The problem is corruption in the banking system. Most of the POS operators are owned by the banks. It is business as usual. The problem in Nigeria is not just the government but the people also. The government factor number one and the people factor number two. The result is more hardship for common Nigerian.
Not really. The real problem is the politicians that have taken the naira out of circulation and stashed it in their houses for bribing, vote buying and sponsoring violence.
Always articulate. Very brilliant, Dr Alaje. "Professor" Buhari with his team of motor park economists callously closed our borders and since then, inflation went to the rooftop.
Why can't we put solid measures in place to prevent problems. Why do we always have to spend time solving problems which could have been easily prevented in the first place...and after the damage has been done. A country with so many intelligent and competent people, yet we struggle with basic matters. Disgraceful.
POS down here with us get their monies from traders and ppl are loosing interest in keeping money in the banks bcos they could not get their money when they want to withdraw
This was how Nigeria created the monster of forex black market that we had to deal with over decades. When statutory institutions do not make money available, but would direct you to unregulated allies.
Nigeria with every second person being a Doctor is in the stone age. Why are we still operating a cash economy? I have never understood how point of sale operates in Nigeria. In civilized countries you use your Debit or credit card. Maybe Nigeria needs to go back to trade and barter. I
@ then we shouldn’t be complaining about corruption. A cashless system makes tracking money easier. A politician withdraws billions of Naira for the purposes of election in which sane country is that allowed. A cashless system means you can still get cash from the bank but there has to be a limit. But corruption has eaten into the fabric of the country and the gate keepers are in cahoots with the Government officials and politicians.
Dr Alaje, some recent economic history. In 2015 President Buhari did your bidding and pegged naira at N197 to dollar saying he like you saw no value in market determination. Headline inflation that stood at 9% in 2015 rose to 16% by 2016/17. Inflation has hardly looked back except for when 'Mr unorthodoxy' went on medical leave allowing VP Osinbajo to calm the waters. You want a repeat of this-?
It is just a calculated way to disenfranchise Nigerians of their purchasing power in the midst of the terrible economic realities, a premeditated script to increase the misery index, from the looks of things it is now an annual occurance.
Printing more physical cash in the system would create inflation. We're currently suffering from the over 60 billion naira printed by the last administration of president Buhari under the CBN leadership of governor Emefiele.
@@StandardAsiaPrivateI disagree, printing physical cash does not cause inflation. It's increasing money supply faster than productivity growth that causes inflation. The two are different. Cash in your card is as good as physical cash, coz both can buy anything anytime, no increase in money supply. Cash shortages are just bad service from the Central Bank, it doesn't help with inflation at all. Instead, in Nigeria the price increases is felt in the overuse of POS services.
Ayo Ese always hits me with her weekly different aura and shades of beauty. Last week she looked like whipped cream, today she looks like hot chocolate 🍫🥵❤️
We Nigerians have now settled for noise WITHOUT action. The APC sheep will defend this... Don't worry yourself, just enjoy the government you brought to power.😂😂
This guy is just saying shit, if this how an economist should address the issue…. I am sorry I will never go to school again… please go and research before addressing us
He doesn't seem to explain well what printing money is. Addressing physical cash shortages is NOT PRINTING, it's giving a service that the CB should always be offering. Debt, QE, are examples of money printing. The speaker is failing to put that across clearly
The problem is corruption in the banking system. Most of the POS operators are owned by the banks. It is business as usual. The problem in Nigeria is not just the government but the people also. The government factor number one and the people factor number two. The result is more hardship for common Nigerian.
Mister man when did POS started l'évaluation major problem
Not really. The real problem is the politicians that have taken the naira out of circulation and stashed it in their houses for bribing, vote buying and sponsoring violence.
Always articulate. Very brilliant, Dr Alaje. "Professor" Buhari with his team of motor park economists callously closed our borders and since then, inflation went to the rooftop.
I listen and pay more attention whenever Alaje is speaking.
Congratulations to you on the completion of your PhD. degree, Dr. Paul Alaje
Why can't we put solid measures in place to prevent problems. Why do we always have to spend time solving problems which could have been easily prevented in the first place...and after the damage has been done. A country with so many intelligent and competent people, yet we struggle with basic matters. Disgraceful.
Why is there cash crunch at the Banks but plenty at the POSs ?
Many of those bank managers own up to 50 POS joints each.
POS down here with us get their monies from traders and ppl are loosing interest in keeping money in the banks bcos they could not get their money when they want to withdraw
lol not just the bank managers
😂😂😂 you mean they are protecting there businesses
It’s Nigeria where you have to go through hell to earn the money and then to get it
This was how Nigeria created the monster of forex black market that we had to deal with over decades. When statutory institutions do not make money available, but would direct you to unregulated allies.
Nigeria with every second person being a Doctor is in the stone age. Why are we still operating a cash economy? I have never understood how point of sale operates in Nigeria. In civilized countries you use your Debit or credit card. Maybe Nigeria needs to go back to trade and barter. I
We still need access to cash
@ then we shouldn’t be complaining about corruption. A cashless system makes tracking money easier. A politician withdraws billions of Naira for the purposes of election in which sane country is that allowed. A cashless system means you can still get cash from the bank but there has to be a limit. But corruption has eaten into the fabric of the country and the gate keepers are in cahoots with the Government officials and politicians.
Story long for Nigeria
Nigeria needs help
Dr Alaje, some recent economic history. In 2015 President Buhari did your bidding and pegged naira at N197 to dollar saying he like you saw no value in market determination. Headline inflation that stood at 9% in 2015 rose to 16% by 2016/17.
Inflation has hardly looked back except for when 'Mr unorthodoxy' went on medical leave allowing VP Osinbajo to calm the waters.
You want a repeat of this-?
It is just a calculated way to disenfranchise Nigerians of their purchasing power in the midst of the terrible economic realities, a premeditated script to increase the misery index, from the looks of things it is now an annual occurance.
Their pain go sweet us as SAns
UP APC Administration
Nigeria needs to print more physical cash .
If not, the scarcity will continue .
Printing more physical cash in the system would create inflation. We're currently suffering from the over 60 billion naira printed by the last administration of president Buhari under the CBN leadership of governor Emefiele.
You want to outperform Venezuela or Zimbabwe 😂😅
@@StandardAsiaPrivateI disagree, printing physical cash does not cause inflation. It's increasing money supply faster than productivity growth that causes inflation. The two are different. Cash in your card is as good as physical cash, coz both can buy anything anytime, no increase in money supply. Cash shortages are just bad service from the Central Bank, it doesn't help with inflation at all. Instead, in Nigeria the price increases is felt in the overuse of POS services.
False my friend. Nigeria needs to force the politicians to take their skyhigh piles of cash out of storage and put it in the banks again.
Ayo Ese always hits me with her weekly different aura and shades of beauty. Last week she looked like whipped cream, today she looks like hot chocolate 🍫🥵❤️
Na wa o..😅😅😅😅 No vex o. She's married, so make u rest, abeg.😅😅😅
na person wife you dey look like dis bruh
This guy is not serious ooo person wife make olokpa catch you
We Nigerians have now settled for noise WITHOUT action.
The APC sheep will defend this...
Don't worry yourself, just enjoy the government you brought to power.😂😂
Médicament/ médecine after death
This guy is just saying shit, if this how an economist should address the issue…. I am sorry I will never go to school again… please go and research before addressing us
What specifics do you disagree with? Let's hear.
He doesn't seem to explain well what printing money is. Addressing physical cash shortages is NOT PRINTING, it's giving a service that the CB should always be offering. Debt, QE, are examples of money printing. The speaker is failing to put that across clearly
@@Tirelesswarrior you go tire waiting for these mumus to actually engage in intelligent conversations.