Is economy moving before?

people should learn that life is not static, people should brace up for new challenges as world evolves.


You are craving for way of lifestyle in advanced country and you dnt want to follow their steps to greatness.

Certainly

India or Pakistan ?

Let's try and see ... I never trust anything coming from those who never saw 9/11 coming but always see terrorist attacks in other nations .

ParrotGirls360:
To the person above me, there is nothing to adjust to. It is not going to work out.

You are one of those hindering the progress of Nigeria and ensuring that we remain in dark age. Common cashless economy, you are standing against it.

I’m impressed reading optimistic comments.

dre11:
Nigerian Central Bank Policy On Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India—Report




https://saharareporters.com/2022/12/15/nigerian-central-bank-policy-cash-withdrawal-limits-may-hinder-economic-growth-it

Fear of the unknown and resistance to change: same way people abhorred the introduction of debit cards then even some bankers. It's a good policy. Mpesa is a massive success in Kenya and parts of East Africa.

Okoroawusa:
That policy has come to stay. Anyone that doesn't like it can relocate to India

What is the benefit of the policy?

jumper524:
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.

What is the benefit of the policy?

seandurse:
How can it hinder economy that is hindering already? How, just how again���

You think our economic situation can't get worse than it is today? That's what many people thought at the end of Jonathan's presidency.

I am sure they are especting the econmy to go the zimbabwean way soon ,especially if the doomed masses will still be dumb enough to allow a rogue like Tinubu or Atiku to run the crime inc nation again. The policy is absurb and can only work in a failed economic situation.100k can't cover two shopping trips for essentials things in shoprite for a week for a normal individual. It is unimaginable, and somewhat extortionate with the percentage they will be asking for exceeding the withdrawal limits.

xperiencelove:
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.

What is the benefit of the policy?

The policy will cut down on bribery, both political and in business circles.
Currency/paper & coins and forms of trading have changed for many centuries and the earth still spins on her axis. Humans adapt.

xperiencelove:
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.

What is the benefit of the policy to Nigeria and Nigerians?

ZooOga:
The policy will cut down on bribery, both political and in business circles.
Currency/paper & coins and forms of trading have changed for many centuries and the earth still spins on her axis. Humans adapt.

How will the policy cut down on bribery?

jumper524:
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.

Very correct

Jimmythewise:
Democracy is the greatest sin against mankind. Once the number of fools outnumber the intelligent, boom you have a catastrophic environment to live in.

Strong democratic countries invest in education and promotion of family planning for this very reason. Fools can be made wise by educating them. Then they will vote right and demand what they deserve from govt.

treatise:

Fear of the unknown and resistance to change: same way people abhorred the introduction of debit cards then even some bankers. It's a good policy. Mpesa is a massive success in Kenya and parts of East Africa.

How will the policy benefit nigeria and Nigerians?

God1000:
It won't work sef

If it won't work, it will cause largely by bank officials, if CBN can carry out covertly and overtly operations to get erring bank officials and deal with them accordingly, it will definitely work, though it may be tough initially.

Nawa o

Fiscus105:
Is economy moving before?

people should learn that life is not statics , people should brace up for new challenges as world evolves.


You are craving for way of lifestyle in advanced country and you dnt want to follow their steps to greatness.

What are the steps to greatness? How is cashless policy a step to greatness?

Ernchibyke:
People will adjust over time.

No wonder they keep churning out these policies cos they know people will adjust inside the cage

This policy will be the biggest failure of all cbn failed policy in the history of Nigeria

dre11:
Nigerian Central Bank Policy On Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India—Report




https://saharareporters.com/2022/12/15/nigerian-central-bank-policy-cash-withdrawal-limits-may-hinder-economic-growth-it

Economic growth ko, economy growth ni?

Abeg make them wait until after elections so all the bullion van loot will become more worthless.

jumper524:
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.

don't be subjective about your opinion,since opinion changes with realities.

You are all criticizing ordinary cashless policy.
What if we start compulsory insurance, compulsory resident registration and postcode policy, compulsory taxation and so on.
If we want to really be a developing Nation, then we must brace up. There are sacrifices to be made and this is just one of them.
Go to the UK, highest note u see in people's wallet is £50 and it's for unforeseen circumstances. Cashless policy is already outdated in most serious economy. So this policy is a welcome development.
My only concern is to ensure smooth broadband internet infrastructure to ease full implementation.

PrettyBolu:
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.

But do you know that some top politicians may have also
stockedpiled the new notes in their homes?

Okoroawusa:
That policy has come to stay. Anyone that doesn't like it can relocate to India

We really do not know that do we? There will be a new government in a few months

Paretomaster1:
By now, no ATM should dispense old note anymore, but Nigeria banks are still stocking ATM with old notes.

we still have till next yr Jan 9 bro, the moment cashless starts banks will comply.

CheapHomes1:


What are the steps to greatness? How is cashless policy a step to greatness?

The way political elited and yahoo boy are hoarding cash and spend it recklessly is the way to greatness abi?

Why always going against every govt policies?

If u re not comfortable with the policy leave the country nah, Niger, Chad, Cameroon are countries u can reach with car or lorry,these countries are not going that direction monetarily.

This will be reversed after election

The sweetest part of this policy is that, it has come to frustrate the kidnapping industry which is being sponsored by the power brokers kicking and frowning against it .Duh

ZooOga:
The policy will cut down on bribery, both political and in business circles.
Currency/paper & coins and forms of trading have changed for many centuries and the earth still spins on her axis. Humans adapt.

So does it mean there is no limit on electronic tranfers and cards transactions. How about the majority of businesses in nigeria that do not accept card payments?