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Nairaland Forum / Nairaland / General / Business / Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? (19724 Views)
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Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Seehow: 9:41am On Mar 03, 2017 |
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Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by flexty(m): 9:44am On Mar 03, 2017 |
Most businessmen will seriously b affected especially those in electronics, spare parts, nd building materials as well as filling stations. But i think its a welcome development. |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by obailala(m): 9:47am On Mar 03, 2017 |
SillyeRabbit:The rule is quite harsh considering that in Nigeria, we don't still have the infrastructural capacity to go cashless. But then again, sometimes we need a real kick on the butt to do the right things. NExt time someone pays you N5million cash, you would reject the cash and direct the person to make the payment via wire transfer; or you have the option to deposit the cash in instalments. FOr businesses that deal with bulk cash daily, they can consider acquiring POS. |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by nizetee: 9:52am On Mar 03, 2017 |
megamank: But its still the poor that will be made to pay by the rich indirectly.
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Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by donprinyo(m): 9:54am On Mar 03, 2017 |
I still believe dat the majority of participants in dis forum are young, immature minds. Pls nairaland.com, upgrade de age status of members to 25years 1 Like |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by eliteweb(m): 9:58am On Mar 03, 2017 |
willian10: With all your plenty online transactions na only #500 dem charge u? Dem try na, me na #975 dem charge na. If u have small $15 ITunes gift card holla me. |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Jammiiee(m): 10:01am On Mar 03, 2017 |
That's if and only if u deposit that with cash in hand. But if you deposit through mobile banking and the likes you will be charge nothing. People don't seem to understand this policy majority won't even do that again. How will someone take 5 million Naira in cash to the bank. What happened to online bank SillyeRabbit: |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by ISTANDWITHBUHAR: 10:05am On Mar 03, 2017 |
MrPresident1: Did you have upto 20k Naira in your account? |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Papertrail11(m): 10:30am On Mar 03, 2017 |
Kx: to me the banks will suffer for it big time ever since oil price went down and a lot of private voys can't service loans as they ought to our banks hav resulted to doing abracadabra with our foreign exchange now this. I mean for someone like me who is in the informal sector why should banks harrass me with deposit fees to save with them. Even with the so called atms and Internet banking you will find in some cases you wanna make a transfer to someone it will say transaction declined or wanna use POS transaction declined even when you have money there and could be embarrassing when your in a place like shop rite or something when apostle Suleiman said there will be a time where pple may be forced to stone APC govt officials I don't doubt him 1 Like |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Papertrail11(m): 10:31am On Mar 03, 2017 |
Youngzedd: Mr shut the hell up go tell that to pple in the informal sector selling cement. just because it is white dosent mean we should all rush and stick to it. so much for cultural imperialism |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by agrovick(m): 10:31am On Mar 03, 2017 |
I wil kuku just deposit 500k 10 times in a day. Shey e le stupid ni 1 Like |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Papertrail11(m): 10:34am On Mar 03, 2017 |
repogirl: so pple workn in the informal sector are shady such fuckery |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Youngzedd(m): 10:36am On Mar 03, 2017 |
Papertrail11: Don't argue on what you don't understand. 1 Like |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Papertrail11(m): 10:41am On Mar 03, 2017 |
masonkz: for withdrals I may not be forced to complain but for deposit are u kiddn me for pple in the informal sector who use physical cash and want to pay it can be a daunting experience |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Papertrail11(m): 10:46am On Mar 03, 2017 |
Mathemagician1: chief this policy sucks big time emefiele is hell bent on sucking money frm the poor masses even in a recession you i m much more concerned with pple who are in the informal sectors like u listed petrol stations farmers bulk commodity sellers for withdrawls I can understand but to deposit my own money in a shitty nigeiran bank who will in turn use my money to giv loan without collateral to greedy Nigerian billionaires who will never pay back yet deny me when I go to ask for 1.99percent of their loan value that to me iss bad 2 Likes |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Papertrail11(m): 10:50am On Mar 03, 2017 |
Youngzedd:bitch swerve |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by willian10: 10:53am On Mar 03, 2017 |
eliteweb:Na access bank suppress ham and they never charge me for SMS alert before How much u wan pay for the small |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by sekem: 11:07am On Mar 03, 2017 |
Youngzedd: Nwanne na rie. Nwanne bochaa. I nwere nsogbu. Okwu gi amaka. |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by hush15: 11:14am On Mar 03, 2017 |
masonkz: I know it's a CBN policy but we all know that that the CBN chief is from the banking sector and still has interest there with his contemporaries. He protects that interest in the fall out of the political interests. The Banking sector has been the biggest beneficiaries in this recession. While other sectors are posting losses even in the telcos, banking is making huge profit. Zenith, CBN chief former bank, still posted over 5 billion in profits whereas manufacturing is dying. Telco margins depreciates. It's not rocket science, it's simply policies in banking favour at the expenses of masses. Such is one of these policies because the chief knows how much money is about to go round especially looted funds and banks can plunge into that depth and enjoy but who are the losers, we Nigerians that worked and earned our income. It is cash deposits but how can you deal with that figure without cash |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by tobaseye: 12:04pm On Mar 03, 2017 |
This is seriously unfair. I don't know why Nigerians don't usually speak out on policy like this that affect them. I think we have a very long way to go as a nation. 1 Like |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by tobaseye: 12:10pm On Mar 03, 2017 |
Youngzedd: But are you aware that when you make an online transaction they also charge you for maintenance fee of about 1000k per every 1m you transfer. Is that also a cashless policy? |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by agabusta: 1:24pm On Mar 03, 2017 |
youngdude1: That is the whole essence of the law! Stop collecting cash! You as a merchant can deploy a POS to your customers. Or accept other electronic means of payment. If you want to keep on receiving cash, then you should be ready to pay the charges. |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Nobody: 1:33pm On Mar 03, 2017 |
hush15: @bold. This is not the banks' faults. Banks remain in business and would only tend to capitalise on opportunities when they arise. Compare the closing USD rate of 2016 to the closing USD rate of 2015 and you'd understand why Zenith made such profit. Loans that are denominated in foreign currency would need to be revalued at the end of the year. Since loans make up the most of banks' assets, it therefore goes that the value of these loans would increase, thereby churning out more interests for the banks. They also have to revalue their FX position as at year end, with the current market rate, as against the rate as at 2015. Hence it isn't far fetched why they would report a huge profit. I expect same from other banks too. |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Nobody: 1:34pm On Mar 03, 2017 |
rusher14: |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by soulfood(m): 2:38pm On Mar 03, 2017 |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Nobody: 3:54pm On Mar 03, 2017 |
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Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by texazzpete(m): 4:09pm On Mar 03, 2017 |
youngdude1: Then it's time to move to the modern age. Pay via bank transfers or POS. If they cannot, then let them bear the brunt. |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Nobody: 6:20pm On Mar 03, 2017 |
texazzpete: End of. I was going to pc village to buy a laptop a month ago. No way I was going to be running around with over 300gs in cash. That is just asking for stories that touch |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Deilluminator(m): 1:56pm On Mar 04, 2017 |
Freshsnoow:Useless people in a useless country 1 Like |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by Mathemagician1(m): 7:22pm On Mar 04, 2017 |
agabusta: What if you own a filling station? How many people go the filling station with ATM cards? |
Re: Nationwide Implementation Of The Cashless Policy. Is This Fair On Nigerians? by agabusta: 7:31pm On Mar 04, 2017 |
Mathemagician1: Must you wait for the cash to be above cashless limit before you take it to the bank? You can be evacuating the cash from time to time. And recall that the limit for corporate organizations is even 2 or 3m. Either of them, not sure. Must you then wait for the cash to be above 2m before taking it to the bank? |
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