Ahead of the release of the newly redesigned Naira notes, the Central Bank of Nigeria (CBN) has made good its warning that it will greatly restrict the use of cash in the Nigerian economy going forward as it placed a N20,000 daily withdrawal limit on individual accounts and N50,000 limit on over the counter third party cheques.

CBN governor, Godwin Emefiele, had prior to announcing the redesigning of the naira mentioned plans to ensure that the Nigeran economy goes 100 per cent cashless.

In canvassing for the redesigning of the N200, N500 and N1,000 notes, he had also mentioned that the higher denominated notes will be used as only a store of value as only more of the lower notes will be in circulation.

https://twitter.com/Bloglord1/status/1600176748301148160?s=20&t=L2qGll0nUlPw5I65gKrKSg

Nonsense

Using an international standard to package the shameful national standard.

Cashless policy in a country that doesn't have adequate energy supply and sustainable internet connection for the gadgets that make cashless economy possible. Cashless policy in a country where money at hand is safer than money at bank.

More limitation for Nigerians


https://www.youtube.com/watch?v=L79n0tr9fWs