I wonder why learned people climbed onto the bandwagon of Buhari's spurious so-called "cashless policy" which has brought untold hardship to the masses. Tell me any progressive country in the world where anything called cashless policy was introduced to drive a cashless economy.

Nigerians have been going cashless since 1999 when an Italian introduced valuecard in Nigeria. I saw shops Even in Ibadan here as far back as 2005 carrying the valuecard logo and accepting the smart card. As at then there were 24,000 valuecards in circulation.

Since then Nigeria's cashless economy has been growing. Before now we bought stuff with our atm cards on POS machines. We sent money through digital transfers, subscribed for cable TV via online payment, used ussd to transfer money and so on.

In Africa Nigeria is the largest user of digital money transfer in terms of volume. So if anyone tells you Buhari is trying to build a cashless economy, it's a lie. He has just brought hardship on Nigerians like he did in 1984. Or was that cashless policy as well. In 1984.

Yoruba Muslim

I think there's is more to this cashless policy.

Could it be that our debtors is being paid directly from the citizen money?

There is no any rational explanation for this senseless policy other than using our money to pay those we owed

tsephanyah:
Yoruba Muslim

Please, stay aside, ibo. The topic is beyond your paygrade.

Ttalk:
I think there's is more to this cashless policy.

Could it be that our debtors is being paid directly from the citizen money?

There is no any rational explanation for this senseless policy other than using our money to pay those we owed

I don't think so because even the imf which normally makes things hard for poor countries is against the senseless policy.

You mopped up #3tr from the economy and pushed out #300bn. How's that going to work in a country of largely informal economy?

One of the excuses was that Nigeria had too much money in circulation. Now #3tr is less than $7bn just about 2% of our GDP. Now for comparison, India Even after mopping up a lot of its currency still has about 7% of its GDP as money in circulation, USA has close to 10%. Those are hugely successful partially cashless economies. None of them brought this level of hardship to their citizens. Now old and young are sleeping at bank's ATMs just to withdraw #10,000 cash. Inflation has gone up to 21.80%. By the time this idiotic president and cbn governor are gone, inflation will be close to 25% if care is not taken.

Continue hailing Buhari out of political desperation.

Obaaderemi2:
I wonder why learned people climbed onto the bandwagon of Buhari's spurious so-called "cashless policy" which has brought untold hardship to the masses. Tell me any progressive country in the world where anything called cashless policy was introduced to drive a cashless economy.

Nigerians have been going cashless since 1999 when an Italian introduced valuecard in Nigeria. I saw shops Even in Ibadan here as far back as 2005 carrying the valuecard logo and accepting the smart card. As at then there were 24,000 valuecards in circulation.

Since then Nigeria's cashless economy has been growing. Before now we bought stuff with our atm cards on POS machines. We sent money through digital transfers, subscribed for cable TV via online payment, used ussd to transfer money and so on.

In Africa Nigeria is the largest user of digital money transfer in terms of volume. So if anyone tells you Buhari is trying to build a cashless economy, it's a lie. He has just brought hardship on Nigerians like he did in 1984. Or was that cashless policy as well. In 1984.

You have said it all man

This is Economy sabotage by Buhari and Emefiele.

Economic activities in Nigeria is almost at a standstill right now.


I wander how a Govt will introduce a policy and refuse to be flexible about the policy.

Even if the Government refuse to release the old money in the bank back into circulation, they should have just make all the old notes outside circulation legal tenders till a new Govt takes over on May 29 and decide on what to do.

A policy someone else can get there on May 29 and scrap everything. It does not make sense to me at all.

I do not unserstand the kijd of madness going on in Nigeria righy now, is so unbelievable this kin thing can be happening.

If nah Arab country or European country this kin thing dey happen, the country for dey burn by now

This is madness

Parachoko:
You have said it all man

This is Economy sabotage by Buhari and Emefiele.

Economic activities in Nigeria is almost at a standstill right now.


I wander how a Govt will introduce a policy and refuse to be flexible about the policy.

Even if the Government refuse to release the old money in the bank back into circulation, they should have just make all the old notes outside circulation legal tenders till a new Govt takes over on May 29 and decide on what to do.

A policy someone else can get there on May 29 and scrap everything. It does not make sense to me at all.

I do not unserstand the kijd of madness going on in Nigeria righy now, is so unbelievable this kin thing can be happening.

If nah Arab country or European country this kin thing dey happen, the country for dey burn by now

This is madness

Thank you, Comrade. How any sane person could support this massive punishment of the masses is beyond me. Money in circulation in Nigeria was actually small before this policy. Look at the other countries in your chart.

This is already messing up the economy. What I foresee is the next government scrapping this nonsense. Buhari's place in Nigeria's history will haunt him till his last days. What with increased poverty and more terrorism? We warned people against him but they didn't listen. I remember how folks used to tackle me because of this illiterate years ago. Now they're all cursing him.

Obaaderemi2:
You mopped up #3tr from the economy and pushed out #300bn. How's that going to work in a country of largely informal economy?

One of the excuses was that Nigeria had too much money in circulation. Now #3tr is less than $7bn just about 2% of our GDP. Now for comparison, India Even after mopping up a lot of its currency still has about 7% of its GDP as money in circulation, USA has close to 10%. Those are hugely successful partially cashless economies. None of them brought this level of hardship to their citizens. Now old and young are sleeping at bank's ATMs just to withdraw #10,000 cash. Inflation has gone up to 21.80%. By the time this idiotic president and cbn governor are gone, inflation will be close to 25% if care is not taken.

Continue hailing Buhari out of political desperation.

Thank you comrade. most of them don't have sense it is just to shout vote buying all of that make their brain weak. They are thinking with their dead brain, claiming one politician somewhere stored imaginary cash which is not true in the first instance. they are jokers everywhere.