Lol, fish brains are many in Nigeria. Imagine some even saying fraudsters are hoarding the naira. In case you don't know this policy is another avenue for fraudsters to expand their coast. Most of your citizens are uneducated and primitive, some haven't even entered a bank in years let alone know how to use bank apps or ussd codes to make transfers. Without proper sensitization, you are enacting a policy that will even create room for fraudsters. Yes we need to move forward as a country and as such make sacrifices and adapt to changes around the world, but with the huge numbers of illiterates and primitive people in this country, should this policy be on our burner list for now? If they like let them reduce it to 1k daily, from what experience has taught us those supporting it now, usually end up being the victims.

U enter restaurant order for food, chop finish, u request their Pos, they bring it...
U slot in card, it shows error or issue not found..
U tried again, the same issue..
Boom...u hear alert, u comot phone for ur pocket check, na debit alert from ur bank...

U show the restauranteur, he tells u he hasnt seen any cash, but ur bank don debit u..
This na saturday morning o...

Day still plenty...

I have noticed/witness these countless times cos i run a POS biz...

Emmyxclusive:
He is currently on administrative bail, He was detained for few hours. The whole thing was revealed on human right radio by Hon kazaure Gudaje. Buhari is not the problem of Nigeria.

Source please

Not that it may, it will

yaki84:
U enter restaurant order for food, chop finish, u request their Pos, they bring it...
U slot in card, it shows error or issue not found..
U tried again, the same issue..
Boom...u hear alert, u comot phone for ur pocket check, na debit alert from ur bank...

U show the restauranteur, he tells u he hasnt seen any cash, but ur bank don debit u..
This na saturday morning o...

Day still plenty...

I have noticed/witness these countless times cos i run a POS biz...

Moral of the story
Pay before you chop

U r also restricting cash withdrawals from POS to 20k daily...
If someone needs to pay 25k cash for items he needs , he will be walking up and down slotting his card in more than 3 POS terminals..
Cos one POS wont be able to service his needs..

Sha lets see how it pans out..

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.

Do you know that na APC strategy to block other party access to cash .APC have full access to the new note.

omonnakoda:
Moral of the story
Pay before you chop

What if u pay, food no come dey...

By then those businesses would have adjusted to the policy by making provisions for electronic transactions. And for alms, how much do you give as alms? Do you empty your account to do so?

redsun:


Okay,that is slightly reassuring.But there are so many businesses in nigeria that dont have elctronics facilitiies for transactions.How do you deal with those businesses, and how do you give alms to needies and scrongers ?

Hier:


Artisans would receive wages within the minimum withdrawal per day. Traders all of those small small cashes, should not be above 5k or the 20k minimum withdrawal. Anyone who would receive 10k should be doing sth big, and they should be able to afford an android phone and at least have a little bit of education which would enable them understand how mobile banking operate

Really?

Just becuase you muderfuckers are connected to the internet does not mean you are rea;lly in the 21st century platform. Oyinbo can easily get away with the cashless policies because they have innovated to the that level, but not in that stone age system where you can not even get common elctricity to function.

We must not continue to see the world in oyinbos eyes,rather we have to see the world as it evolves around us and learn to take one step at a time to deal with our problems.

Common eNaira they spent billions to establish, e don crash..

They r talking of cashless economy when 80percent of nigerians r bankless..

Just make sure network is always stable, no pos network issue and Bank apps or ussd code is always working with instant alert,I believe there should be no issues.

yaki84:


What if u pay, food no come dey...

I can see you are very intelligent ...........
which means you should know the next thing

How's owo mi da going to collect owo boys?

Kutunban:
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.

10yrs ago no body knows about transfer, but today even tomato market women dey collect transfer, they should just go and collect POS and learn how to operate it.

You're on point

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.

omonnakoda:
Moral of the story
Pay before you chop

Like seriously of all worst-case scenarios the moral of the day you see here is pay before you chop. What if the same scenario plays out even before he chops? The food you never chop, the money you don pay, the restaurateur says he is yet to receive an alert.

How about those very deep remote village where there's no signal...how will they cope... Nigerian banks need to improve their digital and online failed transaction and recurrent network problem first...it's going to be very hard.

CheapHomes1:

What is the benefit of the policy?

every thing

Only corrupt individuals are against this policy

redsun:


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?

can be tracked

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

Remember that we cope during coronavirus

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.

lol, cool down commie.

all political ideologies are idealistic on paper.
the insatiable greed of man corrupts everything no matter how noble it seems.

Na Election gara gara. After election the policy don die

highness25:
Fake alerts go increase well well.

On a second thought, if I'm going to buy farm produce from Mama at the village, I have to transfer to her? Mama that doesn't even know what bank is not to talk of having an account. These people are useless and anyone supporting this policy is useless

stop using this mama lie


Have ever bought something of 1m from mama and paid in cash

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.

just shut up please

ken6488:
every thing

What is the benefit of the policy?

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.

Honestly, I don't see why anyone should be angry with this policy. I still don't know why people are finding good policy difficult. I seldomly hold cash and I deal with huge funds. I still don't understand. The cash limit of #20k per head is excellent

From experience, any move that doesn't favour the north can be killed. If the effects of this makes unpopular with them, then they dump it. The constitution and sharia is a clear example.

Fiscus105:


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.

You haven't answered the questions.

What are the steps to greatness?

How is cashless policy a step to greatness?

backnbeta:

Really?

Sure, if you would be getting a pay of 10k in today's Nigeria, you should have an android phone and know how to operate one