tag:blogger.com,1999:blog-9174986572743472561.post4094381839132709669..comments2024-03-19T03:06:18.197+01:00Comments on Welcome to Linda Ikeji's Blog: CBN imposes limits, penalty on cash transactions….N150,000 for individuals; N200,000 for corporate organisationsLinda Ikejihttp://www.blogger.com/profile/05801432363352079668noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-9174986572743472561.post-48008522411916898542011-05-03T23:05:53.941+01:002011-05-03T23:05:53.941+01:00Egbami enn what is the foolishness coming from thi...Egbami enn what is the foolishness coming from this man's mouth so i cannot go and collect my money any longer from the bank without being charged a fee haba na wahala be this ooo. This is going to cause a lot of problems for the economy and I am speaking as a finance person myself rubbish!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-29478402491868324402011-05-03T21:16:01.150+01:002011-05-03T21:16:01.150+01:00Alicia, politicians carry dollars around! I'm ...Alicia, politicians carry dollars around! I'm not a politician but i operate a "dom" account in Lagos (like a lot of people) and was withdrawing dollars all through April! <br />Good intentions but it won't work IMHO. People will now start keeping huge sums of money at home.Chillingnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-79124011603577093862011-05-03T07:38:34.542+01:002011-05-03T07:38:34.542+01:00they shld focus on important issues...does dt appl...they shld focus on important issues...does dt apply to politicians aswell???Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-43592166187151992022011-05-02T22:38:53.744+01:002011-05-02T22:38:53.744+01:00call me a fruitcake but presumably this is part of...call me a fruitcake but presumably this is part of the new world financial agenda designed to keep track of all our spending habits, etc.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-60132491126144930382011-05-02T21:34:08.814+01:002011-05-02T21:34:08.814+01:00i hiss in my dialect!
i trust naijas! we would fi...i hiss in my dialect!<br /><br />i trust naijas! we would find a way around it and die a quick death!haternoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-46694521349382578962011-05-02T11:46:51.843+01:002011-05-02T11:46:51.843+01:00Plz spare me CBN, whether it is good plan or not, ...Plz spare me CBN, whether it is good plan or not, I dont want to know, all I know is that for a poor man that managed to save N1m in his account and wants to collect his money and you ask him to go bring another N85k is bull-shit, make them go have a rethink.allenynoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-92074842491321991252011-05-02T01:21:03.017+01:002011-05-02T01:21:03.017+01:00people dont get upset, the banks will find a way a...people dont get upset, the banks will find a way around itAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-39484184841836024422011-05-02T00:29:43.810+01:002011-05-02T00:29:43.810+01:00this man is officially working with armed robbers ...this man is officially working with armed robbers cause all i can see is the rate of robbery shooting through the roof as people will resort to keeping money at home which means death toll rises and in essence he is just trying to control the population... hmmmAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-50310921312938557622011-05-01T21:48:21.330+01:002011-05-01T21:48:21.330+01:00CLEMENT what are you even saying sef? I used to wo...CLEMENT what are you even saying sef? I used to work in a bank in Ladipo and that is exactly what those traders do. they transfer money from one account to the other and confirm purchases and it is not efficient. what you want to do in an ideal situation is keep most transactions out of the bank and you need a point-of-sale terminal to do that. do we have infrastructure for that? no. by SiSi Londonnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-59613216816569585522011-05-01T21:28:46.901+01:002011-05-01T21:28:46.901+01:00This will only be hard adjusting to but will be be...This will only be hard adjusting to but will be beneficial in the long run. <br /><br />For instance following the musings of a contributor here, if you want to buy a N3m car, all you have to do is to either:<br /><br />a) Call your account officer and do an interbank transfer, this will take only 24hrs and you collect your car the next day. <br /><br />b) Raise a bank draft or give the dealer a Obiorahttps://www.blogger.com/profile/05525087569068259463noreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-71849555064970696552011-05-01T20:14:35.589+01:002011-05-01T20:14:35.589+01:00Most Nigerians do not have access to bank account ...Most Nigerians do not have access to bank account anyway and this policy will just encourage more people to keep their cash at home as most Nigerians will not be able to afford the withdraw fees, thus increasing pressure on banks themselves to generate money. Even 5000 naira is a lot of money- how many people can get their hands on 5000 naira? We need to solve the problem with our currency first Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-70176871082349257972011-05-01T19:28:38.121+01:002011-05-01T19:28:38.121+01:00I love you Linda but you really should read up on ...I love you Linda but you really should read up on some Economics to know this is a good plan. Of-course inflation will increase in the short run. But longterm economic plans are best and this is a great plan in the long run. Also we need to move away from being a cash based society. In 2011 there is no excuse for having 100,000 naira just in your pocket. It is also very unsafe. At least if a Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-82005170529603845752011-05-01T18:52:22.890+01:002011-05-01T18:52:22.890+01:00well, it is bcos of politician's loots dat pol...well, it is bcos of politician's loots dat policies like dis are made, cos it will encourage more Electronic pymts which can easily be traced to Thieves' accounts; in d 'nearest-long run', dis policy will help us greatly. And SisiLondon, Ladipo pple don't need 2 have a POS, but money can be trsf'd to their accounts as pymt(dis can be confirmed by phone alert)during CLEMENThttps://www.blogger.com/profile/09289563501061836084noreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-41571472883642100692011-05-01T18:52:01.228+01:002011-05-01T18:52:01.228+01:00Of course inflation increases. Either all non cash...Of course inflation increases. Either all non cash transactions have a 10% penalty built in, or people find ways to hold lots of cash...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-17472253764050662482011-05-01T15:29:08.317+01:002011-05-01T15:29:08.317+01:00when all the politicians are looting their money, ...when all the politicians are looting their money, does it apply to them?Alicia says...noreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-52802106915242151282011-05-01T15:06:10.000+01:002011-05-01T15:06:10.000+01:00I DONT NEED TO READ THIS TO KNOW THIS IS A RUBBISH...I DONT NEED TO READ THIS TO KNOW THIS IS A RUBBISH POLICY AND ALMOST AGAINST HUMAN RIHT SEF! AGAIN IS NIGERIA NOT TRYING TO GIVE POWER TO TH ERICH AGAIN? PLS ANSWER O... BULLSHIT!Titonoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-33021436050779930042011-05-01T14:09:53.109+01:002011-05-01T14:09:53.109+01:00All i can say is hissssssssssss!!! People's ba...All i can say is hissssssssssss!!! People's bank will just be under the mattress mehn<br /><br />AdiyaMuse Originshttps://www.blogger.com/profile/13926790332096043066noreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-9921400226951492832011-05-01T13:27:49.121+01:002011-05-01T13:27:49.121+01:00I can't imagine the speaker of the house of re...I can't imagine the speaker of the house of rep or a state deputy governor to be bound by this kind of policy.<br /><br />just imagine I want to buy a new car that is worth 3 million naira, I'll have to cough out N85,000 x 3 to GTB...or start withdrawing 150,000 everyday and keeping the money inside the ceiling till the money is complete. <br /><br />Na Na Na we never chop belle full.....Black Celebrityhttp://black-celebrity.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-17510981636485030502011-05-01T13:17:25.853+01:002011-05-01T13:17:25.853+01:00I guess anyone who has taking Basic/Intermediate M...I guess anyone who has taking Basic/Intermediate Macroeconomics, or is an economist will agree that this is good for the economy in the long run. <br /><br />And no Linda, this won't cause inflation. To summarize, excess money circulating around is what causes inflationFemiluvnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-79067575856228871402011-05-01T11:35:03.711+01:002011-05-01T11:35:03.711+01:00Well, from what I can see Linda has gotten it righ...Well, from what I can see Linda has gotten it right, because she did say 85,000 Naira.<br />I think its a smart plan, but more people will start using debit and credit cards, and then there's the risk of credit card fraud, and so on...Nigerians WILL definitly find a way around, we are too gifted lol<br /><br />Oh ya I love your blog Linda :)Annanoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-6061477484112403682011-05-01T11:27:05.529+01:002011-05-01T11:27:05.529+01:00that is nonsense. nigeria is still essentially a c...that is nonsense. nigeria is still essentially a cash-based society. we dont have the neccesary infrastructure to enable people go without cash. if you enter ladipo market to replace your auto parts do you think anybody there is going to have a POS for you to swipe your card? have we even finished solving the rampant ATM fraud problems?these banking leaders are not even in touch with reality.SiSi Londonnoreply@blogger.comtag:blogger.com,1999:blog-9174986572743472561.post-34535814841173799152011-05-01T09:57:47.141+01:002011-05-01T09:57:47.141+01:00Well you have gotten the maths wrong if you want t...Well you have gotten the maths wrong if you want to withdraw a million naira you would pay a penalty of N85,000 not N8,500 going by the rate you mentioned for withdrawing your own money, as for how this would work its simple it wont people would start using odeshi to save their money at home either that or it would fade out be officially or unofficially repealed like every policy we dont like Anonymousnoreply@blogger.com