There are not many people who earn 500k and above in Nigeria as salary and businesses that earn that amount daily in sales do not keep it as cash rather they pay for more products and are constantly cycling the money.
Those who earn that much get their salary in their accounts and not by hand.

Since CBN introduce the policy of paying charges on withdrawal and deposits above 500k daily, not monthly o, daily, suddenly everybody has become so rich and are now the target of Buhari.

So those of you who just one week ago were complaining that bag of rice was too expensive and have suddenly started making 500k this week should come and tell us the business they suddenly started doing this week that generates cash revenue or requires payments to only be done in cash.

What a senseless tread. If you haven't make 500k before, didn't you pray to make it one day? or you people think every Nigerians are Buharist who believes poverty is permanent in their life?

That is why I want to know what business you do DAILY that requires you to go and deposit 500k every day?

I can think of very big petrol stations but many of them use POS, I am not in the upstream even though I doubt they make 500k daily, so you that makes 500k cash daily tell us what you know. The keyword here is cash transaction.

Adurofight:
What a senseless tread. If you haven't make 500k before, didn't you pray to make it one day? or you people think every Nigerians are Buharist who believes poverty is permanent in their life?

BMC miscreants thinks everyone earns 30K like them.

Will You shut up and have some shame and sense for once ..do you know it's people like you that will bear the cost of that charge whether or not you make 500k ..let me school you since you are just a 1 dimensional thinker , the policy Is primarily Target at traders who collect a bulk of their sales as direct cash , so the bulk provision seller in Idumota where all the cheap sachet milk you buy from that Mallam beside your house come from likes does sales in cash above 500k a day and when he takes that sale to the bank and the bank charges him 5 % he Will be left to with no choice than sneak it into the cost of the milk which will eventually be passed to a poor struggling man like you when you get to your Mallam at night to buy one sachet of milk to hold body after supporting Buhari all day on your ITEL phone given to U by the govt .

9jatriot:
That is why I want to know what business you do DAILY that requires you to go and deposit 500k every day?

I can think of very big petrol stations but many of them use POS, I am not in the upstream even though I doubt they make 500k daily, so you that makes 500k cash daily tell us what you know. The keyword here is cash transaction.

Most bulk traders in Balogun and Idumota have cahs sales of over 500k a day you can ask any bank around there

Davash222:
BMC miscreants thinks everyone earns 30K like them.

so u earn 3m daily? why would you be scared of mobile transfer? you want to always walk to the bank with 3m monthly?

FarahAideed:


Most bulk traders in Balogun and Idumota have cahs sales of over 500k a day you can ask any bank around there

Okay fair enough, but business accounts is 3M daily so what are you talking about?

dukeprince50:
so u earn 3m daily? why would you be scared of mobile transfer? you want to always walk to the bank with 3m monthly?

You are a 1 dimensional thinker SMH

dukeprince50:
so u earn 3m daily? why would you be scared of mobile transfer? you want to always walk to the bank with 3m monthly?

Not everyone is conversant with ibanking. Sometimes, move away from your brown roof hut and visit other places. 80% of guys doing business in Idumota, Alaba, Ladipo, Ariaria international market, ‘Upiweka’, etc don’t know what your mobile transfer is all about and they make over 500K daily. These guys are the prime target of this nonsense policy.

FarahAideed:
Will You shut up and have some shame and sense for once ..do you know it's people like you that will bear the cost of that charge whether or not you make 500k ..let me school you since you are just a 1 dimensional thinker , the policy Is primarily Target at traders who collect a bulk of their sales as direct cash , so the bulk provision seller in Idumota where all the cheap sachet milk you buy from that Mallam beside your house come from likes does sales in cash above 500k a day and when he takes that sale to the bank and the bank charges him 5 % he Will be left to with no choice than sneak it into the cost of the milk which will eventually be passed to a poor struggling man like you when you get to your Mallam at night to buy one sachet of milk to hold body after supporting Buhari all day on your ITEL phone given to U by the govt .

calm down, if you deposit 1m, they will charge you 10k, that is like charging you N2 for a deposit of N100

Adurofight:
What a senseless tread. If you haven't make 500k before, didn't you pray to make it one day? or you people think every Nigerians are Buharist who believes poverty is permanent in their life?

I don't pay any debt or bill via cash


What job will someone do that will amount to 500k pay out in Buhari's Nigeria ?

The cashless policy will cripple those who engage in illicit activities.

FarahAideed:


You are a 1 dimensional thinker SMH

archaic man, if u make 500k daily, u should have corporate Accnt, if u make 3m daily, u should not be scared of paying N30k for every 3.1m u deposit

GenSpecifics:

I don't pay any debt or bill via cash

What job will someone do that will amount to 500k pay out in Buhari's Nigeria ?
The cashless policy will cripple those who engage in illicit activities.

u deh mind those thieves

dukeprince50:
calm down, if you deposit 1m, they will charge you 10k, that is like charging you N2 for a deposit of N100

Some still has to bear that cost , in the business of fast moving consumables 2naira is huge and they must pass it to the end consumers so expect provisions price at you street Mallam to rise slightly

That is why they are called fast moving, the money is always cycling, they are being used to pay different suppliers to restock and mostly from corporate accounts, so who are those individuals that do 500k every day of the week, where them de?

FarahAideed:


Some still has to bear that cost , in the business of fast moving consumables 2naira is huge and they must pass it to the end consumers so expect provisions price at you street Mallam to rise slightly

there will be no significant rise, because many people do not make 500k daily and those that make it have corporate accounts.
only those that make above 3m daily will bear the cost, but if I make 90m monthly, i won't be scared of paying 100k monthly, and this will make me embrace mobile banking since there is no charge attached, only those in illicit business will have no other choice

dukeprince50:
there will be no significant rise, because many people do not make 500k daily and those that make it have corporate accounts.
only those that make above 3m daily will bear the cost, but if I make 90m monthly, i won't be scared of paying 100k monthly, and this will make me embrace mobile banking since there is no charge attached, only those in illicit business will have no other choice

You didn't even get my point ..SMH

dukeprince50:
archaic man, if u make 500k daily, u should have corporate Accnt, if u make 3m daily, u should not be scared of paying N30k for every 3.1m u deposit

I have always said one needs an IQ rating of below 50 to support Buhari and I am right

FarahAideed:
Will You shut up and have some shame and sense for once ..do you know it's people like you that will bear the cost of that charge whether or not you make 500k ..let me school you since you are just a 1 dimensional thinker , the policy Is primarily Target at traders who collect a bulk of their sales as direct cash , so the bulk provision seller in Idumota where all the cheap sachet milk you buy from that Mallam beside your house come from likes does sales in cash above 500k a day and when he takes that sale to the bank and the bank charges him 5 % he Will be left to with no choice than sneak it into the cost of the milk which will eventually be passed to a poor struggling man like you when you get to your Mallam at night to buy one sachet of milk to hold body after supporting Buhari all day on your ITEL phone given to U by the govt .

very wuked guy!


a zombie just got beheaded!

Davash222:

Not everyone is conversant with ibanking. Sometimes, move away from your brown roof hut and visit other places. 80% of guys doing business in Idumota, Alaba, Ladipo, Ariaria international market, ‘Upiweka’, etc don’t know what your mobile transfer is all about and they make over 500K daily. These guys are the prime target of this nonsense policy.

brown roof? lol, I am not from that part but I assure u, except u are born in Lagos or Abuja, ur state cannot be compared to mine and someone who makes 500k daily should have an idea of mobile banking

FarahAideed:


I have always said one needs an IQ rating of below 50 to support Buhari and I am right

I wonder why someone on same level with Albert Einstein didn't get my point, are u into drugs? why are u scared of mobile banking?
some people are so dump

FarahAideed:


I have always said one needs an IQ rating of below 50 to support Buhari and I am right

a man with IQ less than 5 should know this is not about Buhari, I like you because u are a living proof that man can live without brain

dukeprince50:
I wonder why someone on same level with Albert Einstein didn't get my point, are u into drugs? why are u scared of mobile banking?
some people are so dump

The word is "dumb" sir not "dump".. I was right about that <50 IQ

dukeprince50:
mumu, if you make 501k anyday, there is no harm paying 2% of 1000 just to put it in bank, if you make 500k daily, you will have a corporate Accnt and u won't be charged for depositing 500k daily but if you earn 3m daily which is 90m monthly, you should know what internet banking is all about except u want to stupidly walk to the bank and deposit 3m everyday

Oga 2% of 500k is 10k. Since you don’t know this it’s obvious why 500k is a big deal to you.

maximilano:

Oga 2% of 500k is 10k. Since you don’t know this it’s obvious why 500k is a big deal to you.

alryt I won't insult u since u tried to make a point with less insult so I'll explain to u. The bank won't charge you for the 500k, they charge u for the excess above the 500k that is why I said if u deposit 501k, there is no harm in paying 2% of the 1k which is the excess. so they charge u just N20, for N501,000. Only those who do not understand rain insults on others, be frank to urself, is N20 too much

This post was inspired by poverty

FarahAideed:


The word is "dumb" sir not "dump".. I was right about that <50 IQ

even an idi0t understands typo error, u are less than a m0ron

maximilano:

Oga 2% of 500k is 10k. Since you don’t know this it’s obvious why 500k is a big deal to you.

Did you read what he wrote, he said there is no harm paying 2% of 1000 which in this context is correct.

The CBN policy is that any cash lodgment above the 500k threshold for individuals will attract a charge. So if the amount is 501k, it is only the 1k that will attract a charge, 2% of 1k is 20 naira.

So if you pay 501k into your account the extra charge will be 20 naira not 10k, you see.

We agree, that is why we are saying those of you that were complaining that rice was too expensive last week and now suddenly make 500k this week should teach us what legal things they do so that we can all be lifted up and be inspired by wealth.

Earthquake1:
This post was inspired by poverty

9jatriot:
There are not many people who earn 500k and above in Nigeria as salary and businesses that earn that amount daily in sales do not keep it as cash rather they pay for more products and are constantly cycling the money.
Those who earn that much get their salary in their accounts and not by hand.

Since CBN introduce the policy of paying charges on withdrawal and deposits above 500k daily, not monthly o, daily, suddenly everybody has become so rich and are now the target of Buhari.

So those of you who just one week ago were complaining that bag of rice was too expensive and have suddenly started making 500k this week should come and tell us the business they suddenly started doing this week that generates cash revenue or requires payments to only be done in cash.

For example a lace seller at Balogun market or a medium supermarket will make sales in excess of N500K a day.