Hello Hive.

here

Am guessing that some of us should have adjusted to preparing for the worst at all times since it is becoming almost impossible to hope for the best in this part of the world.

While we are yet to point out a system or structure that is fully and properly functional for the time being the financial aspect of this nations economy keeps heading towards woes.

Let's look at some recent update from the central banking systems that is trying to arrest the situation but everything keeps looking like the good ideas and decisions are bringing negative feedback.

First idea was to redesign the countries fiat(naira). So many arguments came forward, that redesigning the notes will increase its value or perhaps it was targeted at terrorism since everyone has to submit the cash they hoard at home for redesign.
So many bunches of old, wrapped naira notes were recovered from peoples
Another major decision just hit the country and is still trending on twitter about the new withdrawal limit set by the central bank.
What could this aim at?
Drive more people to use cashless policy in the country where majority of its populace are uneducated and rely on cash transactions.

Better still they want to keep some of the remitted funds in the country's reserve since it is totally empty meaning that the country is poor while individuals are rich.

These are contemporary problems facing the country's economy and various decision taking by the central bank to effect change.

Not been a economist is a challenge for me as I havnt been able to do justice to the subject but have only aired out my thoughts from the masses point of view.

Thanks for stopping by.

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Banking system and how they effects Countries economy, Possibility of a Cashless transactions in poorly educated country.

Hello Hive.