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Nairaland Forum / Nairaland / General / Business / Banks Deliberately Flood Market With Dirty Naira Notes—cbn (25417 Views)
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Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by kingandamy4life(m): 5:03pm On Jan 10, 2018 |
This country is in deep sheet. No sector is even working optimally Cbn again...after the illegal recruitment, you people are still telling this unofficial lies. its well ohhhhh |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Horus(m): 5:04pm On Jan 10, 2018 |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Nobody: 5:04pm On Jan 10, 2018 |
Which of the ‘banks’? Lloyd Banks? Azealia Banks? Reekado Banks? 1 Like |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by nonut: 5:07pm On Jan 10, 2018 |
Sirheny007:CBN charges them because the thieves we call banks sell this notes when they're given a new one for free. They request for new notes and it ends up in the hands of those women who sell money in occasions. CBN started charging to minimise their robbery. 2 Likes |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by nonut: 5:09pm On Jan 10, 2018 |
Sirheny007:CBN charges them because the thieves we call banks sell this notes when they're given a new one for free. They request for new notes and it ends up in the hands of those women who sell money in occasions. That sorting excuse na hogwash. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Simpledude0847(m): 5:10pm On Jan 10, 2018 |
dipoolowoo:If CBN cannot talk to them is it we Nigerians they will listen to? The same banks that have refused to stop the outrageous monthly deductions from accounts despite the apex bank's directive. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Abbeyme: 5:12pm On Jan 10, 2018 |
jidemoh: I agree. Customers are paying already extra in the name of 'STAMP DUTY CHARGE', which debit N50.00 for every customer-induced deposit you receive into your bank account (except salaries). Why putting burden of cash sorting on the commercial banks tho. I don gerrit. Even if banks do the sorting, they ought be reimbursed cos I believe that should be a shared cost. 2 Likes |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Sirheny007(m): 5:16pm On Jan 10, 2018 |
nonut: It is still a very poor approach to tackle the matter. Are we short of economists who can come up with a better solution than charging commercial banks money for money. It just doesn't make sense. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by onyxo76(m): 5:18pm On Jan 10, 2018 |
500 and 1000 notes ,torn on the sides .rough ,dirty etc . And when you withdraw from the ATM and get this notes ,you take into the bank for changing ,they will start making trouble for you denying that its their bank, where did I get the torn notes from if not the ATM? |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by fairprince(m): 5:19pm On Jan 10, 2018 |
Sirheny007: Thank you. The N12k charge is not based on the denomination oooo. If u like fill the box with coins or N10 or N500 or N1k: same charge. And the DMBS cannot pass this cost to the customers. In order to avoid wahala, they simply stop sending them to CBN. CBN told us they are also working on tight budgets too and advised everyone to adopt e-banking for transactions which is cheaper. Besides, the machines at CBN 'crushes' these notes and thus record them as shortages for banks. No argument. You just have to pay for the shortages for peace to reign. Cheers. 2 Likes |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by nonut: 5:20pm On Jan 10, 2018 |
Sirheny007:We ain't short of nothing. Apc government has refused to put anyone with a good head on their shoulders to manage. It's like they deliberately want to fail. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by nonut: 5:24pm On Jan 10, 2018 |
I also blame the foolish lawmakers who banned spraying of cash in occasions and then nullified it later, because of their own selfish agenda. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by grandstar(m): 5:34pm On Jan 10, 2018 |
The lower denomination notes should be changed to coins. Also, higher denomination notes such as N2,000 and 5,000 notes are needed. Only problem is that Nigerians no go gree. Sanusi tried to introduce such notes but there was an uproar. I don'y understand why an instiyution such as the CBN with some autonomous status allow itself to be trampled upon by the citizenry. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Nobody: 5:50pm On Jan 10, 2018 |
Politicians and cbn officials don't handle lower denominations of naira that is why they are less concern.They handle in dollar MasterCards most.But babe,you mean your guy never give you new note since una dey date each other? Rhemy2013: |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Juliette05(f): 5:51pm On Jan 10, 2018 |
progress69:tell them please, reading comments eh! |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Juliette05(f): 5:53pm On Jan 10, 2018 |
Wiseandtrue:it's the duty of the banks to sort their cash |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Sirheny007(m): 5:57pm On Jan 10, 2018 |
nonut: Couldn't have been better said. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by darqly(m): 6:06pm On Jan 10, 2018 |
Abbeyme: Just ignore the useless organization there. As if the banks are running a charity. You want a bank to mop up dirty notes, then you charge them before you accept to process them! That's not even the worst part, CBN will penalize the banks if there's a shortage in ANY of the boxes, often a percentage. And the same useless CBN will keep those boxes till it's time for withdrawals and give DMBs the SAME currencies only with CBN markings and sealed in polythylene, as if that automatically renews them. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Zaen: 6:29pm On Jan 10, 2018 |
This is so true, especially #100 notes very dirty ń tattered. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Abbeyme: 6:31pm On Jan 10, 2018 |
darqly: Hmmm. So much for so less! |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Alphasoar(m): 6:34pm On Jan 10, 2018 |
Nigerian politicians at work. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by iykezy02(m): 6:49pm On Jan 10, 2018 |
1 Like |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Rhemy2013(f): 6:50pm On Jan 10, 2018 |
comshots: No he hasn't Shey u will dash me new note then. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Yankee101: 7:20pm On Jan 10, 2018 |
dipoolowoo: You charge them 12k for a box of 1m in N100 bills. That's 1.2% for every old 100 bill they change. That's too much off the top cost. They have to contend with fuel, office space, bullion transport, salaries, kickback to government officials, minimum reserves, TETFUND, AMCON, other funds, corporate tax, PAYEE, retirement benefits, VAT, WHT....The CBN generally has too many charges hauled at banks, not knowing these fees are passed on directly to customers in the form of outrageous fees. I don't know of which developed economy charges for Debit card fees. Etc That's why the cost of funds is as high as 20 to 30% for business people seeking loans or a simple civil servant seeking an overdraft. This stymie Nigeria's development, not just corruption. 1 Like |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Wiseandtrue(f): 7:30pm On Jan 10, 2018 |
Juliette05:okay 1 Like |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by APL33: 7:52pm On Jan 10, 2018 |
Abbeyme: Its free of charge, if the banks sort the notes out, b4 sending it to them. U don't expect the CBN to assume commercial bans responsibility for free. MOREOVER when the apex bank gave them new note, it was sorted. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by ewizard1: 8:40pm On Jan 10, 2018 |
Abbeyme:They charged for SORTING!!! The bank is to separate the mutilated notes but they didn't. They are supposed to employ someone to do it, they wouldn't, then they should pay for the sorting service. 1 Like |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by slimbowwow(m): 8:55pm On Jan 10, 2018 |
alphaconde:If you truly work with a bank to the level of going to CBN as the bank agent. You would have less time to reply. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Joejoe12(m): 9:02pm On Jan 10, 2018 |
ketle called pot black, cbn the most useless institution selling mint/new note to the black marketers. And cant manage commercial banks well |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by Ejanla07: 9:33pm On Jan 10, 2018 |
alphaconde: the commercial banks hoard the new notes and sell it to people who sell it at occasions... they sell a wrap of 20000 for 23000 |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by capacino(m): 9:36pm On Jan 10, 2018 |
Bullshit! The nair note is so dirty and like a sack cloth. The people, CBN and the commercial banks are all to be blamed. Imagine how market women, conductors and Petrol station attendant handle money, 9ja with their blame games all the time. |
Re: Banks Deliberately Flood Market With Dirty Naira Notes—cbn by ecolime(m): 9:46pm On Jan 10, 2018 |
Ejanla07:Stop saying rubbish. |
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