With the attendant issues with pos and atm machines network issues with banks and ussd failures and most importantly customers vulnerability to fraud,hacking issues due to Nigerian banks online security system CBn is just gonna put a lot of problems on their hands when people’s bank accounts start getting cleared by fraudsters with this new limitations!shey na emefiele get leg wey ppl dey take carry their money to banks or business places why the thing dey pepper Fg and cbn more reasonable things like the incessant shady account deductions or charges they won’t tackle it but keep chasing shadows and looking for ways to discreetly and officially rob the citizenry and sometimes poor masses thieving lots!

Nigerians the cause of our own problems. we find it difficult to read, all we do is rant and complain
Optional in the sense any online transaction won't be charged...

ednut1:
We just like to sensationalize things here. I even thought the charge applied to all the deposits. Even mechanics and petty traders have bank accounts. Why should anyone be carrying cash above 500k

I wonder why people are complaining. Many are confused. They don't understand it.

Akuz:
Nigerians the cause of our own problems. we find it difficult to read, all we do is rant and complain
Optional in the sense any online transaction won't be charged...

I tire bro. They all rush to comment when "CASHLESS POLICY" is clearly written up there.

missimelda01:
Hahaha very funny.. I don't receive salary yet, I'm still an undergraduate.

oh you're under parent allowee .. ok, make sure u face ur studies n don't follow all these black tall handsome guys .. ciao

Foxflames:


ask petrol stations, traders and many businesses

Petrol stations can Insist on their customers buying with their debit cards when possible. It will cut down the amount they'll have to incure due to the 2% charge. That's the "aim of cashless policy"...
I hardly carry more than 10k cash... I reckon It may be difficult to achieve though but it can work.

This is Nigeria where Cashless people complain about CBN Cashless Policy

Is this an issue. How many Nigerians have 500k+ to deposit or withdraw? Let us go cashless Nigerians.

pocohantas:


Now it is Dangote?

You think it is those people carrying ponpon with torn boxers showing their black bumbum that are working on Dangote's refinery?

You think the labourers at his refinery won't be outsourced- thus the burden of paying them would be on their contractor?

Please, try another argument.

And the contractors will not be paying then in cash? That even makes it more difficult because the contractor is like you and I.

bareal:


And the contractors will not be paying then in cash? That even makes it more difficult because the contractor is like you and I.

A contractor for Dangote is like you and I?

Smh...

[quote author=Moahmed post=82454537][/quote]it is well, bless you man!

HeyCorleone:
The CBN just wants to use mental gymnastics to confuse people.

The other day, they gave a shady example on how the 2% only affects money above 500k. so if it's 501000, you pay 2% of the 1000, that's N20.
But who the hell withdraws N501000?

They will implement just the way the current N52 on withdrawal is implemented.

If you withdraw 500k, you will not see additional line item fees on your account statement. However, if you withdraw about 500k at once or cumulatively over a single day, you will see additional line item charge in your account indicating the fees charged to your account for the excess (any amount above 500k) .

D option is go cashless - use mobile banking , use your bank app , use pos - these options are already widely used so I doubt any explanation is really necessary . Printing money is expensive !

nonxo007:
This is a very shallow and silly statement by the apex bank, why hide information from Nigerians when their hard earned money is involved ? It seems to me that we do not have qualified decision makers at the CBN. What sort of half baked information is this, optional?
Why put out the statement if you won't give us full details, like we are beggers with our money in our own country.

Oh

Pataricatering:
D option is go cashless - use mobile banking , use your bank app , use pos - these options are already widely used so I doubt any explanation is really necessary . Printing money is expensive !

Do you consider those people in the villages, those who aren't fit to use these services ? How well are these services secured?

bareal:


A taxi driver who wants to buy fuel with the 500 he just collected from passengers would also use the POS right?

Passengers should have paid taxi drivers through transfer.

alexvatt:
Passengers should have paid taxi drivers through transfer.

N50 through POS! I know you must be wondering how you sound yourself.....

MadeInTokyo:
Mad CBN Mad Policy Mad Buhari

Ah! Be careful ooo. DSS might charge you with cyberstalking ooo.

BitmapStudios:

Ah! Be careful ooo. DSS might charge you with cyberstalking ooo.

Leave him alone o..He does not know warris going on..