To whom do we point fingers at? || Sad at Nigeria's Economy
Good morning hivers,
Who exactly do we point our fingers at😩?
It is very bad to the extent that without even buttressing this topic and I mention Nigeria that almost if not all Nigerians already have one or two things to chip in because it's really becoming annoying and unbearable.
Haven discussed at length with various people about the current economic situation of the country, I got to understand that the CBN Governor of Nigeria actually had good intentions with the new naira notes he printed but then he failed to make necessary preparations for the challenges that will come with it and that is why we are currently suffering the way we do
We can't even get our own Money 😢
What was the great plan?
I got to understand that he, the CBN Governor of Nigeria wanted to use this medium to reduce the large Naira notes in circulation which were contributing to the inflation and loss of value our currency is suffering worldwide (although it is important to note at this point that , the inflation of Nigeria Economy is multifactorial) but I guess he wanted to start from somewhere in tackling the problem.
By so doing, the money in circulation will be reduced to a very great extent and the inflation might be reduced a bit.
So Why Are We Suffering Now?
Just as every Nigerian will attest to, we are currently suffering irrespective of your social status in the country, the rich the poor the beauty the ugly, we all are suffering because of this particular New Naira Note decision but why?
Bank ATMs
You wake up very early in the morning and then your next direction is to rush to one bank's ATM or another, running around from one place to another... People don't even sleep well at night again☹️
Most days, you will stand in the queue from morning to night and still go home without a dime
To whom do we cry to😢
POS Agents
When you don't succeed in the Bank ATMs, your next option is the POS Agents that get money in one way or another with the connections they have with the bank officials....
With your weak legs and tired soul, you meet these agents and they will tell you to pay a service charge of #300 for every #1000 you will withdraw,heeeeiiii,
When will this end?
What type of country is this?
Is our redemption even close at all?
Online Bank Apps
You quickly rush to your mobile bank application as your last resort of paying for goods and services to keep the day's activities running and you get to notice that the Bank App is not even opening, you try your different networks and yet it doesn't open.
You opt in for a Ussd and yet it still doesn't go.
*So how exactly are we meant to pay for the goods we buy and receive payment for the services we render within this period or should we just fold our hands and submit ourselves to Hunger and starvation? *
If you are really in need of cash and you don't have an option, that means you will be paying a #1500 charge to withdraw #5000.... Too sad.
That's the situation we find ourselves here in Nigeria currently.
In all these happenings, to whom do we point our fingers at?
Is it the POS Agents that collect exorbitant service charge?
Is it some Bank officials that hoard these New Naira notes and only sell to the POS Agents?
Is it the CBN Governor who rushed into solving a problem without laying groundworks on the solutions of the effects?
Is it just our fault for been a Nigerian?
I really don't know who it is myself but the person should pity us😢
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A few years ago the same thing happened in India too, then we also faced a lot of trouble at that time
. But after some time everything became normal. At that time, we also took a lot of help from online payment and now online payment has become very popular.
Yes, it has become very popular but then our network is so poor that we can't even effectively make use of online payment and above all, many traders here doesn't even access the online payment too.
We will survive.. thanks for your reply
Hi @sperosamuel15 It is good to drain and release that helps us to seek balance. Don't believe it is a more common situation worldwide than you imagine. I live in Venezuela and there are similar situations.
It's so so frustrating but I believe we will survive
Of that I have no doubt. We must not lose heart, we must evolve and grow. Always keep in mind that all chaos has order, and from adversity often comes evolution. I think they are processes.
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I'm So sorry for this situation ☹️
Send you my best wishes!
Thank you
Sadly it's the corrupt and criminal bureaucrats and banks that need people to be mad at them, mostly the bureaucrats. The situation that's arising with the Nigerian currency is truly a massive failure! The changing of the note and the lack of availability of it is inexcusable in modern times where things move so quickly via the internet and shipping. I hope the situation improves and you Nigerians can hold these people responsible for it, to account!
I really hope so
I just hope the best happens to Nigeria also.... It's so hard over here
Yay! 🤗
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