osile2012:
I appreciate advancement in technology, but sometimes there are disadvantages that come with it. As the economic situation bites hard, unemployment situation worsens and inflation all time high, Nigerians find it hard to survive.

With the banks going into retail or recharge cards and data, this development further worsens the economic situation of these Nigerians who sell recharge cards for a living.

There was the girl i have been buying card from for years, i dont spend less than N10,000 monthly buying cards for both data and calls from her. Some months ago, i was introduced to this code from one of the banks to purchase credit. Ever since then, i have become very lazy to go and buy card. I am no longer worried that my data is about to expire,because i can simply buy with my phone from the comfort of my home or wherever i am.

Its been up to 6 months now, and i have not bought card from this girl. I feel guilty each time i am driving past and see the excitement on her face like before, expecting to make sales and i wave and tell her next time. I am sure she is wondering if i am buying from someone else or what exactly is happening.

I sometimes pass through another street when i remember i will meet her on my way. It pains me but i have become addicted to the simple method of purchasing from my phone. I no longer need to scratch the cards . But i just sat down today to calculate, and discovered that this girl has lost over N60,000 sales from me alone to the banks.

And i wonder, is it right for the banks to go into a business that these already poor Nigerians are managing to survive ? Are they not compounding the hardship for these Nigerians. The banks are laying of staff from within and also chasing people out of business outside.

osile2012:
I appreciate advancement in technology, but sometimes there are disadvantages that come with it. As the economic situation bites hard, unemployment situation worsens and inflation all time high, Nigerians find it hard to survive.

With the banks going into retail or recharge cards and data, this development further worsens the economic situation of these Nigerians who sell recharge cards for a living.

There was the girl i have been buying card from for years, i dont spend less than N10,000 monthly buying cards for both data and calls from her. Some months ago, i was introduced to this code from one of the banks to purchase credit. Ever since then, i have become very lazy to go and buy card. I am no longer worried that my data is about to expire,because i can simply buy with my phone from the comfort of my home or wherever i am.

Its been up to 6 months now, and i have not bought card from this girl. I feel guilty each time i am driving past and see the excitement on her face like before, expecting to make sales and i wave and tell her next time. I am sure she is wondering if i am buying from someone else or what exactly is happening.

I sometimes pass through another street when i remember i will meet her on my way. It pains me but i have become addicted to the simple method of purchasing from my phone. I no longer need to scratch the cards . But i just sat down today to calculate, and discovered that this girl has lost over N60,000 sales from me alone to the banks.

And i wonder, is it right for the banks to go into a business that these already poor Nigerians are managing to survive ? Are they not compounding the hardship for these Nigerians. The banks are laying of staff from within and also chasing people out of business outside.

osile2012:
I appreciate advancement in technology, but sometimes there are disadvantages that come with it. As the economic situation bites hard, unemployment situation worsens and inflation all time high, Nigerians find it hard to survive.

With the banks going into retail or recharge cards and data, this development further worsens the economic situation of these Nigerians who sell recharge cards for a living.

There was the girl i have been buying card from for years, i dont spend less than N10,000 monthly buying cards for both data and calls from her. Some months ago, i was introduced to this code from one of the banks to purchase credit. Ever since then, i have become very lazy to go and buy card. I am no longer worried that my data is about to expire,because i can simply buy with my phone from the comfort of my home or wherever i am.

Its been up to 6 months now, and i have not bought card from this girl. I feel guilty each time i am driving past and see the excitement on her face like before, expecting to make sales and i wave and tell her next time. I am sure she is wondering if i am buying from someone else or what exactly is happening.

I sometimes pass through another street when i remember i will meet her on my way. It pains me but i have become addicted to the simple method of purchasing from my phone. I no longer need to scratch the cards . But i just sat down today to calculate, and discovered that this girl has lost over N60,000 sales from me alone to the banks.

And i wonder, is it right for the banks to go into a business that these already poor Nigerians are managing to survive ? Are they not compounding the hardship for these Nigerians. The banks are laying of staff from within and also chasing people out of business outside.

Chukzyfcb:

Spot on bro. Exactly my point, there is already a prototype of car that can operate without a driver (one benz bus). That alone will eliminate the need for drivers. Since the emergence of telephone, postal offices have seen huge decline in revenue. Nobody writes letters anymore. With various apps here & there & internet growing at a fast pace, the need to have marketers will generally decline in future. Xiaomi has been using this approach since, marketing their phones via Online forums & its been working greatly for them. Yes technology will make life easy for us, make us lazy but it will gradually replace human labour.

Gamesmart:


People like YOU are making Nigerians poor because you are lazy.

pendusky:
Op your topic is misleading...

You could have written

"How Technology is making people poor"

My sister "flash" me in the middle of the night, I didn't have much credit, Do I have to call iya sikiru to send me Airtime at that time? no.. I simply dial Sterling Bank Recharge code *822*Amount# and my account was credited, when I call her she was crying, she need data to finish her term paper which to her will be submitted in the morning, I simply dial *822*Amount*Her No# (Sterling Bank third party recharge) and she was credited, that solve the problem.. Gbam

Take a careful look at banks these days, you don't meet much paying tellers, they will advise you, sire pls use the ATM, owing to these, banks don't employ more hands for this purpose because ATM (Technology is doing the work)

I could remember when I was in school when water biz came out, you only need waterproof, refrigerator and water to start the biz, but when rich men saw that they can bring in Machine for purification and packaging (Technology), that the beginning of Pure Water Business which led to wiping out of the poor ones who started the biz.

Take for example our old women in market who sell salts in markets, Dangote came with his purification machine (Technology) to purify and sell salts, everyone now buy Dangote Ionized salt..


what about Local Cyber cafe (I remember sleeping severally at cafe in the name of Night browsing) these days Telecom Network operators give cheap data on your set, (Technology redefined) I dont need to visit cafe,(I use my laptop) I don't even need a modem(Another huge loss to modem manufacturing coy) I use hotspot on my phone..


OP you don't say banks but Technology is making people poor and also making life convenient...


BTW we want to embrace Solar Energy

that's a warning to PHCN workers

micsade:


GTBank is already doing this with their SME MarketHub

emeijeh:
Who put up this thrash here?
Real lubbish. **in a baby's voice**

dominique:
Good thing that you have realised your contribution to small scale business owners. Let's try to patronize anyway we can. They're badly hit by this economic downturn as they hardly sell like before.

My case is almost opposite to yours. I've been recharging via bank account for years because I hate scratching and loading cards. Recently, a friend that manages a small neighbourhood kiosk (@ my signature) has been facing financial difficulties. Recharge card is one of the few things she sells that I can use. So I had to reverse my decision and now I buy all my cards from her. I still hate loading cards, but the satisfaction I get that I am increasing someone's revenue base outweighs the annoyance of loading 15/16 digits into my phones.

pendusky:
Op your topic is misleading...

You could have written

"How Technology is making people poor"

My sister "flash" me in the middle of the night, I didn't have much credit, Do I have to call iya sikiru to send me Airtime at that time? no.. I simply dial Sterling Bank Recharge code *822*Amount# and my account was credited, when I call her she was crying, she need data to finish her term paper which to her will be submitted in the morning, I simply dial *822*Amount*Her No# (Sterling Bank third party recharge) and she was credited, that solve the problem.. Gbam

Take a careful look at banks these days, you don't meet much paying tellers, they will advise you, sire pls use the ATM, owing to these, banks don't employ more hands for this purpose because ATM (Technology is doing the work)

I could remember when I was in school when water biz came out, you only need waterproof, refrigerator and water to start the biz, but when rich men saw that they can bring in Machine for purification and packaging (Technology), that the beginning of Pure Water Business which led to wiping out of the poor ones who started the biz.

Take for example our old women in market who sell salts in markets, Dangote came with his purification machine (Technology) to purify and sell salts, everyone now buy Dangote Ionized salt..


what about Local Cyber cafe (I remember sleeping severally at cafe in the name of Night browsing) these days Telecom Network operators give cheap data on your set, (Technology redefined) I dont need to visit cafe,(I use my laptop) I don't even need a modem(Another huge loss to modem manufacturing coy) I use hotspot on my phone..


OP you don't say banks but Technology is making people poor and also making life convenient...


BTW we want to embrace Solar Energy

that's a warning to PHCN workers

pendusky:
Op your topic is misleading...

You could have written

"How Technology is making people poor"

My sister "flash" me in the middle of the night, I didn't have much credit, Do I have to call iya sikiru to send me Airtime at that time? no.. I simply dial Sterling Bank Recharge code *822*Amount# and my account was credited, when I call her she was crying, she need data to finish her term paper which to her will be submitted in the morning, I simply dial *822*Amount*Her No# (Sterling Bank third party recharge) and she was credited, that solve the problem.. Gbam

Take a careful look at banks these days, you don't meet much paying tellers, they will advise you, sire pls use the ATM, owing to these, banks don't employ more hands for this purpose because ATM (Technology is doing the work)

I could remember when I was in school when water biz came out, you only need waterproof, refrigerator and water to start the biz, but when rich men saw that they can bring in Machine for purification and packaging (Technology), that the beginning of Pure Water Business which led to wiping out of the poor ones who started the biz.

Take for example our old women in market who sell salts in markets, Dangote came with his purification machine (Technology) to purify and sell salts, everyone now buy Dangote Ionized salt..


what about Local Cyber cafe (I remember sleeping severally at cafe in the name of Night browsing) these days Telecom Network operators give cheap data on your set, (Technology redefined) I dont need to visit cafe,(I use my laptop) I don't even need a modem(Another huge loss to modem manufacturing coy) I use hotspot on my phone..


OP you don't say banks but Technology is making people poor and also making life convenient...


BTW we want to embrace Solar Energy

that's a warning to PHCN workers

joe4christ:


From your well written analysis above, I was able to reduce enough clues, actually enough to give me foresight into a century from now.
I can predict that in a century from now, Technology and Agricultural sectors will be the major driving forces of every economy.

0955eb027:
The rich is just looking for avenues to make more money without taking into cognizance the effect it will have on the struggling ones. Well, i will not blame them cos thats the way we (animals) are wired, survival of the fittest. Soon, banks will introduce platforms like konga, jumia where all can be purchased, including food stuffs. GOD help the needy.

dominique:
Good thing that you have realised your contribution to small scale business owners. Let's try to patronize anyway we can. They're badly hit by this economic downturn as they hardly sell like before.

My case is almost opposite to yours. I've been recharging via bank account for years because I hate scratching and loading cards. Recently, a friend that manages a small neighbourhood kiosk (@ my signature) has been facing financial difficulties. Recharge card is one of the few things she sells that I can use. So I had to reverse my decision and now I buy all my cards from her. I still hate loading cards, but the satisfaction I get that I am increasing someone's revenue base outweighs the annoyance of loading 15/16 digits into my phones.

osile2012:
I appreciate advancement in technology, but sometimes there are disadvantages that come with it. As the economic situation bites hard, unemployment situation worsens and inflation all time high, Nigerians find it hard to survive.

With the banks going into retail or recharge cards and data, this development further worsens the economic situation of these Nigerians who sell recharge cards for a living.

There was the girl i have been buying card from for years, i dont spend less than N10,000 monthly buying cards for both data and calls from her. Some months ago, i was introduced to this code from one of the banks to purchase credit. Ever since then, i have become very lazy to go and buy card. I am no longer worried that my data is about to expire,because i can simply buy with my phone from the comfort of my home or wherever i am.

Its been up to 6 months now, and i have not bought card from this girl. I feel guilty each time i am driving past and see the excitement on her face like before, expecting to make sales and i wave and tell her next time. I am sure she is wondering if i am buying from someone else or what exactly is happening.

I sometimes pass through another street when i remember i will meet her on my way. It pains me but i have become addicted to the simple method of purchasing from my phone. I no longer need to scratch the cards . But i just sat down today to calculate, and discovered that this girl has lost over N60,000 sales from me alone to the banks.

And i wonder, is it right for the banks to go into a business that these already poor Nigerians are managing to survive ? Are they not compounding the hardship for these Nigerians. The banks are laying of staff from within and also chasing people out of business outside.

osile2012:

[size=18pt]You can say that again[/size]

des4ella:
May God bless and increase u for showing concern for your neighbor.

0955eb027:
The rich is just looking for avenues to make more money without taking into cognizance the effect it will have on the struggling ones. Well, i will not blame them cos thats the way we (animals) are wired, survival of the fittest. Soon, banks will introduce platforms like konga, jumia where all can be purchased, including food stuffs. GOD help the needy.

supersystems:



nce shool of thought op i dont do anythin electronic becos it kills retail business i have this penned down in my mind from day one.i do 30minutes trekking to go buy my cards and bless someone rather than let the bank have it.i hope many of us will learn from it.dont do instant phone recharge or atm creditting someone else is loosing big time as a result of every purchase u make

ceaser:


Let's look at it critically. How many Nigerians are banked and what percentage remains unbanked despite conscious campaigns at increasing awareness for banking? Definitely the latter is more (about 80%). Then look at the Mobile density coverage and penetration for the country (what percentage of the population uses the Global system of mobile communication). More people in the local areas remain unbanked and also have at least two SSIDs from the same or different GSM providers. They majorly load call credits from patronising the retailers. So on the overall, balance nay not have significantly tipped as it would appear to be in most developed cities of the country.

I have my reason for retiring to online recharge from retailers. It's annoying when they always put 10 naira or 20 naira on any denomination of recharge you wanna buy. The first time I got mad with the salesgirl for doing such and refusing to reason with removing that in order to get more customers, I simply left her stall and strolled to the ATM opposite her stall. She saw me complete the recharge online and left.

By the way, I haven't noticed any hidden deductions from online recharges on the GTBank *737* platform I use. It's only Heritage that has done me strong thing this past week by deducting 1k5 without crediting my line. I'm still doing the press-up for a robust response. Nonsense bank!

TheAlchemist:



That is one of the reason it is dangerous to discuss your business plan with a Bank. They will tell you it is not feasible, blah, blah.... only for them to set up a proxy company to implement that business plan. Banks are really unfair to aspiring entrepreneurs!

ranktzy:

Some banks already have online shopping mall. Instead of them to concentrate on their core business. Things like these ought to be regulated.