Cashless policy can be effective in Nigeria if implemented widely. The document proposes creating awareness of cashless policy's benefits, including reduced inflation and financial crime. Workshops would educate people, especially the rural and illiterate, on technology and basic finance to achieve widespread banking knowledge. This would help eradicate informal banking practices and educate nearly all Nigerians technologically within a year. With these solutions, the document argues that Nigeria's economy could achieve its Vision 2020 goals.

1. Solution.
As it is said, every problem has its solution irrespective of the extent, severity or
damage. Cashless policy can be effective in Nigeria; it all depends on the extent
to which it is pushed across.
How I can make cashless policy effective in my community is by:
Creating awareness on the importance and benefits of cashless policy and how
this has helped developed countries experience economic growth and
development. With cashless policy, the CBN is able to checkmate the surge of
inflation, becausewhenever there is a reduction in bulk cash transactions,
definitely inflation rate will subside. Also financial crime will be on the reduced
because money laundering will be expensive because of charges that apply
when making lodgments or withdrawals above the stated amount limits of five
hundred thousand naira and three million naira for individual and corporate
accounts respectively. Therefore, those who are in the ugly habit of carrying
huge amount of money around will now have to pay for their excesses,
especially Nigerian politicians who convert their cars into bullion vans and
bedrooms to strong rooms, and so on.
Also by organizing workshops in partnership with the central bank on
“technology, science and education”. These will be a medium to empower the
said fifty five percent which is oblivion to the use of technology and the
importance of science. This workshop will focus mainly on the aged and the
illiterates (both young and old) and will be focused mainly at the rural areas and
slumps. This will be done on a one year period, which at the end of the
workshop, it is expected that at least ninety nine percent of Nigerians will be
educated technologically. Also through the workshop, basic financial
procedures will be thought and the uses and importances of banks will not be
left out. This is meant to achieve a level of widespread knowledge of banking
operations across the nation and also to eradicate the forty five percent populace
that still practice the informal way of banking.
Hence, with my proposed solution to this crucial problem in the Nigerian
economic system. It is certain that the Nigerian economy will achieve its vision
2020 project by emerging as the best in Africa and among the top best five
countries in the world.