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Nairaland Forum / Nairaland / General / Business / CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India (21922 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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Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Jimmythewise: 2:12pm On Dec 17, 2022 |
Vilgax:There are societies that are better than others. The democratic ones usually end up on the least. |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Emmyxclusive: 2:13pm On Dec 17, 2022 |
omonnakoda:go to YouTube and watch Huan right radio program that was aired on Wednesday 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by ken6488(m): 2:13pm On Dec 17, 2022 |
Advocate500:yes they will what of his agents |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by zionstaar75: 2:17pm On Dec 17, 2022 |
dre11:any policy USA doesn't support is good for the country. They only support bad policies for other countries |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by jibrilELsudan: 2:20pm On Dec 17, 2022 |
YOU NIGERIANS ARE JUST THE MOST FOOLISH PEOPLE ON THE FACE OF THIS PLANET HOW MANY NIGERIANS SINCE THE HISTORY OF NIGERIA CAN AFFORD TO WITHDRAW 20,000 NAIRA EVERYDAY OR 100,000 NAIRA EVERY WEEK OR 400,000 EVERY MONTH? HOW MANY NIGERIANS SINCE THE HISTORY OF NIGERIA THAT 20K...100K....400K ENTERS THEIR ACCOUNT EVERY DAY...WEEK OR MONTH? HOW MANY NIGERIANS TODAY OR EVEN BEFORE BUHARI BECAME PRESIDENT CAN BOAST OF HAVING JUST 100K ENTER THEIR ACCOUNT EVERY MONTH? 4 Likes
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Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by PeterObi4LP: 2:24pm On Dec 17, 2022 |
Okoroawusa: Tinubu will not like this your comment. |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by leisuretym: 2:24pm On Dec 17, 2022 |
Ignore the western media, they always what us to fail , Nigeria should go ahead with the policy and if it didn’t work we can reserve it. All criminals must be apprehended Yahoo boys must return to farm. Politicians will not find looting easy anymore |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Bfly: 2:25pm On Dec 17, 2022 |
When a country as failed they want to impose on others what they think will work. Manupulating the naira against the people is not the way out. We lack good road; imagine what raining season did to us. We lack good education; imagine ASUU We lack electricity; imagine some some local government Areas don't have light. Now the government thinks weaponising the banking system will make people produce. We are basically Consumers country. If i could deposit 500k at a go why do i have to wait 5 days to get my money back. What a failed country. God help us. 2 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Vilgax: 2:26pm On Dec 17, 2022 |
Jimmythewise: that's debatable... while I agree democracy is far from the perfect system, humanity as a whole has made considerable progress under its influence. 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by IranianSea: 2:30pm On Dec 17, 2022 |
Ade1177:Thanks you. I want you to understand the statement " Cash withdrawal" it's not the same is transfering from your account to another account. You can transfer 10millions to another account but you can't have that amount in cash at hand ( physically) 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by victooman: 2:31pm On Dec 17, 2022 |
Hier:see as you dey talk like one useless fool,, they should have an Android phone and have a bit education? you think Nigeria starts and end in ur locality,,? all this local champion that haven't leave the environment of Abuja or lagos,, who will give them that education?? ur father or who? |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by highness25(m): 2:35pm On Dec 17, 2022 |
ken6488:Mama has people that works for her. I've bought something worth 600k from Mama. She doesn't have account, I paid cash. After work, her accountant goes to give account in her office at the village and she submits cash to her. |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by redsun(m): 2:42pm On Dec 17, 2022 |
joyousever: The money I give to people nigeria does add up,you know. But that is good because I have a remorseless excuse to save up more. However, it is going to take a long time for small businesses to adjust to the electronics system, so the central bank should have extended the time the policy will take effect. |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by grandstar(m): 2:56pm On Dec 17, 2022 |
Okoroawusa: A decorated donkey is still a donkey. A rotten policy is still a rotten policy. Money outside the banking system is not the reason for high inflation but rather high budget deficits and Buhari perpetual incompetent intervention in determining the exchange rate. He should go tend to his cows when he's retired 3 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by ken6488(m): 2:59pm On Dec 17, 2022 |
highness25:that a lie anyone getting 100k above can easily get an android device Things are changing every day 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Jimmythewise: 3:01pm On Dec 17, 2022 |
Vilgax:There is no doubt to your claim. Take America for example, progress has been stamped. |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by backnbeta(f): 3:08pm On Dec 17, 2022 |
Hier:I have just sent someone to withdraw the sum of 8k for a general cleaning lady who doesn't have a bank account...she's right here, waiting. I have withdrawn money today at the market. Thankfully, zartech takes transfer and foodco. I'm literate, I have a bank account but sometimes I deal with people who don't. This policy has probably come to stay, but it means I will only patronize people who have bank accounts...where does that leave the cleaners? The petty traders? I say again; this is neither the right economy nor the right time to enforce cashlessness...it should come after serious sensitisation ![]() 3 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by billyG(m): 3:09pm On Dec 17, 2022 |
How can an iliterate 70yrs old mama learn how to operate an android phone & learn how to use mobile app or ussd?is that not rocket science? 2 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by EKONGKING: 3:13pm On Dec 17, 2022 |
jumper524: The basis of ur point is correct. Never trust Western media , they will twist the truth and sell their agenda. The article said the policy is failed in India ,however the opposite happened and happened exactly as u pointed out. Major difference is India started opening bank accounts for all its people about 1 year before and Nigeria has only 6 months left. 3 Likes |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by IbeOkehie: 3:16pm On Dec 17, 2022 |
jumper524: You must also consider the implications for FREEDOM. Online mediated transactions can easily become an instrument of government control and oppression. Think of a situation where government can just BLOCK their opponents or a particular tribe from money transactions. It can happen, especially in a place like Nigeria where the population is extremely passive on anything that doesn't directly affect them individually. At the very least, let THE PEOPLE make their own decisions. If cash transactions are so bad then people would abandon it. There's reasons for everything. Basically the government should use incentives and not force and always bear in mind that it's always better for people to have OPTIONS, choice is always a good thing. 4 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by GeneralDae: 3:20pm On Dec 17, 2022 |
xperiencelove:Exactly. This policy is just great, Nigerians do better when they are forced or put under pressure. If we take the bull by the horn now, then Nigerians in the rural areas would adjust. 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by GeneralDae: 3:22pm On Dec 17, 2022 |
backnbeta:It is the best for our economy, because when they adjust we would formalize a lot of sectors in Nigeria. 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by Ade1177: 3:22pm On Dec 17, 2022 |
IranianSea:Transfer requires bank network and mobile app I can count so many times that mobile app won't open for hours 3 Likes 1 Share |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by GeneralDae: 3:23pm On Dec 17, 2022 |
donleo92:Those women at oil mill should have bank accounts so that they can be taxed. 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by GeneralDae: 3:29pm On Dec 17, 2022 |
CheapHomes1:Too many benefits mehn. |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by GeneralDae: 3:31pm On Dec 17, 2022 |
Seun:Our economic situation is in a better direction now than where Jonathan left it in 2015. Then 27 states needed bailout for salaries because they were bankrupt. 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by CheapHomes1: 3:33pm On Dec 17, 2022 |
GeneralDae:If they are, how come you can't answer the question...What is the benefit of the policy? |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by toprealman: 3:36pm On Dec 17, 2022 |
Okoroawusa:Better still Ian or Afghanistan! Corrupt people everywhere. 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by GeneralDae: 3:36pm On Dec 17, 2022 |
joyousever:Exactly, kidnapping would reduce drastically. |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by CheapHomes1: 3:38pm On Dec 17, 2022 |
GeneralDae: How is the economic situation in a better direction now that it was in 2015? How is the 27 states needing bail out an indication that the economy in 2915 wasn't in the right direction? Was the FG under Jonathan responsible for states needing bail out? |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by GeneralDae: 3:40pm On Dec 17, 2022 |
CheapHomes1:Kidnapping would reduce. More taxes for the Government and less dependence on oil. Easier financial data collection for growth. New fintech innovations. A more formalized economy. Discourages bribery and corruption. Opens the way for a credit based system/economy. Too numerous mehn. 1 Like |
Re: CBN Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India by CheapHomes1: 3:41pm On Dec 17, 2022 |
GeneralDae: How do nigerians do better when they are forced? When they are forced to do what? |
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