Nigeria has limited the withdrawal q of cash

Yugocean

Notable

Member

Jun 23, 2022

1,221

192

Dex

$0.000

Raw Dex

$0.000

• Dec 8, 2022

• #1

Government of Nigeria has limited the daily and weekly cash withdrawal from ATM and imposed fees on extra withdrawal from Banks. It is said to be an attempt to increase the use of CBDC.
Both individuals and businesses are forced.

 

Hate2Wait

Very Familiar

Member

Jun 16, 2022

24,934

2,499

Dex

$0.100

Raw Dex

$1.281

• Dec 8, 2022

• #2

I don't think its a good move but what is CBDC?

 

Yugocean

Notable

Member

Jun 23, 2022

1,221

192

Dex

$0.000

Raw Dex

$0.000

• Dec 8, 2022

• Thread starter
• #3

Ginger said:

I don't think its a good move but what is CBDC?

Click to expand...

Central Bank digital currency, an e version of paper currency

 

Hate2Wait

Very Familiar

Member

Jun 16, 2022

24,934

2,499

Dex

$0.100

Raw Dex

$1.281

• Dec 8, 2022

• #4

Yugocean said:

Central Bank digital currency, an e version of paper currency

Click to expand...

Thanks. I hope India does not add any such restrictions because it'll be tough

 

Yugocean

Notable

Member

Jun 23, 2022

1,221

192

Dex

$0.000

Raw Dex

$0.000

• Dec 8, 2022

• Thread starter
• #5

Ginger said:

Thanks. I hope India does not add any such restrictions because it'll be tough

Click to expand...

At present condition, there is no plan to promote eRupee too much.

 

cherry123

Popular

Member

Sep 5, 2022

27,471

2,612

Dex

$0.591

Raw Dex

$0.101

• Dec 8, 2022

• #6

Heard about this and I don't understand our government. With all the problems we are facing this is what they are facing to do.

 

Enxx

Notable

Member

Sep 5, 2022

2,949

320

Dex

$0.000

Raw Dex

$0.000

• Dec 8, 2022

• #7

Ginger said:

Thanks. I hope India does not add any such restrictions because it'll be tough

Click to expand...

We can't really say it will be tough because they are trying to impose cashless policies and it might reduce the corruption rate in the country.

 

cherry123

Popular

Member

Sep 5, 2022

27,471

2,612

Dex

$0.591

Raw Dex

$0.101

• Dec 8, 2022

• #8

Well whatever it is I hope it will be to the good of everyone that's how it should be

 

Hate2Wait

Very Familiar

Member

Jun 16, 2022

24,934

2,499

Dex

$0.100

Raw Dex

$1.281

• Dec 8, 2022

• #9

Enxx said:

We can't really say it will be tough because they are trying to impose cashless policies and it might reduce the corruption rate in the country.

Click to expand...

So you mean you can pay online and this is just a withdrawal limit on ATMs?

 

cherry123

Popular

Member

Sep 5, 2022

27,471

2,612

Dex

$0.591

Raw Dex

$0.101

• Dec 8, 2022

• #10

Ginger said:

So you mean you can pay online and this is just a withdrawal limit on ATMs?

Click to expand...

Yeah that's what it means it's withdrawal from ATM s

 

Hate2Wait

Very Familiar

Member

Jun 16, 2022

24,934

2,499

Dex

$0.100

Raw Dex

$1.281

• Dec 8, 2022

• #11

Then its fine but I don't think even that will help in any way to reduce or stop corruption

 

cherry123

Popular

Member

Sep 5, 2022

27,471

2,612

Dex

$0.591

Raw Dex

$0.101

• Dec 9, 2022

• #12

Ginger said:

Then its fine but I don't think even that will help in any way to reduce or stop corruption

Click to expand...

That's the funny part of it. I wonder how that will stop bribery and corruption in the country

 

eldavis

Very Familiar

Member

Sep 4, 2022

15,124

665

Dex

$0.000

Raw Dex

$6.576

• Dec 9, 2022

• #13

Its more like the government is always looking for new ways to stress and frustrate the masses. We are still struggling with the current fuel price and the fact that there is hardly power supply.

 

Hate2Wait

Very Familiar

Member

Jun 16, 2022

24,934

2,499

Dex

$0.100

Raw Dex

$1.281

• Dec 9, 2022

• #14

cherry123 said:

That's the funny part of it. I wonder how that will stop bribery and corruption in the country

Click to expand...

The thing is those who use corrupt practices still find a way to get these things done

 

Enxx

Notable

Member

Sep 5, 2022

2,949

320

Dex

$0.000

Raw Dex

$0.000

• Dec 9, 2022

• #15

Ginger said:

So you mean you can pay online and this is just a withdrawal limit on ATMs?

Click to expand...

We should be able to pay online and make transfers.

 

Hate2Wait

Very Familiar

Member

Jun 16, 2022

24,934

2,499

Dex

$0.100

Raw Dex

$1.281

• Dec 9, 2022

• #16

This is good then but I hope this somehow works and your country can prosper

 

Niyi Briggs

Well Known

Member

Nov 27, 2022

7,835

318

Dex

$0.000

Raw Dex

$0.200

• Dec 20, 2022

• #17

It doesn't make any sense. We are not ready for a cashless economy. When we are still trying to stabilize 3g networks, you want to be trapping my funds anyhow.

 

Hate2Wait

Very Familiar

Member

Jun 16, 2022

24,934

2,499

Dex

$0.100

Raw Dex

$1.281

• Dec 20, 2022

• #18

These things won't work because people find ways to still get their work done