Good day guys it's me again 
Recently in Nigeria there have been issues regarding money due to a lot of reasons, and that has caused great effect in my country, some take it as a joke, some a serious issue but no matter how you look at it, it will have a great effect on our economy as a country. Recently there have been a policy that banks shouldn't give out old money note which seemed to be good thing but instead it turns out to be problem because of the new note are not available in the country as much as needed. To fully understand this let's go a little bit back into some information from last year;
Last year
Last year being 2022, close to the ending of the year, the new naira notes was introduced into the economy, which caused an alarm in the hearts of Nigerians, as always it was highly castigated and all but still it went through, and a news was given that by next year(this year) January 31st 2023 the old money wouldn't be in use.
Present day
The deadline of the use of the old money was extended to February 10th 2023, which a lot of people still complain, but as of now it hasn't been extended anymore. Looking further concerning the policy of the bank of cashless policy, it has driven the nation into a serious situation, and already the nation is experience a spike in fuel price and this just happen to make it remain at that level as if yesterday a liter was 500 naira but glory be to GOD it was 450 naira per liter and I really hope it goes down, not only has this affected the price of fuel but also the price of commodities due to high cost of transportation, this wasn't actually caused by the new money but the new money helped in sustaining such.
In the aspects of buying and all, without the availability of cash hand people are forced to do transfers for anything they are buying which is causing an overload in the bank network which leads to slow transfer rate which makes it uncomfortable for new buyers at a store seeing that you will be debited but the seller hasn't be credited yet, keeping you there till he sees it and remember the system is been overloaded by multiple transfers which means it will take a couple if minutes or hours depending on your luck. So what about the local markets where transfers are not done ? What will be done that's a question people wonder and immediately rush out to pos outlet to get money which most don't have due to cashless policy (the banks not being able to give out new notes or old notes) and that has caused a monopolistic nature in the market which caused price to go up and up over and over again we are all wondering how it will get down.
I have come to ask my self why the sudden deadline, and why so close what's the aim ?, Most of what I saw are personal opinion, and I will be sharing the one I think is most reliable,
It is believed it is aimed at eliminating corruption, due to the high level if corruption, it is suspected that money has be stashed in unknown whereabouts and the only way to stop such is to tighten the security, then render such money useless in this economy.
My opinion
I actually see it to be a wonderful reason and technique but when I look at the way it was handled I feel like it's a mistake nevertheless, it is a good strategy, I believe it wasn't meant to be implemented now but maybe the information was leaked so they had to implement it, because the law offenders find a way to escape the law, or perhaps they might be other reasons.
So how do we handle this situation ?
For us hive users(Nigerian users) we rarely lack a lot, especially when your a big dog, your already familiar with online transactions and all so, it's safe to say we can used this blockchain as a means to get fast transfer of money will the banks are having issues, for example I was running out of data, going to buy from my bank in other save the cash in hand will take hours and I needed to do something, I simply sent it has hive then immediately converted it to cash on roqqu an online bank(which is suffering from this issue) and got my data, so I do think cryptocurrencies can be the cure to ease the financial situation if online transfers by reducing the overload on the bank systems.
so I urge all users to use hive in as much transaction as often, if your seller happens to be a hive user it will do a lot of good, by easing the system, you will just send the equivalent in hive, and also commodities sellers in this region Nigeria that are on hive please do collect cryptos like hive as payment for now to ease transfer overload on banks and avoid crashing the bank sever, it because if that happens I can assure negative effects are coming. Thanks for reading my blog.
