NextGovernor:
Useless Administration with useless policies..

It is not policy of this present administration, and it has been on in Lagos Abuja, River, and Kano state up to two years plus Jonah dumb hand it over to Bubu for continuation

OKAY

If only the charges is going to the government account it would have made sense small.

I am going back to using my saving box

ifyan:
"You have cheque, Point of Sale, transfers through ATM, mobile phone, Internet banking, even the latest USSD code. These are without charges. There is no discouragement and there is nothing to fear,” he said."

Mr. CBN, banks charges #100 - #105 when making transfers and #65 for making withdrawals through the ATM

ifyan:
"[b]“How can banks refuse to sell forex to retail segment now? How can they prove the claim that there is not enough supply for the retail segment? It is just that they cannot do as it pleases them. But they will hear from us soon,” the source said"

Mr. CBN, banks are the worst financial institution ever existed and maybe they have their own hidden policies you don't know about Mr. CBN. Most banking institutions needs a complete overhaul. Anyway, kudos Mr. CBN

my 50million at home how will i deposite it

9jakohai:




Some of you people do not take time to read the article.

You people say that most Nigerians are suffering under Buhari's admin...then at the sign of a tax rate that is clearly targetted at the rich...not the poor...you people accuse PMB of making the masses suffer.

At least 90% of Nigerians won't be affected by this rate....unless you want to start telling me that poor Nigerians have a monthly income of N1million and above.

Believe me, you do not know what you are saying. It's only those working in banks that knows that this policy is coming at the wrong time. The rich are enlightened and have the means of using electronic channels, therefore they can escape the charges. It's the average and lower class who are into business that will be affected. How many of the average Nigerian in the market have POS. Do you even knw the difficulty of getting POS from banks. No to talk of when there is network issues. The policy is good but wrong timing.

HOW THESE TAXES ARE TO BE UTILIZED IS WHAT REALLY MATTERS
BECAUSE I DONT TRUST THIS RULERS CALLED LEADERS.

Nice move.

We need to move this country forward technologically.

The era of ANALOG systems of doing things should be a thing of the past by now.

Next stop: DIGITAL ELECTRICITY!!!

9jakohai:


Some of you people do not take time to read the article.

You people say that most Nigerians are suffering under Buhari's admin...then at the sign of a tax rate that is clearly targetted at the rich...not the poor...you people accuse PMB of making the masses suffer.

At least 90% of Nigerians won't be affected by this rate....unless you want to start telling me that poor Nigerians have a monthly income of N1million and above.

Wasted youths hardly read so you don't have to be shocked that most of them will never read the article before rushing to spew their trashy comments.

Cashless policy... . I'll rather put the money in ponzi.

Rich4god:


Believe me, you do not know what you are saying. It's only those working in banks that knows that this policy is coming at the wrong time. The rich are enlightened and have the means of using electronic channels, therefore they can escape the charges. It's the average and lower class who are into business that will be affected. How many of the average Nigerian in the market have POS. Do you even knw the difficulty of getting POS from banks. No to talk of when there is network issues. The policy is good but wrong timing.

Even then...how many Nigerians have the wherewithal to move N500000 daily?

Most of the masses won't be affected by this measure...and that includes small scale traders, many of whom operate outside the banking sector anyways.

Bad news for bank marketers.

Never seen people like APC members who are addicted to telling and believing lies and half truths

Shameless people. Even when they know that we know they are lying, they can't help themselves.

So Jonathan govt charged us for deposits? God forgive you for your bloody demonic lies.

Yet CBN announced the policy took off On April 1st 2017. You people need deliverance

Jabioro:
It is not policy of this present administration, and it has been on in Lagos Abuja, River, and Kano state up to two years plus Jonah dumb hand it over to Bubu for continuation

9jakohai:


Even then...how many Nigerians have the wherewithal to move N500000 daily?

Most of the masses won't be affected by this measure...and that includes small scale traders, many of whom operate outside the banking sector anyways.

Go to most of these northern states that have major markets like cattle market, grains etc... Even down east, all these weekly market. Most of the buyers and sellers transact abv 500k on these market days. And they all deal on cash.

Some rural sellers go to town and buy goods worth much more than that to sell in the village. Hw will dey cope. Most pple supporting this policy are either residing in all these big cities like Lagos where businesses have really adopted electronically. You need to move around to see the huge cash pple can't do without.


This policy shld hv been left on withdrawals.

Optimusshield:
Bad news for bank marketers.

Nope, gud news for them if they know wat they are doing.

9jakohai:


The only people taxed here are those who can make a daily deposit of N500000 a day and above....which, excludes about 80% of Nigerians...if not 90%

The rich are being taxed, not the poor masses, so to speak.

And we need the money to....you know...pay salaries, fund contracts, etc...

Please continue to educate them, many here have a pre-mind set. So they just comment without thinking through it..

9jakohai:


The only people taxed here are those who can make a daily deposit of N500000 a day and above....which, excludes about 80% of Nigerians...if not 90%

The rich are being taxed, not the poor masses, so to speak.

And we need the money to....you know...pay salaries, fund contracts, etc...

Lol.... Fund contracts ke... Who do u think takes the charges.

Now that it is al abt policy implementatn dat favours gvt.rivers abia and enugu all igbo states ar among d first five state to start it.bt when it comes to reaping d benefit.apointnmt.and projects.they ar given 5%

VULCAN:
Never seen people like APC members who are addicted to telling and believing lies and half truths

Shameless people. Even when they know that we know they are lying, they can't help themselves.

So Jonathan govt charged us for deposits? God forgive you for your bloody demonic lies.

Yet CBN announced the policy took off On April 1st 2017. You people need deliverance

Dont argued blindly.. ask or seek for correct info.. except you are not into big time cash deposit making shifting the goal post.

well I don't know wat their saying as long as it doesn't affect my transactions of 2000n-5000n. wen God bless me much I can den worry abt dis policy as for now e no concern me.

All i want to say...

Sick policy, sick system, sick president!

To me, this is simply stupidity.

This government always comes up with policies that stifle business growth.

I deposited ordinary N80,000 and was charged STAMP DUTY on friday 24th february. So we are encouraged to keep money outside the banking system.

How does stamp duty charge assist cashless policy ?

NextGovernor:
Useless Administration with useless policies..

They derive joy in suffering the masses..

Holatunde007:
Pls what's the implications of this Act now?
Meanwhile


pls fellow nairalanders, am a student in my HND 1 Estate management. Pls the semester is just ending, I need any work either factory or office job I can do within two months before school resumes to have my school fees paid.
Pls help a striving brother, am currently staying in Abeokuta
This is my contact both what'sapp and direct call is allowed O7O 33 26 61 93

In yoruba land, alot of people do ritual.

Be careful in your job seeking. God bless you..

The ATMs don't always work. They've reduced the daily transfer limit using ATM to about #300k. Some ATM don't show the details of the receiver so it's risky sending since a mixup of a single digit can port the cash to someone else.

Internet banking is highly unpredictable and down when you need it most.

Most ATMs now dispense only #10k per transaction. So if I need #200k, I'll withdraw 20times and pay 1300 (65*20) for transaction charges.

No need to panic it's only Rich people like me that are targeted, no qualms as a business owner I am happy to pay the charges as long as the fund accumulated from the charges are used in the Appropriate way

so, u will be charged 4 million for depositing more than 40 million. wow!!!!!!

Na to put my money in an investment bank sure pass . At least, I know my money will be there and it would even yield interests coz they'll use it for other businesses which would definitely give them profits after some time.

This is the only type of policy the Nigerian authorities can hurrying establish. Give us power, No. OK give us road, No. These are some things that could transform Nigeria immensely but of course they cannot. If they increase NEPA bill or petrol before the official announcement the price is already operational. Why? Our leaders are the devil Nigerian can see.

Boleyndynasty2:
Read through and its okay by me since the bank Charges doesn't concern me . Even with this policy some bank managers will still do some underground work.


For anyone trying to withdraw or deposit more than 500k will have to do it in installments naw

But it would not be on the same day.

Is this kind of mumu thing they can start with plateau....... But if its in appointment and giving contract, we will be in last batch.