A: Experiencing Financial/ Economic Dilapidation. A Big Day Tomorrow?
So I shook off the illness I've been plagued by for the past two weeks and went to the market yesterday. A man's gotta eat, but in these desires to survive by feeding, I've seen people who have reduced their food intake, not because they cannot afford a decent meal but because accessibility to physical purchasing power has greatly reduced, and owning or having cash, now comes at a very great cost. I've been cashless for seven days now, (the longest I've ever gone in my entire life) and after these seven days.
I've discovered that one's ability to survive is greatly tested by lack and limitations, and even people who have been previously exposed to plenty will find ways to deal with scarcity because I believe man attains his innovative best when his survival is threatened.
So throughout these seven days, I've been feeding on scraps at home and trying to avoid financial commitments that would require physical cash to handle. I believe such an irony is queer. Looking at one's bank account, the figures on the screen signal evidence of ownership, but converting these figures into physical cash to run your life becomes virtually impossible.
In reality, money in the bank only gives mental assurance, in unlikely situations where a bank goes bankrupt and people experience withdrawal restrictions, this is when they'll understand that the only way to truly own your money is to own it.
The Nigerian government is currently proving to its citizens that they do not own anything unless they (the government) will it. All over the internet, videos of people scaling bank fences, putting their lives in danger to access their hard-earned money is proof that this nation has capitulated. If the monetary system of a state fails, it only signals chaos, but, surprisingly, the government would allow her policies to affect financial sectors that are supposed to enjoy independence and be free from external control.
When I was at the market yesterday, people purchased 1000 with 300 naira, which means a person who is trying to buy 10k will pay 300x10 which is 3k.
In real-time, 3k is now meant to be disposable, meanwhile, in real-time, you work hard to earn it, only to use it to buy 10k, which means you're incurring loss on money withdrawn, while also incurring loss through inflation. Every Nigerian is currently playing a losing game, no matter how smart and innovative they are. This means for every time you're trying to find ways to beat the cheating system, you're going to be incurring incalculable losses in places you don't even fathom.
I haven't felt so poor in a long time, the mental limitations that come with knowing that you have to fight to have access to money are cumbersome.
When I was heavily sick, sometime last week, I couldn't buy some decent medication, because cash is difficult to get an online bank transfer shut down. The most surprising thing is that a lot of Nigerians are used to suffering and hardship, they do not think it's a situation that's evitable. Why? People are constantly making mistakes.... Sentimental mistakes prevent them from making realistic choices that might herald a workable system.
A lot of people believe that Nigeria is doomed to fail irrespective of the choices they make, while this is untrue, the elites and the ruling class have created an illusion, that Nigeria is already dead, and people shouldn't think of creating a revolution that would abort the cohesive governance methodology of the old guards.
It's all mind games.
To be able to control people, the elites have realized that meandering people from what matters more is how to do it. The average Nigerian is hardly calculative, we pay attention to the things that are trending, rather than building slow momentum that can create a force of change.
In reality, the Nigerian government is not primarily the problem of Nigeria. Nigerians are the problem of Nigeria. People are educated, exposed, and informed, but they still allow things like religious and tribal sentiments to influence their choices.
When the ones who have finally snapped out of this zombic mentality, this is when the elites/ruling class, resorts to using scarcity and poverty to further control and enslave people. Tomorrow is a big day in Nigeria, another opportunity to abolish the old guards and install something different, but even in the state of perpetual suffering, some people are still rooting for the old guards, when the echoes of their travails should remind them that they need to take back the country for the sake of the children who might grow up to become tech and crypto enthusiasts.
Nigeria is currently not tech and crypto-friendly, and these two are the biggest innovations that are currently bringing opportunities.
The current old guard has outrightly banned the latter (Crypto) while everyone who is trying to indulge in the former (tech) is limited in resources and Opportunities and is currently being touted as criminals, haunted by corrupt law enforcement agencies. Not everyone can afford to run away from the dilapidated nature of the country, the cost of permanently relocating to the UK cannot be afforded by 70% of Nigerians.
The only choice is to currently fix the country, but I have a premonition that if people make another call tomorrow, then it'll be difficult to liberate Nigeria forever, because of the inability of people to snap out of the charade of control.
Interested in some more of my works?
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It sounds like a crazy situation there and I hope things will improve. Most people everywhere are so naive to think that the elites and ruling classes care about them and prefer to live in ignorance to the truth.
It's such a crazy situation in Nigeria currency and hell have been seriously let loose. I think people are still living in the illusion that the current corruption ruling class cares about them.
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I hope that God will interven for us tomorrow in order to eradicate this heartless humans out of power
I hope so too, Nigeria has never been as bad as this before, even when I was young, it's never been this bad.
Guess this is ikorodu market?? This crazy situation has really affect everyone one way or the other. Imagine going out today and then getting to the pos to withdraw and there was no cash and I was told to pay 500 just for 1000, I was just speechless and I had to do a cashless policy to get to where I was going even tho that one self gave issues but it was fair.. I hope there will be a different very soon. Hope you are fine now?
Yeah, I was schooling at ikorodu sometimes two years back, so I did enjoy or explore taking pictures back there. So yes ikorodu market.
Paying 500 for 1000 is absolutely insane, I thought I had it worse. But then, I'm glad some people are now resorting to POS to run their business.
I'm doing better, thank you.
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Wao that's nice, I was thinking you were there today😃😃.. POS has been saving tho but I just hope they won't abuse using that in the long run also..
No, these pictures are virtually 3 years old lool, I revamped and reedited them again. Ikorodu garage was an adorable place, now the garage don't look as good as before
Ohh,wao! That's a good one. Yeah, you are right I guess it need more maintenance to make it look good as before.
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I'm sorry to hear about your struggles with accessing physical purchasing power during these difficult times. It's unfortunate that some people are being forced to reduce their food intake due to the limited accessibility of cash. It's a reminder that financial struggles can affect people in many different ways, and that the ability to access physical cash can sometimes be a matter of survival.
You make a good point about the irony of having money in the bank but not being able to convert it into physical cash when needed. While digital banking has made financial transactions more convenient, it's important to remember that the physical currency is still an essential tool for daily transactions in many parts of the world.
It's also true that scarcity can drive innovation and creativity, and many people have found innovative ways to cope with financial limitations. It's important to remain resilient and resourceful during difficult times, and to seek out support from friends, family members, and financial advisors whenever possible.
In the end, the ability to truly own your money is an important consideration, and it's important to have a plan in place to access physical cash when needed. While digital banking can provide convenience and flexibility, having access to physical currency is still an essential part of financial security.
At the end of the day, it's the ability for one to truly own their money that's the most imperative thing just like you've pointed out. Financial struggles can get to people in many ways, it's the unavailability of people's money that's the height of this madness.
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Glad to know you're back and your health is improved. You are right, we must not lose hope in the electoral system and the fact that, we need intelligent people who are capable to deliver to be elected into the positions of authority. Tomorrow is a day to decide in Nigeria where each and every Nigerian has a voice through our votes to bring a positive change.
As regards cash at hand, you can have money and not have cash. This is the sad situation we are in right now. There are speculations that cash would be available after the elections. We hope so. God help us as we help ourselves (Amen)!!!
I think the Monetary policies would elapse after the elections and probably the old notes can be accepted one more time again, but there's no guarantee, nothing is certain with Nigeria
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True, nothing is certain in Nigeria
I haven't had that much cash in the last 2 months. Just a few drops like 1k or 5h which come from someone needing a transfer or airtime and pays with cash.
Apart from that, I didn't have a lot of things to buy so the situation wasn't affecting me. What it did help was make my crypto last longer in my wallet since I did not need to spend it.
The only thing I have spent on had been paying off debt which meant I still didn't need cash. (Paying off my debt is a priority for me right now as compared to any other thing I would think I need)
I have been sick for two weeks too and I am grateful for the gift of people. They helped in one way or the other.
And if I ever needed to do a transfer I avoided my bank app like a plague because I was paying attention to all the difficulties other people faced and I took precautions. I used my palmpay app and if I felt I will need to do any sort of transfer... I'll move it from my bank app very early in the morning to my palmpay and I am good to go
Tomorrow, Nigeria will decide who the next president will be. I just hope we will make the right choice instead of following popular opinions. The majority most times are not always right.
Well your situation is not as bad then. On my end buying the right medication comes at a great cost, infact, it's the dilemma of being cashless that's landed me into this situation of being ill. The struggle here in Lagos is unbearable. Anyways, at least I'm thankful for your situation, there's no reason why all of us should have it bad.
I do believe that we might experience a breather when the elections are over.
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This is really serious and getting out of hand. Making cash scarce or not widely available to further their agendas is taking things to the extreme. I hope people don't fall for the mind games and do what's right.
In reality, the impact of these momentary policies are taking heavy tolls on people.
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This are the situations when I say "I cant say I know what you going through" because this are extreme conditions that nobody should and most people wont experience, not even during Covid lock down times I saw something like this where I live, the human brain will never stop to amaze me, each brain is an entire different universe, who would have though that governments during modern times could get to this point just to keep control, next year are elections in my country (not US) and the country will be force to choose between the best of the worst candidate because none are worth, hope soon or latter Nigeria become more crypto friendly so you bend the barrier of fiat.
I hope Nigeria can become crypto friendly as well because, if we keep voting the wrong people, there's no way that can happen, infact, they'll only tighten the grip on the ban and people would continue experiencing that same old limitations.
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An eye opening post on what's really happening on the ground. I feel like nothing much will change even with a new leader, it's still the same centralized system controlling the citizens through the currency. People need to get into bitcoin and cryptos that aren't state controlled/ managed. Fiat printed and managed by a few will fail badly.
Thank you for sharing and do enjoy the weekend and election shenanigans :}
It's a crazy situation on what's currently happening in Nigeria, I think that a revolution is what Nigeria needs. At the end of the day, we now have capable personnels that are contesting, we hope they can get in and contribute their own quota
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I heard the news about the new bill in Nigeria.
Hard to find and problems arises.
Hope a solution is on the making.
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It sounds pretty crazy but I think people just don't like change. They kind of lived their lives going according to those rules and I would say that making changes is for the better but they might not. The system requires confidence and it will collapse if people lost their confidence.
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Man. I'm virtually tired of this situation, of not being able to access physical cash. Could you imagine I was trying to come back home to my parents for the election break, but I was stuck. The drivers were not accepting bank transfers neither was I able to get cash. And when I eventually found one driver who was willing to accept the transfer, we were all asked to pay double the price of the T-fare.
Today happens to be the big day, where Nigerians decide/chooses Her leader. This country really needs liberation from all of these and I pray this election yields positive results for the people more especially the youths.