal to young people and indeed the good people of Nasarawa State to remain patient while government takes measures to address all challenges associated with the implementation of its monetary policy. “Be assured that we are together in this and we will do everything within our power to ensure that government is proactive and lives up to its responsibility,” he said. WATCH NOW DOWNLOAD NOW Stay Connected with LikFlix.com – Follow for more updates, you will be notified soon. Thank You For Visiting

9. What are the benefits of the policy?

New Monetary Policy in Nasarawa NYCN

The Nasarawa State Urban and Community Development Network (NYCN) has announced a new monetary policy that seeks to improve electronic banking services in the state. This policy requires commercial banks to improve their electronic banking facilities and provide better services to their customers.

What is Included in the New Monetary Policy?

The new monetary policy includes specific measures that seek to improve electronic banking services in Nasarawa. Some of these measures include:

• Investment in new technology to improve the security and reliability of electronic banking services
• The introduction of new services to customers such as mobile payment solutions
• Improved customer support in order to better respond to customer inquiries
• Increased incentives for customers who use electronic banking services

Why is the New Monetary Policy Necessary?

The new monetary policy is necessary to ensure that customers in Nasarawa have access to safe and reliable electronic banking services. Banks need to keep up with rapidly changing technologies and customer needs, and the new policy is a way to ensure that they are doing so.

Frequently Asked Questions (FAQs) about the New Monetary Policy

What will be changed?

The new monetary policy seeks to improve the security and reliability of electronic banking services, introduce new services to customers, improve customer support, and increase incentives for customers who use electronic banking services.

What is the timeline of the policy?

The new policy will be implemented over the course of one year. Banks will seek to comply with the policy requirements as soon as possible within that time frame.

What are the benefits of the policy?

The new policy will benefit customers by providing them with access to more secure and reliable electronic banking services, more services such as mobile payments, improved customer support, and increased incentives for using electronic banking services.

Summary

The Nasarawa State Urban and Community Development Network (NYCN) has announced a new monetary policy to improve electronic banking services in the state. This policy seeks to increase the security and reliability of electronic banking services, introduce new services such as mobile payment solutions, improve customer support, and increase incentives for customers who use electronic banking services. The policy will be implemented over the course of one year, and will benefit customers by providing them with more secure, reliable, and convenient banking services.