News
How COVID-19 is Helping to Entrench Cashless Economy
By Joel Popoola
Nigeria is Africa’s largest economy, but we are pretty old-fashioned when it comes to money.
Although many Nigerians are used to receiving money electronically from relatives overseas, at home the vast majority of people prefer physical money to digital payments and would rather queue up at a kiosk for cash than pay for something using their phone.
It’s not smart. And in the time of COVID-19, it’s not safe.
By 2025, almost two-thirds of Nigerians will own a smartphone, but right now only 6% of us use digital technology to make financial transactions.
In Kenya, meanwhile, the number is 73%
Digital payments save businesses and consumers time and money: think of the time and effort it would save Nigerians in remote rural communities from not having to travel to go to the bank!
More importantly for digital democracy campaigners like me, electronic money is much easier to keep track of, increasing accountability and transparency and reducing corruption and theft.
So why don’t we work towards becoming the first nation on earth to abolish cash?
This might sound like a ludicrous dream, but in the time of the coronavirus, it might not be as far-fetched as you think.
Reducing the handling of cash to a simple way of slowing the spread of this and other viruses – and social distancing is almost impossible in a kiosk or bank queue.
And Nigerians are getting used to the idea of digital payments. During the COVID-19 lockdown, many Nigerians had no choice but to switch to digital banking when bank branches were closed. And they liked it. There were even reports of shops refusing to take money.
Making the change to a cashless Nigeria would require intensive effort, but the chances such a move could pay for itself. When Mexico made state worker salary payments, social welfare and pensions electronic, it saved the equivalent of 491 billion Naira.
Then, there is also the informal economy.
According to the IMF, the Nigerian informal sector accounted for 65% of Nigeria’s 2017 GDP. A move away from a cash-in-hand culture could lead to a very helpful increase in the government’s tax revenue.
Nigeria is already making more progress towards becoming a cashless society than you might think.
The COVID-19 crisis also saw the government utilise digital-payment platforms to distribute financial support for those affected by the lockdown.
This followed on from earlier efforts to establish payment service banks, which see telecom companies permitted to provide financial services.
Other government targets could be achieved too. The payment service banks were one of the initiatives aimed at meeting targets set in 2012, for 80% of Nigerian adults to have a bank account by 2020. These ambitious targets have been missed (the figure is currently around 60%) but a 2015 report prepared for the G20, the world’s largest 20 economies, highlighted the potential of digitised payments to rapidly increase access to financial services.
The journey towards a cashless Nigeria would require significant government commitment and investment. But the government could start tomorrow by aiming to making all government payments, such as Conditional Cash Transfer, digital by default.
And doing so would be hugely beneficial for our democracy.
Physical cash is dirty money in more ways than one indeed.
Transparency and accountability are almost impossible to achieve with cash payments which are anonymous and untraceable. And this has huge implications when it comes to making sure public money is spent were it is supposed to be spent.
When the Indian government started making pension payments through digitally instead of using cash bribe demands almost halved. I’m sure almost every Nigerian would dearly love to see that here.
At the digital democracy campaign we are determined to improve accountability and transparency in Nigerian politics.
We have created a free app called Rate Your Leader, which allows voters to contact directly with their local elected representatives. The Rate Your Leader app helps politicians engage directly with people who elected them, helping them understand what matters most to the people who elect them, get important information directly to them and build relationships of trust with the electorate.
We did this because in 2020, democracy is digital. Communication is digital. Commerce is digital.
Our money should be digital too – not least in the interests of public health.
Far from being a fantasy, perhaps a cashless Nigeria is an idea whose time has arrived.
Joel Popoola is a Nigerian technology entrepreneur, digital democracy campaigner and is the creator of the Rate Your Leader app. He can be reached via @JOPopoola
By Henry Ukazu
Dear Destiny Friends,
Happiness is something everyone should strive for. The pleasure and joy that comes with a blissful mind is priceless and unimaginable. There are certain things that keeps the mind in a state of perpetual happiness, and they varies. To some, it entails having money, children, education, job, and fulfilling a vision, while to others, it means singing, getting married to a dream partner, traveling, cooking, among others. The list is endless. And if I may ask, what makes you happy?
Personally, I derive joy when I put smiles on people’s faces. I can confidently say, I can be too kind to a fault. Sometimes, when I have a heavy heart, to decongest my sad state of mind, I may decide to be a blessing to someone who is experiencing misfortune. This act makes me feel happy and whenever I complete the act, I do feel a sense of fulfillment like a heavy burden has left my body. Isn’t it true therefore, that one gets what they want faster when they assist other people to get what they desire.
Being happy is indeed a state of mind. Sometimes, we think other people can make us happy. Sometimes we tend to attach our happiness to our partners and friends instead of ourselves. There’s no doubt the people in our lives have a role to play in making us happy, but the big factor responsible for our happiness is our mindset and perspective to life.
Let me share a practical example. One day, while I was in college, I was having a decent conversation with a friend of mine, and he said to me, ‘Henry, have you ever thought of having a girlfriend’? He touted me saying, you know you are one of the handsome guys in college and ladies love you so much. I was curious to know why he asked such a question so I asked, why do I need a girlfriend? He said they will make me happy. I said, that’s interesting to know. I asked him, so are you telling me, the simple reason you are happy is because you have a girlfriend? He said not really. I said to him, happiness is an inside job. As a matter of fact, I showed him a book by John Powell titled, Happiness is an inside job, which I was reading at the said time.
I further told him that ladies don’t make men happy, rather they complement their happiness, and vice versa. The mistake most people make is focusing their joy on human beings, and when they are disappointed, they begin to lament. True happiness should be vested in causes not material things. Material things are important, no doubt, but they are not as important as causes, especially as it relates to happiness.
Did you know that there’s a spiritual connection between happiness and success? Yes, this is so true because when one is happy, there’s a certain level of joy, satisfaction and energy that comes to them. The energy makes them passionate about a cause, and when one is passionate about a cause, they will be consistent in pushing the brand which will ultimately attract opportunities.
The importance of happiness cannot be overemphasized. When one is genuinely happy, he will not be stressed while working. That explains why it’s always good to love the job you do, and when you love what you do, what you do will ultimately love you, and this will attract opportunities.
Overtime, I have seen that people, who love what they do produce a certain level of results more than those who just do the job they are paid to do. Experience has shown that when people are adequately compensated for the work they do, they tend to do it with joy and when a work is done with a job, the result tends to be different.
Whenever I need a certain level of work, I always look for those who are gifted and talented in that craft before I explore the option of those who are intelligent and skillful. This is because someone who is talented or gifted in a particular craft has a form of blessings or anointing, which can produce a glowing effect on the work. I call such effects the spirituality of success because it has more impact than anyone who has acquired the skill or studied the art in school, or from a form of training.
The question we need to ask is how can one attract opportunities? The first step in attracting opportunities is by being happy. Nobody likes to be associated with an angry mind. There’ a rule of thumb that says, when you smile at someone, they are bound to smile back even if they are into witchcraft. Nobody likes to give a job to an angry person.
The connectivity of happiness and success was aptly captured by Dr. Yomi Garnett. According to him, “Those who attain true success are those who derive joy and happiness as they invest their time and energy in worthwhile pursuits. This is hardly surprising, for true success is not merely a destination, but a journey. If a journey is truly worthwhile, should it not also be pleasurable”?
How true can this statement be? True joy comes when one’s passion, vocation and profession are in alignment. Imagine the joy and fun that one will get when getting paid for having fun. The feeling and experience are, indeed, priceless.
It’s unfortunate that many people don’t understand that there’s a spiritual effect in whatever one does. For example, someone who is called to be a lawyer will do an expectational job as a lawyer, he won’t struggle to read, comprehend or even attract favour from clients, judges and fellow attorneys. In fact, the universe will conspire to work for him because he will attract opportunities due to the happiness he invests in himself. Now contrast that with someone who studied law just because he likes the name or because his parents influenced him to become a lawyer. The same principle is applicable to other professions, vocations and skill related jobs.
In conclusion, if you want to attract opportunities and blessings into your life, consider being happy, don’t attach your happiness to anyone, rather focus on a noble cause which will bring joy and impact in the lives of people. When you do so, you will subconsciously attract blessings into your life.
Henry Ukazu writes from New York. He works with the New York City Department of Correction as the Legal Coordinator. He’s the founder of Gloemi. He’s a Transformative Human Capacity and Mindset coach. He is also a public speaker, youth advocate, creative writer and author of Design Your Destiny Design Your and Unleash Your Destiny . He can be reached via info@gloemi.com
The Lagos State Commissioner of Police, Moshood Jimoh, has explained why security details attached to the Speaker of the Lagos State House of Assembly, Mojisola Meranda, were withdrawn, noting that the aides have since been restored.
The Lagos Police boss, while confirming the withdrawal of four policemen attached to Meranda, blamed the withdrawal on the audit of all policemen attached to VIPs in the state.
He also claimed that it was not Meranda’s security aides who were withdrawn and that those of other VIPs were also withdrawn during the audit.
CP Jimoh also insisted that the audit is not peculiar to the Lagos State Police Command, adding that it also happened in other states of the country.
He said, “Lagos with a population of about 20 million persons have 18,000 police personnel. This is grossly inadequate for a state like Lagos which is centre of excellence.
“The audit will help us to know those on illegal duty, those who are where they are not supposed to be. Once the audit is completed, we start to reassign them to Divisions and Post to help in policing the state effectively.”
Continuing, the CP added that the audit is a statutory laid-down procedure of the police, which is not limited to the state command alone.
“Periodic audit of police personnel attached to eminent personalities and groups is a police statutory laid down procedure which is not limited to Lagos State Police Command alone, this is to ensure that the police personnel are accounted for including their firearms and other police crime fighting equipment in their possession.
“To further ensure that they are on their duty posts and the firearms and equipment under their custody is not misused. As we speak, other police state commands in the Country are carrying out similar audits of Police personnel hitch-free and without any problem.
“The exercise will equally avail the Command the opportunity to discover where police personnel are posted without approval and or those that are on illegal duties and unapproved duty posts, so that we can withdraw those on unapproved duty posts, those with invalid approval and those on illegal duty and redeploy them to Police Posts, Stations, Divisions and Area Commands to provide security and safety for all Lagosians.
“It is important to underscore the facts that Lagos State, the Centre of Excellence with more than Twenty million population but with a strength of police personnel of less than 18,000 in total need more personnel to be at the police posts, police stations, divisions for the safety and adequate protection of lives and property of everyone in Lagos State.
“The ongoing police personnel audit in the Lagos State Command is done in absolutely public interest and not with any other considerations, except for the safety of all in the State. As I speak with you, the audit of the police personnel attached to Hon. Mojisola Meranda has been completed and the four armed personnel attached to her from the Lagos State Police Command have been returned back to her for her protection.
“It is pertinent to also state that the ongoing police personnel audit has been on for several days now and prominent personalities and individuals have been complying with the process. The exercise once again is not aimed or targeted at any individual,” the CP added.
“However, for those whose police personnel are still undergoing the audit process with the Command, the outcome of the audit will enable the next line of action to be taken. Let me sound a note of warning that prominent persons/individuals without valid approval, Police deployment to them will be withdrawn throughout the State.
“The Special Protection Units Department at the Force Headquarters have been mandated to provide security coverage for every Nigerian needing police protection in the country, and will henceforth provide deployment of police personnel for guard duties and personnel protection, will be centrally done throughout the country at the Force Headquarters,” the Lagos CP added.
Security aides attached to the Speaker of the Lagos State House of Assembly, Hon Mojisola Meranda, has allegedly been withdrawn while it was also alleged that the security aides of the embattled and impeached Speaker, Hon Mudashiru Obasa, has been restored.
The move, according to source, is part of the pressure being mounted on Meranda to resign her speakership position.
A reports by The Punch onThursday said security details attached to the speaker including police officers have been withdrawn.
On online platform, The Whistler, reported seeing videos of Meranda going into the assembly for official assignment without any of her security aides, except civilian aides.
The paper added that the identity of whoever authorised the withdrawn is still unknown just as a source close to the Speaker confirmed the development.
“The source told the paper, ‘All the Speaker’s security aides have been withdrawn. All the security aides attached to the House of Assembly have also been withdrawn.’
The paper further noted as follows:
The source further lamented that, “the speaker is now vulnerable.”
The removal of Meranda may not be unconnected to the move by a mediating team including Chief Bisi Akande and Aremo Olusegun Osoba, former governors of Osun and Ogun states respectively to ease the embattled speaker out of office and restore normalcy in the assembly which is sharply divided over the influence of the state governor, Babajide Sanwo-Olu and President Bola Tinubu.
The meditating panel reportedly met last Sunday with key stakeholders at the House including members of the Governance Advisory Council at the Governor’s Lodge in Marina in their bid to resolve the political impasse.
Various reports from the meeting said the panel recommended the resignation of Mudashiru Obasa and that Meranda should also step down for a new lawmaker from Lagos West to take the mantle of the House leadership.
Meanwhile, the Obasa camp confirmed that all his aides have now been restored.
“They have restored all Obasa’s security aides as of this morning,” the source said.
