Such a person is a crook and must be treated as such

*Almost all corruption and criminality in Nigeria happen in cash

* kidnappers collect cash

* Armed robbers collect cash

* Criminal elements collect bribe in cash

* Criminal public and civil servants are able to steal and divert public funds if they have access to them in cash

* politicians buy votes in cash

In fact 90% Nigeria security and corruption problems will be solved if cash transactions is completely done away with

The advantage of these policy outwit the disadvantage, but political affiliate as becloud most people sincere opinion...
I.O.T

o

I don't want peace I want problem always!!!

You are joking right? Or you are not a business man.
Only today more than 60k has left my account and today has not ended.

So you expect my hard earned money to be in one idiot bank so my money can be used for forex on behalf of federal government?

God forbid! Only fools will not see beyond the smoke screen.

Rubbish policy!

Felimax:
You are joking right? Or you are not a business man.
Only today more than 60k has left my account and today has not ended.

So you expect my hard earned money to be in one idiot bank so my money can be used for forex on behalf of federal government?

God forbid! Only fools will not see beyond the smoke screen.

Rubbish policy!

How does the policy affect 60k leaving your account??

The CBN is simply saying you should make your payments and transact your business by transfer through the banking app or USSD. There are no limits to what you want to transfer.

Amacaco:
The CBN is simply saying you should make your payments and transact your business by transfer through the banking app or USSD. There are no limits to what you want to transfer.

Exactly.

Anyone who is not a crook can always find a way to do their transactions

kingsways:


How does the policy affect 60k leaving your account??

Like seriously! Are you asking me that?
I do most of my withdrawal via the ATM and I don't like a situation whereby government who doesn't add anything of value to my business will now be telling how to go about spending my money. I don't like the benchmark.

I strongly feel so people will be financially restricted so to enable them use our hard earned money for Forex. The policy is Satanic.

The moment they said they want to redesign the naira I knew something was seriously fishing as it is normal with government policy.

Felimax:
You are joking right? Or you are not a business man.
Only today more than 60k has left my account and today has not ended.

So you expect my hard earned money to be in one idiot bank so my money can be used for forex on behalf of federal government?

God forbid! Only fools will not see beyond the smoke screen.

Rubbish policy!

Lack of education is really affecting you. Is not late yet , you can buy part-time form and start so your children won't be embarrassed in the future because of your ignorance

Felimax:
You are joking right? Or you are not a business man.
Only today more than 60k has left my account and today has not ended.

So you expect my hard earned money to be in one idiot bank so my money can be used for forex on behalf of federal government?

God forbid! Only fools will not see
Rubbish policy!

Your problem is that you have a weak cognitive comprehension of the policy. How does it affect 60k leaving your account?. It doesn’t sound intelligent. Only someone with a criminal tendency will object this laudable initiative.

Felimax:


Like seriously! Are you asking me that?
I do most of my withdrawal via the ATM and I don't like a situation whereby government who doesn't add anything of value to my business will now be telling how to go about spending my money. I don't like the benchmark.

I strongly feel so people will be financially restricted so to enable them use our hard earned money for Forex. The policy is Satanic.

The moment they said they want to redesign the naira I knew something was seriously fishing as it is normal with government policy.

You sound illiterate and foolish

seunowa:

Your problem is that you have a weak cognitive comprehension of the policy. How does it affect 60k leaving your account?. It doesn’t sound intelligent. Only someone with a criminal tendency will object this laudable initiative.

You sound extreme. Not every one raising objections is criminal or has criminal tendency
Not all Nigerians have banks accounts of those that do a large number are not literate and many Nigerians live in rural areas with no access to the technology
Cashless policy is good but considering challenges like electricity , network and so on it does not seem realistic for the most of our people but it is something we should aim for
How many Nigerians have smart phones or internet access. A very large number do not
Also how did they arrive at the figure which they set as limit
I think we will find that it may lead to shrinking in economic activity

Not everybody my brother. The policy is going to have an untoward effect on the lives of citizens. However, I want the policy to stay till after the election.

Chinjo2:
Not everybody my brother. The policy is going to have an untoward effect on the lives of citizens. However, I want the policy to stay till after the election.

My brother what you need is to have money in your bank account, you do not need to have cash to do anything you want to do.

kingsways:
Such a person is a crook and must be treated as such

*Almost all corruption and criminality in Nigeria happen in cash

* kidnappers collect cash

* Armed robbers collect cash

* Criminal elements collect bribe in cash

* Criminal public and civil servants are able to steal and divert public funds if they have access to them in cash

* politicians buy votes in cash

In fact 90% Nigeria security and corruption problems will be solved if cash transactions is completely done away with

Only a poor person or a young person still being spoonfed thinks there's nothing wrong with a N100,000 weekly cash withdrawal limit in a country where possibly over 80% of transactions are still done in cash. You don't get born and just start running; Nigeria isn't ripe yet for such extreme cashless policy. In a typical week, money spent on tranportation, feeding, tipping the ever hailing securiy men at estate gates or restaurant doors and many more mushroom transactions can easily add up to over N100k; many people dont even have bank accounts in Nigeria. So to wake up one morning and arbitrarily fix a N100,000 limit in a whole week? Whoever came up with such policy must be on some hard drugs.

kingsways:
Such a person is a crook and must be treated as such

*Almost all corruption and criminality in Nigeria happen in cash

* kidnappers collect cash

* Armed robbers collect cash

* Criminal elements collect bribe in cash

* Criminal public and civil servants are able to steal and divert public funds if they have access to them in cash

* politicians buy votes in cash

In fact 90% Nigeria security and corruption problems will be solved if cash transactions is completely done away with

Bro start thinking straight,
Am sure you are still being fed by your parents or youre not a business type, quote me

Apart from reinforcing the cashless policy, this will also curb inflation. The less the cash, the less the demand for goods which will bring about a price decrease. The economy will be affected temporarily but it's for the greater good. Relying on interest rate increase alone won't have a significant effect in the fight against inflation.

obailala:

Only a poor person or a young person still being spoonfed thinks there's nothing wrong with a N100,000 weekly cash withdrawal limit in a country where possibly over 80% of transactions are still done in cash. You don't get born and just start running; Nigeria isn't ripe yet for such extreme cashless policy. In a typical week, money spent on tranportation, feeding, tipping the ever hailing securiy men at estate gates or restaurant doors and many more mushroom transactions can easily add up to over N100k; many people dont even have bank accounts in Nigeria. So to wake up one morning and arbitrarily fix a N100,000 limit in a whole week? Whoever came up with such policy must be on some hard drugs.

If you don't have bank account, then you have nothing to worry about. Enough cash was printed to cushion the effect of covid which brought about astronomical rise in the price of goods and services all over the country. There is no other way to remedy it than to withdraw most of those cash from society through these policies. Everybody should be ready to pay the sacrifice. I support fed on this one..

omonnakoda:
You sound extreme. Not every one raising objections is criminal or has criminal tendency
Not all Nigerians have banks accounts of those that do a large number are not literate and many Nigerians live in rural areas with no access to the technology
Cashless policy is good but considering challenges like electricity , network and so on it does not seem realistic for the most of our people but it is something we should aim for
How many Nigerians have smart phones or internet access. A very large number do not
Also how did they arrive at the figure which they set as limit
I think we will find that it may lead to shrinking in economic activity

those who don’t have bank account probably don’t deal in such amount that can cause inflation or security breach, so far you are transacting above 50k you must have bank account

Opolopoopolonio:


Are you a dullarrrd

I withdrew 40k from the ATM at once on Saturday and spent almost all of it on grocery shopping! And I had some thousands on me before the withdrawal o. So how can anybody against the 20k ATM daily withdrawal limit like me be a crook

I think is it's broke asss luuunatics with next to nothing in their account that are in support of this satanic policy.

So is there anything stopping you from paying for your groceries with bank transfer or POS?

Opolopoopolonio:


I didn't shop in a supermarket and I didn't buy all my stuffs in one place!!!

Not a problem, whenever or wherever you shop, use bank transfer or POS to pay.

Exactly. If 80% of transactions are done through banks it will be easier to track movement of monies and criminals and reduce it drastically

Opolopoopolonio:


To pay for pepper yam potato rice beans

Come on, be reasonable!

Yes bank transfer or POS will work for whatever you buy, even Suya

obailala:

Only a poor person or a young person still being spoonfed thinks there's nothing wrong with a N100,000 weekly cash withdrawal limit in a country where possibly over [/b]80% of transactions are still done in cash.[b] You don't get born and just start running; Nigeria isn't ripe yet for such extreme cashless policy. In a typical week, money spent on tranportation, feeding, tipping the ever hailing securiy men at estate gates or restaurant doors and many more mushroom transactions can easily add up to over N100k; many people dont even have bank accounts in Nigeria. So to wake up one morning and arbitrarily fix a N100,000 limit in a whole week? Whoever came up with such policy must be on some hard drugs.

The bolded is what the policy aims at reducing significantly.It is up to that because the window to make it happen is still widely made open until this policy.If the policy is strictly implemented I bet people will get used to it and those rejecting it would have no options than to embrace it.In my view,the policy has its Disadvantages but the Advantages far outweigh the Disadvantages

yemex04:

The bolded is what the policy aims at reducing significantly.It is up to that because the window to make it happen is still widely made open until this policy.If the policy is strictly implemented I bet people will get used to it and those rejecting it would have no options than to embrace it.In my view,the policy has its Disadvantages but the Advantages far outweigh the Disadvantages

The issue is that you don't just get born today and start running immediately; Nigeria barely has the basic systems in place to support cashlessness.