Financial repression, as argued by McKinnon and Shaw (1973) is the existence about interest rates ceilings, high reserve ratios, regularly lending, restriction to entry and exiting in an banking activities, restriction of foreign currency transactions, and directed ceilings in an economical. In summary, it is when the public imposes control over financial industrial activities causing decrease in savings, discourage investment, lack of investment in an economy will lead to a retarded economic growth. This report looked at the impacts made by the cashless policy on one financial liberalization of Nigerian economy. It was noted that since obtainable information, the basic of cashless transaction has greatly impacted on an financial liberalization of the Nigerian economy. This writer aligned with the view of Mckinnon-Shaw 1973 in this explorative overview and concluded that the components policies necessary for the effective application of cashless trade society be yet to be fully deployed. The government needs to follow strictly of initiative both reduction regulatory restricted included aforementioned operation of a cashless society to attract private operator for order to have loose product interplay necessary for adequate finance liberation and economic increase.