raumdeuter:


With the level of technology in Nigeria, we cannot implement the cashless thing right now

If network is spotty in Lagos where I assume most of you are living, what do you imagine will be happening in Interior villages were MTN. Glo etc dont even bother to do updates

You buy yam inside village in Nasarawa and say na transfer you wan do

Even for Yankee there are some people that only take cash, Most of my Mexican contractors prefer to get cash only because of various reasons

1. Most dont even have a bank account as they just crossed border recently
2. Their account is either on child support watch and they are trying to hide their income
3. Their account is already overdrawn and any money that enters it, the bank will first take theirs

Some will give you their friends account to pay into, Imagine the type of wahala that can happen when you transfer $8k to your friends account and he stopped picking calls

There was a plumber that I wanted to pay, and I seen the transfer to his friends account he gave me some weeks earlier, Na so the guy begin para say I shouldn't have done that. I should only make the transfer when he is beside the friend so he can drag him to ATM immediately otherwise na gambling get the money wey I just send

Imagine th chaos when doing all these back and forth dragging over google translate

iamoyindamola:

No be fuel, we are used to suffering but anything that involves money
We go react since we no react for fuel since last year is it now we want to react
Knowing you have money but can't access it is very frustrating

iamoyindamola:
My colleague that went to bank is angry because the highest denomination he was given is 20naira
Imagine 20 naira in 100k, my guy is a big man

seankafor:
am surprised no party or state is hoarding stadiums this election like we used to have before

Our democracy has improved a lot I must say

BlueRayDick:


I withdrew 20k new notes this afternoon . I guess some banks load cash at some of their branches while they don’t make cash available at some not so important branches .

The banks too are part of the problem ; it appears they are hoarding the new notes for reasons best known to them .

seankafor:
noticed this too.. even pos transactions are stucked..

Bimffo:


Ah. Ah. Them don move am sef, them still dey beat person for ATM stand and banking hall today.

I didn't see any POS outlet yesterday, because wahala was already happening on Friday.

Egbon, there will be war! I am sure they will burn banks if they didn't move that date.

It might just spring up ENDSARS Part 2.

iamoyindamola:

What denomination did you get

larride:


I was saying it here the other day that there will be chaos, think its because of Tinubu or something.

You want to go cashless when the majority of your population do most of their transaction in cash.

Fuel scarcity and cash scarcity at the same thing. Fùck shit.

sebod:
One funny area people are not paying attention to in this cashless policy issue is the excessive bank charges.
Imagine buying puff puff worth of 150 Naira, the buyer is charged heavily on the transfer of 150 while the seller is also charged 50Naira for receiving just 150Naira. How does the seller make gain after losing 50Naira on every transfer he receives?

sebod:
One funny area people are not paying attention to in this cashless policy issue is the excessive bank charges.
Imagine buying puff puff worth of 150 Naira, the buyer is charged heavily on the transfer of 150 while the seller is also charged 50Naira for receiving just 150Naira. How does the seller make gain after losing 50Naira on every transfer he receives?

EmmanuelScott1:


Wtf is this

50naira charge Is for transfer above 10k naira, anything less no charge.

izzou:
As much as the policy is not funny, we should tone down with the exaggerations

Puff Puff and Wara sellers have their pricing between 100 and 50 naira. So where is the transfer of 50 naira coming from?

People are adjusting quickly in Lagos. So far, GTB has been fine. All the transfers I did today went in less than 2 minutes

February 10 will come and go, and we will still move on.

sebod:
One funny area people are not paying attention to in this cashless policy issue is the excessive bank charges.
Imagine buying puff puff worth of 150 Naira, the buyer is charged heavily on the transfer of 150 while the seller is also charged 50Naira for receiving just 150Naira. How does the seller make gain after losing 50Naira on every transfer he receives?

iamoyindamola:

50n is above 50k not 10k
Gtb, alat by wema have never charged me 50n for 10k transactions

iamoyindamola:

50n is above 50k not 10k
Gtb, alat by wema have never charged me 50n for 10k transactions

EmmanuelScott1:


I can't say for gtb (not my bank) but all banks do charge 50naira (stamp duty) for deposit above 10k as authorized by FG.

Wema nah online bank nah (it's up to em), kuda bank even charge these days.

Itsrm:


First bank dey charge on 10k transactions. When I have to send money between two First bank accounts due to ATM issues(One has ATM and the other does not), I usually send in N9,000s no matter how long it takes to arrive at the total amount I intend sending. I don't have 50 naira to dash this useless government.

iamoyindamola:

Deposit not transfer
I can't remember the last time I do deposit

sebod:
One funny area people are not paying attention to in this cashless policy issue is the excessive bank charges.
Imagine buying puff puff worth of 150 Naira, the buyer is charged heavily on the transfer of 150 while the seller is also charged 50Naira for receiving just 150Naira. How does the seller make gain after losing 50Naira on every transfer he receives?

liveLongNprospa:


E be like say your gtb different from me and my wife own

iamoyindamola:

All these ancient banks way go give me hbp I no they do them
First bank, union bank, uba na those government workers bank

Segedinho:

Why will u make a transfer of 150 when d old 100 n 50 is affected

izzou:


Yes, it is

Everything i did on that account went in minutes.

raumdeuter:
I just saw a video of Obi saying age is not a problem in governance that track records is what matters

And he used the US as an example and also said most of the top economies do not have anyone under 65yrs as president

Abeg so whats the issue with Tinubus age again

GloriousGbola:


Izzou big pimpin with urgent 2k

EmmanuelScott1:


Aaa all deposits nah, wether cash or transfer.

izzou:


I remembered i had a Fairmoney account

I say make i dey top am with small small cash, especially as we are strolling into a new era.

I will most likely be using that account for very petty transactions, instead of GTb killing me with 10.75 every time

They offer 30 free transfers every month.