No Cash Please

There’s a battle looming

Europe is leading the world with this technology

Nigeria: The Imperative of Cash-Less Society

Interestingly, this is not the first time attempts have been made to move Nigeria towards a cash-less society.

The Money Laundering Prohibition Act (MLPA) of 2004, presently before the National Assembly for possible update and amendments, took cognisance of this.

The first section of the law, prohibits anybody or body corporate in Nigeria from paying or collecting cash when buying or selling any item in value exceeding N500, 000.00 for individuals and N2m for organisations except through a transaction involving a financial institution.

Azerbaijan to build “cashless” society

Today in Baku first Deputy Chairman of the Central Bank of Azerbaijan Alim Guliyev has stated that the state program on development of electronic payment system and cashless payments for 2011-15 that is currently underway is based on the idea of “cashless society “creation.

” Within the first such program implemented in 2005-07 the infrastructure and potential for development of electronic card payments was created. At present they are not fully used and our purpose is to achieve full realization of this potential “,- A. Guliyev said.

Comment by Adamantine:

Would anyone argue that the day is coming when all nations restrict the use of cash.


3 thoughts on “No Cash Please

  1. Of course – and when the system to secure that fails, everyone will have to receive a secure implant or machine readable mark – in order to ensure the integrity and security of the system of course. It will of course bring a safe and secure tomorrow where fraudsters, black-marketeers and other undesirables will be unable to undermine the new utopian world economy brought about through the brilliance of…oh I can’t go on anymore.. but that’s exactly how it will go.


  2. yes justasheep and I pray it happens sooner than later, I am growing weary of the way things are going all around me for sure


  3. If we have a roof and clothes and we grow our own food then their is no reason to even get a chip implanted or use cash anyway. God provided us with those 3 basic elements we need to live and anything after that is a want.
    So it basically comes down to people wanting the system or not and its a pretty clear choice in my opinion. But people are lazy and would rather rely on industry to provide for them.
    Interesting times ahead.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s