HAMPER OF GOOD THINGS FOR ALL MY READERS

HAMPER OF GOOD THINGS FOR ALL MY READERS

A end of the year hamper with goodies for you all. Unpack, place in your kitchen, pantry or refrigerator and enjoy the contents. Cheers. 

A PERSONAL OPINION

Just a quick one in response to the Government of my country Nigeria on the new policy to be commenced in January 2026 across all banks. The policy says no matter how much you have in your account, you cannot withdraw more than N500,000 a week for individuals and N5m for corporate. ATM withdrawal limit is N100,000 a day. Excess withdrawals will be by permission and will attract 3% charges for individuals and 5% charges for corporate. 

I personally think this should be reconsidered for the following reasons. 

1. From the little Economics I read in school, I think , by law, the money in the bank is your money, not the bank's money nor the government's money. You deposited it in trust, not donated it to the bank. The law that established banking gives every depositor the right to all their funds anytime they wish. If I decide I want to use all my money at once, I think, by right, I can do so. All these are clearly enshrined in our laws even though banks regularly violate this law in my country. They often tell you no money, come next time. They probably have their reasons though too. This has led to several fight, protests and burning of banks. People hardly go to court to sue for damages in my country for whatever reason. Civil cases are really not common. They often settle quarrel and insults with fists, weapons and other means. They often resort to violence. This has wasted many lives. Our judicial system need to look more into this. Human right violation cases hardly go far here. You might end up spending more than the case is worth and still spend years in adjournment. Most such cases die natural death, thus the high level of retaliation, jungle justice and violence. I have experienced many human right violations and insults that in any other country that speedily attend to such, I would have made millions of money in damages. Back to my point, remember, it is my money. I placed it in the bank for safekeeping and in trust. By law, I must have access to all my funds anytime I wish, even in withdrawals. Someone said, they want to discourage moving cash here and there and reduce emphasis on cash transactions. Our end-time Bible teachers might see it as the slide towards control over personal finance the book of revelation spoke of. That aside, not my point here. I think enlightenment would be better rather than force. 

2. When emergency arise. Remember, the last election and the imbroglio over old notes, new notes. Some lost their lives. A pregnant woman died in labour with her unborn baby because the hospital refuse to collect the old note. Those same notes later went back to use. Hope this will not create similar scenarios. 

On the other hand, this will be a huge turnover for the banks and telecoms in transfer and sms alert charges if people do more of transfers. ATM queues will increase daily. I think 5% of N10m withrawal is N500,000 and so on.... It will be a boom in charges for banks. 

Well, I think the stakeholders will find a balance so all will be at Peace. Thanks. 

Tosin Oke

Nigeria.