₦airaland Forum

How can i make money and you tell me how to withdraw my money and also tell me how much to withdraw? Is there a limit to what i can save?

If no then why tell me i can't access all my hard earned cash? If i should bring a document fine but don't tell me how much cash i can take out. What if the tech fails and i need urgent cash for an urgent medical need or item? This is financial slavery!!!

we are told we will soon be allowed to make withdrawals of only 20,000 NGN per day in a country where the illiteracy level of most traders are high

Take an example of shopping for household items worth over NGN 20,000 from a market like Isale Eko where many aged women don't have account nor understand transfer and want their money in cash? or paying some landlords who don't have an account number and prefer their money in cash?

Whether we like it or not, the Unbanked population in Nigeria is huge.

Education system is almost dead and you want the populace to embrace technology?

It's like putting someone under the hot sun and expect him not to sweat.

The things i see in Nigeria, I haven't seen before and we have brilliant minds. Does too much study affect our thinking?

Datedoboy:
How can i make money and you tell me how to withdraw my money and also tell me how much to withdraw? Is there a limit to what i can save?

If no then why tell me i can't access all my hard earned cash? If i should bring a document fine but don't tell me how much cash i can take out. What if the tech fails and i need urgent cash for an urgent medical need or item? This is financial slavery!!!

we are told we will soon be allowed to make withdrawals of only 20,000 NGN per day in a country where the illiteracy level of most traders are high

Take an example of shopping for household items worth over NGN 20,000 from a market like Isale Eko where many aged women don't have account nor understand transfer and want their money in cash? or paying some landlords who don't have an account number and prefer their money in cash?

Whether we like it or not, the Unbanked population in Nigeria is huge.

Education system is almost dead and you want the populace to embrace technology?

It's like putting someone under the hot sun and expect him not to sweat.

The things i see in Nigeria, I haven't seen before and we have brilliant minds. Does too much study affect our thinking?

What do you expect in a country led by Cattle rearers..... You have said it all ; in fact, I know many educated retired and nearing retired civil officers and government workers that can't operate their bank application successfully, they always need the help of a youth.

Since the southerners have been docile and allowed religion to turn them to mumu, how will they fight the violent cattle rearers back who came into leadership by violence? I'd be disappointed if this policy is successfully enforced at this time without an uproar.

Datedoboy:
How can i make money and you tell me how to withdraw my money and also tell me how much to withdraw? Is there a limit to what i can save?

If no then why tell me i can't access all my hard earned cash? If i should bring a document fine but don't tell me how much cash i can take out. What if the tech fails and i need urgent cash for an urgent medical need or item? This is financial slavery!!!

we are told we will soon be allowed to make withdrawals of only 20,000 NGN per day in a country where the illiteracy level of most traders are high

Take an example of shopping for household items worth over NGN 20,000 from a market like Isale Eko where many aged women don't have account nor understand transfer and want their money in cash? or paying some landlords who don't have an account number and prefer their money in cash?

Whether we like it or not, the Unbanked population in Nigeria is huge.

Education system is almost dead and you want the populace to embrace technology?

It's like putting someone under the hot sun and expect him not to sweat.

The things i see in Nigeria, I haven't seen before and we have brilliant minds. Does too much study affect our thinking?

God help us

Datedoboy:
How can i make money and you tell me how to withdraw my money and also tell me how much to withdraw? Is there a limit to what i can save?

If no then why tell me i can't access all my hard earned cash? If i should bring a document fine but don't tell me how much cash i can take out. What if the tech fails and i need urgent cash for an urgent medical need or item? This is financial slavery!!!

we are told we will soon be allowed to make withdrawals of only 20,000 NGN per day in a country where the illiteracy level of most traders are high

Take an example of shopping for household items worth over NGN 20,000 from a market like Isale Eko where many aged women don't have account nor understand transfer and want their money in cash? or paying some landlords who don't have an account number and prefer their money in cash?

Whether we like it or not, the Unbanked population in Nigeria is huge.

Education system is almost dead and you want the populace to embrace technology?

It's like putting someone under the hot sun and expect him not to sweat.

The things i see in Nigeria, I haven't seen before and we have brilliant minds. Does too much study affect our thinking?

Oga, stop complaining, you all want a better country but do not accept what makes for better society. Naira is not your property, it is CBN property which they allowed you to hold. If you like, you can make your money in cedis or rupees, that is your business. However, you must abide by CBN rule if you must use Naira.

The new CBN cashless policy is a clear violation of your right to earn and spend your money. You're right, 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

Validated:
Oga, stop complaining, you all want a better country but do not accept what makes for better society. Naira is not your property, it is CBN property which they allowed you to hold. If you like, you can make your money in cedis or rupees, that is your business. However, you must abide by CBN rule if you must use Naira.

You're wrong naira is not CBN's property. It only controls the volume of money (naira) supply by making regulatory policies in the economy in order to ensure monetary and price stability (Ideal mandate).

Validated:
Oga, stop complaining, you all want a better country but do not accept what makes for better society. Naira is not your property, it is CBN property which they allowed you to hold. If you like, you can make your money in cedis or rupees, that is your business. However, you must abide by CBN rule if you must use Naira.

I'm not Oga and I'm not complaining. I'm Just airing my opinion.
You think withdrawal limit will make a better society not quality of education right?

By the way, Naira is partly CBN's property and my property too. If the money you worked for is not also your property, after earning your money in Naira, you can as well dash it out to CBN or tell them to spend it for you since it's not yours.

FinidiGeorge:
What do you expect in a country led by Cattle rearers..... You have said it all ; in fact, I know many educated retired and nearing retired civil officers and government workers that can't operate their bank application successfully, they always need the help of a youth.

Since the southerners have been docile and allowed religion to turn them to mumu, how will they fight the violent cattle rearers back who came into leadership by violence? I'd be disappointed if this policy is successfully enforced at this time without an uproar.

Hmmm. I don't think there will be any uproar and i won't be surprised. Some are in support already.

You see, this is the reason the country is like this. When these policies are dished out, some will support because they aren't affected but when it affects them, they complain.

Selfishness and greed is the problem of Africa. No consideration for the Unbanked and illiterate populace

Bebigiby:
The new CBN cashless policy is a clear violation of your right to earn and spend your money. You're right, 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

You are a right thinking Nigerian. God will be kind to you

Bebigiby:
You're wrong naira is not CBN's property. It only controls the volume of money (naira) supply by making regulatory policies in the economy in order to ensure monetary and price stability (Ideal mandate).

Don't mind him. You see the kind of population we have? Government have messed up the thinking of many people.

Many people don't even know their right anymore.

Imagine a citizen saying what he earns is government property that Government only allows him to use it. That means Government has the right to take what he earns from him SMH.

We have a looooong way to go in this country

Suunnn:
God help us

Amen

Datedoboy:
How can i make money and you tell me how to withdraw my money and also tell me how much to withdraw? Is there a limit to what i can save?

If no then why tell me i can't access all my hard earned cash? If i should bring a document fine but don't tell me how much cash i can take out. What if the tech fails and i need urgent cash for an urgent medical need or item? This is financial slavery!!!

we are told we will soon be allowed to make withdrawals of only 20,000 NGN per day in a country where the illiteracy level of most traders are high

Take an example of shopping for household items worth over NGN 20,000 from a market like Isale Eko where many aged women don't have account nor understand transfer and want their money in cash? or paying some landlords who don't have an account number and prefer their money in cash?

Whether we like it or not, the Unbanked population in Nigeria is huge.

Education system is almost dead and you want the populace to embrace technology?

It's like putting someone under the hot sun and expect him not to sweat.

The things i see in Nigeria, I haven't seen before and we have brilliant minds. Does too much study affect our thinking?

you will be forced to buy extra cash in the black market as if you're buying dollars forcing the naira to become as useful as Zimbabwean dollars

Datedoboy:
How can i make money and you tell me how to withdraw my money and also tell me how much to withdraw? Is there a limit to what i can save?

If no then why tell me i can't access all my hard earned cash? If i should bring a document fine but don't tell me how much cash i can take out. What if the tech fails and i need urgent cash for an urgent medical need or item? This is financial slavery!!!

we are told we will soon be allowed to make withdrawals of only 20,000 NGN per day in a country where the illiteracy level of most traders are high

Take an example of shopping for household items worth over NGN 20,000 from a market like Isale Eko where many aged women don't have account nor understand transfer and want their money in cash? or paying some landlords who don't have an account number and prefer their money in cash?

Whether we like it or not, the Unbanked population in Nigeria is huge.

Education system is almost dead and you want the populace to embrace technology?

It's like putting someone under the hot sun and expect him not to sweat.

The things i see in Nigeria, I haven't seen before and we have brilliant minds. Does too much study affect our thinking?

You can simply use your atm instead of nagging.

Nobody is stopping you from buying anything using digital platforms and other instruments that supports cashless transactions.

The fact is this if you are unbanked in this 21st century, it means you don't use money or do very little transactions.

Btw, there is nothing like your money, once your money enters into the banking system, it does not belong to you.

Also there is no limit on what you can save when things are digital.

RZArecta:
you will be forced to buy extra cash in the black market as if you're buying dollars forcing the naira to become as useful as Zimbabwean dollars

Lol. That's it. Nigerians are very funny people.

thebosstrevor1:
You can simply use your atm instead of nagging.

Nobody is stopping you from buying anything using digital platforms and other instruments that supports cashless transactions

I'm not nagging and not talking of myself. Besides how many people have ATMs?

The ATM allows only 20k per day. So what if you buy goods worth over 20k from someone who doesn't have account with a bank or understand cashless transfers?

You will spend more in using other channels like pos and so on for cash withdrawals (spending money to collect your own money).

You don't understand the economic implications of these yet.

Don't worry, let's all watch the film. It's more interesting than i thought

Datedoboy:
Lol. That's it. Nigerians are very funny people.

pray it doesn't happen if not, the consequences will be catastrophic

Datedoboy:
I'm not nagging and not talking of myself. Besides how many people have ATMs?

The ATM allows only 20k per day. So what if you buy goods worth over 20k from someone who doesn't have account with a bank or understand cashless transfers?

You will spend more in using other channels like pos and so on for cash withdrawals (spending money to collect your own money).

You don't understand the economic implications of these yet.

Don't worry, let's all watch the film. It's more interesting than i thought

How many people have atm

About 40m Nigerian have a bank account ,so hypothetical about 40m Nigerian have a atm.

I can confidently tell you that anyone who you are transacting 20k with has a bank account.

There is more economic benefits than disadvantage

Government will be able to track money in circulation
It will help in beating down hyperinflation
Easy to track terrorists and money laundering
Easy to collect tax

The downsize is that we have now given government the power to put their nose into our privacy.

Make dem go train doz market women how to receive money tru barcode at least that will save dem some stress....