The disadvantage of the cashless procedure

[uche6215]

Those of us that live outside Nigeria 🇳🇬 and always send our aged parent's fiat currency, how do our aged parents go about this cashless economy?
The problem in our country is getting out of hand, yesterday I sent my grandma N50k, and unlucky for me to hear that no cash, and the only place to withdraw is a 20k withdrawal charge for 50k. So how do our aged parents go about this present situation in our country Nigeria 🇳🇬?

[Wiwo]

Those of us that live outside Nigeria 🇳🇬 and always send our aged parent's fiat currency, how do our aged parents go about this cashless economy?
The problem in our country is getting out of hand, yesterday I sent my grandma N50k, and unlucky for me to hear that no cash, and the only place to withdraw is a 20k withdrawal charge for 50k. So how do our aged parents go about this present situation in our country Nigeria 🇳🇬?

I guess at a point this is the sacrifice all of us must pay if we must achieve an inclusive economy in our country.
-This is a revolution and we have to pay the price, because if not now when?
-the government of the federal republic of Nigeria is aware of the hardship being experienced by Nigerians but the fact is, the gain of this policy will help us as Nigerians.
Insecurity and terrorism financing will be at a minimal level, and our micro economy will know the true value of our currency,
-The implementation process may be poor but to a certain extent we are beginning to see a reset in the economy and not too long from now we will begin to see the effect.
-The scarcity of naira is a result of the forthcoming election because politicians have starched this cash and banks are empty.
-I am not a diaspora Nigerian,  I leave in the country and I can Atest to the the fact that the cashless policy is a good move Nigerians should go and vote.

[RockBell]

Those of us that live outside Nigeria 🇳🇬 and always send our aged parent's fiat currency, how do our aged parents go about this cashless economy?
The problem in our country is getting out of hand, yesterday I sent my grandma N50k, and unlucky for me to hear that no cash, and the only place to withdraw is a 20k withdrawal charge for 50k. So how do our aged parents go about this present situation in our country Nigeria 🇳🇬?

I'm sorry that our parents must go through this, but I can suggest that they don't really need to withdraw all the cash because some stores have POS or rather they can transfer, at least that should relieve them of the plenty of charges. The current cash situation has been a challenge for everyone currently, and the problem now is that everyone is suffering from it. It is a matter of time.

[Silver005]

The situation is not good at all for everybody especially our aged parents we the young youth are finding it so difficult to cope, how much more our aged parents who may not even know how to transact either by POS or by mobile apps,so my Dear this is a death trap ooh our leaders have set for us ooh either you survived it or it catches you. And if something is not done quickly my dear this their policy will lead to another thing ooh, because hunger is not anybody 's friend ooh, and hungry can make one to do what he or she didn't want to do,  so my young youth please this is a very big lesson to All of us in this country we have to be wise and do the needful on election day or else we are going to face more in years to come thank you..

[Zaguru12]

I guess at a point this is the sacrifice all of us must pay if we must achieve an inclusive economy in our country.
-This is a revolution and we have to pay the price, because if not now when?
-the government of the federal republic of Nigeria is aware of the hardship being experienced by Nigerians but the fact is, the gain of this policy will help us as Nigerians.
Insecurity and terrorism financing will be at a minimal level, and our micro economy will know the true value of our currency,
-The implementation process may be poor but to a certain extent we are beginning to see a reset in the economy and not too long from now we will begin to see the effect.
-The scarcity of naira is a result of the forthcoming election because politicians have starched this cash and banks are empty.
-I am not a diaspora Nigerian,  I leave in the country and I can Atest to the the fact that the cashless policy is a good move Nigerians should go and vote.

I also don’t like so many things that this present government had implemented but this cashless policy is definitely spot on. Should this get pulled off then both Buhari and Emefiele should be praised for standing firm on it. We all listened to the news we could hear how the politicians are complaining, this tells us it is affecting them.

A new policy like this will definitely come at a cause and this is part of it. The best we that are knowledgeable in this aspect should do is to start educating or tutoring our older ones on it. Most by teaching them how to run this transfers and also to tell them that there will be lots of people that will pounce on this and scam people.
So mr Uche6215 please tell Grandma this is just a phase and it will pass

[Asiska02]

Those of us that live outside Nigeria 🇳🇬 and always send our aged parent's fiat currency, how do our aged parents go about this cashless economy?
The problem in our country is getting out of hand, yesterday I sent my grandma N50k, and unlucky for me to hear that no cash, and the only place to withdraw is a 20k withdrawal charge for 50k. So how do our aged parents go about this present situation in our country Nigeria 🇳🇬?

It is very disheartening to see how the old and weak ones are been affected drastically by this new money policy. They always say for a change to happen, a sacrifice has to be made. Should we see this as a sacrifice to birth a better nation? We are confused and don’t know what to do now at the moment, but we just hope tomorrow will be better than today. We are all in this together, those at home and in abroad, because one way or the other it’ll definitely affects us all. We pray for an end to this soon.

[CryptopreneurBrainboss]

Those of us that live outside Nigeria 🇳🇬 and always send our aged parent's fiat currency, how do our aged parents go about this cashless economy?
The problem in our country is getting out of hand, yesterday I sent my grandma N50k, and unlucky for me to hear that no cash, and the only place to withdraw is a 20k withdrawal charge for 50k. So how do our aged parents go about this present situation in our country Nigeria 🇳🇬?

Your aged parents shoudn't be living alone in the first place, hire them a maid that'll look after them and she can teach them how to operate the mobile apps or use the debit cards and your problem is solved. I personally don't see any thing bad with the cashless policy although I don't support how it's been implemented with such urgency. It makes me begin to think that there's a bigger picture that we're yet to get like this policy is been targeted at some politicians or something because normally no be so dem dey implement directives.

E suppose take time and this one wey be say every other things come dey fall apart I come begin to believe my suspicious of a bigger game to the cashless policy matter. I no see any disadvantage that won't be addressed in the shortest time possible. Infact this policy go make banks invest in their systems and upgrade to better ones so they can render better services or they lose customers. Our banks are been poorly managed and just small traffic see the wahala dem dey cause everywhere.

[Merit.s]

Those of us that live outside Nigeria 🇳🇬 and always send our aged parent's fiat currency, how do our aged parents go about this cashless economy?
The problem in our country is getting out of hand, yesterday I sent my grandma N50k, and unlucky for me to hear that no cash, and the only place to withdraw is a 20k withdrawal charge for 50k. So how do our aged parents go about this present situation in our country Nigeria 🇳🇬?

We are on no choice now,all we need to do is to apply wisdom when spending or making withdrawal, so that we don't have a big lost at the end of the day. Transfer to those traders that accept transfer and use cash only to petty traders, in this way, you should withdraw little cash because now cash don get value over our money wey dey account, due to insufficient cash. I like the cashless policy even if e dey affect us because e go help our economy in future. Imagine those politicians wey don keep enough cash for house,no reach to swap all their cash because say e to big to go swap am once,don enter one chance because their old cash don expire. Kidnappers no go fit dey demand for ransom again,and also money laundering to stop but spraying of money for party no go stop. LOL

[Alphakilo]

I must say that this is a very tough period in Nigeria now. Because the cashless policy is really affecting everyone in Nigeria now most especially our aged parents. I sent 20,000 to my dad last week and he called me and said that to withdraw 20,000 is 2000 charges. And it took him like two days to see where he can make the withdrawal. And he couldn't make a transfer because he does not know how to transfer. As he would have transfered to the store where he wanted to buy some food stuff.
The only solution i think of now is to be patient with the new policy, withing a short period which is after the election i believe everything will fall in place and that is dependant on us voting the right candidate to ease our suffering.

[Dr.Bitcoin_Strange]

The issue of cash scacity will definitely stop after some months. I'm just glad I don't have any elderly relatives in Nigeria who are going through this right now. OP, is it the bank that is charging your mom 20 thousand naira to withdraw 50 thousand naira? I don't understand that part. Also, instead of stressing your parents by starting to look for places to withdraw cash each time you send them money, you can possibly send the money to a friend of yours (if you have one) who can help you get cash and send it to your mom. It's just an opinion.

[Cryptomultiplier]

Those of us that live outside Nigeria 🇳🇬 and always send our aged parent's fiat currency, how do our aged parents go about this cashless economy?
The problem in our country is getting out of hand, yesterday I sent my grandma N50k, and unlucky for me to hear that no cash, and the only place to withdraw is a 20k withdrawal charge for 50k. So how do our aged parents go about this present situation in our country Nigeria 🇳🇬?

This is my first hearing about withdrawing 20k for 50k. This is robbery and the vendor who wanted to deal this way should be arrested. The cashless economy is so because of the ongoing elections. So as cash will be restricted and am guessing it worked in a positive way because those who usually stomp the voting ground with cash reserves to buy votes from voters couldn't do so this time for fear of being arraigned.
The cashless economy has made more persons to stay still with limited movement to meaningless locations and save more. Although charges are still high, it has made people know more persons names they would normally not know even if they had asked politely.
It has made people use it as an excuse to not refund debts which is a negative, but thank God the advantages outweighs the disadvantages from my perspective here.

[Hyphen(-)]

Those of us that live outside Nigeria 🇳🇬 and always send our aged parent's fiat currency, how do our aged parents go about this cashless economy?
The problem in our country is getting out of hand, yesterday I sent my grandma N50k, and unlucky for me to hear that no cash, and the only place to withdraw is a 20k withdrawal charge for 50k. So how do our aged parents go about this present situation in our country Nigeria 🇳🇬?

The cashless policy get disadvantage wella but that charges too much for 50k.

This cash matter don they even they easy for my side self, because people don they use to am, so many people de open Opay accounts because them no need bank stress to open am and their service good, so e don they very easy to transact and exchange or buy goods, and so many shops don hustle POS machine put for their shops to ease the process.
 

[Belarge]

This cashless procedure is really affecting everyone, but I know it will affect our aged parents the more because most of them don't even a bank account and many of them also believe in cash and not mobile transfers, it's affects our aged parents in both ways ( buying and selling) some of our mothers that are selling this petty table food items in the market will sure be on low sales now because you can't buy from them and want to make a transfer to them, they won't accept it and their reasons are,
They don't have an account,while some will even say you want to scam them, while others will be like ( na how much thing wey you buy wey you want put for account, abeg go give me real money abeg). So it's really affecting their little business, and most of them that wish to buy can't afford to pay the POS charges too, instead they rather bear the hunger and starvation and it can also lead to them getting sick because of lack of food..

And another problem is the POS people, their charges are just too high, even me as a youth most times when I want to collect cash when i think of the charges eh, I will just declined the thoughts and look for another means to purchase what ever I wish, the last time I collected 1k from POS agent, I had to pay a charge of 500 naira, imagine the POS girl just divided my money into two, omoh e pain me oo, Even as I dey talk am now sef, e still dey pain me,

So the cashless procedure is really affecting, and I pray it ends soon abeg, because we Don tire...

[DaNNy001]

And another problem is the POS people, their charges are just too high, even me as a youth most times when I want to collect cash when i think of the charges eh, I will just declined the thoughts and look for another means to purchase what ever I wish, the last time I collected 1k from POS agent, I had to pay a charge of 500 naira, imagine the POS girl just divided my money into two, omoh e pain me oo, Even as I dey talk am now sef, e still dey pain me,

So the cashless procedure is really affecting, and I pray it ends soon abeg, because we Don tire...

This part is the only tin wey dey pain me for this whole cashless policy issue and the thing dey ves me like mad. because this pos people wan come make life even difficult for us more than the c.b.n itself. Just imagine this kind thing, you dey do pos and you go collect moni for bank and o.k fine you pass through stress to get moni but does that warrant you to be charging a mouth watering fee of 50% of your customers actual money, I mean these people needs to be dealt with seriously.  Boys suppose beat any pos person wey dey charge more than 200naira for every 1000naira. At least to cover your stress and transport a 200naira fee for 1k is reasonable enough and payable by the customers.

[Lida93]

The hardship is not only coming from the cashless policy situation itself but also from the unscrupulous opportunists that have decided to use the medium to unjustly enrich themselves while putting others in a tight corner amidst a very limited source of having access to physical cash. And these people are the likes of POS operators, fuel station pump attendants selling the fiat to PoS operators who later come to sell same fiat in higher proportion that only worsen the financial situation of the naira scarcity we're facing.
For me, it's the the cashless policy that's a problem, it's rather Nigerians alike that are usurping and unduly extorting the process.

[Marykeller]

To every problem wey we face for this country we should find means to survive from am cos complaining from now till tomorrow no go solve am. This cashless policy don come to d so.

Na shameful stuff sae we find in ourselves in a messy state wey our government no make out enabling ground for us to work through am first in this hard time. But as the matter be so nah to make plans on how to help ourselves and our aged parents wey no fit run this cashless policy for this country survive.

Ways wey go fit help out our aged parent's wey d inside villa na to send money and food to them through transit. Package the money wella for them inside foodstuff and send it to them. That's the way my friend does send money to his aged parents at the villa and em d work for am.

Na peso wey no know wetin em go use money do, go pay 20k for 50k for POS hand. These days peso d go inside supermarket d buy everything wey need for house and em go pay through transfer or debits cards. You can even beg for cash-back of 1k-5k for their hand (supermarket) to give you sef. Like that you go d roll small small. This na the ways wey me and my friends d survive in this hard times. At times wey go beg bus drivers for cash so that we transfer give them or use our ATM card d pay for people wey wan use cash buy things for supermarkets