GeneralDae:

Yes that's what I'm saying.

Good. So can you now answer this question.

When buhari came in 2015, he made BVN compulsory threatening to block bank accounts without BVN. His justification was that it would be used to stop 419, corruption and kidnapping. Years later, thru patanmi they made NIN compulsory threatening to block phone lines. Justification? NIN will be used to stop 419, corruption and kidnappings.

Pls which of these objectives mentioned above have been achieved so far?

GeneralDae:

Yes that's what I'm saying. This is the final blow to the problem of kidnapping because with the BVN/NIN combined with cashless policy, the terrorists cannot avoid Banks and would fear that they would be traced.

Who made cashless policy the "final blow to the problem of kidnapping"? Can you show me any statement made by the government that supports your claim of cashless policy being the "final blow"?

If cashless policy is the "final blow to the problem of kidnapping", that means there have been other "blows"?

What are the previous blows and what impact did the previous blows have on the problem of kidnapping?

GeneralDae:

Yes that's what I'm saying. This is the final blow to the problem of kidnapping because with the BVN/NIN combined with cashless policy, the terrorists cannot avoid Banks and would fear that they would be traced.

Are you saying that buhari failed in realising the objective of using NIN/BVN to stop 419, kidnapping and corruption?

Not an all inclusive policy that was deeply thought of.

It will make Nigerians in African countries be on 'queues' to get Naira after they do e- transfers to the 'service man' who is just helping out as students and traders may need that cash at some point.

In Nigeria, POS machines( without commissions deducted from Nigerian patronizing them) should be given to petty traders etc at free or cheap prices so people can buy anything using their cards.

Loaded cards should be available to Nigerians / foreign tourists who have long visited Nigeria or just visiting Nigeria, who may probably not have a bank account with bvn/ NIN... These mobile cards can be free or cheap to get from POS shops

The policy is half baked bread. The CBN knows dey have this ideas and have continued to devalued the Naira to be worthless as a tissue paper. The govt herself has eroded our per capita purchasing power. Stagflation is there. We can still manage the issues of bottle neck at ATM machine, POS stables and Ussd unremarkable disappointment and fluctuating network issues.
My grouse is how do we create unnecessary problems for the citizens. Imagine two peoples in the person of Emefiele and Buhari deciding for 200Mi peoples. Albeit, playing a devils advocate, why not subject it to a stress test either under public opinion or a debate at national assembly for pros and cons. And we the citizens and the promoters will benefit from inputs and use it to make an informed decision.
One of the good reasons canvas so far is that it can curb the menace of kidnapping industry -granted. Many of its attendant consequences are also glaring, imagine buying a liter of petrol at N300 and u plan to embark on an interstate journey that will require a full tank. Am just laughing, as we all know the results.
My conclusion is this policy is a black cloud. Apart from curbing vote buying, and with my little experience of Nigeria, all politicians engage in this malfeasance, The two decisions maker here are doing a mopping job for an unfathomable financial recklessness. This is what IMO believes this policy is to fix. No national interest in it. I will not be surprised to hear date shifting, financial turmoil etc etc. NIN readily comes to mind. Inec registration readily serve as an example including unnecessary SIM registration that they propose to cure crime and kidnapping. My take. Too much sense no go injure me.

ken6488:
that a lie anyone getting 100k above can easily get an android device

Things are changing every day

what are you even saying? An aged woman using an Android phone? Besides, my neighbor is a millionaire but he doesn't have an Android phone

IbeOkehie:


One area where the dynamic is manifest in economics. In every country, the very rich are by definition a MINORITY. No surprise that the MAJORITY always vote to tax the rich and redistribute their wealth.

A possible solution would be to a Constitutional Flat Tax or laws that restrict voting to those who are willing to pay the highest tax rate. It's an interesting problem. This is a very interesting topic much as many will insist democracy is the best among bad systems.

This will be met with alot of opposition as it will be undemocratic to restrict a percentage of the population from voting. However you have a good point.

pinkasso:
You have said it all., critical thinking don finish for the country, imagine trying to grow and economy where millions of SME businesses still rely on CASH transactions and you roll out this kind of policy??..I'm speechless..this CBN guys will not stop until they damage SME's finish. In one economy you are increasing interest rate, re-designing the naira and put restrictions on cash withdrawal but during election them go they share money everywhere.

Honestly the laws do not apply to the elite in this country. Remember when some politician's kids sprayed and walked on naira notes in a club and posted it on social media.

The new CBN cashless policy is a clear violation of your right to earn and spend your money. No one should dictate to you how you should spend your money and the amount to spend since it is your money. But then this is Nigeria were it seem anything goes under Buhari's government. I've read reactions of Nigerians and listened to some government officials applaud the CBN cash withdrawal policy as a good one and I wonder on what premise is it good to violate people's right to access and spend cash?

Many people are saying that this new policy will combat vote buying in the next election and insecurity. I laugh because the last time I checked it is not CBN's job to combat vote buying or insecurity. One will ask what is the job of INEC, EFCC, ICPC, Police and our other security outfits? (The CBN is not INEC neither is it a department of the Nigerian police force)

How can CBN under the leadership of Emefiele implement such an intrusive policy without consulting with Nigerians and without the input of the national assembly?

Nigerians should reject this evil policy and urge the national assembly to reverse it. This policy will only benefit the banks (Charge more transaction fees and implement predatory policies), the ruling party (APC) and Emefiele the CBN governor (It was revealed in 2021 that Emefiele registered as an APC member).

The CBN cashless policy is bad for Nigeria and will hurt the economy. If you want to know more see why CBN Cashless Policy Is Bad For Nigeria here -
https://www.nairaland.com/7474034/why-cbn-cashless-policy-bad

theophorus:
Yeye comparison.

Abeg we in 2022, anyone still interested in carrying Millions of cash should be arrested.

Do you know how many Nigerians have hundreds of thousands in cash at home?

Abeg, 100k cash is enough for a week, any other transaction should be online.

Na those bank charges make them Reduce.

The bad side of these is that any evil doer be it the police, kidnappers, one chance for money, or even ordinary agberos can corner or waylay someone and tell d person at gun point to make forceful transfers to a said account, since they can now assume that everybody does transfer.........

The excuse pple use to save themselves and their money before that they don't do transfer will not be acknowledged.......

A bad gang can go to a night club and under duress or at gun point tell everyone present to make transfers..........

Moving with android phones and iphones that can transfer higher limits of cash since it has the capabilities of hosting/running multiple bank apps now will be worrisome.........

P
eople with such phones should have a Nokia torch phone to flaunt around to cover such misfortune in which if such negative occurrence occurs one will only part with very little cash by only doing transfer through USSD........

Penultimately, anyone in possession of android phones or iphones should delete their bank apps when stepping out and install on the spot from playstore whenever they want to make such transfers or use apps that can hide those bank apps (with password security) from ur phones general apps that can be viewed by others, thus saving urself from huge transfers and you having to only do little through USSD on same phones.........

Finally, thinking negatively it saves the robbers running from a robbed house with cash, since they can walk majestically out like visitors, even if you hold them, there is no evidence they robbed you as the account the monies may have been transferred to may be that of an accomplice who is not with the gang that only needed a call from his fellow gang members to confirm the money dropped in his preferred account and he may have used such monies to buy gift cards, cryptocurrency, or online shopping, or transfer such money to an online shopping bank account or kuda bank the money.....

Every tech or innovation has its bad side, pple account can be hacked easily since most banking information, and more customers bank information will be online......password your SIM cards with ur pin it helps for those whose siim cards got lost and their accounts got wiped clean like an ass.........also when you use a POS machine be it by inserting ur ATM or whatever always press the big RED CANCEL button on the POS to clear ur information if not ur details will be copied and ur account wiped clean like an onion booty...

I want to get it straight, if I want to buy crayfish 100 naira, I have to do transfer?

CheapHomes1:


Good. So can you now answer this question.

When buhari came in 2015, he made BVN compulsory threatening to block bank accounts without BVN. His justification was that it would be used to stop 419, corruption and kidnapping. Years later, thru patanmi they made NIN compulsory threatening to block phone lines. Justification? NIN will be used to stop 419, corruption and kidnappings.

Pls which of these objectives mentioned above have been achieved so far?

Pantami's son got kidnapped and he was released near a police/ army checkpoint when he had fully paid the ransom.......the news is on Google, google it.....

The bvn and NIN that was not used to track and end Boko Haram is what they / he PANT ......... Amin wants to use to deplete 419?.......

Instead, it exacerbated or snowballed crime in that those BVN/NIN informations are now used by fraudsters to wipe people's bank account and most bank staff's today are culpable in aiding and abetting such crimes.....

Fastlinkpro:
I want to get it straight, if I want to buy crayfish 100 naira, I have to do transfer?

USSD please......

Just joking u can withdraw and use cash, but there is a great limit to the cash you can withdraw........daily limits too will also suffice.......

CheapHomes1:


Who made cashless policy the "final blow to the problem of kidnapping"? Can you show me any statement made by the government that supports your claim of cashless policy being the "final blow"?

If cashless policy is the "final blow to the problem of kidnapping", that means there have been other "blows"?

What are the previous blows and what impact did the previous blows have on the problem of kidnapping?

Guy you speak like a kidnapper, kidnap apologist, or a kidnap victim that has or had suffered a lot of blows.........

Am very curious to which one you are..........

aimmoney9:

Guy you speak like a kidnapper, kidnap apologist, or a kidnap victim that has or had suffered a lot of blows.........

Am very curious to which one you are..........

am your apprentice in the crimes you listed above

Banks here still dey dispense old notes sha

Jimmythewise:
Democracy is the greatest sin against mankind. Once the number of fools outnumber the intelligent, boom you have a catastrophic environment to live in.

A pity I can't like this a million times.

necessity is the mother of invention

Kutunban:
Intelligent move by the CBN, however, Most rural farmers and traders can't even make transfer with USSD, they deal with Cash, especially the livestock market in core north of Nigeria. Most banks have network issues especially weekends. How does the government intend to manage such? Our technology is not vast like that of India. It's really going to be challenging.

You have a point, but, I would say that allowing every Tom, Dick and Harry that is 18+ to vote is where democracy lost it.

Jimmythewise:
Democracy is the greatest sin against mankind. Once the number of fools outnumber the intelligent, boom you have a catastrophic environment to live in.

Use standard chartered bank, they don't charge for transactions or even SMS alerts

theophorus:
Yeye comparison.

Abeg we in 2022, anyone still interested in carrying Millions of cash should be arrested.

Do you know how many Nigerians have hundreds of thousands in cash at home?

Abeg, 100k cash is enough for a week, any other transaction should be online.

Na those bank charges make them Reduce.

angelfallz:
You have a point, but, I would say that allowing every Tom, Dick and Harry that is 18+ to vote is where democracy lost it.

we are both saying thesame thing

One advantage I know is no more ransom demand for kidnappers.
Unless you want transfer of cash which can be used to trace the transaction.

Hinder economy?
If the person I wan buy shoe from is not ready to take transfer na to just Waka go another shop shikena!

CheapHomes1:


am your apprentice in the crimes you listed above

I am not involved in crimes, you know your shifu, run to him, I can never acknowledge you, light and darkness cannot move together........

aimmoney9:

I am not involved in crimes, you know your shifu, run to him, I can never acknowledge you, light and darkness cannot move together........

But you said I speak like a kidnapper. How do you know how a kidnapper speaks like?

formular2002:

Go to the UK, highest note u see in people's wallet is £50 and it's for unforeseen circumstances.

Try and convert 50 pounds to naira and revise your post accordingly.

We can't compare cost of living in these countries. Remember that minimum wage in the UK is 9.5GBP/hour.

Seun:
Try and convert 50 pounds to naira and revise your post accordingly.

GeneralDae:

Those women at oil mill should have bank accounts so that they can be taxed.

very funny!!!

Ventura1:
CBN have been implementing Cashless policy in phases since 2011, those traders are raining those curses out of ignorance, it will not work.
Same manner people were complaining at the advent of ATM, no time people will be ready, imposition and enforcement is needed.

okay!!!

What of those in the village? Where the don't have a network?

I will keep my dollars till next month end, Naira will weaken further...

Forward ever