Banks Defy Legislature, Serve Notice Of Cashless Policy Implementation

Despite the House of Representatives directive that CBN and banks stop the implementation of the latest cashless policy initiative, some banks appear bent on going on with the move.

Polaris Bank, for example, has served notice to its customers.

Nigerians see the move as fleecing bank customers by financial institutions with the active connivance of the CBN.

The House of Representatives responded to these misgivings by ordering the banks to shelve the plan. But banks, standing to benefit, seem determined to go on with the plan.

Now it is a matter of who blinks first and whose words will hold water: the Legislature or the banks.

ATTENTION PLEASE...

ofcourse they are the beneficiaries.. what do you expect.. being a Nigerian is definitely Hell

Hahahaha! First of, shey Naija get legislature talkless of say dem wan defy am? Mstchew!

Nigerians deserve better than this!







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BarrElChapo:
ofcourse they are the beneficiaries.. what do you expect.. being a Nigerian is definitely Hell

So u sef dey fly like me for night? U don shapaly reach here
I envy your flying speed.

baba I just dey test my new flying mat o.. V16 turbo supercharged engine. The best !

2rez:


So u sef dey fly like me for night? U don shapaly reach here
I envy your flying speed.

BarrElChapo:
baba I just dey test my new flying mat o.. V16 turbo supercharged engine. The best !

Chai! I talk am na. The engine na super true true . E go be the upgraded version of Aladin mat i guess . Aliexpress go get? Asking for a neighbor.

AliExpress too far nah.. you can source locally na BeninExpress sure die o.. Latest tech Fully padded
That your neighbor go dey eternally thankful

2rez:


Chai! I talk am na. The engine na super true true . E go be the upgraded version of Aladin mat i guess . Aliexpress go get? Asking for a neighbor.

BarrElChapo:
AliExpress too far nah.. you can source locally na BeninExpress sure die o.. Latest tech Fully padded
That your neighbor go dey eternally thankful

Infact ehn, i can't thank u enough. U be the realest. U just buttered a neighbor's bread with your stress free suggestion . Wetin dey sokoto wey man dey find go Sokoto, hmmn. Anywhichway, go update u as e be bruh

The bank's excuse will now be that they've not received any directive from CBN, only because the policy favours them.

Phace:
The bank's excuse will now be that they've not received any directive from CBN, only because the policy favours them.

We all are victims and potential victims.

OP should please push and let this make front-page so it can attract the necessary attention and action.

Complete ediots

If it is what will put money into our pockets, they will all be hesitant and not act quick...but if na to collect our money, sharp sharp, them don send notice & emails...clowns!

Lazy government!

Btw, I think banks are running away from the 60-40 deposit ratio.

It's not fukking any cashless economy.

Polaris. Huge fraudsters. Read my experience with those scammers

Abalado:
These banks yaf kill their customers, Polaris is the worst bank I ever see in my life, thank God I've left their stupid bank for another one, they will just cut ur money anyhow, that one stupid charges, especially when I was rushing to the bank to withdraw my last 1k and to get their and met 865 naira, I treck from oshodi apapa that day

That Polaris ehn. Legit frauds. Same with fcmb. I'm going to be closing my two accounts with those two fraudster banks before this week ends. God. They're thieves!!!! I tried to close my Polaris sometimes in February but one agent was just advising me not to, I refused picked a form and asked for the closure. Till today, they haven't and keep deducting my 2,000naira balance that they said I can't withdraw. My own money ooo. I couldn't even load my phone with d 2k again. Ha God. My own money. And this is how these banks scam several other Nigerians.

Edit: just imagine I checked my Polaris balance after this post. See what they've reduced my 2000naira to!! please what can I do? These guys are LEGAL THEIVES. THEY'RE THE REAL YAHOO YAHOO

Is it my end or you can’t see anybody’s signature from thread again ?

Polaris is a greedy pig � of a bank. God dey.

Too bad

The House don't regulate the banks, CBN does. Let CBN issue another directive to this effect and the banks will comply

YOU NEED TO BE EDUCATED ON THIS NEW CBN CASHLESS POLICY.

CBN Policy Says Cash Withdrawal and Deposits Amounting to 500k or more now are to attract additional charges,

The policy is Straight and Simple.

What it is saying is that if You 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 You 500K don't collect it since You know You can't keep it in the house but will take it to bank who will then charge You for the deposit. Instead, tell the person to use Your POS or transfer to Your account or they pay You through USSD CODE.

This way, the Cashless Policy Will be Implemented.


Culled from:- Moshood Abiola Ologundude FACEBOOK PAGE

Should I share the ones Union Bank, GTB and Fidelity Bank sent to me?

Its time to build a safe in the house with that 3 & 5 % respectively

JKisOK:
Banks Defy Legislature, Serve Notice Of Cashless Policy Implementation

Despite the House of Representatives directive that CBN and banks stop the implementation of the latest cashless policy initiative, some banks appear bent on going on with the move.

Polaris Bank, for example, has served notice to its customers.

Nigerians see the move as fleecing bank customers by financial institutions with the active connivance of the CBN.

The House of Representatives responded to these misgivings by ordering the banks to shelve the plan. But banks, standing to benefit, seem determined to go on with the plan.

Now it is a matter of who blinks first and whose words will hold water: the Legislature or the banks.

ATTENTION PLEASE...

Do you think Emeifele decided it singlehandedly? Ofcourse, the banks are also culprits. Am not surprised about polaris bank neway, didn't it make the news that buhari's cronies bought the bank during the election year!!!

We dey watch as e dey go.

What are you doing with 500k cash in the first place? Are you a criminal?

Polaris need to change their old and blind ATM machines.

BarrElChapo:
ofcourse they are the beneficiaries.. what do you expect.. being a Nigerian is definitely Hell

If you really understand the policy and desire the good things that come with a cashless policy, you won't see a problem in this.

In what circumstances do you think people need to withdraw or deposit N500k cash into/from their bank account?

I think the charges are fixed.

Wat is d difference from any other bank cashless policy newsletter that was sent out

Abi una de promote polaris brand

Again I hate Polaris bank like.mad so slow

But why is it only in lagos , ogun , ph, Anambra. Not understanding this shii

Okay

JKisOK:
Banks Defy Legislature, Serve Notice Of Cashless Policy Implementation

Despite the House of Representatives directive that CBN and banks stop the implementation of the latest cashless policy initiative, some banks appear bent on going on with the move.

Polaris Bank, for example, has served notice to its customers.

Nigerians see the move as fleecing bank customers by financial institutions with the active connivance of the CBN.

The House of Representatives responded to these misgivings by ordering the banks to shelve the plan. But banks, standing to benefit, seem determined to go on with the plan.

Now it is a matter of who blinks first and whose words will hold water: the Legislature or the banks.

ATTENTION PLEASE...

The legislators have no power to stop the CBN or the banks from implementing this policy. Only the courts or the CBN can order such.

JKisOK:

We all are victims and potential victims.

OP should please push and let this make front-page so it can attract the necessary attention and action.

Please educate me on why the policy is bad?