The failure of the naira notes may goad people to embrace a cashless frugality, but is Nigeria really ready to go cashless? We’ve seen how fluently people can be left stranded if they’ve no access to cash. However, also we must insure that the banks and other fiscal institutes have the structure to support a completely cashless frugality, If we’re to be weaned off cash. Failure to do this and we ’d have people who work hard but can not have access to their plutocrat and will be left stranded all the time.
Maybe we must also decide what it truly means to go cashless. Would every seller have to get a POS? Will the groundnut dealer peddling down the road have to get a POS? Will tomato merchandisers in the request have to stay for 3o twinkles for a client’s transfer of 300 naira to be verified? What other( nippy and dependable) digital means of payment would be made available for citizens?
It turned into accrued that the unavailability of the new notes at ATM stands made tempers rise after one dishing out the new naira notes became to be had.