Cashless policy in a country that is not ready to be Cashless.
This past few weeks had been hell for most people living in Nigeria most especially the middle class people like us. We all know the new naira note happens to be the origin of this problem. The government decided the hardship isn't enough, let us look for something else to add to the hardship and purnish the people. If not, why will you force people to be spending the new notes that is not in circulation yet and ban the old note that's in circulation. Now the problem has run so deep that all their late minute solutions aren't working.
At this present moment, 80 percent of the transactions made by people are online. We are foced to make transfers and use ATM to pay because money is generally not in circulation and guess what? That sucks too. The network of the banks have become so worse and you can't even afford to go to the banks cus of the terrible queue you will meet there. Me personally love Cashless policy where every transactions are made online but we have to face the fact. Our country isn't ready for that because some things have to be in place first before that can be executed successfully.
First of all, the bad network ought to be dealt with. Imagine transfers delivering after days of making them, being debited twice, ATM not working when you have to pay, shop owners rejecting online payment and requesting for cash that isn't available. It's just so sad and so so dissaponting. Having money and not being able to spend it. I just hope things turn out for the better soon. The Supreme Court have been trying to tackle the problem by asking people to be spending both the old note and new note but the people refused to take the old note. And the annoying part is, the banks are giving out the old note that we can't spend. If you now take it back to the bank, they refuse to collect it. Just imagine that. We have a long way to go in this country and I sincerely hope and pray the government take the people seriously and work hard to make live better. This current situation is just terrible.
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See I just weak... I no even know where to start.
Poor network, no Cash.
Have we ever had it this bad before?
May God revive Nigeria!
You have a message in your dm on what's app.
Amen o. It's been really hard but I know we will survive.
Message seen and replied dear.
Even the banks are refusing to take the old notes when they should be the ones remedying the mess created by the Central bank.
You are right, Nigeria is not ready for a cashless society, it is simply making a fool of itself by forcing people to transition to a cashless society. It's a pity.
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It's really sad, i watched a video where old notes are being bundled in sacks and destroyed. I was almost crying. The old notes are not even in circulation anymore talkless of the new note.
It's been so hard, we have to be calling people around for cash to give my brothers to school when it's not like you don't have money in your account.
I just hope and pray things gets better.
I feel that I am in favor of the cashless system. However, I think you're also correct. It's bad idea to move society toward the next "great idea". Countries should employ a project plan of sorts that allows demonstrating an understanding of the current system and the impact they'll feel after implementing the new system.
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This cashless system isn't something anyone planned for or saw coming. In the history of changing notes, there was never a deadline. We usually spend both the new and old notes till the old slowly leaves the circulation. Why on earth will you ban old notes knowing fully well the new notes aren't in circulation yet? That is pure wickedness. This forced the country into a cashless system that the banks aren't prepared for and can't even handle Well and its messing up everything. Its simple sad and annoying
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