Also supported Emefile's senseless cashless policy which was openly brandished as a political tool to curtail so-called voter inducement and to end kidnapping and banditry.

The idiots did not see that Emefile was abusing his office using the cashless policy that was meant to actually mop up excess liquidity printed and circulated by same Emefile to prop up the failing economy that he contributed immensely to its collapse.

Another rubbish thread from the usual suspect.

Emefiele aside, cashless policy did have some sense in it

First, reduce banking costs, second, better manage the economy, and third...remove cash that was outside the system and force everyone onto the banking system...which long term would have made kidnapping and banditry difficult to prosecute with cash. (Since everything is on the system, nothing like carrying big bags to meet the crooks).

The problem was, it was too rushed , too soon. Had it been implemented in 2019, and over a year, it might have made some sense by 2023.

(I am not a PDP, APC, LP supporter, nor do I back tinubu or emefiele or Buhari).

You go still trek go back home after doing todays owomida work.


Nonsense

nairalanda1:
Emefiele aside, cashless policy did have some sense in it

First, reduce banking costs, second, better manage the economy, and third...remove cash that was outside the system and force everyone onto the banking system...which long term would have made kidnapping and banditry difficult to prosecute with cash. (Since everything is on the system, nothing like carrying big bags to meet the crooks).

The problem was, it was too rushed , too soon. Had it been implemented in 2019, and over a year, it might have made some sense by 2023.

(I am not a PDP, APC, LP supporter, nor do I back tinubu or emefiele or Buhari).

Cashless policy had zero sense.

It put banks as un wanted business partners in every transaction.

The banks made huge money from fund transfers and also currency trading.

The human suffering especially those outside the formal sector especially in rural areas was immense.

How any of you try to rationalize a very bad policy shows how partisan you reason.

Sweetrosie:

You go still trek go back home after doing todays owomida work.


Nonsense

All humans are bipedal.

DomPerignon:



Cashless policy had zero sense.

It put banks as un wanted business partners in every transaction.

The banks made huge money from fund transfers and also currency trading.

The human suffering especially those outside the formal sector especially in rural areas was immense.

Which is why it should have been done over a year, and should have been done much earlier, instead of later.

(Besides it was making things difficult for the crooks and criminals ...especially kidnappers.)

Considerting the amount of free cash out there, which means that anyone can do evil and the evidence is not there for prosecution...

Also, the world is going cashless. Keeping money in a box in your room is no longer feasible.

How any of you try to rationalize a very bad policy shows how partisan you reason.

Like I said, I am no apc, pdp or lp supporter, and for good reasons.

My reasoning is my own.

nairalanda1:


Which is why it should have been done over a year, and should have been done much earlier, instead of later.

(Besides it was making things difficult for the crooks and criminals ...especially kidnappers.)

Considerting the amount of free cash out there, which means that anyone can do evil and the evidence is not there for prosecution...

Also, the world is going cashless. Keeping money in a box in your room is no longer feasible.





Like I said, I am no apc, pdp or lp supporter, and for good reasons.

My reasoning is my own.

Just get out.

DomPerignon:


Just get out.

Ah yes, and I thought we were having an innocent discussion

Well, like the kangaroo said to the dove, let she who has beards play Chopin

Very correct, if the man did not include political undertones and stuck only to monetary policy, he could have spread the whole thing across the year and still achieve the same result. Now we have had to throw the baby with the bathwater because of Meffy's foolishness.

nairalanda1:
Emefiele aside, cashless policy did have some sense in it

First, reduce banking costs, second, better manage the economy, and third...remove cash that was outside the system and force everyone onto the banking system...which long term would have made kidnapping and banditry difficult to prosecute with cash. (Since everything is on the system, nothing like carrying big bags to meet the crooks).

The problem was, it was too rushed , too soon. Had it been implemented in 2019, and over a year, it might have made some sense by 2023.

(I am not a PDP, APC, LP supporter, nor do I back tinubu or emefiele or Buhari).

nairalanda1:


Which is why it should have been done over a year, and should have been done much earlier, instead of later.

(Besides it was making things difficult for the crooks and criminals ...especially kidnappers.)

Considerting the amount of free cash out there, which means that anyone can do evil and the evidence is not there for prosecution...

Also, the world is going cashless. Keeping money in a box in your room is no longer feasible.





Like I said, I am no apc, pdp or lp supporter, and for good reasons.

My reasoning is my own.

A modified version should have been done.

If you wanted cash, pay a 2% fee. That way, it would be a win/win.

If the customer really wanted cash, he'd pay a fee costly enough to take care of the banks handling cost. The customer would also get his cash.

Sanusi almost got it right here.

DomPerignon:
Also supported Emefile's senseless cashless policy which was openly brandished as a political tool to curtail so-called voter inducement and to end kidnapping and banditry.

The idiots did not see that Emefile was abusing his office using the cashless policy that was meant to actually mop up excess liquidity printed and circulated by same Emefile to prop up the failing economy that he contributed immensely to its collapse.

So what’s your point?