Blue3k:


Doesn't Toyota Ghanaian manufacturers have access to Nigerians because of ECOWAS free trade in this example. I think you should switch the country in the example.

Land border closure is still a factor, tho like you said they still have access using ECOWAS protocols and sea chanels

Another major scam is coming up and it all looks SHAMBOLIC.

FreeStuffsNG:
.

So population is our problem?

Cc: franchasng

FreeStuffsNG:
Why mint so so much when cash payment does not necessarily have to be in cash? I just don't like how others set agenda for us to compete on the level of their own priorities. We can achieve better outcome if we use such huge money spent on digital payment hype on just winning the war on overpopulation thst keeps pushing our population growth rate over our GDP growth rate year on year.

To get more people to embrace family planning and supporting the delivery of 24-hour family planning line and intervention costs far far less yet can help bring our growth rate at parenting or lesser than out GDP . This digital payment is not really our priorities and I am not suggesting it's not without its merits.

Corruption is the reason the government keeps minting cash. The disbursement of cash is virtually untraceable.

Can you imagine the outrage that will ensue if it can be traced that Tinubu transferred ₦2 billion to MC Oluomo who now shared ₦10 million each to known Lagos thugs just before an election?

It's much safer to just drive the cash in bullion vans, Bruh!

I had to commend the writer, it's insightful.

The biggest economies in ECOWAS didn't sign the deal to use the Eco because they stand to lose more.
But if you know anything about banks and money circulation you will understand doing cashless transactions favors the banks than the customers,

PS: the only way cryto currencies will take over from fiat is if Governments can control it . Btc and the rest will only be alternative payment methods . Government trive on currency manipulation

Even at this age so Africans don't know the whites don't want them to be united?

dfrost:


So population is our problem?

Cc: franchasng

Yes overpopulation is one of Nigeria's major problems.


Our population is growing faster than our GDP and GDI, making our PCI so low that basic amenities of life isn't accessible to all Nigerians.



We need to control our population growth to exit our present economic and security woes.


Boko Haram, Banditry, etc are all feeding on Northern people's overpopulation of poor children without civil education

chatinent:
Even at this age so Africans don't know the whites don't want them to be united?

unity of poor people is always a disaster.


West Africa don't need any united front or single currency right now until they get their asses fixed

Blue3k:


Source: https://venturesafrica.com/does-the-eco-have-a-place-in-the-future-of-money/

Front page: Lalasticlala Mynd44

The last line, talking about digital currency when almost half the continent is uneducated, this will be a long walk

franchasng:
Yes overpopulation is one of Nigeria's major problems.


Our population is growing faster than our GDP and GDI, making our PCI so low that basic amenities of life isn't accessible to all Nigerians.



We need to control our population growth to exit our present economic and security woes.


Boko Haram, Banditry, etc are all feeding on Northern people's overpopulation of poor children without civil education

Good. I like the fact you stated at the last paragraph. If it's a northern problem that the bad guys are taking advantage of, then let's tackle it from there.

We need to educate them on the issue. With time they will understand. Same thing happened with the case of polio. They never understood it until the passing of time.

We are not the only country with a booming population. Population has a way to help an economy thrive if harnessed properly.

China is a classic example.

Latidoh1:

What is the cost of the digital? Can you do a little analysis and comparison for us? So other countries that still use paper does it mean they have not seen the light?

Put it this way. Transition is hard; it's always hard.
Printing money is expensive.
Once things are in place, it's just a matter of time, major chunk of payments will go digital.
It's cheaper.

End time...

dfrost:


Good. I like the fact you stated at the last paragraph. If it's a northern problem that the bad guys are taking advantage of, then let's tackle it from there.

We need to educate them on the issue. With time they will understand. Same thing happened with the case of polio. They never understood it until the passing of time.

We are not the only country with a booming population. Population has a way to help an economy thrive if harnessed properly.

China is a classic example.

Population doesn't favor every country, it won't favor a black nation struggling with corruption, nepotism, clannishness and what have you.



Population favors nations with organized system and values

franchasng:
Population doesn't favor every country, it won't favor a black nation struggling with corruption, nepotism, clannishness and what have you.



Population favors nations with organized system and values

Good then. Population is then lower in ranking in our problems.

1. Corruption
2. Nepotism
3. Clannishness
4. Lack of value system
5. Population

1-4 are our major problems. Population is the least of our worries.

ps. and then there is cc and financial apps

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Myer:


The problem is countries like Nigeria will never let it work. Cos our corrupt politicians thrive off devaluing our currency for their greedy gains which they won't be able to do with a single pan-African currency.

I agree it would be scary for Nigeria if they can't control monetary policy. I doubt they honestly want to surrender that power. I wouldn't be surprised if a Greek style crisis occurred a few years down the road. That happened because Greece lied and borrowed too much. Germany had to reluctantly bail them out.

Jeezuzpick:


Corruption is the reason the government keeps minting cash. The disbursement of cash is virtually untraceable.

Can you imagine the outrage that will ensue if it can be traced that Tinubu transferred ₦2 billion to MC Oluomo who now shared ₦10 million each to known Lagos thugs just before an election?

It's much safer to just drive the cash in bullion vans, Bruh!

You're just making beer parlor gist allegations here, the CBN knows exactly how much Is in circulation and how much is in the Cash reserves(7.5% of all deposits).

you should pay attention to MPC meetings if you want to keep to date with Nigeria's monetary policy

everyone against going digital with legal tenders would be dishonest. "paper" cash wear and tear.
the CBN spends billions of Naira "mopping" up dilapidated notes, disposing of them, and minting new ones

Blue3k:


I agree it would be scary for Nigeria if they can't control monetary policy. I doubt they honestly want to surrender that power. I wouldn't be surprised if a Greek style crisis occurred a few years down the road. That happened because Greece lied and borrowed too much. Germany had to reluctantly bail them out.

Nigeria's debt to GDP ratio is just below 20% of GDP. Nigeria can pay her debt in one generation.

Britain just recently finish paying up WW I debts, everyone that lived in that era would be dead by now

lebuhsi:


Nigeria's debt to GDP ratio is just below 20% of GDP. Nigeria can pay her debt in one generation.

Britain just recently finish paying up WW I debts, everyone that lived in that era would be dead by now

Tell me about the tax to GDP ratio or tax to debt ratio then explain how you're going to pay it one generation.

Blue3k:


Tell me about the tax to GDP ratio or tax to debt ratio then explain how you're going to pay it one generation.

if your tax to GDP ratio is 8% juxtapose it to that of Greece at over 30%. it means they are a lot of progress to be made. the government should be collecting nothing less than $50bn y on y as taxes.

every year we see the FIRS exceed their targets on tax collected, the progress is slow but it can only get better. The major reason for our low Tax to GDP ratio is that our economy is largely informal so they are a lot of gaps to cover.

lebuhsi:


You're just making beer parlor gist allegations here, the CBN knows exactly how much Is in circulation and how much is in the Cash reserves(7.5% of all deposits).

you should pay attention to MPC meetings if you want to keep to date with Nigeria's monetary policy

everyone against going digital with legal tenders would be dishonest. "paper" cash wear and tear.
the CBN spends billions of Naira "mopping" up dilapidated notes, disposing of them, and minting new ones

Okay, Einstein.

Since you're such a genius, tell me, if I withdraw ₦500k, can CBN find out how much I spent on fuel or rent?

If I gave my wife ₦100k cash, can CBN trace it? If I gave ₦200k cash to boys to cause trouble in my area, can CBN trace it back to me?

If, however, I transferred the money using my app......

You gerrit?

If you don't gerrit, forgerabourrit.

Jeezuzpick:


Yeah, Einstein.

If I gave my wife ₦100k cash, can CBN trace it?

If, however, I transferred it using my app......

You gerrit?

If you don't gerrit, forgerabourrit.

Whether you use physical cash or digital cash it's entirely up to you. cashless transactions are currently on the rise(crypto, mobile Apps, more recently, Central banks) it's no guessing where the future of monetary transactions is going.

You have likely done a cashless transaction in the last 5 days than not, you see where this is going?

Lafmo nobody dey use e-naria every one Don forget about am.
But I hope I'll be alive to see all Africa use one currency.