Nigeria’s goal to become a cashless society could help curb corruption, according to the governor of Akwa Ibom State Godswill Akpabio.

Akpabio made the statement in Uyo upon receiving of the Central Bank of Nigeria (CBN), Chucks Iko, last week.

CBN has introduced a cashless policy in Nigeria that seeks to modernise the West African nation’s payment system in line with the country’s vision 2020 goal of being among the top 20 economies.

Key reasons for introducing a cashless system include reducing the cost of banking services, providing more efficient transaction options, managing inflation and driving economic growth.

But Akpabio has said the cashless policy could further deter corruption.

“Chief Akpabio said the use of cash was one of the challenges being faced in politics and hoped that one day money will be eliminated to reduce inducement,” said an Akwa Ibom State press statement.

“The governor noted that when the e-banking is fully implemented, it will enable politicians vote according to their conscience,” added the statement.