Popular Nollywood actor and filmmaker, Yul Edochie, has called on President Bola Tinubu to bring back Nigeria’s cashless policy, saying it once played a key role in strengthening the naira and curbing crime.

Taking to his Instagram page on Thursday, Edochie shared his thoughts on how the cashless initiative introduced under the previous administration made a noticeable impact on the country’s economy and security.

“When it was introduced by the previous administration, it increased the value of the naira tremendously. It helped to bring down prices of goods. It made 5, 10, 20 and 50 naira notes regain value. The cashless policy also helped to reduce kidnapping massively,” he wrote.

 

The actor then made a direct appeal to the President:

“To my leader, President Bola Ahmed Tinubu, GCFR, I humbly suggest you bring back the cashless policy. Consider it again, Sir. Thank you, Your Excellency.”

Nigerians React

Yul’s post quickly attracted a wave of comments online. While some agreed with the points he raised, many others reminded him of the harsh realities that accompanied the implementation of the policy at the time.

For countless Nigerians, the cashless drive led to long queues at ATMs, scarcity of cash, and small businesses struggling to cope with electronic payments — deepening hardship across the country.

A Policy With Mixed Memories

The controversial cashless policy, rolled out aggressively in 2022-2023, sought to limit cash transactions and encourage more digital payments. While it arguably reduced cash available for crimes like ransom payments, it also sparked protests due to the chaotic rollout, poor banking infrastructure and inadequate public sensitization.

Yul Edochie’s appeal has reopened an important conversation. Should Nigeria revisit the cashless policy to stabilize the economy and fight crime — or focus on fixing its banking systems first to avoid repeating the past chaos?