Jagabanbattle:


Bro, people hoard currency still. Large transaction will be done in foreign currency. If we look beyond, this is even a recipe for hoarders to start hoarding hard currency.

People hoard but the truth remains its a unwise risk and unsafe from all perspectives.

Hoarders don't need a recipe to hoard e get why they bear that name naw

dre11:



https://thenationonlineng.net/nigerians-hoarding-94-percent-cash-says-cbn-report/

80% of those funds are hoarded by our corrupt politicians.

RockHard:
Ever since that disastrous Emefiele naira confiscation policy, a lot of people stopped trusting banks to keep their money safe for access whenever they need it.

I for one dont take money to banks anymore.

Besides that, inflation is the reason for the jump. If you have 100k in your pocket before, you will quickly want to take it to bank because it's a significant amount of cash that you don't want to lose to armed robbers.

Now 100k can't even buy 2 bags of rice, so why you just keep it around.

Nobody is hoarding any cash okay, who would be hoarding cash when there is high inflation, now that people can hardly save any money coz every money earned is quickly spent. This report is skewed abeg

adeolamighty:


60% of the cash are with POS operator

so Pos operators are hoarding cash? Do you know the meaning of hoarding? Pos operators distribute cash for a fee, so they can never make profit through hoarding. They must give it out to make profit

Let them ask themselves the politicians,the bankers where is our money we kept in d banks?

GanagiBitrus:

Nowadays I mostly do cashless transactions & so is the case with most Nigerians. So where is this report coming from?

You clearly don't understand the meaning of the word 'most'

Slimlord:

You clearly don't understand the meaning of the word 'most'

&You clearly don't understand contextual meaning.

Hint: Compare Percentage Cash being hoarded by Nigerians nowadays in 2024 vs say, in 2022. 👋

maasoap:


Were there not POS before cash confiscation policy of Emefiele? Was CBN crying during that time? No. During cashless policy, I had nothing less than 400k kept at home on standby which I didn't touch. Something I never thought about before cashless palaver.
POS people only serve to reduce the rate at which bank customers go to banks to withdraw. Whatever cash they withdraw or receive on daily basis, they also give it out to people/customers on daily basis. It is not like they are withdrawing cash everyday and keeping it

.

Nah today POS start. POS dey before cashless policy