forgiveness:



What makes you think Ibadan is a civil servant oriented city like Enugu?

I think some dude should get there fact before coming here to type, some of you haven't slept 4 a night in dis cities yet to talk of how viable they are economically.

basilo101:
We already kw CBN list of states with d bulk of cash in circulation

abeg you fit link me

forgiveness:


International markets?

Importers and exporters?

What America ecomony big is simply because they are producing nation and importing nation?

The question should have been, what are the things produced in Ibadan?

Read the person I quoted, the two eastern states listed by CBN boasts the highest number of indigenous industries, craftsmen with international markets Aba, Nnewi and Onitsha

ZiggyMr:
I think some dude should get there fact before coming here to type, some of you haven't slept 4 a night in dis cities yet to talk of how viable they are economically.

bros, na for ib i marry born pikin and live for 4years. As for Onisha i dey pass am visit am every month.

So, I know what i am talking about.

FKO81:

read the person I quoted, the two eastern states listed by CBN boasts the highest number of indigenous industries, craftsmen with international markets Aba, Nnewi and Onitsha

Holistically(indigenous and multinational) Ibadan is economical Viable than Aba, Nnewi and Onisha when we talk about economical viable cities in Nigeria.

What year was that CBN report? 2013?

mikolo80:
abeg you fit link me

Cashless Policy Kicks Off In Six States
The Central Bank of Nigeria (CBN) cashless

policy program on Monday kicked off in the Federal Capital Territory, Kano, Anambra, Abia, Rivers, and Ogun states.
despite the House of Representatives call last week that the CBN to implement the policy in phases and remove charges or limits on daily cumulative withdrawals and deposits to encourage small businesses.

owing to challenges, ranging from poor ICT infrastructure to network issues, the CBN says the project will focus on key commercial and urban centers of Onitsha, Kano, Port Harcourt, Abuja and Aba.

The cashless policy was introduced in Lagos in January 2012 with specific limits and charges for individuals or corporate organisations that want to withdraw or lodge cash above prescribed limits.

Under the policy, the CBN pegged the daily cumulative cash withdrawal or deposit limit for individual accounts at N500,000 per day and N3 million per day for corporate accounts.
http://www.channelstv.com/2013/07/01/cashless-policy-kicks-off-in-six-states/

wiseoneking:
Lagos is a city but not ijora, surulere, yaba as you just wrote. You are wrong. When we talk of lagos as a city, you dont include those towns and counties.

Towns and counties? Where are you from? You come from Abakaliki to come and tell us the story of Lagos? Do not allow me to invoke a Lagoon Curse on you. It is just like I said. We do not have "counties in Lagos state.
Lagos State was formed in 1968. Prior to that there was the Municipality of Lagos which was a Federal Capital territory which ended somewhere around where Fela's house used to be after that you were in the Western region. In fact people running from Western Region Tax collectors crossed the boundary from Mushin Olosha and they were in Lagos cross the other way and they were in the Western Region. LUTH compound was another boundary. University of Lagos founded in 1962 was inside the Federal Capital. That is what is meant by Lagos City so please do not argue about issues you know nothing about.
Ijora Yaba and much of Surulere are in the City of Lagos

.....nairaland.. 1of d most tribalistic forum.......amala eaters..akpu eaters..Igbos....hairy chest......laffin in swahili nd rollin on floor..GOD BLESS NIGERIA..

Jonalistic:
oga point of correction wen dey say oba of lagos it means oba of lagos state nt lagos island.pls make ur research nd type with facts.

U ar wrong it's Oba of Lagos Island other towns in Lagos State have their own Oba e.g Akran of Badagry, Ayangburen of Ikorodu, Olu of Ikeja, Oloja of Eko Epe, Olu Agege of Agege, Elejinrin of Ejirin, Olu of Mushin, Alaketu of Ketu, Onigando of Igando, Alara of Ilara but their chairman is Oba of Lagos for Lagos State council of Obas

liberty300:
Lol...

Here's the list here, according to none oil IGR

1. Lagos (technically not a city)

2. Onitsha

3. Aba

4. Nnewi

5. Ogun state (Abeokuta): the steel industry

Olodo... There is Lagos city.. Like you have New york city...
Lagos city = New York City ... In this case..

pus97:


First of all that city is not in Nigeria. It is in western Nigeria.

First of all, that city is not Lagos. It is call Victoria island.


There is a difference between Lagos island and Lagos state.

When they say Oba of Lagos. They are not talking about Lagos state, they are talking about Lagos island.

Lagos state is divided into cities

Victoria island is a city.

Lagos island is a city
Ikorodu is a city.
Ikeja is a city

Where are my Agege City peeps at?

FKO81:

Cashless Policy Kicks Off In Six States
The Central Bank of Nigeria (CBN) cashless

policy program on Monday kicked off in the Federal Capital Territory, Kano, Anambra, Abia, Rivers, and Ogun states.
despite the House of Representatives call last week that the CBN to implement the policy in phases and remove charges or limits on daily cumulative withdrawals and deposits to encourage small businesses.

owing to challenges, ranging from poor ICT infrastructure to network issues, the CBN says the project will focus on key commercial and urban centers of Onitsha, Kano, Port Harcourt, Abuja and Aba.

The cashless policy was introduced in Lagos in January 2012 with specific limits and charges for individuals or corporate organisations that want to withdraw or lodge cash above prescribed limits.

Under the policy, the CBN pegged the daily cumulative cash withdrawal or deposit limit for individual accounts at N500,000 per day and N3 million per day for corporate accounts.
http://www.channelstv.com/2013/07/01/cashless-policy-kicks-off-in-six-states/

thanks but...wondering why ibadan not on the list

forgiveness:


Holistically(indigenous and multinational) Ibadan is economical Viable than Aba, Nnewi and Onisha when we talk about economical viable cities in Nigeria.

What year was that CBN report? 2013?

Did you just mention Ibadan before Aba, Onitsha and Nnewi? What travesty! I will forgive you as your moniker suggests but i'm not a longsufferer

FKO81:

How many did your father built? You want to use city with three skyscrapers and highest shanties and compare it with state with highest numbers of highrises in Nigeria

shut up!
it can be the village with the highest number of high rise huts in alaibo.
but stop generalising please.
go to minna and ask any local that where's Onitsha or nnewi and he will just be looking at you like an alien.
but the locals sure know Ibadan as the largest city in W/AFRICA & Lagos as the commercial nerve of Nigeria.
what's your villages known for?

Yeske2:
Did you just mention Ibadan before Aba, Onitsha and Nnewi? What travesty! I will forgive you as your moniker suggests but i'm not a longsufferer

Yes na! or do you think otherwise?

mikolo80:
thanks but...wondering why ibadan not on the list

Apex bank knows the states with highest volume of cash transactions in the country, this is not political list, Sanusi was in charge then, if it was political he would have added more northern states to the list,

WIZGUY69:


shut up!
it can be the village with the highest number of high rise huts in alaibo.
but stop generalising please.
go to minna and ask any local that where's Onitsha or nnewi and he will just be looking at you like an alien.
but the locals sure know Ibadan as the largest city in W/AFRICA & Lagos as the commercial nerve of Nigeria.
what's your villages known for?

,

The Central Bank of Nigeria (CBN) has introduced a new policy on cash-based transactions which stipulates a ‘cash handling charge’ on daily cash withdrawals that exceed N500,000 for Individuals and N3,000,000 for Corporate bodies. The new policy on cash-based transactions (withdrawals) in banks, aims at reducing (NOT ELIMINATING) the amount of physical cash (coins and notes) circulating in the economy, and encouraging more electronic-based transactions (payments for goods, services, transfers, etc.)



Why the Cash Policy?


The new cash policy was introduced for a number of key reasons, including:

1.To drive development and modernization of our payment system in line with Nigeria’s vision 2020 goal of being amongst the top 20 economies by the year 2020. An efficient and modern payment system is positively correlated with economic development, and is a key enabler for economic growth.
2. To reduce the cost of banking services (including cost of credit) and drive financial inclusion by providing more efficient transaction options and greater reach.
3. To improve the effectiveness of monetary policy in managing inflation and driving economic growth.


In addition, the cash policy aims to curb some of the negative consequences associated with the high usage of physical cash in the economy, including:
•High cost of cash: There is a high cost of cash along the value chain - from the CBN & the banks, to corporations and traders; everyone bears the high costs associated with volume cash handling.
•High risk of using cash: Cash encourages robberies and other cash-related crimes. It also can lead to financial loss in the case of fire and flooding incidents.
•High subsidy: CBN analysis showed that only 10percent of daily banking transactions are above 150k, but the 10percent account for majority of the high value transactions. This suggests that the entire banking population subsidizes the costs that the tiny minority 10percent incur in terms of high cash usage.
•Informal Economy: High cash usage results in a lot of money outside the formal economy, thus limiting the effectiveness of monetary policy in managing inflation and encouraging economic growth.
•Inefficiency & Corruption: High cash usage enables corruption, leakages and money laundering, amongst other cash-related fraudulent activities.



Content of the Cash policy


The following aspects of the policy was applied from January 1st 2012 in Lagos State (“tagged Cash-less Lagos”):
•Only CIT licensed companies is allowed to provide cash pick-up services. Banks will cease cash in transit lodgment services rendered to merchant-customers in Lagos State from December 31st 2011. Any Bank that continues to offer cash in transit lodgment services to merchants shall be sanctioned.
•3rd party cheques above N150, 000 shall not be eligible for encashment over the counter. Value for such cheques shall be received through the clearing house.

The service charge took effect from March 30th, 2012, this gave people time to migrate to electronic channels and experience the infrastructure that has been put in place. Banks were to use this period as grace to encourage their customers to migrate to available electronic channels, and where possible, demonstrate the costs that will accrue to those that continue to transact high volumes of cash from March 30th, 2012 in Lagos State.

In addition, below are some detailed context and pertinent clarifications on the policy:
•Location ◦The pilot was run in Lagos State from January 2012 while the policy took effect in Rivers, Anambra, Abia, Kano, Ogun and the Federal Capital Territory (FCT) on the 1st July, 2013. The policy will be implemented nationwide on July 1st, 2014.

•Account Application ◦The cash-policy applies to all accounts with exception to Government revenue generation account, Primary Mortgage Institutions, Microfinance Banks and Embassies. Banks should therefore work with their corporate customers to arrange for suitable e-collection options.

•Limits ◦The limits are cumulative daily limits each for withdrawal(e.g. for Individuals, the daily free withdrawal limit is N500,000)
◦The limits apply to the account so far as it involves cash, irrespective of channel (e.g. over the counter, ATM, 3rd party cheques encashed over the counter, etc) in which cash is withdrawn (e.g. if an individual withdraws N450,000 over the counter, and N150,000 from the ATM on the same day, the total amount withdrawn by the customer is N600,000, and the service charge will apply on N100,000 - the amount above the daily free limit). The limit also applies to cash brought through CIT companies, as the CIT company only serves as a means of transportation.

•Charges ◦The charges started to apply from March 30th 2012 in Lagos, October 1st 2013 in Rivers, Abia, Anambra, Ogun, Kano and the FCT.
◦The service charge for daily withdrawals above the limit into an account shall be borne by the account holder.
◦Please note that the policy does not prohibit withdrawals above the stipulated amounts, but that such transactions will be subject to cash handling charges

http://www.cbn.gov.ng/cashless/

forgiveness:


Yes na! or do you think otherwise?

This is for Anambra alone

http://nationalmirroronline.net/new/minister-hails-rising-anambras-gdp/


http://www.channelstv.com/2013/07/01/cashless-policy-kicks-off-in-six-states/

Digest this two for now


Not so sure that business transaction in Oyo state alone is up to that of Ebonyi state

FKO81:
,

forgiveness:

Yes na! or do you think otherwise?

are you a pastor? you do respect those iboe children a lot. give them what they deserve. stop dancing to there tune.

WIZGUY69:


are you a pastor?
you do respect those iboe children a lot.
give them what they deserve.
stop dancing to there tune.

I am that i am.

forgiveness:


International markets?

Importers and exporters?

What makes America ecomony big is simply because they are a producing nation and not importing nation?

The question should have been, what are the things produced in Ibadan?

What makes Ibadan economic viable than Onisha?

most of u dnt kw Onitsha. Onitsha has Industries, check this pic out

WIZGUY69:

Onitsha Market



Onitsha Market is one of the largest markets in West Africa.[1] It is governed by one of the most revered traders associations in Nigeria, the Onitsha Market Traders Association (OMATA). Most of the major import merchants from Eastern Nigeria have their head offices within the market. The average traders in the area are known to bring in at least six consignments of 40 tonnes (40-feet containers) of goods annually. Some of the major importers do more than 20 consignments of 40 tonnes of goods per year. These include jewelry, clothing, household, industrial and office equipment.

It is bounded by the River Niger to the West and Fegge through Osumaru Road from the East. The market is secured by the Onitsha Main Market Vigilante Services working under the auspices of the Nigeria Police Force. The market can rightfully be described as the commercial power house of West Africa. It is massively patronized by merchants in the ECOWAS sub-region including Accra, Abidjan, Douala, Niamey and Cotonou to mention a few
https://en.m.wikipedia.org/wiki/Onitsha_Market

Yeske2:
This is for Anambra alone

http://nationalmirroronline.net/new/minister-hails-rising-anambras-gdp/

http://www.channelstv.com/2013/07/01/cashless-policy-kicks-off-in-six-states/

Digest this two for now


Not so sure that business transaction in Oyo state alone is up to that of Ebonyi state

Pls, Stick to the topic 'Are these CITIES the most economical viable in Nigeria'.

Going by economical viable cities,i insist Ibadan is more economical viable than Nnewi and Aba.....even Onisha.

What year was that CBN report? 2013?
]

basilo101:

most of u dnt kw Onitsha. Onitsha has Industries, check this pic out

I am not ignorant of the presence of industries in Onitsha.

Problem is most SW guys hardly travel from their comfort zone which is Lagos for a large part.That's why that adjective--- no man's land-- pisses most off. Landlord travel and see

Yeske2:
Problem is most SW guys hardly travel from their comfort zone which is Lagos for a large part.That's why that adjective--- no man's land-- pisses most off. Landlord travel and see

As i dey so now, i dey for East.

forgiveness:


Pls, Stick to the topic 'Are these CITIES the most economical viable in Nigeria'.

Going by econonical viable cities i insist Ibadan is more economical viable than Nnewi and Aba.....even Onisha.

What year was that CBN report? 2013?


]

Ok but why was it not included here
http://www.channelstv.com/2013/07/01/cashless-policy-kicks-off-in-six-states/


http://www.thisdaylive.com/articles/cbn-ranks-anambra-third-in-deposit-mobilisation/137412/

forgiveness:

As i dey so now, i dey for East.

Precisely where?

Yeske2:
Precisely where?

I will not tell you.

Yeske2:
Ok but why was it not included here
http://www.channelstv.com/2013/07/01/cashless-policy-kicks-off-in-six-states/

Trading!