Chanchit:


You should have collected the tattered one, they are now legal tender. Even traders that reject money now collects battered #100 whole heartedly.

Well,it depends on the area....am schooling in a local environment where those market woman rejects money anyhow

Time will tell

This country is really Shithole...... Buhari want to talk about d youth he went to London & Emefele want to talk about Naira mutilation he travels to Washington DC..... They are not exporting anything good about d country only bad bad things. Must they speak their trash from aside d shore of this country. Is America president exporting their shame to Italy or other European country?

Let them just start with 100 naira notes please. Basically 75% of them are in critical conditions

As for my bros calling for scrapping 1,000 notes; it changes nothing. It's just a denomination. The problem is with the value of the currency itself.

Obito555:
1000 naira shd be scrap too, highest denomination shd be 200 and u will a positive change in the country

You have a point but with this kind of government i doubt it. Also the dollar should come down to 80 like Ghana

gonkin:


You have a point but with this kind of government i doubt it. Also the dollar should come down to 80 like Ghana

Perhaps there is something I'm missing. But if the naira is devalued; say, two zeroes are removed, one may begin to buy the dollar for N3.60..and the minimum wage will become N180

How does this make $1 to N1 that this confused government promised us?

Is the mutilation the problem? Is it not something that has value that one respects

but why charging the bank for returning the bad money, even when CBN are the ones printing the money. buhari policy is the worst in Africa.

Funky123:
Cbn needs to do something abt #100 notes.......The ones outside have been operated in General hospital.....I waited so long to collect #100 yesterday as a change cos all the ones the woman has are so dirty and tattered

Lol

Earthbound:
Since nothing has been done about the 100 Naira notes in circulation up till now, I have lost faith in the CBN.


Abeg when last you see mint 100 Naira notes?

I got one this morning

90% of #100 note in circulation look like when our presido was sick

Meaning he doesn't spend the polymer note abi. KONTINU

Nwaforj44:
The Central Bank of Nigeria (CBN) has said that it is working with market associations and other stakeholders to enhance the circulation of new naira notes.

The move, according to the central bank, was part of efforts to ensure that the high incidence of dirty naira notes and currency mutilation in the economy was addressed.


CBN Governor, Mr. Godwin Emefiele disclosed this in an interview with journalists in Washington DC.
He assured Nigerians that the central bank would continue to print new notes as well as address concerns about defacing of the nation’s currency.

“We would keep printing new notes. I do know that new notes are being printed.
“Our Director of Currency, the banks and market associations are working together to ensure that those currencies are delivered directly into the markets so that people feel what we are doing,” he added.

Following concerns of rising incidence of mutilated currencies in the economy, the CBN had reduced the amount of money it charges banks for sorting mutilated naira notes from clean ones to N1,000 per box from N12,000 per box. The reduction was however, limited to lower denomination naira notes, or polymer notes, namely N50, N20 and N10 notes.

Also, the reduction to N1, 000 per box which became effective in January, and lasted for three months.
[b]Apart from the clear health risk dirty notes pose to the people who use them[/b],[/b] the country’s national pride is greatly undermined in the eyes of the world.

Studies have also shown that dirty money poses serious health hazard to those who handle it as trillions of such currencies in circulation are full of disgusting germs.
For instance, a study in the Journal of the American Medical Association studied bacteria from coins and notes found potentially harmful germs like fecal bacteria, E. coli and Staphylococcus aureus on 13 per cent of coins and 42 percent of notes.

A separate study by an Irish researcher at the Cork Institute of Technology (CIT), Emma Gabriel that also tested banknotes for Staphylococcus Bacteria showed that 97 per cent of the sample notes tested positive for the presence of potentially dangerous bacteria on their surface. This may be even higher with the dirty and awful smell from most dirty naira.

“The five notes which tested negative were in mint condition, and the older the currency was, the more contaminated it was. The coins were less contaminated because they are made from bacteria-static metals,” the study revealed.

Furthermore, the study showed that dirty money could specifically pose a risk to immuno-suppressed people — people whose defence against bacteria are already low.
According to Wiki, “Currency changes hands constantly” and one never knows where the money in ones’ possession has been, particularly banknotes, which has the tendency to build up grime and may be loaded with bacteria. Notes collect dirt and discoloration from the germs that rub off people’s hands.

Of course, not minding how careful one is, our own local unit- naira- can easily be put to unfit condition.
Based on the arrangement, banks are expected to return mutilated currency to the CBN for clean naira notes.
Hence, they are expected to sort mutilated naira notes from clean ones, before taking the mutilated notes to the CBN for replacement with new ones.

However, to avoid the cost of machines and process for sorting the naira notes, they return the notes unsorted to the CBN.
The Acting Director, Corporate Communications, CBN, Okoroafor had said: “We have enough new ones to issue to them. Our problem is that banks have not been returning these notes because of the fear of sorting that we would charge them.”

http://www.akelicious.net/2018/04/cbn-seeks-end-to-naira-mutilation.html

Please CBN so do increase sensitisation of the module of use of currency and care handling of NOTES to Nigerians. The same people will see dollar and keep it neatly safe but if you give a N500 note to Nigerian they will sqeeze it to know if it's fake!

please do something. CBN staff should stop printing fake Note, those doing illegal business. EFCC and ICPC is coming for you. we know what you are doing. if you like take it or not. IS JUST FOR MY LOVE FOR THE COUNTRY, I WOULD HAVE KEPT QUIET OOOH.

must we fall in every thing?


Do you now want to kill every body with these bacterials before you change the notes? what kind of country is this. Everything is just bad!!!!

I noticed most banks now dispense new N500 notes.

CBN should instead of wasting money on new notes, seek for ways to re-enforce the use of cashless payments like USSD etc

hmmmm

good