Olam09:


Why don't you make use of internet or ussd banking?? But we no experience cash shortage here sha.

Where was your area. Stanbic too couldn't pay more than 100k.

dazzlingd:
We can do without large cash transactions.
What exactly do we need cash for?
When talking of cash I'm not speaking of 100k or 50k
I'm talking of 1Million 500k and all

You have a point! And most app transaction limits of such account owners are usually big enough for such cash demand.

iwaeda:
First time in my adult life, First Bank couldn't pay 500k across counter

. Buhari has borrowed all the money?

iwaeda:


You need cash to settle people.

And that's why the cbn is mopping out cash out of the system because apart from PoS business, cash of large volume is not needed for legal businesses other than corruption and bribery, terrorism financing and other illegal transactions.
This cash scarcity has come to stay

dazzlingd:


And that's why the cbn is mopping out cash out of the system because apart from PoS business, cash of large volume is not needed for legal businesses other than corruption and bribery, terrorism financing and other illegal transactions.
This cash scarcity has come to stay

We still need cash, if you travel to my area in Kwara, no bank in Oro, Ajase, not sure of Omu-Aran to Egbe

Ijaya123:
Gtb is the worst, especially on Fridays.

POS operators are also not helping matters. I suspect the banks are conniving with them by supplying them cash. ATM will not have cash but POS always do.

It has always been so

Ijaya123:
Gtb is the worst, especially on Fridays.

POS operators are also not helping matters. I suspect the banks are conniving with them by supplying them cash. ATM will not have cash but POS always do.

No! POS agents don't have time for banks, they get their cash at some fuel stations, super markets, shops etc. It's very simple, Oga/Madam give me cash lemme transfer to you. It also helps the owners of these businesses as they won't have time to go and deposit with cue at the bank. That's why money is scarce, most people don't go to the bank to make deposit, POS is there

Munzy14:

Someone above said he/she went to withdraw 500k OTC...Like in this age??

Transaction above 20k I won't give you cash...If you don't accept transfer or card payment, It is Aurevoir!.
So is it 19k that will make me stand on a long bank queue while observing the Covid stuffs associated with bank? Not me...POS agent must chop small...After all we rise by lifting others.

Time is money...It takes deeper reasoning to understand that.

Throughout 2021 I made use of ATM withdrawal twice...One around Easter and sometimes in August...I even made a post about that on whatsaap, and my friends laughed over it.

Some bank apps even permits upto 5million naira per day.

Some of us doing OTC withdrawal use it to run cash business too, it's not like we are keeping the cash idle under bed.
I run a POS business, i discovered that some of us gets cash base on who you sabi inside bank while some are unable to. The day i went to the bank and i was turned down, a lady left ahead of me with fund obviously more than what they intend to give me.
At the entrance to one of the banks in my area, the bank is even having an official POS stand, yet the ATMs of this bank wasn't dispensing except for a machine out of 6.

The cash is with the DOT nation believe it or not until after axmas and newyr then the Igbos will release it to the banks we are the real business men now the zombies will wail

iwaeda:


Where was your area. Stanbic too couldn't pay more than 100k.

Lagos, ikeja

There was no cash in the bank because bank prefers to give POS operators cash than to load in ATM machines or give to customers via counter. This because
1. Banks have discovered that they make more profits through POS transactions than ATM.
2. Some bankers are the owners of the POS hence they give money they are supposed to load ATM with to their workers (POS operators) so that their business can boom.
3. Some POS operators do influence some bank staffs to reserve money for them and then give them commissions.

iHart:
This is artificial shortage engineered to make people switch to enaira

You're a wise person!

tutudesz:
All of a sudden Bank hardly have cash from 8am to 2pm but POS will always have cash and most bankers have boys/girls doing POS

Technically, this can't be responsible for cash shortages. Bank branches are supposed to request for cash (from hub) if they're running low. Cash flow is controlled by CBN.

olisefom:


Technically, this can't be responsible for cash shortages. Bank branches are supposed to request for cash (from hub) if they're running low. Cash flow is controlled by CBN.

Speaking out of experience Gt customers in Gowon estate confronted the manager after we discovered POS operators withdrawing money when they said there was no money.

Vinnie2000:



Where is the VultureGriller?

Let him come an explain why him Papa wan kill us Kpatakpata for this country..

Why must you leave your life in the stone age. Must you use cash? Or are you not aware of other alternatives. Wailer. Just find anything and wail on it

iwaeda:
Hope is not what I am thinking, Lalasticlala?

Election things abi?

And na only Union bank dey pay here..

I didn't experience shortage of cash in my bank before and after Christmas.

It's a deliberate, indirect attempt to present digital money as the most sustainable form of exchange.... remember the Enaira idea. Cashless credit economy.., it's in progress.

Sometime in December 2021, I was at the banking hall of First Bank , PTI Road for transaction of above 100k, but the teller told me that due to shortage of fund, I can't withdraw the said amount of money.
Today , I was at the same bank ATM gallery, for more than an hour between 9 am to 10 am, no ATM was dispensing money.( There is about 8 ATMs there). It was about 10:05am some of the machines started to dispense cash.
To add insult to injury, the First Bank staff( a chubby dark skinned lady, wore black gown today) who loaded the money into the ATMs opened her mouth to say that those waiting at the ATM gallery should use transfer for their transactions.
If she chop craze, make she go Effurun market to buy foodstuff sey na transfer she wan use take pay.
NOTE: The ATMs at Zenith Bank, neighbouring bank to First Bank at PTI Road, Effurun were not still dispensing at the aforementioned time duration.
CBN really need to review their policy,it is anti-Nigerians.

VMuna:


You're a wise person!

ENaira is cool, but the infrastructures on ground doesn't support a 100% execution of it.
Hybrid of ENaira and Physical Naira is what is tenable as at now.

nigerians should brace themselves oo. as for me i thanks God for the past 6 months i have not entered a banking hall. The delay there can make a person lose his cool. Nigeria is truly the worst place to give birth to a child- billgates

Munzy14:
We've been advised to go cashless, but some people still want to act Ignorance of such policy...

I didn't witness this in Owerri though.

Can't even remember last time I used bank ATM or OTC transactions.

Your money is chicken change, that is why you are not feeling it.

Let them print more money nah, after all Naira no even get value again.

blame Coro for this

tutudesz:

Speaking out of experience Gt customers in Gowon estate confronted the manager after we discovered POS operators withdrawing money when they said there was no money.

They're both loyal to you and those their Agents. When they say "we are going on holiday but you can reach us via our alternative channels, agents are one of the alternative channels "

tutudesz:
All of a sudden Bank hardly have cash from 8am to 2pm but POS will always have cash and most bankers have boys/girls doing POS

We abuse everything in this country.

OlujobaSamuel:

Some of us doing OTC withdrawal use it to run cash business too, it's not like we are keeping the cash idle under bed.
I run a POS business, i discovered that some of us gets cash base on who you sabi inside bank while some are unable to. The day i went to the bank and i was turned down, a lady left ahead of me with fund obviously more than what they intend to give me.
At the entrance to one of the banks in my area, the bank is even having an official POS stand, yet the ATMs of this bank wasn't dispensing except for a machine out of 6.

We only excuse POS agents...Because they have replaced our banking sytsem of the old.

Trumann:


Your money is chicken change, that is why you are not feeling it.

Dangote..

Give me Elephant change na..Akpa-Amu..

Nairaland billionaires sef.

post=109080390:

They should fixed whatever is the problem between now and January 15th,
Or else..........

People should explore the ENaira. Transfer money into your Enaira wallet and us it to do transaction. You don’t have to carry physical cash when you can do transaction with Enaira