Everyday we're inundated with cries of going 'cashless' by CBN yet they want to introduce N5,000 note. Recently they stopped the banks from charging N100 for ATM users on banks ATM other than their domiciled bank's own all in the name of cashless Nigeria. Some banks also increased withdrawal limits.

My understanding of going 'Cashless' means strictly using your cards for all transactions - grocery purchase, taxi fares, mobile phone airtime recharge amongst other uses. What I don't understand is how the removal of the N100 charges would encourage going 'Cashless' when cash is still being withdrawn from the ATM. What one would have thought these peeps would do is incorporate payments for services on ATM (if POS devices are not feasible) where you can make payment and get issued a receipt to present to merchant (Quickteller does this currently).

My point is are we going 'Cashless' to save the banks operational cost of attending to customers in the banking halls or protecting the customers from the vices associated with carrying huge amount of cash around? Your thoughts please!

No condition is permanent.
Education is the key.
Nigeria is going to be a cash-based society for the 'lower' class ALWAYS!
The cashless Nigeria only applies to the 'literate'. . . less than 30%.
Minus the literate-daft. . .15%
Have no fear. Ghana Must Go Bags is the only bank for corrupt countries like Nigeria!