We are the enablers of our suffering
Recently, I tried selling crypto on Bybit and I discovered that they have started charging a fee of between 500 - 1500 naira for the transactions… In practice, they deduct this fee from the total amount of money you are meant to receive. Some of them were trying to use format on me calling me boss and all .This is not only against the rules of the Bybit P2P market, it’s a testament to the fact that we can’t have good things in this country. Despite the fee being minuscule, I refuse to pay it because of my other experiences in this country and it’s behaviour I don’t want to embrace
If I want to buy something and I am required to add the 50 naira transaction fee, I just see it as the person not wanting to sell the product to me and I walk away buying nothing…
The other day I was trying to buy fish I was explaining to the woman that the 50 naira she charges as money withdrawal fees (POS) makes no sense…
- There is no light in Nigeria and she sells a perishable product
- Her stall is in front of a bank she could easily go in there open an account, get a card and withdraw her money every day for free
After showing her how senseless it is, she burst into laughter smiling because of her obvious profit and I was irritated. These are the same market women that go out to campaign for APC who in turn sabotage the country creating these intense conditions that they cry about…
In another scenario, the 50 naira that the CBN has directed banks to collect for transactions above 9,999 naira generates 35 billion dollars annually his is at the calculation of Nigerians having a population of 270 million people with and average of 5 transactions daily . If Nigerians had rallied to the bank’s demanding their money in cash I bet we wouldn’t be dealing with this extortion