₦airaland Forum

dre11:
https://thenationonlineng.net/nigerians-hoarding-94-percent-cash-says-cbn-report/

Nigerian hoard because you toy with their hard ear money for legitimate earners. How can I have 500k I account and when I need just 200k, you will be telling me I can't collect more than 50k per week?

The most useless and inconsistent government ever in NG. The suffering in the land is too much.

Clawing at anything and everything

Jagabanbattle:
With the latest threat by OPay and possible threat from other banks on Cryptocurrency, we are totally back to CASH regime. People will never allow you to control them which is one of the reason cryptocurrency has become popular all over the world.

Now, people will transact in CASH and never use Bank as middleman again. Any cash that goes out won’t return to the Bank anymore.

Even when you're paying or receiving large sums?

breezeng:
The most useless and inconsistent government ever in NG. The suffering in the land is too much.

How is this related to the topic?

DatNiggaDaz:


You are still blaming Emiefele

Who else would you blame PO , Ipob , Obidients,, Igbos , SE , Biafra ,

I don't expect you to blame anyone else.

Afterall it is favouring you & your family

But when obi blamed it's ok. Abi obi na God?

dre11:
https://thenationonlineng.net/nigerians-hoarding-94-percent-cash-says-cbn-report/

60% of the cash are with POS operator

maasoap:
Honestly speaking, this report makes me happy in the sense that it will serve as a wake up call for our policy makers to use their senses when introducing policies next time. This lack of trust was caused by Emefiele and Buhari.
Now, another one is happening with Tinubu and Cardoso by removing subsidies which is making our economy shrinking for the past eight months according to CBN

Please stop this Emefiele rubbish. Naira is in POS hands. Why should there be POS when we have banks?

This monster will soon become another BDC demon.

Jagabanbattle:
With the latest threat by OPay and possible threat from other banks on Cryptocurrency, we are totally back to CASH regime. People will never allow you to control them which is one of the reason cryptocurrency has become popular all over the world.

Now, people will transact in CASH and never use Bank as middleman again. Any cash that goes out won’t return to the Bank anymore.

Is that what you think? Take your time and visit a bank branch. It's only who has money that will hoard money. How many people in your area has the capacity to hoard money? People never chop baleful. Bro the one that will make you crack your ribs is the filling station queue. People will queue for 5 hours to buy 5 liters. There's no money to hoard. It's distributors and wholesalers that might try to hoard money.

Lol.

Always blaming others for thier failings.

You have no direction, no plan nothing. Using a scattergun approach to run government and when the approach fails, find someone or something else to blame.

dre11:
https://thenationonlineng.net/nigerians-hoarding-94-percent-cash-says-cbn-report/

Na me know wetin my eye see that time. Roaming about Berger for 45mins before I could finally see 2k that's would take me to work.

I still dey get PTSD from that event meen...

I am reading comments above and laughing loud . When CBN issued the directive on currency swap that year, people were blabbing and clamoring. Many Nigerians supported agent Elrufai 001 of hell fire to fight the government and reverse the mopup policy. Tinubu will eventually settle for currency swap last last. Even if Emefiele is proven to be a thief, I believe that policy was spot on. Nigeria is badly damaged so in order to fix it, there must be ramifications we all have to put up with.

Cash is old fashioned now. People transact mostly through electronics

Somebody needed 2 bullion vans to deliver cash to him in his house. He should know a thing or two about cash outside the banking system.

phemray:
But when obi blamed it's ok. Abi obi na God?

Then blame PO

Provide effective cashless policies and systems for monetary transactions, and hoarding of cash would die a natural death.

IT SIMPLY MEANS WHAT IS LEFT FOR THE MASSES IS JUST 6%?WHY ARE THESE SO CALLED MONEYBAGS SO SELFISH AND WICKED?
NO WONDER THERE ARE NO MORE ADEQUATE CASH IN THE BANKS!!

Jagabanbattle:
With the latest threat by OPay and possible threat from other banks on Cryptocurrency, we are totally back to CASH regime. People will never allow you to control them which is one of the reason cryptocurrency has become popular all over the world.

Now, people will transact in CASH and never use Bank as middleman again. Any cash that goes out won’t return to the Bank anymore.

I wish the clown heading CBN and NSA will take this seriously..

Abeg oo the cash crunch of last year it have do abeg.
We don't want a repeat of it.

POS operators are the real problem. So much cash being held by those guys. Money that should be easily available via ATMs are greedily withdrawn for personal gains by those guys. CBN must regulate their activities before things get out of hand.
When opportunities are provided for people to earn a living, they will abuse it with their greed

Nigeria didn’t started today.

Nigeria have hoard cash in its inception. Worst that obj and Jonathan yet we didn’t face a challenge like this. When did Nigerians start opening a bank account? It was less than 5% during OBJ.

I can conveniently tell you right now that Nigerians now using bank account today like never before. Almost everyone from the age of 18 now have a bank account unlike 8 years ago.

If cbn is talking about saving. How can Nigerians save when they are living from hand to mouth. Most if them don’t have that funds to save. As money enters it leave immediately and inflation even makes it worst.

All salary accounts and poor people just live off their earnings. So they don’t have that kind of money to hoard cash like that.

The politicians like tinubu they are the ones hoarding it. As we saw in the last election when they where even carry foreign currency to buy vote’s

What do they expect when they turned POS to ATM. The POS operators are the one hoarding cash.

I can help CBN and Nigerian banks retrieve all the money in to their system via hig quality copywriting. That is if they visit my link below.

You may think it started today. But before you write this, ask yourself how much money you're holding in your own house. The few individuals who are hoarding money know themselves, including those in positions of power. The average person is struggling to feed themselves, so expecting them to hoard money in their homes is unrealistic. These are the people who frustrated the currency redesign, and they hold more power than Emefiele and the CBN.

RockHard:
Ever since that disastrous Emefiele naira confiscation policy, a lot of people stopped trusting banks to keep their money safe for access whenever they need it.

Next time do your analysis considering the services of POS agents. The business makes money to circulate without necessarily getting to the bank's for accountability.

APC Politicians not Nigeria, why are you afraid

Jagabanbattle:
With the latest threat by OPay and possible threat from other banks on Cryptocurrency, we are totally back to CASH regime. People will never allow you to control them which is one of the reason cryptocurrency has become popular all over the world.

Now, people will transact in CASH and never use Bank as middleman again. Any cash that goes out won’t return to the Bank anymore.

But that is totally Unsafe and Risky... should people go back to the eraof keeping cash @ home it might give rise to robbery

Imagine the mental stress that comes with carrying over 2m to go transact ... compared to just holding ur phone n transfer

On the long run hoard cash outside bank is not just detrimental to the economy it put percieved rich people in danger .. i don't see any benefit sef

Then the CBN crew might as well pack up their bags and go home.

Monetary policy is ineffective and guaranteed to fail when the bulk of the money supply is outside the banking system. How will the usual tools (open market operations etc.) work properly when banks just don't have the physical cash deposits in their own vaults or with the CBN?

So says a severely pained Hoebidient..keep crying a river ogbeni. You keep deluding yourselves your mandate was stolen. without necessary being an admirer of this clueless APC regime. but i think it’s time you guys moved on.

DatNiggaDaz:


When certificateless mandate thieves snatches & grab power these are the types of lies, deceit & propaganda that will be circulated into the public to absolve themselves fröm their incompetent cluelessness

You are the one who made a policy that Nigerians will stop receiving foreign currencies from oversseas in it's original denomination but in Naira in Nigeria

You regulated the Black market, licensing only your political business associates. You banned the usage of foreign currencies [dollars] in Nigeria

Despite all these emiloconomy gra gra you still dish out lies & propaganda against your own tinubulated policies to fool your gullible supporters

You are crying & blaming everyone living & non living after grabbing, snatching & running away with what does not belong to you

You are now blaming Nigerians for hoarding as if Nigerians just started existing after bulaba stole the mandate. Chai, what insult

The geographical expression is in disarray in the white substance hands of the worthless lagoon builder

dre11:
https://thenationonlineng.net/nigerians-hoarding-94-percent-cash-says-cbn-report/

This could have been us having smooth relationship with banks...



But.....


Bank charges
Long queues
Hackers
And
Possibly coincidental robbery while on queue won't let us

Politicians NOT Nigerians

Beautifulday:
Please stop this Emefiele rubbish. Naira is in POS hands. Why should there be POS when we have banks?

This monster will soon become another BDC demon.

see mumu talk,, how much does POS have to hoard the whole money that will liquidate Naira? You fools can blame everyone but your selves,, take away those guys from the street and see if it will solve Nigeria problems