ForeThinker:
Senate still dey ?

Yes, though they are still on recess but would be resuming next week.

They better do

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People who haven't made a cash deposit or withdrawal of 100k in the last 5 years are the ones making noise about the policy.

Unfortunately, the HOR or the Senate can't decide this. Nothing for them.

Till when Naija

Useless people!
Na so ATM come, everybody begin shout say which kind thing be dis o, Nigeria neva mature, now old women for village dey use ATM card.

POS machine come, dem begin shout say Nigeria neva mature, now even pepper seller dey use POS.

Now CBN wan do cashless, because say e nor go support una Ghana must go cash thief thief, una dey shout Nigeria neva ready.

Mtcheeeeeeeew!

One day this nation would burn from rage, it would be an undeniable one from decades of anal rape of a nation by policies and selfish leadership.

I dont think this house of assembly of a body understands what their function is. They can't tell the executive what to do! If they dont like the cashless policy they can pass a law forbidding it, subject to presidential assent but they have no legal right to give orders to the CBN on what or what not to do.

EDIT I just read the full story, misleading headline!! They merely "urged"

You can always count on the legislators to stifle progress especially when it affects them directly.

The same way they hampered operation velvet on Lagos roads

However the question is; does cbn fall under their jurisdiction or are they faffing as usual?

You embraced system automation, down sized your workforce, introduced cashless policy which further forced some staffs to resigne on there own due to unfavorable renumerations
Now you want to add charges on bank transaction. Downsized work force and increased income only for the fishs.

[quote author=Freehuman post=82381305]That cashless policy could have turned everything around in 2023 election tribunals.
Imagine a scenario where all a lawyer needs to do to support his claim that a politician was involved in votes buying is to present the politician's bank details showing history of numerous 5000 Naira transfers on election day.
Secondly, how do they bribe those in rural areas. If it didn't threaten the existence of the selfish legislature at Abuja, it would be a welcomed development.[/quote

Yes it could only if it is a complete restriction without the option of paying charges for excess deposit or withdrawal during the last implementation people pay as much as 85k charges on cash withdrawal on just a single transaction, that was just a business man not to talk about Politicians and their Ghana must go mentality

Guy men no wan make cbn scam dem join Na lol

I didn't read the whole writeup but, from the topic, I strongly support the move for it to be suspended.
While it is a good thing to charge OTC transactions, retaining the charges on online/cashless transactions is a flaw. If u want to support cashless policy then, remove all charges linked to it.

will the CBN obey this directive or its just another "make we talk" from the house of Rep?

[quote author=rotile247 post=82381649][/quote].

Business men don't keep money in their houses . Business men have shares, flows and investments. Their money is either in the bank or businesses because they keep selling something. People who have huge money at homes , in tanks, underground, in ceilings are politicians because they money they steal is not made to flow back into the system except during particular periods of election.

Those shouting on social media do not even do daily 500,000 naira transactions. It's simple, instead of a seller getting 500000 Naira cash, he should order a transfer. The CBN should give a deadline maybe begin to enforce it on 1st October at that point every reasonable person and organization who have nothing to hide must have lodged his cash in the bank.

Robbing people going to the bank, funding crime and terrorism, stealing public funds will easily be detected.

MusaChukwudi:


Its a good response from the House actually! Kudos Omunna Kalu!

Rubbish, don’t want to pay the charges, then use your debit card, the cost of printing paper money is too exorbitant.

Good move, this cashless policy is getting fraudulent




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valentineuwakwe:
will the CBN obey this directive or its just another "make we talk" from the house of Rep?

CBN does not take others from the Senate, the Reps are only pretending to beg on behalf of the oblivious few, they themselves know it is a right policy.

DaSleak:


https://www.google.com/amp/s/punchng.com/cashless-policy-reps-ask-cbn-to-suspend-charges-on-deposits/amp/

i weep for the zoo... Heaven punish any idiot praying for the zoo

Good news las las

These are the people that deserve car but not billion naira cars that some rob the people blindly are proposing awon barawo

JONNYSPUTE:
Cashless banking is good but are we ready for it?

when they have good internet, one restaurant POS has mess me up before, i have to call a friend to come and pay for me ..

The last time the presidency heard n responded to the HOR was back in 2013. I think this arm of the legislature is so weakened n holds no clout. Last term, they screamed n summoned buhari until their throats caught fire n they kept quiet.

Larrykaysail:
when they have good internet, one restaurant POS has mess me up before, i have to call a friend to come and pay for me ..

.. Exavtly. They should also consider people running petrol stations and gas plants because they always transact in cash.

Cashless banking is great, but those proposed deductions we're simply outrageous. As a matter of fact, I believe that those deductions are simply counterproductive. SME's are yet to recover from multiple taxations and the VAT increase, now this?? God punish devil.

THis is a selfish move by the house of assembly. The talk around cashless policy has been on since the time of SLS so all this bullshit about them not engaging relevant stakeholders cannot stand. the average man on the street does not have any reason to withdraw or deposit 500k. This is even good for the anti corruption fight which we(the common man) agree is needed to move forward.

PassingShot:
People who haven't made a cash deposit or withdrawal of 100k in the last 5 years are the ones making noise about the policy.

Unfortunately, the HOR or the Senate can't decide this. Nothing for them.

Do they even understand what the policy means.

Government of no direction

Please since 2015 what sensible economic policies has come out of Buhari leadership

Ahh, tank God ooooo

i swear this has put me down since i heard about it yesterday, ahh if dem no suspend it how wil i survive it wen my oga finally release me biko?? abeg make dem kansu am biko!!

JONNYSPUTE:
.. Exavtly. They should also consider people running petrol stations and gas plants because they always transact in cash.

Does individual transaction exceed N500000? People are commenting anyhow.

docadams:


Does individual transaction exceed N500000? People are commenting anyhow.

yea oga, sometimes we do 5M at a go... not dat we re nt wise or ignorant of e-banking but it won work mos of tyms in our case.

They told us that “Nigeria is not yet ready for e-voting”. But “Nigeria is ready to implement cashless policy nationwide”. Government stealing from her people

Hmmmm

Why won't they suspend it when it affect their interest. The house of representatives is only existing to serve itself and not the public