(Analysis) CBN’s Withdrawal Limit Aims at Strengthening Cashless Policy
Time has come to truly educate many Nigerians on the critical importance of understanding the key issues in the new withdrawal limits before taking to criticism.
It is about cash withdrawals.
You can transfer billions if you like.
You can spend millions if you like.
But it must be trackable.
Use cheque
Use transfer
Use PoS
But you must not have more than 20k cash with you.
Imagine if robbers now know they can’t get more than 40k from any family after all their efforts!
Imagine if kidnappers know they will wait for 15 years to collect a ransome of 5m.
Then they will have to use 5 years to deposit it in their account to be able to use it.
Crime will nose dive naturally.
Let us give this policy a chance.
Above all, we will now know a man’s source(s) of income.
Rituals will end along with cases of missing persons
Unbridled spending and balling will cease.
It will be good for our economy and security please.
