yemmit90:


People will simply keep alot of cash at home, and there would be too much money in circulation. The policy doesn't make any sense to be honest.

200 or less denominations is more than ok to discourage heavy withdrawal. If I want to withdraw anything above 10k, I rarely patronize #500 ATM, let alone 200 or less.

Obinnau:
I I don't don think emefiele will go anytime soon can't wait for this tenure to end so that Emefiele will go. This man has killed our economy with armchair economics.

Way4orward:
Pos agents don blow be dat

Paxxcarl:
Pos might be going out of business
Cashless policy

Sweetnesstwins:
Haba na...this is festive season

Bonesbreaker:
This is bad

DJInfluence:
monkey, snakes and even rat go chop the money

Obinnau:
I can't wait for this tenure to end so that Emefiele will go. This man has killed our economy with armchair economics.

linearity:


But you can do a transfer from you phone.

Let’s look at the big picture, there is no policy implemented that will satisfy everyone in the Country.

This one will help sap lucrativeness out of kidnapping because the only means of them receiving their high demands will be through a transfer which can be traced later.

This policy is good, especially in Nigeria and will help fight corruption, yes there will be little inconveniences as you indicated, but look at the bright side…….you now have one more reason to give to your dates why you can’t spend BIG on your date nights!

obi58:


POS guys will have to think out of the box.... For example if I want to withdraw 100k from POS instead of using ATM card I will transfer to the POS person who will include charge. However the challenge they will have is sourcing for cash with the new bank withdrawal charges I suspect POS charges per withdrawal will have to increase.

The real difficulty lies in going to the market. If you want to pay a market woman who is not enlightened above 20k how you go fit do am?

Akwamkpuruamu:
Now, how will POS guys survive? This is not fair to the common man

Mrfksb1:
How about old people? I live in LA how will my aged parents withdraw when I send cash to them? Please I need some answers


What kinda of shithole country is this for God sake making people suffering unnecessary

I really pity those living in Nigeria

Mrfksb1:
you know nothing. You can withdraw even more than $10k a day. Do you know how much is $10k to naira

Whois:
Instead of new bank account, simply request for atm from Carbon, fairmoney, opay etc.

Princess80:
The central bank wont be producing so many cash.
If you hoard the notes, then paper currency will not be there for people to access as you people already have limited notes.
If you bring it out, others will hoard it which will in turn make everyone go cashless.

Thats what i believe though

yemmit90:


They will not as far as it does not affect electronic fransfer.

The implication of this policy is that, there would be too much money in circulation as people won't take their cash to the banks anymore. They would rather keep cash at home having known that they may unable to withdraw a certain amount if there is need for it. POS guys too will keep alot of cash instead of taking them to bank.

#200 or less denominations at ATM is more than enough to discourage heavy withdrawal. The policy will do more harm than good.

AutoRedux:
Withdraw from different bank accounts. I have up to 5 accounts from different banks so I can easily withdraw 20k up to 5 times.

Kayyus09:
POS business will be more profitable

Mrfksb1:
How about old people? I live in LA how will my aged parents withdraw when I send cash to them? Please I need some answers


What kinda of shithole country is this for God sake making people suffering unnecessary

I really pity those living in Nigeria

jibrilELsudan:
HOW ASHAWOS GO CUM DO NOW

Kayyus09:
POS business will be more profitable

sonature1:


You live in America, but you cannot enlighten your aged parents to embrace technology. It's entirely your fault.

You want Nigeria to remain backwards so you can insult the country at will. Sorry, it won't work.

Just the way old people moved from cowries to paper money, they will have to embrace technology as well. It's no longer optional - it's a necessity.

SmartyPants:


It won't affect them much.

The vast majority of POS transactions are under 10k.

Biafraaa:
Seems like here is where Opay will come in.
Or did they include Opay in this new madness policy?

Paxxcarl:
Pos might be going out of business
Cashless policy

Akwamkpuruamu:
Now, how will POS guys survive? This is not fair to the common man