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Nairaland Forum / Nairaland / General / Business / Cashless Policy Will Only Affect 10% Of Nigerians (20631 Views)
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Re: Cashless Policy Will Only Affect 10% Of Nigerians by hush15: 10:04am On Sep 21, 2019 |
iyatrustee: Yes companies but enterprises aren't company. Most of these enterprises are individuals that run individual accounts and form majority of the informal sector or trade and there deal with high volumes. Those are the SMEs they will suffer. ... |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by iyatrustee(f): 10:08am On Sep 21, 2019 |
hush15: The charges i read will be on the excess of the N500k limit, but then, nothing stops them from opening an acct in the business name so long it is registered. hush15: You probably need to understand my point. 3mil daily turnover in cash! Not everybody pays for services with Cash. That said, businesses most times have more than 1 bank account, if u exceed ur N3mil limit, pay in the rest into another account. 2 Likes |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by davillian(m): 10:11am On Sep 21, 2019 |
nony43:Those %centage are going into CBN pockets. They are after their own pockets. You don't want my money outside and you charge me for bringing it to the bank... 2 Likes |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Godwinalfred(m): 10:15am On Sep 21, 2019 |
Nigeria don't always do what will be our advantages but disadvantages. My name sake u done start abi |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by heybeemoney(m): 10:20am On Sep 21, 2019 |
vichaz10: oh.. so after sales i should deposits only 500k and keep the rest in my office for the sake of cashless right? |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by StrikeBack(m): 10:32am On Sep 21, 2019 |
Xisnin:Are you talking of the already collapsed country |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Xisnin(m): 10:46am On Sep 21, 2019 |
StrikeBack:You won't have a phone if the country has collapsed. Even if you have a phone, you will be too busy defending your community than dreaming online. 1 Like |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nmezor(f): 10:48am On Sep 21, 2019 |
Hmmm, na dem sabi...Naija is getting worse by the day |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Okoroawusa: 10:49am On Sep 21, 2019 |
heybeemoney:Oga,why r u calculating money that u don't have? |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Okoroawusa: 10:53am On Sep 21, 2019 |
hush15:Oga stop pouring us spit here...This thing is simple. Get PoS for your. customers or encourage them to pay into your account. We want to limit cash transactions. Is that too hard for you to understand? |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by holysina(m): 10:53am On Sep 21, 2019 |
this is not even a problem. i go kuku withdraw 250k twice na |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by heybeemoney(m): 11:01am On Sep 21, 2019 |
Okoroawusa:yes my Oga at the top... you're entitled to your opinions n conclusion... it possible that you are right or wrong, but that your conclusion is not for me n will never... Thanks |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by vichaz10(m): 11:08am On Sep 21, 2019 |
heybeemoney: See those who make sales of up to 5m receive not less than 70% of that through cashless means... |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by pocohantas(f): 11:11am On Sep 21, 2019 |
hush15: Oga which high volume are they doing? 500k for individual and 3m for corporate. The people you claim are using individual accts for HIGH VOLUME- you can't deposit above 5m in your individual account without it getting flagged for money-laundering checks. You definitely won't keep doing it everyday because of some HIGH VOLUME sales. So, which high volume are you on about? If you are doing above 3-5m in a day, you are no "SME". You should have a corporate account, except both you and your customers are unserious. 2 Likes 1 Share |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by pocohantas(f): 11:13am On Sep 21, 2019 |
iyatrustee: Truth is, businesses that handle this kinda money have moved on since. All these social media reactors do not have the money. They are crying more than the bereaved. 1 Like |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nobody: 11:15am On Sep 21, 2019 |
pocohantas:Ah ah SMEs have corporate accounts already na. Or is it a wonder to you that an SME can deposit up to or between 5-10m cash in a day? You sound like having more than 3m cash to deposit is impossible... |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by pocohantas(f): 11:17am On Sep 21, 2019 |
Logobenz: Oga, read the trail before quoting me next time. He claimed such "SMEs" run individual accounts. Thank you. 3 Likes |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nobody: 11:20am On Sep 21, 2019 |
pocohantas:madam,don't tell me how to quote you.I can quote you whenever I please and however I want. Thank you. |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by naijadrivablog: 11:22am On Sep 21, 2019 |
mrvitalis: you obviously dont have a business or job sef. if it would affect the 10%(rich) then they should increase the limit to say, 30million for such taxes. Let me school you, suppose you are a provision wholesaler, and all the money from the sales you make, mind you that your profit per item range from N5-N100 which is less than 5% of cost you bought the items, is deposited to bank and 5% for deposit. Let us assume you want to pay your supplier/manufacturer to restock, another 3% is deducted, making a total of 8%. To kill you kpatakpata, your business is registered with CAC and you have business/ company account, CAC is waiting for you to pay your tax @ 5% of all monies that hit your account and 7.2% VAT, tell me, do they want to kill small and medium scale businesses and the masses What will they do with all those taxes if not to loot and lavish it |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by pocohantas(f): 11:22am On Sep 21, 2019 |
Logobenz: I will tell you how to quote me, you don't jump into an argument you know nothing about- It makes you look foolish. Desist from it, saves everyone time and energy. Regards 5 Likes |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by heybeemoney(m): 11:34am On Sep 21, 2019 |
vichaz10:That is a research question n objective for both of us to work on.... lol.. however, how much do u think that some big fueling stations make per day by cash?.. most especially in some big city?.. what about those dealers in Lag, ABJ, ph, n Kano? |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nobody: 11:38am On Sep 21, 2019 |
pocohantas:Insults? You and I know I am far from foolish,so insinuating I am foolish makes you look foolish Stop talking like a fool! 1 Like |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by pocohantas(f): 11:40am On Sep 21, 2019 |
Logobenz: ...Yea, how can you even be far from it, when you are it. Bye 4 Likes |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by temielects(m): 11:47am On Sep 21, 2019 |
Jestin:But when the government is making move to a greater future some bigots will condemn it,some that don't even have up to 250k in their accounts are the ones campaigning against it |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nobody: 11:51am On Sep 21, 2019 |
pocohantas:Funny,coming from an alleged banker who insinuated an SME depositing above the 3m daily limit is impossible,hence the reason you advise they move to corporate accounts,something they all have If you knew how retail works,you won't be spitting all these loads of crap from your mouth. It will be very hard for a retailer to move from cash base transactions unless CBN passes a policy that compels them to do So,like this one. Reason why major distributors still have bullion vans visit their premises to carry cash.why didn't they move on from cash? Whenever they are about to be slammed with facts they play the bye card Armchair economists full NL o 2 Likes |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by pocohantas(f): 11:53am On Sep 21, 2019 |
Logobenz: Stop being silly and follow the trail. The topic was never about an SME not being able to deposit above 3m. I know you jumped on it so you can tell us how you move 10m in seconds. Sorry, this isn't the thread for that... Wait for another opportunity 2 Likes |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nobody: 11:56am On Sep 21, 2019 |
pocohantas:If I want to brag I do so directly,not hide behind curtains like some of you people do so let's not make this about me. I don't know why you think I didn't "follow the trail"... |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by pocohantas(f): 11:58am On Sep 21, 2019 |
Logobenz: Abeg, shift make I change channel... 4 Likes |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nobody: 12:07pm On Sep 21, 2019 |
Non of this guy bank policy has positive effect on the mass.... His policies are just for himself and his cronies in the banking sector.... I read on this platform that 2 banks has rake the whooping sum of #3.4million from maintenance charges alone.... When sanusi lamido sanusi was the CBN chairman , all this this fictitious charges were scraped |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nobody: 12:11pm On Sep 21, 2019 |
glink2015:no mind these dumb people littered all over the place. They think the policy is for their "convenience and safety" in hauling cash Something that is aimed at drawing in more customers for commercial banks.mtcheew! |
Re: Cashless Policy Will Only Affect 10% Of Nigerians by Nobody: 12:21pm On Sep 21, 2019 |
francisisking:Nothing! |
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