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When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) - Politics (2) - Nairaland

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Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by BRIMBRAM: 11:37pm On Jan 28, 2023
BeardGangJnr1:

How many people eats electoral reforms as food, health care, education, electricity, fuel subsidy, transportation....azin common essential services he hasn't provided even one
The so-called electoral is failing in osun.... politicians have found a way to either temper, manipulate or bypass it.

How has the electoral reforms failed in Osun?

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Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Foolishbuhari: 11:50pm On Jan 28, 2023
Agbado Cretins don turn economists overnight. When borders where shut down; an action which effectively made the economy nose-dive, they were mute because "there was rice in Kano". Today they're emergency economists over a currency Change that puts their electoral fraud at risk. Mad people!
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by BeardGangJnr1(m): 11:55pm On Jan 28, 2023
BRIMBRAM:


How has the electoral reforms failed in Osun?
Concerning the Bimodal Verification Accreditation system...and other inec stuff involved.... leading to Adeleke's dethronement
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by BRIMBRAM: 11:58pm On Jan 28, 2023
BeardGangJnr1:

Concerning the Bimodal Verification Accreditation system...and other inec stuff involved.... leading to Adeleke's dethronement

Okay I see. It's up to Adeleke to prove otherwise.

1 Like 1 Share

Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Lionize: 12:17am On Jan 29, 2023
Parachoko:


The policy is a good one, the cashless policy is a policy that has been existing in Nigeria for over 10 years.

I wander why Emefiele is in a rush now

Is not possible to change a Country currency in less than 3 month.

The cashless policy is for helping the Nigerian Economy not to fight corrupt politicians.
@ the bolded. Anything is possible bro. CBN and The President has told you no going back.
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by OfficialAPCNig: 12:38am On Jan 29, 2023
Patriotic Nigeria stands with President Buhari and Emefiele
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by CodeTemplar: 1:31am On Jan 29, 2023
EKONGKING:
To the poster above , iam still living in India and project is successful . Indians have moved from cash based to semi cash based and they are slowly eliminating 2000 notes .
This Move along with GST (Goods and service Tax) is why India is able to spend Billions of dollars of its own money on constructing new Airports, Metros, Ports, expressways etc .
They are opening 10,000 Mw of power plants every year for past 5 year.
I expected Buhari to be like Modi but alas i am very disappointed at least Buhari is trying now.
Who wants to trust a govt that wants to give amnesty to killers and cannot name sponsors of terror?
A govt of wastage that permits huge leakages but suddenly wants to remove subsidy the masses are enjoying.
A govt that pardons the few prominent corrupt public officers.

Is that how Modi's govt rolls?

1 Like

Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by CodeTemplar: 1:34am On Jan 29, 2023
jamace:
CBN gave 100 days , about 3 months for this exercise. The problem with Nigeria is that most people don't take implementation of government policies serious. They believe that the policy will not work, BUT now eye don clear. grin grin

If only President Buhari has been operating like this since he came into office, his government wouldn't have performed woefully like this. This last minute thrust will not have strong impact on review of his government.
People are in banks and POS units with old cash but no new notes in sight? How is that a success?

2 Likes

Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Telegram234(m): 5:06am On Jan 29, 2023
Blackdeewhy:
Nigeria will get it right.
We have the human resources, natural and economic resources.
We will get there.
We have abundance oil, why then we suffer from fuel scarcity..
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by FarahAideed: 5:11am On Jan 29, 2023
juman:
Cashless policy is beautiful.

How is currency swap cashless policy ?

1 Like 1 Share

Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Felabrity: 5:55am On Jan 29, 2023
PrinceOfLagos:
I stand with President Muhammadu Buhari and Godwin Emefiele on the new naira redesign

Tinubu can cry from now till tomorrow we don't care
jungle don mature
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Felabrity: 5:56am On Jan 29, 2023
PresidentAtiku:
You guys expected that by now, Lagos money cornered by Tinubu will be flowing through all corners of the country for vote buying. If he got 2 bullion vans for someone’s election he will get 200 to prosecute his own election

ITS IS STRANGE THAT ONLY TINUBU’s SUPPORTERS ARE CRYING SO BITTERLY ABOUT THE NEW NOTES
Buhari can't stop him on election day

He can only do it now
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by bdon123(m): 5:58am On Jan 29, 2023
jamace:
CBN gave 100 days , about 3 months for this exercise. The problem with Nigeria is that most people don't take implementation of government policies serious. They believe that the policy will not work, BUT now eye don clear. grin grin

If only President Buhari has been operating like this since he came into office, his government wouldn't have performed woefully like this. This last minute thrust will not have strong impact on review of his government.
Nigerians are very stubborn.U giv dem 3 months notice n they wait to d last day to queue up at banks.anybody that losses plenty money becos he cldnt return is an idiot n deserves it
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by PresidentAtiku(m): 6:35am On Jan 29, 2023
Felabrity:
Buhari can't stop him on election day

He can only do it now
The thief has lost out already. No heavy either of cash across the counter. How will he get cash on Election Day?
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Parachoko: 6:47am On Jan 29, 2023
Lionize:

@ the bolded. Anything is possible bro. CBN and The President has told you no going back.
A lot of people will be affected by this policy and it won't still stop vote buying
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Obaaderemi2: 6:54am On Jan 29, 2023
bdon123:

Nigerians are very stubborn.U giv dem 3 months notice n they wait to d last day to queue up at banks.anybody that losses plenty money becos he cldnt return is an idiot n deserves it
I'm not sure you are in Nigeria, probably you are in far away Somalia, you and the specimen you quoted. Are you not aware that there has been short supply of the new notes since last year when the announcement was made. It's a failed policy that will achieve nothing tangible just like all the other policies of the dullard in aso Rock.
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Obaaderemi2: 6:55am On Jan 29, 2023
Parachoko:
A lot of people will be affected by this policy and it won't still stop vote buying
How can it stop vote buying when the big politicians already have access to the new notes. Las Las na ordinary nigerians go still suffer am.
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by juman(m): 7:25am On Jan 29, 2023
FarahAideed:


How is currency swap cashless policy ?

That is the government targeted.
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by kevoh(m): 7:47am On Jan 29, 2023
CodeTemplar:
People are in banks and POS units with old cash but no new notes in sight? How is that a success?
What do you need new notes for? I deposited all my old notes in 1st bank and I've been cashless since shops in my area started rejecting old notes. Paid #500 for 3 bags of pure water through mobile transfer just now. Been doing #500 and #1000 transfers since Friday! World did not end! If shop A doesn't collect transfers. I move to shop B!

The people in the pictures below are your normal day-to-day vendors!

Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Inayachem: 7:58am On Jan 29, 2023
Tokskob2008:
Even if this policy will fail or not let us test it for a period of 3months and if after the elections it didn't work then we can know what to do next but for now let that deadline not change. We need an election where people can vote whoever they want without candidates inducing voters with money. We need a free and fair elections this time around.
See the way a black man thinks, you want to use the destiny of 200m people to do try and luck. This is why dullard Buhari is your president
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by sidney22: 8:23am On Jan 29, 2023
Mr Modi's "shock and awe" declaration meant that 1,000 and 500 rupee notes would no longer be valid.

These may be the largest denomination Indian notes but they are not high value by international standards - 1,000 rupees is only £12. But together the two notes represent 86% of the currency in circulation



Higher denominations are simply useless. Promotes and encourages hoarding. A very wonderful tool for corruption practices.

I continue to wish for the Nigeria of old when N20 was the highest denomination and in note form.
N10 , N5 , N1 and 50 Kobo were all in note form while 10 Kobo, 5 Kobo , 1 Kobo and half Kobo were all in coins.

Even if you are not an economist , you will always agree that having higher denominations is always a format for corruption and destruction of the economy .

Nigeria was great when the rich and the poor had Kobo in their pockets because it was in note form.

Discarding the Kobo and introducing large denominations ruined the country.

We can only get it right when we revert to pre IBB regime when N50 note ( better life) was introduced.

At worst let N200 note be the highest denomination in circulation.

How many $1000 is in circulation or have you ever seen a £1000 note.

Nigeria has been programmed and is being programmed to fail.

A particular generation that benefited greatly from all the good and solid foundation laid before now failed this
country and it shall never be well with them no matter the wealth they amass.

Nigeria we hail thee.

1 Like

Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by CodeTemplar: 10:51am On Jan 29, 2023
kevoh:

What do you need new notes for? I deposited all my old notes in 1st bank and I've been cashless since shops in my area started rejecting old notes. Paid #500 for 3 bags of pure water through mobile transfer just now. Been doing #500 and #1000 transfers since Friday! World did not end! If shop A doesn't collect transfers. I move to shop B!

The people in the pictures below are your normal day-to-day vendors!

what about the tomato seller in market who doesn't have electronic banking? Our literacy and tech adoption level are so low, lots of people will suffer. People are rejecting old notes from their customers and cannot by from their merchant. It is crazy and needless.
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by hayoholla(m): 10:53am On Jan 29, 2023
This is similar to what buhari is doing, tbh, to move to a digitised based economy will ensure accurate and more tailored tax economy, its now up to the government to be accountable for tax paid by the citizens.
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by Phoen1X: 11:00am On Jan 29, 2023
FreeStuffsNG:
"Do not believe reports that this is primarily about bribery or terror financing, the real target is tax evasion and the policy is very daring indeed."
Are you now asking us not to believe "your" buhari anymore ?...truly ,enemies of naija will loose ,las las.
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by kevoh(m): 11:05am On Jan 29, 2023
CodeTemplar:
what about the tomato seller in market who doesn't have electronic banking? Our literacy and tech adoption level are so low, lots of people will suffer. People are rejecting old notes from their customers and cannot by from their merchant. It is crazy and needless.
When the tomato seller starts losing customers to other sellers that have switched to the different forms of cashless payment that have been existing for more than a decade now, they will adapt or allow their produce rot away! illiteracy is not an excuse! People will adapt when both buyer and seller can not do business. Hunger does not respect anyone!
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by yemex04(m): 11:39am On Jan 29, 2023
PrinceOfLagos:
I stand with President Muhammadu Buhari and Godwin Emefiele on the new naira redesign

Tinubu can cry from now till tomorrow we don't care








Good morning from this side.

Some of you have been getting a lot wrong on the Naira redesign affecting Tinubu & indeed the politicians & vote buying.. You failed to realize that the new notes have gradually been introduced since December long before cash withdrawal limit becomes enforced.You also forget that these politicians have the connection to call Banks CEOs & Bank managers to ship more than enough new naira Notes to their homes before the deadline?
I am sure most of them have the cash they need in new Notes already before now.
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by BATified2023: 11:47am On Jan 29, 2023
jamace:
CBN gave 100 days , about 3 months for this exercise. The problem with Nigeria is that most people don't take implementation of government policies serious. They believe that the policy will not work, BUT now eye don clear. grin grin

If only President Buhari has been operating like this since he came into office, his government wouldn't have performed woefully like this. This last minute thrust will not have strong impact on review of his government.
y then did bank still pay out old notes till Friday?

Y was it that atm started dispensing new notes just few weeks ago?

These are salient question we should ask ourselves

Y didn’t counter n atm start dispensing d new notes since d day they declared it?
Re: When India Wiped Out 86% Of Its Cash Overnight .See Why & What Happened (Photo) by bdon123(m): 3:12pm On Jan 29, 2023
Obaaderemi2:
I'm not sure you are in Nigeria, probably you are in far away Somalia, you and the specimen you quoted. Are you not aware that there has been short supply of the new notes since last year when the announcement was made. It's a failed policy that will achieve nothing tangible just like all the other policies of the dullard in aso Rock.
My point is why are u not going cashless since last year.Why are u still collecting bulk old notes frm bank till last minute.
Yes there has been short supply of new notes due to sabotage frm bank managers

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