Kavod:

ITS DOESNT AND CAN NEVER AFFECT NAIRAS VALUE... THIS NA THE REGULAR BANKS CONSOLIDATED FUNDS IN ACTION. NOW THEIR THEFT IS BECOMING OBVIOUS. 99% OF THE TIME USING THE ONLINE BANKS YOU CANT SEND MONEY OR RECIEVE MONEY AND IT WONT APPEAR THAT SAME MINUTE, SO PEOPLE ONLY USE REGULAR BANKS FOR SAVINGS DUE TO FEAR OF THE INVINCIBILITY OF ONLINE BANKS WHILE FOR DAILY AND FAST TRANSACTIONS EVERYONE NOW USES ONLINE BANKS, THATS WHERE THE BULK MONEY IS, DAILY TRANSACTIONS...... NOW EVERYDAY ON OUR REGULAR BANKS OUR FUNDS JUST REDUCE AND NO REASON WHY.....
SCREENSHOT YOUR BANK BALANCE TONIGHT AND MAKE SURE YOU ARE USING THE BANKS APP, THEN OFF YOUR DATA THEN COMPARE WHEN YOU WAKE UP AND SEE IF THERE WOULD BE AN ALERT OR REASON WHY THE BALANCE HAS REDUCED.
THIS IS SIMPLY BRIBERY, CORRUPTION AND OPPRESSION.

YOU DE GET? IF YOU CONTINUE USING THE REGULAR BANKS FOR DAILY TRANSACTIONS, FEW GETS HANGED, SOME DELAY, SEVERAL NONSENSE ALERTS ETC.. HENCE YOU CANT KEEP TRACK ON FEW NAIRAS STOLEN.
POS OPERATORS HAVE TAKEN ANOTHER HUGE PERCENTAGE FROM THEIR ATM FEES AND OTHER ONLINE FEES.

THIS IS SIMPLY AN ACT OF DESPERATION....

NIAJA BANKS DONT MAKE ANY GOOD TRADES OR PROFITS THEY ONLY STEAL.
IMAGINE TAKING 10 NAIRA FROM OVER 5 MILLION CUSTOMERS IN 12 HOURS?

i AM NOT GOING BACK TO THOSE OLD USELESS BANK, OPAY TRANSFERS AND MONIEPOINT (POS) SUSTAINED MY BUSINESS, SAVED MY CLIENTS THE STRESS OF DEBIT AND DECLINE .

MY POS COLLECTIONS GIVES ME INSTANT LIQUID CASH AGAINST COMMERCIAL BANKS THAT WILL HOLD MY BALANCE FOR 24HRS.

Thank God I no see palmpay, palmpay is rocking

martineverest:
Make una run remove una money from those Banks

they are better than banks 💯 percent

Umueme:
If this is really going to strengthen the naira and not just a wishful grope in the dark, then it's a welcome development

#MyOpinion

Lol at 'wishful grope'

This government has proven itself to be quite adept at groping in the dark.

It's made up actually of quite skilled gropers. That was how they groped the rightful election winner out; it's how they have groped the economy into the state it is in now.

Nothing surprises anymore

CBN is doing everything but confronting the root cause of inflation.

They leave the root cause and start chasing shadows, blame everything except themselves

Opay and Moniepoint always seemed fraudulent to me. Am I the only person?

It's so unfortunate that those in position of authority to arrest the depressive naira situation aren't demonstrating competence instead chasing shadows in the name of offering silver bullets to the situation.

Monetary policies are only effective to the extent which the fundamentals of currency stabilisation is in operation.You can't be chasing crypto guys and the fundamentals are ignored.


The fundamental questions to be asked by a smart person is this: What is Nigeria's current export indices? Are we consuming foreign goods more than our local goods? How much of our Naira is chasing the dollars under the framework of international trade?


Countries with strong currency have at the base a productive economy that adds huge value in international trade.They may be selling their products or service ( intellectual value like Tech)

How well has our tourism space developed to attract foreign visitors who will convert their currency to naira?

Is it possible that all the keke Napep we drive in Nigeria is produced here and we export them to other African nations?

Why is it that almost all drugs used in Nigeria are mported from India?

Cardoso chase of Binance guys was an unproductive attempt to solve the problem from the branch without attacking it from the root.Now the Naira is gradually returning to it's default setting. Nigeria should start exporting more.

seedsower:


WORST BANK

How?

MaziObinnaokija:
make I go transfer my money from opay go Ecobank..E get why.

opay till tomorrow very excellent richer than any bank in nigeria

PalmPay nko?

If Opay doesnt work, people should move to CASHIR App, its like the fintech version of GTB...An upgrade of moniepoint

After OPay and Moniepoint, they will come for DSTV and accused them of causing the rise in dollar then finally they will blame the air we breathe in.

You see this selected team of CBN and EFCC, they’re the worst and clueless.

So they don’t use Access bank, Zenith Bank and First bank to control the dollar or forex users don’t uses commercial banks? Make una just Dey deceive una self

Ezmans:
opay till tomorrow very excellent richer than any bank in nigeria

I go leave like 5k there .My money
still dey Societe generale bank,idi Araba,LUTH branch. I nor wan take chance

fergie001:


SOURCE

The naira, FG no fit fix d condition they speculating more than the accused.. they should focus on what actually makes the life of a common man better instead of chasing clout...as dollar rise, price remain d sem, e fall, na d sem...Ogini?

tuzle:
So commercial bank cant be used for the above accusations abi? Let them continue deceiving themselves.

It can but it will be difficult... I say this because for instance, you can't have two savings accounts in one bank using your BVN, but for Kuda, opay, fairmoney and palmpay you can comfortably have as many accounts as you want provided you have different phone numbers. With this you can actually launder money.. And the level of monitoring of their activities is very poor

BenuePolitician:
Opay and Moniepoint always seemed fraudulent to me. Am I the only person?

How can Opay, a licensed MFB, be fraudulent?

seedsower:


i AM NOT GOING BACK TO THOSE OLD USELESS BANK, OPAY TRANSFERS AND MONIEPOINT (POS) SUSTAINED MY BUSINESS, SAVED MY CLIENTS THE STRESS OF DEBIT AND DECLINE .

MY POS COLLECTIONS GIVES ME INSTANT LIQUID CASH AGAINST COMMERCIAL BANKS THAT WILL HOLD MY BALANCE FOR 24HRS.

24HOURS KEH?¿ I SAY THEM GO TELL YOU MAKE YOU FEEL FORM THEN WAIT FOR 3-7 WORKING DAYS, TO FRUSTRATE YOU MORE AFTER THOSE DAYS, THEM GO BILL YOU FOR STATEMENT OF ACCOUNT, AFTER THAT THEM GO TELL YOU MAKE YOU GO THE RECEIVER/GIVER SAY MAKE E PRINT E BANK STATEMENT TOO SAY THE MONEY DELIVER/SENT...

OPAY AND MONIEPOINT SAVED ALOT OF BUSINESS WHICH DEPENDS ON DAILY CASH/INSTANT LIQUIDITY.

seborrhic:

What was Nigeria exporting during GEJ and Buhari's time that saw the Naira pick at ₦650 at the parallel market?
The converse question is:did Nigeria suddenly stop exporting when Tinubu came in,to make the ₦ depreciate so bad?
No matter how you look at it,an objective person will know that at least 25% of the Naira's depreciation has been caused by speculators and hoarders,not due to any sudden loss of export and increased imports because Nigeria was even importing more during GEJ’s and Buhari's tenures when ₦ still had some reasonable value.
My only grouse is that the CBN is not doing anything about politicians,goverment officials and even government agencies that mop up the dollar,hoarding it in order to make profit from it or just store till heaven knows when

Nigeria was using her external reserve to support the exchange, that is what Tinubu said he stopped when he floated the naira.
During the time of GEJ, Nigeria was equally selling enough crude that we were seeing enough Petro dollars revenue. Go and check, Buhari has even collected advanced money for the crude we are yet to produce.
It's a simple math, you currency gains value when you have products that people are buying from you, they exchange their currency for yours, this adds value to your currency.

xjiggy:
I don't know about them being used for crypto or money laundry but I just have a natural dislike for digital banks operating in Nigeria

They have come to stay and they rescued you during Naira shortage when commercial banks were fucking up

Darkandhandsom:
Foolish people..
When Jonathan was president did it affect naira?
Everything they are looking for who to blame.
Thunder fire una

Very dumb people why are they not going after buhari and his men that borrowed trillions without anything on ground to show for it which makes nigeria to be using most of it's earnings for debt servicing which is now causing the daily devaluation of the naira?

Nothing should happen to fairmoney ooo that bank is very fast

Stupid and dumb government 😡

Cardaso is a commercial banker according to Oshomole.all the work previous govts have made to increase financial inclusion will be destroyed in one month.
Financial inclusion is one of the parameters of the Digital Economy. Cardaso will bring Nigeria to the knees.
Does he know how much Fintechs contribute to the Nigerian economy.
Never mind, he is of the old school and old economy and will probably destroy what he does not understand

Lavor234:
Cardaso is a commercial banker according to Oshomole.all the work previous govts have made to increase financial inclusion will be destroyed in one month.
Financial inclusion is one of the parameters of the Digital Economy. Cardaso will bring Nigeria to the knees.
Does he know how much Fintechs contribute to the Nigerian economy.
Never mind, he is of the old school and old economy and will probably destroy what he does not understand

Whatever crap this government is doing is not working
Anything they do only make things worse

E no go better for APC voters 😤🤮

GiZcorp:


It can but it will be difficult... I say this because for instance, you can't have two savings accounts in one bank using your BVN, but for Kuda, opay, fairmoney and palmpay you can comfortably have as many accounts as you want provided you have different phone numbers. With this you can actually launder money.. And the level of monitoring of their activities is very poor

You can own two accounts with GTB.

Ohh, so nobi Binance again?

Zoo!

Let me break this down in a plain language.

Tinubu’s govt has asked Opay, Palmpa, Kuda Bank, and Moniepoint to stop new customers from opening accounts on their platforms.

So, if Musa, Emeka, or Tunde wants to register on Opay, they can’t.

The reason they gave was that Nigerians use the platforms for “illegal forex exchange - i.e. Nigerians send and receive dollars and Naira on the platform.

This is a fat lie, actually. Here’s the real truth.

Nigerians are fast accepting and trusting FinTechs like Opay, Palmpay, Kuda, and Moniepoint. This is because they do for Nigerians what commercial banks can’t do - I mean, the likes of GT, First Bank, UBA, etc.

With Opay, for instance, Nigerians can send and receive money in less than 2 minutes - money will enter acct and alert will show. This is what takes commercial banks over 5-30 minutes.

Fintechs like Moniepoint and Opay have reduced the queues in bank ATMs with their POS. So, Musa, Emeka, or Tunde will not need to stress and go to ATM to queue. The ATM sef will still charge them.

Fintechs like Palmpay, Kuda now have a very secure system where people can save money and be rest assured that it’s safe instead of stressing to go to the bank.

So, FinTechs are hugely affecting commercial banks and might just close their business, if care isn’t taken. Their owners had to run to Abuja to beg for help.

Let me stop here for now.

Hope this helps👍

silaswills01:


Whatever crap this government is doing is not working
Anything they do only make things worse

E no go better for APC voters 😤🤮

With this move say bye Bye to fintech venture capitalists.

Fintechs have brought in over 700 million dollars to the Nigerian economy.
Dem no go rest till we become Sudan.at this rate Togo is better than Nigeria.

fergie001:


SOURCE

Why can't FG make demands on Banks to provide better services..... All of them are trash at best.