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CBN's New Policy On Cash Deposits: Nigerians React - Business (2) - Nairaland

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Re: CBN's New Policy On Cash Deposits: Nigerians React by jieta: 3:17pm On Sep 18, 2019
h
Re: CBN's New Policy On Cash Deposits: Nigerians React by flowx(m): 3:17pm On Sep 18, 2019
The policy is not new in anyway.
It has been like that since GEJ administration.

So I don't know the meaning of all this cemical reation.

1 Like 1 Share

Re: CBN's New Policy On Cash Deposits: Nigerians React by Bbbwings: 3:17pm On Sep 18, 2019
M
Re: CBN's New Policy On Cash Deposits: Nigerians React by yesloaded: 3:17pm On Sep 18, 2019
Re: CBN's New Policy On Cash Deposits: Nigerians React by seunmohmoh(f): 3:17pm On Sep 18, 2019
izzou:
grin
While CBN is charging you 2% for deposits over 500k, FIRS is warming up to charge you for internet transactions

VAT is warming up to be 7.2%

Minimum wage still no enter 100$

Issokay grin

By 2023, all of us will be alllllllrrrriiiiggghhhhhttt


Haq Haq Haq
By then I would be applying for my citizenship abroad. Shikina
Re: CBN's New Policy On Cash Deposits: Nigerians React by Pennah(m): 3:17pm On Sep 18, 2019
its like i will go back to the traditional way of saving money



yahoo yahoo every where including CBN

1 Like 1 Share

Re: CBN's New Policy On Cash Deposits: Nigerians React by Vikynas: 3:17pm On Sep 18, 2019
Fraudsters@CBN
Re: CBN's New Policy On Cash Deposits: Nigerians React by MrSix: 3:17pm On Sep 18, 2019
Lols
People on this thread oh.
Re: CBN's New Policy On Cash Deposits: Nigerians React by izzou(m): 3:18pm On Sep 18, 2019
seunmohmoh:
By then I would be applying for my citizenship abroad. Shikina

That isn't easy either

grin
Re: CBN's New Policy On Cash Deposits: Nigerians React by tofolo(m): 3:18pm On Sep 18, 2019
Doctorfitz:
Lols.withdraw 450k and come back for d balance

Una never see anything.. Next level...

Country weh fit vote buhari ,vote tacha.na country b that?
bros the system is programmed to read cumulative withdrawals, so if you like withdraw 50k per withdrawal *10 you would be charged. angry
Re: CBN's New Policy On Cash Deposits: Nigerians React by yesloaded: 3:19pm On Sep 18, 2019
BlueRayDick:
But the policy says cash withdrawal and deposits amounting to 500k or more now

The policy is straight and simple.

What it is saying is that if u want to make a cash withdrawal of 500k then you should be ready to pay 15k as charges.

Also if you want to deposit 500k then u should be ready to add extra 10k on it as charges.

Now the question is why?

The answer is beacuse the government is trying to encourage a cashless economy.

So how do you avoid this penalty?

Simple! Don't withdraw cash in excess of 500k to pay anybody, rather collect their account number and transfer the cash to them. Also if someone wants to pay u 500k don't collect it since u know u can't keep it in the house but will take it to bank who will then charge u for the deposit. Instead, tell the person to use Ur POS or transfer to Ur account or they pay u tru USSD.

This way, the cashless policy will be implemented.

Why person go withdraw 500k cash for this present age? Who u wan use am pay wey no get account?
Present e-banking is bullshit

Let them fix many errors first before they impose this rubbish cashless policy

I had failed transaction last Friday and my bank is telling me they will reverse money in 15 banking days which is 3weeks. Let's assume I have no other money to settle the bill, what will be the result? I have to go to bank, withdraw so u can complete the payment.

Go out there and ask of peoples experience with POS withdrawal and transfer

Walk in to any bank at anytime and see if you will not see more than a customer that comes to lodge complaint of dispense or transfer error!

Let them fix the system first even if its 90% OK it will be better but what we have now is lesser than 50%

4 Likes

Re: CBN's New Policy On Cash Deposits: Nigerians React by Realcash224(m): 3:19pm On Sep 18, 2019
Just pay in 499,995 naira and request for #5 change from my #500,000 cash
Re: CBN's New Policy On Cash Deposits: Nigerians React by Brunosamel(m): 3:19pm On Sep 18, 2019
Nigeria Country of zoo, poor masses will always end up being the victim!
Re: CBN's New Policy On Cash Deposits: Nigerians React by joetem(m): 3:19pm On Sep 18, 2019
Na now una go hear am proper!!, una no know before say next level for every game dey hard!!!
Re: CBN's New Policy On Cash Deposits: Nigerians React by Uglyaddy: 3:19pm On Sep 18, 2019
post=82348843:

Mba, we no go gree lailai.

You must gree.You supported and voted for a vision less human.

2 Likes

Re: CBN's New Policy On Cash Deposits: Nigerians React by samirus: 3:19pm On Sep 18, 2019
post=82348843:

Mba, we no go gree lailai.
You have always been the favorite fan of this administration.. I think you can see we are in one chance now

2 Likes

Re: CBN's New Policy On Cash Deposits: Nigerians React by platinum131(m): 3:19pm On Sep 18, 2019
A country with no viable policy....anything they come up with is to make the masses suffer.
Re: CBN's New Policy On Cash Deposits: Nigerians React by Nobody: 3:19pm On Sep 18, 2019
After increasing VAT, even those legislooters wont talk about, no wonder I have confidence in saraki
Re: CBN's New Policy On Cash Deposits: Nigerians React by IGBOyoruHausa: 3:20pm On Sep 18, 2019
I am on the way to buy save, check total of 5% of every 500000. the money you struggled to get. If CBN and Government want money they should work hard as well not to steal people's money by policy
Re: CBN's New Policy On Cash Deposits: Nigerians React by seunmohmoh(f): 3:20pm On Sep 18, 2019
izzou:


That isn't easy either

grin
I will quote you in 2023
Re: CBN's New Policy On Cash Deposits: Nigerians React by zakim(m): 3:20pm On Sep 18, 2019
APC want to destroy this great country of ours
Re: CBN's New Policy On Cash Deposits: Nigerians React by olisaEze(m): 3:20pm On Sep 18, 2019
post=82348843:

Mba, we no go gree lailai.

Et tu brutus? cheesy

1 Like 1 Share

Re: CBN's New Policy On Cash Deposits: Nigerians React by LegoxMetahuman: 3:21pm On Sep 18, 2019
i have said it billions of times

emefiele is the most useless cbn governor ever
and buhari that re appointed him is even more useless.

1 Like

Re: CBN's New Policy On Cash Deposits: Nigerians React by Kingspin(m): 3:22pm On Sep 18, 2019
This is a sign of govt failure
Re: CBN's New Policy On Cash Deposits: Nigerians React by Joystark(f): 3:22pm On Sep 18, 2019
Even people wey no get pass #10k for account like me go follow react grin

2 Likes

Re: CBN's New Policy On Cash Deposits: Nigerians React by VajanahDischaj(f): 3:23pm On Sep 18, 2019
Doctorfitz:
Lols.withdraw 450k and come back for d balance

Una never see anything.. Next level...

Country weh fit vote buhari ,vote tacha.na country b that?
country wey dey protest fr Naira Marleynto be released and for crashing Bobrisky party, that one na country?
Re: CBN's New Policy On Cash Deposits: Nigerians React by Toji(m): 3:25pm On Sep 18, 2019
What will now be the profit of business men when 2and3% is taking away from their gross profit
Re: CBN's New Policy On Cash Deposits: Nigerians React by airsaylongcon: 3:25pm On Sep 18, 2019
BlueRayDick:
But the policy says cash withdrawal and deposits amounting to 500k or more now

The policy is straight and simple.

What it is saying is that if u want to make a cash withdrawal of 500k then you should be ready to pay 15k as charges.

Also if you want to deposit 500k then u should be ready to add extra 10k on it as charges.

Now the question is why?

The answer is beacuse the government is trying to encourage a cashless economy.

So how do you avoid this penalty?

Simple! Don't withdraw cash in excess of 500k to pay anybody, rather collect their account number and transfer the cash to them. Also if someone wants to pay u 500k don't collect it since u know u can't keep it in the house but will take it to bank who will then charge u for the deposit. Instead, tell the person to use Ur POS or transfer to Ur account or they pay u tru USSD.

This way, the cashless policy will be implemented.

Why person go withdraw 500k cash for this present age? Who u wan use am pay wey no get account?

Except I'm missing something here o

And when all these alternate channels decide to fail simultaneously as is the norm? And u are stuck trying to tell Emeka in computer Village that you really want to buy the iPhone 11
Re: CBN's New Policy On Cash Deposits: Nigerians React by Tonymegabush1(m): 3:26pm On Sep 18, 2019
BlueRayDick:
But the policy says cash withdrawal and deposits amounting to 500k or more now

The policy is straight and simple.

What it is saying is that if u want to make a cash withdrawal of 500k then you should be ready to pay 15k as charges.

Also if you want to deposit 500k then u should be ready to add extra 10k on it as charges.

Now the question is why?

The answer is beacuse the government is trying to encourage a cashless economy.

So how do you avoid this penalty?

Simple! Don't withdraw cash in excess of 500k to pay anybody, rather collect their account number and transfer the cash to them. Also if someone wants to pay u 500k don't collect it since u know u can't keep it in the house but will take it to bank who will then charge u for the deposit. Instead, tell the person to use Ur POS or transfer to Ur account or they pay u tru USSD.

This way, the cashless policy will be implemented.

Why person go withdraw 500k cash for this present age? Who u wan use am pay wey no get account?

Except I'm missing something here o

U knw Nigerians can twist a statement to suit their narrative, hardly can tbey understand simple content soon they will be claiming intellectual... Tnks for the explanation

2 Likes

Re: CBN's New Policy On Cash Deposits: Nigerians React by Joystark(f): 3:26pm On Sep 18, 2019
Even people wey no get pass #10k for account like me go follow react. grin

1 Like

Re: CBN's New Policy On Cash Deposits: Nigerians React by Ijawwomaninoyo: 3:26pm On Sep 18, 2019
Use two tellers to deposit/withdraw your money twice, simple! Dem go tire.
Re: CBN's New Policy On Cash Deposits: Nigerians React by Difrent: 3:26pm On Sep 18, 2019
Nigerian youths on nairaland una no try

See comments, no intelligent one so far

Shior

1 Like

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