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Nollywood actor Yul Edochie has once again sparked conversation online after publicly appealing to President Bola Ahmed Tinubu to reinstate Nigeria’s former cashless policy.
The actor made the call through a post shared on his official X (formerly Twitter) account, where he explained that the policy had significant security and economic benefits during its implementation.
According to the actor, the cashless directive played an important role in reducing kidnapping incidents across the country.
He noted that during the period when cash withdrawal limits were strictly enforced, criminals who relied heavily on physical cash for ransom payments faced major setbacks.
Yul suggested that restricting the circulation of cash weakened the operations of kidnappers and made it more difficult for such criminal activities to thrive.
In the same message, Yul Edochie also linked the policy to the temporary strengthening of the naira during the redesign period.
He argued that forcing more transactions into the banking system and limiting physical cash helped stabilise the currency in the exchange market.
While opinions differ on whether the cashless policy directly influenced the naira’s performance, Yul maintained that the policy created a level of financial discipline that the country could benefit from again.
His statement read: “Dear President Tinubu, bring back cashless policy. That policy crippled kidnapping massively and increased the value of the naira.”
Yul’s comment has since generated renewed discussion about the controversial period earlier in 2023, when the naira redesign and strict withdrawal limits led to widespread hardship nationwide.
Many Nigerians still recall the difficulty of accessing cash, long queues at ATMs, failed electronic transactions, and the struggles faced by small businesses and individuals who depended heavily on cash for daily operations.
Transport workers, market traders, and rural communities were among the most affected during that period, as electronic banking systems were not always reliable.
Despite the harsh experiences associated with the policy, some Nigerians have continued to argue that a gradual move towards a cashless society is necessary for long-term progress.
They point to benefits such as improved transparency in financial transactions, reduced corruption, increased digital adoption, and enhanced traceability of money flow.
Others believe the policy may reduce crimes tied to large cash movements, although there is no universal agreement on its overall impact.
With Yul Edochie’s latest call to action, the debate has resurfaced, prompting conversations about whether Nigeria is ready or willing to reattempt such a transition.
For many, the memory of the difficulties the policy created remains fresh, while others believe a well-structured and better-implemented version could help address ongoing insecurity and financial instability.
As of now, the Presidency has not issued any response to the actor’s appeal, and no official discussion about reintroducing the policy has been announced.
However, Yul’s comment has kept the issue in public discourse, highlighting the continued divide between those who see the cashless policy as a step toward modernization and those who associate it with nationwide hardship.
The conversation continues to trend online, with Yul once again positioned at the centre of a national discussion about governance, security, and Nigeria’s economic direction.
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