21–30 of 157 posts
Earlier quoted context omitted.
Who doesn't like paying 5% for getting the money that they already own?
I think the policy is outrageous, but that doesn't make the title correct. Also, 5% is not really significantly more than the typical fee an ATM already charges.
I'm in SEA, Cambodia to be specific, and the ATM % fee is around 1%. This is quite an improvement from a few years ago (where 5% was expected).
55% of Nigerians have access to electricity. https://data.worldbank.org/indicator/EG.ELC.ACCS.ZS?location... Seems like the government knows their priorities.
Would it still count as access if the electricity was only available for an hour a day on average? Or would it count if said access comes mostly from privately-owned diesel generators?
If the answer is 'yes' to either question then those numbers are quite accurate.
This is programmable money where the government controls how and when you can spend it. It does not take long for most people to figure out how this restricts their freedom. I guess they will make it a bargain in some way such as charging a higher rate for cash as they are doing here. This may be a training ground for other governments to learn how to force or incentivize us to use their CBDC's.
What was mentioned was a service fee for withdrawing cash above the limits from bank branches. Which also seemed surprising - to reduce the demand for cash-cash, restrict the supply. That that article mentions 85% of cash in circulation is held outside banks does not also seem alarming, it'd be interesting to read more about money velocity and other non-cash-cash outside the CBDC like non-CB Digital Wallets.
55% of Nigerians have access to electricity. https://data.worldbank.org/indicator/EG.ELC.ACCS.ZS?location... Seems like the government knows their priorities.
Excepting COVID, where the line went flat, it seems to be consistently improving. Compared to the other countries in Africa, I'd say they are on par or much better off. Not a great situation, but seemingly improving at a steady clip, so maybe it isn't as bad as the bare number would imply. To steel-man the government's motives, I might hazard a guess they are hoping that a digital currency will attract more investmen…
P.S: I’m a Nigerian living in Nigeria
https://twitter.com/punk6529/status/1494444624630403083?lang...
Or as an unrolled thread here: https://threadreaderapp.com/thread/1494444624630403083.html
Earlier quoted context omitted.
I think the policy is outrageous, but that doesn't make the title correct. Also, 5% is not really significantly more than the typical fee an ATM already charges.
I don't know any local-ATM that charges % fees for local transactions. I'm in SEA, Cambodia to be specific, and the ATM % fee is around 1%. This is quite an improvement from a few years ago (where 5% was expected).