I said it here last week, that the real definition of a legal tender would soon override all the legalistic nonsense we are all fooling ourselves with. Over 50% of Nigerians don't put their money in the banks. For those group, anything can become their legal tender. If you know, you know.

The same wrongly implemented currency redesign nearly collapsed Indian economy with a large informal sector

We need to be careful

goldman777:
Nigeria gradually retrogressing back to the stone age while the rest of the world advance to the space age

It is the Rural dwellers that don't want to embrace advancement are the ones retrogressing. You should educated them on the need for advancement and technology. I remember how we tried to convince and educate my mother on the need to use Android phone but she kept in insisting on using button phones. When she finally started using Android phone she saw the effectiveness and easy living android brought in. Bank transaction in one phone, phone call in one phone, music in one phone, video in one phone, reading news in one phone, chatting in one phone, etc. That's the beauty of android and IOS phones and it's technology and advancement.

I want to travel to Benin Edo State and I plan paying the driver with 6 tubers of yam

Emefiele is doing the right thing at d wrong time,also using this as a revenge on his lost ambition
Cashless policy is good but Nigeria is not ripe for it, many traders don't HV account, even the charges on transfer is too much if it's not dsame bank, aside that, network might even hang ur money. With all these points agree with me that we are not ready for cashless economy



The situation is becoming unbearable!

headboyprince:
that's their plan to take Nigeria back to stone age...

Please how many news have you read that the southerners are complaining about this cash crunch?

Anyone that wants to remain backwards should remain backwards. Technology and advancement is here to stay in Nigeria. We must grow

Peterobi90:
Its been almost 2 weeks after CBN initial deadline.. i used to be addicted to POS centres, but now, i can't remember when last i saw a naira note, but i have been making transactions and surviving...

We would all adjust eventually, Good change comes at a price..

- Open multiple bank account
- Get ATM cards
- Download banking mobile apps for transfers
- Get POS device for your outfits
- Move to the next seller if the previous says "cash only"

Of what use is you not learning about technology, its not like the world would go back to the stone ages..

Because you're educated na

How about those in villages

Make Una the think well abeg

tolue42:


Are you aware millions of Nigerians don't even have access to banks? In some local government in the North, they only have 1 bank, and you'll need to travel for over 100 kilometers to get to the bank... Even if you're educated, +and- you'll prefer to run your business on cash base..

So if you're thinking about yourself, put your country men into consideration.

💯

In my states I know about 3 local governments without banks


In my own local government there's only one ATM stand

The bank is not even functioning

The hardship is too much

Imagine those in villages

No be small suffer I don suffer today for my area. To withdraw money in the bank, you will spend the whole day there las las na 5k them go give person. Pos agents don't have money at all, most shops don't want to collect transfer. Na beans and bread I dey chop like this. Wahala just too much for this country.

It's funny how quickly Africans can devolve to being monkeys at will once the white man's civilization is removed from them. It just goes to show that the black man as a species is subhuman. Because how come no one in this rural setting is willing to innovate a solution rather than go back to centuries old practices

MikeMicheal:
APC has successfully moved us backwards in advancements.

If you think this policy have brought you backwards then you think backwards.

However let me educate you with examples.

1. If you go to a fuel station with Jerry can and the fuel attendant tells you charges for one Jerry can is 5h and you must pay in cash. You see that 5h eh, it's the attendants own and it's corruption. But imaging paying through POS, the attendant can't ask you for 5h charges because the money is going to the fuel station account straight. Now this is the goodness the policy brings in fuel station...a) Accountability, every money sent to the petrol station account is accounted for. b) The owner of the fuel station purchase will gain profit than losses in anyway because and the end, you know how much you are getting. c,there will be no money shortage from fuel attendants because since it's cashless, everything is accurate. d, you the consumer of petrol will not feel cheated anyway because you will pay exactly what you will consumer.

2, Bribery can be easily spotted because you pay through transfer and there's evidence of payment. But if you pay using cash the person can deny or my even deny the exact amount.

3, Stealing can be easily traced because every bank account have a house address, phone number, next of kin, etc it was registered with and your BVN and bank account is also linked to a phone number. If anybody steals your money without your consent, the person can be easily traced and apprehended using the thieves details provided while opening a bank account.

4, A kidnapper can be easily traced and apprehended when money is transferred cashless but if paper cash is used then a kidnapper can't be traced.

5, storing of naira notes for corruption will stop because every money you will have will be in the bank and accounted for and transaction will be done cashless. This will help the bank know how much is in circulation, be accountable for howmuch is in circulation. Less paper cash, traceable and easily to account for...more paper cash, difficult to trace and account for.

I wish I have so much time I will educate you with enough examples of the need for this cashless policy.

These rural villages and villagers need to vote competent President, senator, councilor, village chiefs/heads that will see the need and necessity to bring banks and ATM machines very close to their communities. Their money is safe and secured and can be accounted/accountable for when saved in a bank than keeping or hiding paper cash in the house. What if rodents, snakes or thieves come to the house and steal does money you are hiding. But thesame can't be with banks.

These villagers should meet their village heads, counsellors, etc to bring banks and ATM machines close to their communities. It's a win win for everybody.

BOOKWORMLUX:

💯

In my states I know about 3 local governments without banks


In my own local government there's only one ATM stand

The bank is not even functioning

The hardship is too much

Imagine those in villages

Imagine!
And someone is saying people should die because they think it will make their candidate win election..
Election he won't even come second self

tolue42:


Are you aware millions of Nigerians don't even have access to banks? In some local government in the North, they only have 1 bank, and you'll need to travel for over 100 kilometers to get to the bank... Even if you're educated, +and- you'll prefer to run your business on cash base..

So if you're thinking about yourself, put your country men into consideration.

The northern village heads and counselors, governors etc should come together and work towards bringing banks and ATMs very close to their communities. It's a win win and good for everybody and not rocket science.

But if you have corrupt and bad people/leaders as village heads, counsellors, Governors, senators and presidents you will not see the light and need for advancement which is causing blind repression to ordinary citizens.

That's why you need to ensure to put in seat of power competent and accountable leaders and heads who sees and knows the
needs of the people and have the will and zeal to make things right and easy for his/her people without being tribalistic, religious, selfish, greedy, ignorant to the cry and yearning of the people, gender discrimination, etc. Look at the Leaders life style, antecedents, character and things they have done in the past, they can be easily known to be good or bad. If you put a known bad person on the seat of power because he is your tribe and same religion na body go tell una

Chidibe212:


It annoys me when I keep hearing "Nigeria is not ripe" from perhaps educated folks who uses ANDROID or IOS phones. What happened to following a new trend that makes life easy, safer and better? If they want to remain or go back at the stone age then there should. And it's painful such people resorting to such "trade by barter" are predominantly Northerners. That region should embrace technology and be educated about it. As the world is revolving to a new world and advancement in technology which we have ALL seen is beautiful, Nigeria should keep up. All these Europeans are not Superhumans, there are humans like you and I but the only difference is that white skins create and embrace new beautiful things that causes advancement to the amazement of the entire world while the black skin is bent or repression, wickedness, greed, corruption, jealousy, etc.

Like someone said, this policy have made her to transact on necessities. And like another said, if one person doesn't accept transfer try another person.

If bribery or kidnapping is done via giving CASH, any body can deny it because there was no physical evidence except you "video record" during the transaction. But if bribery or kidnapping is done through transfer then a culprit can be easily apprehended. And so many other things these policy solves which we have been creating awareness for.

We need to grow in advance and every region especially the rural parts of Nigeria in North, south, East and Eest should follow suit.

Stop saying Nigeria is not ripe on anything that leads to advancement, your likes are the ones that are holding us backwards and causing repression. Educate people on the need for advancement and create an avenue for advancement your self and see how the world will be a beautiful place through you and the awesome thing is that you will also make money LEGALLY through it.

PEASE💕

So because we want to run a cashless economy we should make physical cash impossible to get.

Even the advanced countries u referring to hear have easy access to cash. What we should do is limit the amount of cash available to an individual at the ATM.

So if I want to buy something worth 500 naira I should do transfer and keep lossing charges to the banks.

Mbaku:

What you speak of is mostly applicable to urban dwellers who are knowledgeable. Tell me, in your infinite wisdom, how does a grandmother in the rural village deep in damaturu or deep in zamfara operate bank accounts or have access to pos?? Sometimes you people don’t put yourselves in other peoples shoes and just type what you like..🙄

Since you are educated on technology and advancement in the Urban area then Go and educate the rural dwellers and aged persons on the need to match up to the urban dwellers and see how advancement will easily continue and go round... it's not Rock science. If you can't go in person then use radio or TV commercials/jingles consistently and reach out to millions of rural dwellers easily. It's not Rock science

Chidibe212:


The northern village heads and counselors, governors etc should come together and work towards bringing banks and ATMs very close to their communities. It's a win win and good for everybody and not rocket science.

But if you have corrupt and bad people/leaders as village heads, counsellors, Governors, senators and presidents you will not see the light and need for advancement which is causing blind repression to ordinary citizens.

That's why you need to ensure to put in seat of power competent and accountable leaders and heads who sees and knows the
needs of the people and have the will and zeal to make things right and easy for his/her people without being tribalistic, religious, selfish, greedy, ignorant to the cry and yearning of the people, gender discrimination, etc. Look at the Leaders life style, antecedents, character and things they have done in the past, they can be easily known to be good or bad. If you put a known bad person on the seat of power because he is your tribe and same religion na body go tell una

Will you compel banks to establish a branch in any location they don't want to ??

Chidibe212:


Please how many news have you read that the southerners are complaining about this cash crunch?

Anyone that wants to remain backwards should remain backwards. Technology and advancement is here to stay in Nigeria. We must grow

even the U.S and China with their technology advancements haven't gone cashless, it's Nigeria... lol...does nigeria have any tech advancement, dont deceieve yourself, you're gradually going back to stone age..Thanks to APC with their primitive govt policies...

Mad person thinks life start and end in his or her environment

tolue42:


Will you compel banks to establish a branch in any location they don't want to ??

Your GOOD village heads, counsellors, governors, senators, CBN heads and a President that you know very well... that knows the need and yearning of the people and that will take action without mincing words can compel banks to establish in any location that will make life better for everyone. It's a win win for the people and the banks..HOW?

1: close proximity for the people to do transaction and save their money in a secured place.

2: From the little charges the bank collects they make their own profit too

3: exposure of the rural dwellers to urban life style

4: Growth and advancement for the rural dwellers

5, Village heads, councilors, governors, senators, president will be always recognized as good people that brought growth and advancement.


No village in the eastern or southern region of Nigeria is recognized or seen as rural areas or dwellers because all of them have embraced technology and advancement. The North should follow suit. It starts with you. Clamour for advancement and technology. Meet your leaders that means well for the people. Vote leaders that means well for the people. Put leaders that means well for the people on the sit of power. Village chiefs, elders, councilors, senators, governors....Meet them and clamour for advancement

Emefielle has successfully took us back to the time of trade by barter instead of moving us forward in monitory system. What a failure

headboyprince:
even the U.S and China with their technology advancements haven't gone cashless, it's Nigeria... lol...does nigeria have any tech advancement, dont deceieve yourself, you're gradually going back to stone age..Thanks to APC with their primitive govt policies...

When they say "CASHLESS" it doesn't mean that physical cash will not be in circulation but it will be less in circulation. Did you notice a time N100 note was scarce, do you know why? Because the ATM was dispensing only 5h and 1k notes bearing in mind that these N50, N100 notes can easily tear, wear and do away with leading to scarcity of what we commonly call "Change"

With the availability of these "Change" (N5, N10, N20, N50, N100, N200) transaction can go smoothly and each money will have value and worth. For example, I buy goods worth 1,400 from you and I transfer 1,500 to your account or use POS, you will give me N100 paper cash as my change, etc. With that every Naira will have value.

Ewizy:
They should go and learn how to transfer. Problem solved.

QED....thank you jare.... it's not Rock science to learn such. I don't know why people are defending backwardness. It's weird

Buhari took us back to 1597...what that man can not do does not exist

Bearfruit:
Nah byforce to own account.evil world. all dis madness is to lunch in d no buy and sell if you don't collect the mark of beast(science) Genuine Christian pray like never before,it's time to endure alot in this short time rule of devil. Anyone that love the world or any wicked improvement the world bring is an enemy of his soul.

Since you know about these prophecy then you should respect the prophecy and repent from your evil ways IF you have any so that you will not be taken unawares. No matter how much the prophecy is delayed or advanced by man-kind, it MUST COME, be FULFILLED & HAPPEN.

samfrancis1:
Technology in rural communities with no good mobile networks.. even the ones in the few urban areas of Nigeria still have lot of problem when solving bank issue.. before we can start talking tech in Nigeria.. there’d good network service.. youll never see a house roof without building beneath it.. you can jump the process..

Before technology and advancement came into Nigeria especially the urban areas was there good network? The people that installed mast in these urban areas for good network you are enjoying now did they descend from the sky? When you spot, see or find a problem try and spot, see, or find a solution. If you can't create a solution yourself then learn from advanced countries that have gone far ahead of you and use what they are using or make a replica. If you can't do it yourself then make your leaders do it hold them leaders responsible. And when I say leader I am not only talking about the president or governors, the rural chiefs, the kings....they have unhindered access to these councilors, governors and president.

victooman:
some of u are plain inherently stupid l swear,,u think Nigeria start and ends in Abuja or lagos? when last did u travel to the village or visit a farm? dont worry hunger strike will deal with u next year,,, sense will enter ur head by force,, lot of selfish beings,, people supporting this badly and poorly policy are this small boys in office earning 50k below,l can bet u dont even have any business of your own or engage in any one so is very easier for u to come here and type rubbish

Lol.... the only problem here is "CHANGE" it's difficult to adapt to CHANGE and when such change is embraced you unconsciously Start living with it. There's a way out to EVERYTHING except death. For your business, go to bank and request for N50, 100 notes and get a Point of sales(POS). Any thing someone buys worth 1k and above, the person should use POS or transfer. If it's below 9h which can still be done through transfer you can alternative give the person N100 or N50 as balance as the case maybe. Now, the Abuja and Lagos you mentioned are there outside Nigeria? These places are inside Nigeria. The problem are the people you elect as LEADERS from community heads up to President. Ask yourself, are these leaders the likes that can turn our local community to Lagos and Abuja or close to it?

Now...if you are earning 50k as salary, Go to the bank and collect N50, N100 worth of 5k for transport or miscellaneous. Anything worth 1k and above, transfer... anything below 1k use the N50/N100 you collected from bank. Same thing is applicable to business owners. If others does not know how to transfer, use ATM or own a bank account then you should educate them on the need and tell them to educate others.

They are android phones worth 15k/10k or less anybody including the unexposed or uneducated can afford. Educate them on how to use it. It's not rocket science just a the way you learnt how to operate one.

pope777:
Emefiele is doing the right thing at d wrong time,also using this as a revenge on his lost ambition
Cashless policy is good but Nigeria is not ripe for it, many traders don't HV account, even the charges on transfer is too much if it's not dsame bank, aside that, network might even hang ur money. With all these points agree with me that we are not ready for cashless economy




The situation is becoming unbearable!

You bring in a good thing into your life and you spot the problem it can cause, fix those problems


1, Network stability (should be improved)
2, Bank charges on transfer (should be reduced or entirely removed)


Agree with me that when you bring in something new bear in mind that it will bring problems...solve that problem it will bring even after brining it in because it will make it easier to spot the problems.

Bobbiee:
It's funny how quickly Africans can devolve to being monkeys at will once the white man's civilization is removed from them. It just goes to show that the black man as a species is subhuman. Because how come no one in this rural setting is willing to innovate a solution rather than go back to centuries old practices

THANK YOU!!!... Please LOUD IT. Increase the volume more. There should go there and be complaining without meeting their heads and proffer solution. When you put people that you can't hold accountable and don't care in the sit of power you will bear the pain.

motionarena:


So because we want to run a cashless economy we should make physical cash impossible to get.

Even the advanced countries u referring to hear have easy access to cash. What we should do is limit the amount of cash available to an individual at the ATM.

So if I want to buy something worth 500 naira I should do transfer and keep lossing charges to the banks.

Do you know the reason why ATM machines are not littering every on the streets of Nigeria? LACK OF SECURITY. If you don't have the opportunity to visit European countries then watch their movies and see how ATM machines are on every streets and neighborhoods. Vote a leader that you are sure will give you and the entire community, streets and neighborhoods SECURITY on life and properties and see how Nigeria will be better than what it was and have been.


The outrageous charges aspect as well should be looked into by the CBN Governor. It's a problem that needs to be fixed

The real trade of Africans, congratulations nigerian , apc and bubu blasted you guys to the stone age

I predicted that APC would lead us to trade by barter in their 1st term. Thi is not Asiwaju (progress), o. Idapada l'eleyi (Pure regression).

Where is the lie?
I went out to gate in Ibadan yesterday with just 'to' transport fares, by the time I finished what I went to do in the evening. Already exhausted and famished....

Left with #100 in my possession, need a sum of at least #300 to transport back home. I checked all the nearby POS I could see, they were all chorusing no cash, I started going up and down like a headless chicken.

Then, I thought of a thing, entered one boutique, bought like a t-shirt of 7k (have no need for) sent 7500 to the guy so that he could give me back a sum of #500 to use for my transport.
My own money o! I don't have access to it the way I want.

Chidibe212:



Since you are educated on technology and advancement in the Urban area then Go and educate the rural dwellers and aged persons on the need to match up to the urban dwellers and see how advancement will easily continue and go round... it's not Rock science. If you can't go in person then use radio or TV commercials/jingles consistently and reach out to millions of rural dwellers easily. It's not Rock science

How many advance individuals have the ability to learn or have the brain capacity to assimilate new knowledge?? Do you understand what dead brain cells mean?? Okay since you want to sound smart, go and educate the rural community after all, you said it’s not rocket science so lead the way