THE "TWO-COW EXPLANATION" OF WHAT MAKES...

A SOCIALIST:
You have two cows. The government takes one and gives it to your
neighbor.

A REPUBLICAN:
You have two cows. Your neighbor has none. So what?

A DEMOCRAT: You have two cows. Your neighbor has none. You feel
guilty for being successful. You vote people into office who tax your
cows, forcing you to sell one to raise money to pay the tax. The
people you voted for then take the tax money and buy a cow and give
it to your neighbor You feel righteous.

A COMMUNIST:
You have two cows. The government seizes both and provides you with
milk.

A FASCIST:
You have two cows. The government seizes both and sells you the milk.
You join the underground and start a campaign of sabotage. .....

AND
THE NIGERIAN GOVERNMENT: You have two cows, the government seizes
both, promises to provide you with milk but instead sells it to your
neighbors and allows you to starve!

Cashless Economy

Simply put, a cashless economy means an economy that is driven with the usage of electronic means of exchanging money instead of paper money or coins. The Central Bank of Nigeria has earmarked a full transformation of Nigeria to a cashless society by June of this year, 2012. To prepare for an effective creation of an economy devoid of cash, a trial run commenced in the economic capital of the country, Lagos, in January 2012. When fully implemented, the maximum cash withdrawal and lodgement by individual and corporate organisation will be pegged at N150,000 and N1,000,000 respectively. There would be a penalty on all transactions in excess of the maximum ceiling. Other means of transaction expected to take over from cash transactions are cheques, wire transfers, debit and credit cards, online transactions and mobile banking.

A cashless society will help in a large way to reduce or prevent cash-related crimes like drug trade, burglaries, kidnappings and terrorism. Cash is difficult to trace but in a cashless economy, every transaction can be traced. Also money counterfeiting will be eliminated since the circulation of paper money will be well reduced. This policy will also favour banks because, substantially, their costs will be reduced. Cash counting, storing and transportation will be reduced or eliminated, thereby cutting down overheads and making banking to be safer.
As it is now, there are works to be done before the policy becomes well grounded in Nigeria. There is at present a great mistrust by Nigerians based on the high rate on electronic crimes by some unscrupulous Nigerians. This makes most people to be discouraged from accepting cheques. A great percentage of the people even prefers keeping their money at home rather than patronise banks. A lot of sensitisation will have to be done to assure this set of people.

The banks are not really helping to make the people appreciate this policy, despite all their rhetoric. The duration of interbank money transfer is too long for an economy that is still crawling like ours. A cheque from a customer in bank A deposited into another account in bank B, most times take more than 24 hours for it to be cleared, which is just not good enough. Also the ATMs are mostly underutilised because of the banks’ inefficiency. ATM usage is imperative in order to make a cashless economy possible. Its usage must not only be encouraged but also made to be very effective. So many times one gets to the ATM machine and realise that there is either no sufficient fund in the machine or no internet service for it to operate. To encourage people to appreciate these machines, more machines will have to be deployed and the number of ATM downtime must be greatly reduced also.
A cashless economy, if properly planned and executed, will create a society that is convenient for all the people. Its evolution is absolutely unstoppable. It is convenient in the sense that you can move any amount of money from one bank to the other from the comfort of your home. With your phone you can pay for any product in the world without stepping into a banking hall. We hope this modern society will not elude the nation as a result of improper planning and administrative inefficiency.
For more information on this topic, you may visit http://olojooluwasegun.hubpages.com/hub/Why-the-proposed-cashless-economy-in-Nigeria-is-unrealistic

Demystifying fast cash payday loans

Fast cash payday loans are designed for swift and prompt authorization which is invariably accomplished within a day, devoid of many questions. It's a convenient strategy to be on top of a brief financial problem. The processing is completed quickly since it involves no collateral for its valuation and because the loan is given based on the idea that the applicant is an employee, lenders approve it within a short time.

The loans allows you to have cash which comes in handy to care for emergency bills till your next payday, when you repay the loan plus interest. Fast cash payday loans are available online, you can access and secure it from the comfort of your house. Often, within the exact day of your loan application, your account will be credited.

Since its evaluation and approval period is faster than that of conventional loan, many borrowers prefer it. It is more convenient and easy to access than the conventional or traditional type. It is accessible to anybody. Even people with imperfect or poor credit standing, arrears, defaults, bankruptcy, insolvency etc. are readily approved to access the loan without hassle.

However, there is a caveat to its use, you have to be diligent so that you don't amass lots of debts. Most time when you apply for the fund, you may get approved for more funds than you actually need. You may be tempted to access the full amount, however this isn't a superb idea. Also because of its ease of approval, you may be temted to overstretch your credit facility,this can lead to other problems later. You have to be sure you access just the actual amount that is enough at that time and you can afford to pay back. Resist the temptation of taking multiple loans consequently without servicing them... you have to be accountable and prudent when using the fast cash payday loans facility. One of the mistakes people often make when taking out this loan is that they get too relaxed about paying the back. This mistake is a very huge one to make. If you don't service or pay your loan on time, you will most likely build up or accumulate enormous fees and late charges. Additionally, you could possibly damage your credit or even be charged to the court of law. You can prevent all of these from happening by paying your loan back in full as at when due and also be prudent.

Before you decide on a suitable lender to choose, evaluate first their rates of interest and charges. Apply to your lender of choice and fillthe online form with your personal details. The fast cash payday loan approval will come, frequently, within a day of application. It is so easy and so convenient. All you have to do is be sure and certain about the lender to choose. So the next time you ever think: "I would like simple small fast money payday loans", and you fulfill basic conditions; you will know who to go to.