Dshocker:
1 trillion belonging to Tinubu, while the remaining 800 billion came from other Nigerians.

You see how wicked and heartless this man is, he has milked Lagos state and other South Western state dry.

Misinformation. What is the source of your info?

atmy1:


Misinformation. What is the source of your info?

Tinubu is a thief...

dre11:


https://www.vanguardngr.com/2023/02/naira-redesign-mops-up-n1-8trn-from-currency-outside-banks/

It's difficult for developing economies to go cashless, It's the reason for the huge success of pos payment agent model. There's a high possibility all this money will soon leave the banks as soon as supply of fiat currency outweighs the demand in maybe 2-3 years. A research was conducted on the vulnerability of Nigeria banks & a 91% hackc success rate was recorded. No where is safe.

From my own knowledge of how the economy of any country works , too much raw cash in circulation would cause inflation in the sense that the cash would outnumber the amount of goods and services in the country , which means the goods and services becomes more valuable than the cash so people would have to pay more to get those goods and services , therefore you spend more to get less , but in this current situation I think what we are experiencing is deflation , where the amount of goods and services is more than the cash in the peoples hand , we can already see it , market women are already complaining that nobody is buying their goods cos people don’t have the cash ,so they have to reduce the price so that people would be compelled to buy , just yesterday my friend went to buy dog feed which cost 23k the buyer told him the new price is 18k now , but if he would pay in cash instead of transfer , they would reduce the price to 15k …
Economists in the house pls correct me if am wrong …