₦airaland Forum

Lithiumite:
Only if you know how much damage 500k can do in the hands of these guys ... If 3 of us carry 500k each,that's 1.5m.

There is no reason not to go cashless for any transaction above 50k.....I even had to fight and amala seller because they requested cash for a bill of 12k... The way wey I take change am for dem....you would hardly find more than 5k cash on me at any given time.

The truth is what you have said.
Even if I try very hard, I often go weeks without touching a naira note.
The convenience of having cash is only offset by having flawless network for online transactions. We don't have that yet. Not by a long shot.
Meanwhile, controls are not being exercised on the banks to keep cash away from criminal elements.
A significant example is where medical emergencies occur and the online transactions fail. There should be some flexibility.
I believe we are on the right track, though. Cashless has come to stay. It must.

Yestogood:
The truth is what you have said.
Even if I try very hard, I often go weeks without touching a naira note.
The convenience of having cash is only offset by having flawless network for online transactions. We don't have that yet. Not by a long shot.
Meanwhile, controls are not being exercised on the banks to keep cash away from criminal elements.
A significant example is where medical emergencies occur and the online transactions fail. There should be some flexibility.
I believe we are on the right track, though. Cashless has come to stay. It must.

Do you know how much cash is outside the banking system.....I was once in bayelsa and I saw someone buy a car he just saw on the street and had interest in and paid cash, about 4m in less than 15mins without even going to the bank.....he even offered to escort the seller to the bank before collecting the car.....that's how awash our country is with loose cash......it's a problem for any govt trying to fight insurgency and also inflation.

Our tech advancements with payment systems are improving daily that we need to drive it down to the grassroots and make a law ensuring it's usage.

i am sure he demanded HIGER, BIDDING no work ABI?