The policy might be good at the long run if the critical economy issues has been fully addressed and achieved, but a lots of financial inappropriateness, mismanagements , colossal borrowings from IMF and other sources without proper accountability has lead to the entire situation we all find ourselves.
This present administration under Buhari has completely messed up the country. The over ₦42.8 trillions debts it owns will now be serviced by the average Nigeria masses suffering on the streets.
This policy should never be accepted in fact, it should be thrown out immediately. Policy that do not have consideration for the masses is not acceptable.

oshozondii:


https://community.thenationonlineng.net/forum/breaking-house-of-reps-orders-cbn-to-suspend-new-cash-withdrawal-?xg_source=twitter

WHY WHY WHY WHY WHY WHY WHY?

You cannot pay local daily transport fare with transfer.
Transport unions do cash collections daily in excess of N....m in Lagos alone.
So for some people presumed to be the target of this policy to raise cash is actually very possible.

And CBN never said you could not withdraw above the threshold, they only said you will be charged or you will be required to fill some forms.

Opolopoopolonio:
Great!

Piggiiddioootts will cheer any policy that can eventually 'kill' them as long as they percieve it's against Tinubu...

Pathetic things!!

You are as useless as your name

StrongAlphMale:
thebosstrevor1 and TechW go and explain that thrash you just did to the senators and see if you will not be jail.

I told you that CBN cashless policy is a useless one and will crumble so many businesses and lives of Nigeria

You want to tell me that senators are the most intelligent among us?
Besides, they will be the worst hit as the policy will reduce curruption.

victooman:
how do u guys even think upside down like this? u think Nigeria starts and end in Abuja or lagos? l served in a village called mutbumbo in jos plateau state,, this village is occupy by thousands of agrarians farmers who cultivate the very food u put in ur mouth, the distance between that village to panshi were bank is located can take up a transport fare of 4k-5k Network to even make call is a big problem there and 95 percent of the occupants in that village are stark
illiterate,, business men travel to those villages with cash and purchase food in large quantity,,how on Earth will those people corp with this transfer bullshit?

I gree with your submission 100%. Proper consideration is necessary.

GboyegaD:


What is the withdrawal limit in Canada and USA and what is the global currency they are promoting? I need to read about this as it is very urgent.

There is currently legislation in the parliament in Netherlands to restrict all cash spending to 50 euros. Indonesia plans to make the e-Rupee the only legal tender in the country next year. In Sweden, you are charged a fee for any cash-based payment. If you are a business, you can only deposit money at specific days and at special collection centres, else you would be fined. In China, mobile apps are the mode of payment.

It is spreading quietly.

oshozondii:


https://community.thenationonlineng.net/forum/breaking-house-of-reps-orders-cbn-to-suspend-new-cash-withdrawal-?xg_source=twitter

When you see these idiots talk ,you will think it's actually the masses they are fighting for.

BeardGangJnr1:

No one is disputing that,
Imagine I'm supposed to pay school fees of let say 120k via remitta
And I need to print receipt and other stuff... which is provided in the bank....tell me how will that be possible

Very senseless policy.
The government should go and address the critical issues facing the country first and all these wicked distractions.

But why do people need large volumes of cash? The idea behind is to encourage people to transact without cash as well as make all large volume transactions traceable.

These people are not fighting for poor people who dont even have that kind of money to be withdrawing everyday. This policy will make it difficult to throw cash around during elections and CBN should stand their ground.

Legislators should look into other areas to truly make the life if poor people easier.

dawnomike:
I agree to the fact that it will affect we Nigerians. But, it should not be reversed till after the election

No it won’t, there is cashless transactions

Until ur father stop's taking drug's then u can place an advise, mumu, ozwor, what difference does it make pending it 20k or 50k? Ur foolishness stinks

Mrfixiit:
Nigeria is really filled many lunatics. In your understanding 20k and 50k are the same right ? Stop taking drugs before it messes you up big time

Most illiterate and some people living in the interiors are not even using the banking system prior to these cbn policies. They transact most of the business with physical cash which are mostly in small cash quantity. No individual buy 20k salt for households consumption and if you believe that won't be enough you can withdraw 100k for the full week and 400k for a month at the rate 100k per week for individual just through atm o , no limit to transfers . Which village residence spend 400k monthly even with our current inflation? And if you are an individual dwelling in the village no pos operator can give you that much or you may not be able to chest the charges therefore you will definitely need to travel to a neighbouring town to use an atm to transfer and also withdraw some cash . There's nothing wrong with the policy. Let use it first and see if it can correct the economy and if it doesn't you can now criticise it.

victooman:
how do u guys even think upside down like this? u think Nigeria starts and end in Abuja or lagos? l served in a village called mutbumbo in jos plateau state,, this village is occupy by thousands of agrarians farmers who cultivate the very food u put in ur mouth, the distance between that village to panshi were bank is located can take up a transport fare of 4k-5k Network to even make call is a big problem there and 95 percent of the occupants in that village are stark illiterate,, business men travel to those villages with cash and purchase food in large quantity,,how on Earth will those people corp with this transfer bullshit?

non can do, so if u take a week or more to stash some cash to prep for the big purchase will cost u ur arm right? Last i checked wholesalers and retailer engage in what we call group purchase which in turn will get a large goods delivered to them and ones delivered they all share it.

PotatoSalad:

You're an overgrown idiot.
Please face your religion and leave financial matters for the experts.
Abi when it's enforced, you'd stick to cowries and trade by barter?
Don't be foolish

Take caution......

oshozondii:


https://community.thenationonlineng.net/forum/breaking-house-of-reps-orders-cbn-to-suspend-new-cash-withdrawal-?xg_source=twitter

Yeye country with headless figure. Where on earth will a CBN governor makes such idiosyncratic policy. SPITS....!

oshozondii:


https://community.thenationonlineng.net/forum/breaking-house-of-reps-orders-cbn-to-suspend-new-cash-withdrawal-?xg_source=twitter

We are saying there is no jobs , senseless apc government and mumu CBN is killing the small business youth's are doing, how will POS business survive with this type of wicked CBN policy, so many businesses will die, this government should just get out government aso rock immediately, we are tired of their nonsense, come 2023 obi will take over to restore sanity in governance, madness is apc government very clueless and stupid senseless policy

So now, the reps have remembered 'poor' Nigerians! Shior.

Who does not know that their stock in trade is to share cash here and there!

PMB got this one right.

Oga! Use your card for higher transaction or use ur internet banking, both have no limitation to amount u can transact. Every good policies are always countered by we citizen and we still clamor for better governance. In a sane country, u cant hold more than #20000 of their currency

Mrfixiit:
20k withdrawal limit is too small. 50k should have been better

Donpenny:
Most illiterate and some people living in the interiors are not even using the banking system prior to these cbn policies. They transact most of the business with physical cash which are mostly in small cash quantity. No individual buy 20k salt for households consumption and if you believe that won't be enough you can withdraw 100k for the full week and 400k for a month at the rate 100k per week for individual just through atm o , no limit to transfers . Which village residence spend 400k monthly even with our current inflation? And if you are an individual dwelling in the village no pos operator can give you that much or you may not be able to chest the charges therefore you will definitely need to travel to a neighbouring town to use an atm to transfer and also withdraw some cash . There's nothing wrong with the policy. Let use it first and see if it can correct the economy and if it doesn't you can now criticise it.

Apt.
In those villages and small towns you hardly have anyone with 20k cash. They dont have ATMs anyway, so how does small ATM cash withdrawal affect them? For those who are educated and capable, use e-channels and for their relatives, use the cash limit to take care of loved ones in the village. Cash is going out in some countries.

FrancescoFarino:
Litters will like this new development

You know nothing about banking sector and I can tell you if you have been frustrated by the bank network while facilitate transaction, you won't be saying this....

olaeffect:
You cannot pay local daily transport fare with transfer.
Transport unions do cash collections daily in excess of N....m in Lagos alone.
So for some people presumed to be the target of this policy to raise cash is actually very possible.

And CBN never said you could not withdraw above the threshold, they only said you will be charged or you will be required to fill some forms.

Paying local transport fare of 1k and 500 and paying the groundnut seller on the road 200 naira is exactly why we have a daily cash allowance of 20k

In fact, in some countries, you pay the taxi driver, fruit, vegetable and food vendor by transfer. You just scan their codes and transfer.


Jeez, so many supposedly educated people thinking in a very disappointing way.
What exactly do we need cash for? Why carry huge amount of cash about like a thief?

I’ve been to countries where one can survive seamlessly for months without handling cash. Both old and young embrace good policies and their country works for all. But in Nigeria, people keep bringing foolish arguments.

What happens to the POS people. Abeg, where in the world is Pos a bank for withdrawing cash? Only in Nigeria. The POS business niche sprang up because of our huge appetite for carrying cash about which is exactly what the government is trying to correct. They can as well close shop and go think of some other businesses to run.

A two year old naira note when handled would look like rag, it’s embarrassing. But you’ll see dollars and some other foreign currencies of 10 years looking clean.

Every transaction more than 2k should be by transfer and other petty transactions can be settled from the daily 20k. This is more than enough.

What people should be worried about is how to stay safe online, how to help those non-internet compliant and how to make sure banks up their online services. Kapish!

Dee60:


Apt.
In those villages and small towns you hardly have anyone with 20k cash. They dont have ATMs anyway, so how does small ATM cash withdrawal affect them? For those who are educated and capable, use e-channels and for their relatives, use the cash limit to take care of loved ones in the village. Cash is going out in some countries.

Thank you

A whole 20k per day and people are whining.

What exactly does anyone need more than 20k per day cash for? Is it so than they can go spray money at night clubs and abuse the naira the more? Abe na to give an officer bribe? Wetin we need cash of more than 400k per month for?

Petty things can be paid with cash and if payment exceeds 2k, the seller must provide another means for cashless transaction. How hard is this?

Who still listens to this old fools. Mtcheew

It's already biting the absolute melts.

Ko ní dafun gbogbo awọn house of rep .....it will not be well for this people.


So they are planning to rig the election...

Righteousness2:
They know what they are doing.
It's all about the drive towards a Globalist Central bank Digital Currency. (CBDC)
Unfortunately over 70% of Nigerians know little or nothing about these things.

They are testing the ground to see reactions towards a Globalist CBDC.
Over a 100 Nations in the world are test running same right now.
Globalist Great reset/New world Order things.

Very soon it will be Enforced.
If you know you know.

Can you mention some of the nations

Dull dingbat

Bluntguy:
Buhari will soon order the house of reps to keep off. Emefiele is doing everything with his approval and the goal is to stop Tinubu's bullion vans from moving on election day. Peter Obi is our next president.
Urchins argue with your keyboards.

Who makes laws? Olodo

Okoroawusa:
This lawmakers no sabi law o! You can only summon the CBN governor but you can't suspend anything. The CBN is an autonomous entity.

Mrfixiit:
20k withdrawal limit is too small. 50k should have been better

Do you spend 20k cash a day? If yes then do electronic transactions rather than cash transaction.