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Nairaland Forum / Science/Technology / Phones / The Real Reasons Why You No Longer Find ATMs Giving Cash (42498 Views)
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The Real Reasons Why You No Longer Find ATMs Giving Cash by Mynd44: 5:32pm On May 21 |
Nigerians, we shouldn't wait for things to fall apart. Banks must be called to order and CBN must push more liquidity to the banks as well. There’s no use chasing what is not lost or trying to give the dog a bad name because you want to hang it. Dear citizens, may I approach the court of public opinion to make my case?Sponsored Post 35 Likes 3 Shares
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Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by meum: 5:38pm On May 21 |
The masses blamed Meffy back then. Isn’t it okay to blame Cardy? 85 Likes 2 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by psucc(m): 5:55pm On May 21 |
The truth is that the banks are now selling cash to POS operators and making brisk cash in the process. Every industry in Nigeria has its own fraud signature 335 Likes 33 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Whois(m): 6:14pm On May 21 |
We need to embrace cashless policy 9 Likes 5 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by budaatum: 6:15pm On May 21 |
From ages past, there have been banks. And there has also always been money - cowrie shells, kudi, owo, gold bars, or bank notes) Digital money is the next evolution of money, and bank notes would soon be as dead as cowrie shells, it seems. 42 Likes 6 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Treasure17(m): 6:21pm On May 21 |
Our super mod is now a lawyer by default. The truth is there are limited cash in the bank. Probably the CBN is not doing enough in this regard. You have to wet the ground before you get enough cash in the bank now. 7 Likes 1 Share |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Zonefree(m): 6:41pm On May 21 |
Treasure17: If there are truly limited cash in banks, where are pos operators getting cash for transactions? Filling stations deposit cash in the bank almost every day, but, banks sell the cash to pos operators, the reason ATMs are not functioning. 144 Likes 11 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Mosdiii(m): 6:51pm On May 21 |
Very sad reality. Even the pos guys are making money too .... Now u pay 200 Naira for 5k 21 Likes 1 Share |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by id4sho(m): 6:55pm On May 21 |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by ValCon888: 7:24pm On May 21 |
I'm not in Nigeria, so I cannot relate. Still, from here, it's obvious the CBN has ordered a directive to mop up excess liquidity in circulation. And that is the reason why physical naira is hard to come by. Nonetheless, most Nigerians are unaware of their rights. A typical Nigerian will open an account, pay different types of bank charges, and yet cannot withdraw their hard-earned funds from the bank ATM. That by itself is a breach of contract, and the customer has every right to sue that bank for the non-performance of their obligations. 83 Likes 10 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by ruggedtimi(m): 7:26pm On May 21 |
Cant remember the last time i used an ATM machine.. 18 Likes 1 Share |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by CrossRhodes: 8:06pm On May 21 |
meum:Okay na Suddenly cardi B is blameless despite plenty trial and error but they wanted to kill meffy for his errors too. 31 Likes 2 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by CrossRhodes: 8:11pm On May 21 |
ValCon888:In a working society this will fly and said bank will pay up. It won't work in Nigeria, no rule of law.. 28 Likes 2 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by ORANGESUPER(f): 8:22pm On May 21 |
ValCon888: Law in Nigeria are just on books. The laws over here is just to keep the lower classes in order. If the higher classes are affected by certain financial decisions, it's quickly modified or completely reversed. 27 Likes 3 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Mitsurugi(m): 9:18pm On May 21 |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Olachase(m): 9:18pm On May 21 |
Mosdiii:what you just said is pure lie, pos charge #100 for 5k 76 Likes 6 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Newyorkitis(m): 9:18pm On May 21 |
Follow Solife TV on Facebook for data and other giveaway. |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Flier: 9:18pm On May 21 |
You are jobless if you still queue trying to get money from atm machine Something POS Can give you or even bring it to your house without hassle 19 Likes 1 Share |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by MrIcredible: 9:19pm On May 21 |
The only reason is because, NIGERIA is the headquarter of evil people Greedy bastarɗs Exploiters Hypocrites 18 Likes 2 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by YoungLionken(m): 9:19pm On May 21 |
It has been hijacked by POS operators in collaboration with bankers... 8 Likes 3 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Eriokanmi: 9:20pm On May 21 |
meum:Tinubu-led APC dwells so much on propaganda. Tinubu's bad policy, even if reversed, will take Nigeria 4-5 years to recover. Cfa, which used to be the worst currency has taken over the naira. People now prefer to trade in cfa more than in naira at the border. Let me remind you of some events or policies under the buhari-led apc administratiin, which tinubu said were not right, but ended up adopting 1- Naira rescue using the dollar 2- Cash scarcity as a result of reduction of cash in circulation. 3-Subsidy is gaan! But he's now paying it, even in trillions monthly. 4-Imprtation of food items, but he's now doing that. He's forgotten about the law of comparative advantage, which will always compell some countries to import certain products. This brings a doubt to his University degree cos the baba go slow seems to be more knowledgeable than him in handling the economy, despite being seen to be far worse than his predecessors. Please add your own. 20 Likes 1 Share |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by illicit(m): 9:20pm On May 21 |
meum: E no go better for EmefiOle once again... 🤕 4 Likes 1 Share |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by meobizy(f): 9:20pm On May 21 |
If you read that post, you are jobless and broke. The moderator wey collect money post am no read am too. 9 Likes 1 Share |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by CheapHomes1: 9:20pm On May 21 |
Whois:for what reason? |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by Blaze14k: 9:21pm On May 21 |
It's been long I used the ATM or visit the bank. Last time I went to the bank I wanted to take all the money in my first bank savings account and these people said I can only withdraw 5k omo na so I kuku leave the money for them till now. Mind you this wasnt the first time I tried. The whole thing is so annoying 9 Likes 2 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by bemeruca: 9:21pm On May 21 |
Reason is that the country is dead and Tinubu will be ruling for two terms. Also, from the POS agent to the banks, to the government are all corrupt idiots. 6 Likes 3 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by hardbody: 9:22pm On May 21 |
I was at the bank today but did not bother taking cash (they will give me 10k). I just stopped by at a PoS and quietly collected the sum I needed and moved on. I mostly transact using card or transfer, abroad has structured my head on that when I almost slept on the street, till my cab man found a hotel in East London that collected cash. I stopped depending on cash payments/transaction 8 Likes 4 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by CommonSense1967: 9:25pm On May 21 |
Corrupt bank employees. Everyone is corrupt in Nigeria. The only saints are the ones that have not had an opportunity to steal. 6 Likes 2 Shares |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by NothingDoMe: 9:26pm On May 21 |
meum:😄 |
Re: The Real Reasons Why You No Longer Find ATMs Giving Cash by dominique(f): 9:27pm On May 21 |
People hardly deposit their cash in banks anymore. Too stressful, comes with charges. They prefer to give it to POS operators. 17 Likes 3 Shares |
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