Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,162,131 members, 7,849,546 topics. Date: Tuesday, 04 June 2024 at 12:02 AM |
Nairaland Forum / Nairaland / General / Investment / CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers (2077 Views)
Register And Start Making Digital Money, Don't Dull Yourself / Whatsapp Digital Money Free Classes Starting On The 23rd Of January.. / Global Recession Looming, Why It Will Benefit Digital Money (2) (3) (4)
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 1:51am On Jan 25, 2023 |
Misterc:My brother.. In the U.S, laundering “dirty” money (another name for “evil money” -- or money gotten from criminality or illegal business) is not easy. -- but in Nigeria,, there is no need to launder anything. Once you get the evil money, just start spending it already. There is no way to even know whether the money is clean or not |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 1:55am On Jan 25, 2023 |
Thanksful: .. I pray that the NEXT GOVERNMENT has a Strong And Functional “E-PARTICIPATION PLATFORM” for Citizens.. That's All I Pray For. Then, lots of Citizens Ideas would be heard and be tested and/or fully implemented. 1 Like |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 1:55am On Jan 25, 2023 |
ACRI:Thanks. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 1:56am On Jan 25, 2023 |
Mopolchi:You wouldn't conclude yet. There some other “Good Policies” which came from him. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 2:00am On Jan 25, 2023 |
cliqtips: . The truth is that.. For the sake of whatever that is good, we need to assume that they really do not know. (But in reality, we are very much aware that, “They Don't Really Care About Us”.) |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 2:00am On Jan 25, 2023 |
Emeka71:Thanks |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 2:11am On Jan 25, 2023 |
tony0806:Almost every “Nigerian Bank” use the machine for Counting Dollars. Thus, the U.S Government knows which Exact Bills are in Circulation even Outside of the U.S.. But these “Special Money Counters” are not actually directly connected to the computers, and thus, they do not create a “downloadable file” attached to each completed transaction, which states the Serial-Numbers of all the bills that went through with each particular transaction. This particular additional function which I explained above, is what the CBN should introduce. Such attached downloadable files would be very useful in tracking and tracing evil money. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 2:21am On Jan 25, 2023 |
lessonotes: We cannot wait to have widely-accepted “cashless” means of paying for very small amounts.. (as low as N50.) And which wouldn't use “EXCESS BANK CHARGES” to discourage its use. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 2:23am On Jan 25, 2023 |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 2:24am On Jan 25, 2023 |
HNICEARTH: Thanks so much for the appreciation.. Almost every “Nigerian Bank” use the machine for Counting Dollars. Thus, the U.S Government knows which Exact Bills are in Circulation even Outside of the U.S.. But these “Special Money Counters” are not actually directly connected to the computers, and thus, they do not create a “downloadable file” attached to each completed transaction, which states the Serial-Numbers of all the bills that went through with each particular transaction. This particular additional function which I explained above, is what the CBN should introduce. Such attached downloadable files would be very useful in tracking and tracing evil money. 1 Like |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 2:27am On Jan 25, 2023 |
PARADIZEPRIEST:In Nigeria,, there is no need Sef of Laundering anything. The security on money is not “tight” enough. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 2:40am On Jan 25, 2023 |
PerfectMan24:It's well. Government is supposed to be the wide bridge between the Rich and the Poor. The Gap between the Rich and the Poor is really very wide, but the Government is also supposed to be the wide and easily accessible bridge in-between the wide gap, so that many people can comfortably use the bridge, and be communicating across the bridge (and even along the bridge too) and feel so safe and secured and comfortable. But in Nigeria, the Government are actually pretending to be the bridge, but the bridge here is very narrow, and blocked off at both ends.. Access to this bridge is highly controlled, and very much partial and biased. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by olaeffect(m): 2:49am On Jan 25, 2023 |
Misterc: That is where you guys miss it. Our banks are actually one of the best in the world compared to the dilapidated infrastructure that is available in Nigeria. The technology that our banks have cannot even be handled by our CBN and security agency put together. Ordinary reportable transactions of N5m and N10m that the banks report to CBN and NFIU is not even being fully utilized. Is it our Nigerian police that does not even have an online real time data base of stolen cars that have been reported in every police station that you will flag bank notes for? I wonder why Nigerians always think too highly of our government at the detriment of Nigerian banks. These same banks just spent billions few years back in acquiring BVN machines and did a fantastic job in capturing Nigerians without bribe and tipping (can you say the same for the NIN capturing by FG), now you want them to buy serial number capturing note counting machines, that even most banks in UK, USA, and Canada cannot afford. You guys just want to destroy banks in Nigeria. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 5:40am On Jan 25, 2023 |
olaeffect:I would start by saying: “Thanks so much for the ‘insider’ contributions”.. The technology that our banks have cannot even be handled by our CBN and security agency put together.The original post is actually supposed to be meant for the CBN (and by extension -- The Police), and that is, if they themselves are ready to upgrade far beyond whatever they think they are currently doing at the moment. Ordinary reportable transactions of N5m and N10m that the banks report to CBN and NFIU is not even being fully utilized.The NFIU in particular is one useless Unit (or office, or agency, or whatever they intend it to be). As for the CBN, of a good CBN-Governor who has the strong will to do what is right for the National Growth, without much penchant for revenue drive and personal gains, then the CBN will grow far beyond whatever we are currently witnessing. Is it our Nigerian police that does not even have an online real time data base of stolen cars that have been reported in every police station that you will flag bank notes for?The Nigerian Police is too analogue. Yes we know. THEY NEED TO BE FULLY DIGITISED, BOTH IN THEIR ESTABLISHMENT AND IN THEIR FUNCTIONS.. They need a dedicated Police Intranet. They need to have and operate a lot of databases, both with the CBN/banks, NCC/Network-Providers, and whole lot of Databases.. But unfortunately, they have none of these. If The Nigerian Police becomes fully digitised, then, flagging notes won't be a big deal for them. There was this other thread that made front-page on Nairaland, about the Standadization of the Nigerian Police (or something of that nature), where I argued that the Police needs Digitisation more.. But some people argued that digitisation of the Nigerian Police is not the main problem with the police, that the main problem is the police officers themselves.. But the truth is, the Nigerian Police system is too analogue, and thus, it is not bringing out the best in the police officers, no matter how hard they might be trying. (See the thread here: https://www.nairaland.com/7511911/igp-standardizes-police-investigation-process#119756050) I wonder why Nigerians always think too highly of our government at the detriment of Nigerian banks.It is only “Patriotism” and “Having Great Hope In Our ‘Only’ Dear Country And Nation”,, that a lot of us still think this much of our Government. We still hope that one day, a Government which is equal to the task will be in place. In fact, A Government that is “More Than The Task” will definitely come into place ONE DAY. It is not at the detriment of the banks. The banks are trying, but the Government Environment in which they are operating, is not bringing out the best in them. I guess you are aware that fraudulent activities that are perpetrated by bank-insiders are as a result of these lapses in Government which the bank-insiders had observed as a leaking-hole, and tried to cash-in upon. These same banks just spent billions few years back in acquiring BVN machines and did a fantastic job in capturing Nigerians without bribe and tipping (can you say the same for the NIN capturing by FG), now you want them to buy serial number capturing note counting machines, that even most banks in UK, USA, and Canada cannot afford.Talking about the NIN, it was supposed to be the most important database in Nigeria (even ahead of the BVN and the INEC’s PVC), but shamefully, it is another effort in futility.. A Very nice policy on paper, but poorly implemented -- thanks to the type of Government we currently have. And about the usage of such machines in other countries,, well, it won't be a bad idea if Nigeria becomes the first that gets this into practice, and have other countries copy from it. You guys just want to destroy banks in Nigeria.This last line is not true, that is, if it happened to be what you took home from the whole of this topic which we are discussing here. Like I said earlier, the thread is more about the CBN and the Police to sit up. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 5:43am On Jan 25, 2023 |
..c |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by HNICEARTH: 6:31am On Jan 25, 2023 |
tk4radi: If you take a careful look at the e-receipt print out, you will notice that it captures each of the serial number of Bills issued out. It mustn't necessarily be connected to a computer for downloadable files coz the machine is a computer on it's own. It has it's own storage and receipts can always be printed out for reference, though I dont have an idea how long and how much data it can hold. Aside the above function you talked about, it also detects stained and defaced currency. It's about time we move from that analog to the digital |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by Mopolchi: 8:05am On Jan 25, 2023 |
tk4radi:Which one in particular that stood the test of time? I am itching to hear. |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by AceRoyal: 3:43pm On Jan 25, 2023 |
tk4radi: |
Re: CBN Should Direct Banks To Use Digital Money-Counters Which Read Serial Numbers by tk4radi: 6:03am On Jan 26, 2023 |
Lalasticlala, Seun, Nlfpmod |
Guide Using Indicators To Earn Upto 10usd Per Session In Binary Options / Make Daily Incoming Trading With Solid Knowledge / I Need N400k Loan To Pay Back 500k In 2 Months. N250k Each Month.
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 37 |