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Nairaland Forum / Nairaland / General / Business / CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India (21899 Views)
Nigerians Lament As Banks Slash Withdrawal Limits Ahead Of Christmas / CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly / How To Withdraw Above CBN Cash Limits (2) (3) (4)
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CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by dre11(m): 9:19am On Dec 17, 2022 |
Nigerian Central Bank Policy On Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India—Report A report by the Washington Post titled, ‘Why Nigeria Is Clamping Down on Its Vast Cash Economy’ which was published on Thursday morning has explained how the country’s Central Bank policy on cash withdrawal limits may hinder Nigerian economic growth. https://saharareporters.com/2022/12/15/nigerian-central-bank-policy-cash-withdrawal-limits-may-hinder-economic-growth-it 7 Likes 1 Share
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Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by God1000(m): 9:20am On Dec 17, 2022 |
It won't work sef 16 Likes 3 Shares |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Okoroawusa: 9:24am On Dec 17, 2022 |
That policy has come to stay. Anyone that doesn't like it can relocate to India 113 Likes 6 Shares |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Reporting34(f): 12:41pm On Dec 17, 2022 |
Please everyone don't mind this fraudsters Anthony okeke is back with a full forces to continue scamming Nairaland people with the same format he has always been using, so just check the format oloriburuku man is still using to defraud a lot of people's here on Nairaland just be aware not to be scam Please dear everyone, please forgive me for posting this, if I can help myself I won't be begging. I am seeking assistance from well meaning Nigerians to help save my life. Please sirs and ma's, my name is Faith , am a 26 years old single mom of 1. My son is just 2 years old. I used to be a hairdresser before my present predicament. In August of 2021 I fell very sick and was rush to the hospital by my neighbour. Doctor said that I will have to be admitted because by the time that they have prescribed several drugs for me, my hands and both of my legs has developed rashes and started to swell up. The swelling got worst and more severe as time went by, eventually leading to multiple skin ulcers. Preliminary results shows that I was diagnosed with blood infection. I also urgently require prolonged sore Management with Vacuum Assisted Closure Device and skin graft to help regain my normal life again but unfortunately I can't treat myself because I don't have enough on me. Doctor said the procedure will require 1.3million Naira to give me my life back and so far I've been able to raise only 300 thousand with the help of my friends and some kind hearted well wishers who have taken pity for me in the past few months. Pleas sirs and ma's, am an orphan both my parents are late. I have been trying every possible best to raise the remainder to no avail. I don't have any property to sell again and I cannot work in this my condition pls I beg of you, I can't even look after my 2 years old son, that's why am pleading with any well meaning person pls Don't even send a penny to this fraudsters 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Ernchibyke(m): 12:42pm On Dec 17, 2022 |
People will adjust over time. 13 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by jumper524(m): 12:43pm On Dec 17, 2022 |
NIGERIA ain't India, and if the cashless policy is not imposed on us, then it may never happen. There would always be critics to state how itll affect us. The benefit of this cashless policy is way too large to consider its little downturn. Nigeria besides have the fastest growing improving banking system in the world.. make the policy and see wide range improvement. Soon mobile wallets would have a platform where you can pay bike and car drivers as little as 200 via transfer without charges. The policy has both short and long term benefit while the downside is only shortie as we are one of the best in adaptation. No rook for thieves hoarding cash any longer. Only advice I can give any old school is to get a good android phone and also learn how to use and secure it. The world is pushing forward and sometimes people are left behind, don't be left out. 100 Likes 12 Shares |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by seandurse(m): 12:43pm On Dec 17, 2022 |
How can it hinder economy that is hindering already? How, just how again��� 12 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by flemsy15(m): 12:43pm On Dec 17, 2022 |
It's gonna be hard to for Nigerians to adjust if the new rules are implemented. But I trust Nigerians to always find a way to 'outsmart' the law. Las Las , we go still survive either way 6 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by xperiencelove(m): 12:44pm On Dec 17, 2022 |
If you do a legit business with huge funds, learn how to use digital money. I know beforehand that fraudsters and money lunders will find this policy hard on them and they will pay those useless media houses to publish lies about it. 21 Likes 2 Shares |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Jimmythewise: 12:44pm On Dec 17, 2022 |
Okoroawusa:Democracy is the greatest sin against mankind. Once the number of fools outnumber the intelligent, boom you have a catastrophic environment to live in. 97 Likes 14 Shares |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Reporting34(f): 12:44pm On Dec 17, 2022 |
Okoroawusa: seandurse: |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by PlayerMeji: 12:44pm On Dec 17, 2022 |
no b lie |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by PrettyBolu(f): 12:44pm On Dec 17, 2022 |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by ParrotGirls360(f): 12:45pm On Dec 17, 2022 |
To the person above me, there is nothing to adjust to. It is not going to work out. 9 Likes 2 Shares |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by tejumorelar: 12:45pm On Dec 17, 2022 |
We are in Nigeria and not India.... Some people are just pained cos it'll affect their plans. 6 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Kutunban: 12:47pm On Dec 17, 2022 |
Intelligent move by the CBN, however, Most rural farmers and traders can't even make transfer with USSD, they deal with Cash, especially the livestock market in core north of Nigeria. Most banks have network issues especially weekends. How does the government intend to manage such? Our technology is not vast like that of India. It's really going to be challenging. 23 Likes 2 Shares |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Highways: 12:47pm On Dec 17, 2022 |
Okay... Naija is nosediving.... 2 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Paretomaster1(m): 12:47pm On Dec 17, 2022 |
By now, no ATM should dispense old note anymore, but Nigeria banks are still stocking ATM with old notes. 19 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by MiaBeer(m): 12:47pm On Dec 17, 2022 |
2 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by LaSenior: 12:47pm On Dec 17, 2022 |
1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by backnbeta(f): 12:48pm On Dec 17, 2022 |
So many illiterate and semi illiterate artisans out there operate with cash! Market women, labourers, food vendors...how will they manage? Yes, People will adjust eventually; but is it the best for an economy like ours? 8 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by GIANTPLUSHUB: 12:48pm On Dec 17, 2022 |
Hmm 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by PrettyBolu(f): 12:48pm On Dec 17, 2022 |
As far as it will stop Tinubu from buying votes, it is a welcome development. No more bullion van. All the money Tinubu gathered that he wants to use to influence 2023 election is wasting away now. That is why he told his boy, Femi Gbajabiamila to kick against it. You saw when House of rep kicked against it. It was Tinubu that instructed his boy to kick against the CBN limit. 16 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by MrBroke(m): 12:49pm On Dec 17, 2022 |
If you don't like this policy fucking go to hell, everything you guys want to complain about shit you know nothing about 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by donleo92(m): 12:49pm On Dec 17, 2022 |
those guys in cbn are daft.. there is nothing bad with this policy, but these thing should be done in phases. And more education of these policy to the market women. I was around oilmill market yesterday, those women were just raining insults on the cbn governor. I feel people should be given time, and appropriate measures should be put in place to educate ppl 15 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Hier(m): 12:50pm On Dec 17, 2022 |
You can make as much electronic transfer as usual, but not in cash If you want to buy anything above, 5k, the seller should know how to use the banking app 6 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Ochemicals: 12:51pm On Dec 17, 2022 |
Jimmythewise: True talk 9 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by theophorus(m): 12:51pm On Dec 17, 2022 |
Yeye comparison. Abeg we in 2022, anyone still interested in carrying Millions of cash should be arrested. Do you know how many Nigerians have hundreds of thousands in cash at home? Abeg, 100k cash is enough for a week, any other transaction should be online. Na those bank charges make them Reduce. 9 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by house10studios: 12:51pm On Dec 17, 2022 |
Lol 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Pierocash(m): 12:52pm On Dec 17, 2022 |
POS outlets are everywhere,no one needs to treks miles to the bank just to make a deposit when POS agents can simply do that. Only politicians and terrorists can only be uncomfortable with this policy 15 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by IranianSea: 12:53pm On Dec 17, 2022 |
dre11:It will work. Nigerians can easily adapt when they have no choice. Cashless is here to stay. I'm glad house of Reps supported it. 9 Likes 1 Share |
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