Cashless policy and naira change has been an issue in Nigeria for months now and the situation is not getting better and every individuals has been a part of this both buyers and sellers all have one or two things to concerning this policy,
The Government and CBN actually have a good plan but it seems Nigeria as a country or the CBN has not done enough to bring the policy into implementation.
According to vanguard
Some young entrepreneur has said that this cashless policy and the new naira note has affected and destroyed many business that the CBN has not put the right things in place for the policy to work efficiently and effectively
The policy has made things so difficult for individuals and businesses to gain access to cash ,
This policy has affected people in different ways cost of living become so difficult and inflated SMEs owners are getting into losses and debts
And the purpose of this policy is to make life easier and cub corruption and other fraudulent and criminals activities in the country but with the situation of things all this are not yet been taking cares of instead
Untold hardship,
Not only that even individuals that are not business people who just want to have little cash to enable them have their daily needs or feed their family's can not do that despite having some cash in the bank they will have to experience a long queues in the banks and ATMs workers could not go to work due to no cash on them for transportation fare
This harsh impact of CBN policy's has brought serious issues to the country as a whole both entrepreneur and individuals and it has ruined many business and ability to access goods and services as become a problem
Solutions
The CBN and government have a very good intentions and want a change and they want to cub criminals activities, kidnaping,moneylundring , cyber crimes e.t.c
But they need to put every necessary things in place before the implementation
Of such policy's
They must have provided good network for easy transactions and make enough money available before the so called policy also they mush educate people on the advantages of the cashless policy and enough time should also be allocated in other for the information to get to everyone including the villages the nooks and crannies of the country before the success of such policy's can perform it's duty's effectively,
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The cashless policy seems to destroy many businesses, because some people in the city could not coop, with the situation so they had to go back to the village, and businesses life are not that strong, it even affected people's life with too much POS charges, but with time, I believe Nigerians will get used to it.
Very correct bro @johnbenn
It caused more harm than good. It is gradually destroying the economy of the country.
You are correct
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