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Nairaland Forum / Nairaland / General / Politics / CBN Introduction Of New Note To Fight Corruption (1433 Views)
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CBN Introduction Of New Note To Fight Corruption by geunik(m): 6:08pm On Oct 26, 2022 |
Just some few minutes ago, I read that the CBN is about to introduce new currency notes. https://www.nairaland.com/7402800/old-currencies-expire-31-01 That is not the issue. It is the reaction of Nigeria's to the issue. To many, it is a waste of time and resources. That shows that many people don't know the importance of changing currency design. Even in USA, it is a normal thing. Changing of currency is one of the most effective methods of fighting corruption. Many politicians that steal public funds don't put them in bank. They stack them up in private location like pit latrine, tanks, their rooms, safe etc. They pick few bundles from there everytime they need little cash to spend.. The introduction of new currency will forces these thieves to the bank to change these currency. That will pose a risk to them as they will be in the eyes of the law. Imagine the 1000 naira note has never been changed since ages now. Most politicians that stole 1000 notes can still spend them today. But they may go to BDC to change these money to foreign currency. That is why the BDC are technically the problem of this country. Why allow individual to carry foreign currency in your country? 3 Likes |
Re: CBN Introduction Of New Note To Fight Corruption by minks(m): 6:14pm On Oct 26, 2022 |
Whatever happens, this government has not really lived up to it's promise of fighting corruption. There is more corruption now than any other time in our history as a nation. |
Re: CBN Introduction Of New Note To Fight Corruption by longetivity(m): 6:17pm On Oct 26, 2022 |
Fight corruption? when the real corruptions are wining and dinning in Aso villa. |
Re: CBN Introduction Of New Note To Fight Corruption by Arda1000(m): 6:26pm On Oct 26, 2022 |
This olodon eh… So what stops those politicians from stacking up the new currencies too? 1 Like |
Re: CBN Introduction Of New Note To Fight Corruption by socialmediaman: 6:30pm On Oct 26, 2022 |
geunik: This was the method used in the early 80s, what they do now is buy US dollars with stolen funds, or launder them through their companies With what you just wrote here, I can see why politicians are getting away with whatever they do 4 Likes |
Re: CBN Introduction Of New Note To Fight Corruption by baralatie(m): 6:40pm On Oct 26, 2022 |
Arda1000:That is why I was laughing when emiefele gave the reason! I was like Has he forgotten that Nigerian has changed currencies like how many times . And he wants it by December o |
Re: CBN Introduction Of New Note To Fight Corruption by aieromon(m): 7:21pm On Oct 26, 2022 |
baralatie: How many times? The timeline is 31 Jan 2023. 1 Like |
Re: CBN Introduction Of New Note To Fight Corruption by geunik(m): 8:22pm On Oct 26, 2022 |
Arda1000:You just showed that your education is waste. How can they stack the new currency without going to the bank? |
Re: CBN Introduction Of New Note To Fight Corruption by fineboynl(m): 8:50pm On Oct 26, 2022 |
geunik:will the money not be in circulation? Only a fool will stashed naira Something they do with dollars , pounds and euro. |
Re: CBN Introduction Of New Note To Fight Corruption by fineboynl(m): 8:52pm On Oct 26, 2022 |
The cbn has lost directions. First they said it’s bitcoin. Later abokifx. Now is redesigning of the notes |
Re: CBN Introduction Of New Note To Fight Corruption by Arda1000(m): 9:05pm On Oct 26, 2022 |
geunik:so tell me if you are a politician, and u have 20billion of old naira u won’t know how to go about spending it? 1 Like |
Re: CBN Introduction Of New Note To Fight Corruption by Truvelisback(m): 9:40pm On Oct 26, 2022 |
Arda1000:No mind am joor! As if i invest the money in a business or build houses they know. |
Re: CBN Introduction Of New Note To Fight Corruption by geunik(m): 10:47pm On Oct 26, 2022 |
fineboynl:That was why I said BDC are thee problem. They changed the stolen fund at aboki |
Re: CBN Introduction Of New Note To Fight Corruption by geunik(m): 7:23am On Oct 27, 2022 |
Arda1000:Most politicians want to save money for their children after investing and buying business and landed properties. They cannot keep buying until yhe money is finished. They want to save. And since they can't save it in naira, they buy foreign currency from BDC because the current naira design will change soon. It is this currency they save with in hard currency. Dollars will rise to 1k soon before January with what CBN is about to do. They have to make it illegal to hold physical foreign currency in Nigeria |
Re: CBN Introduction Of New Note To Fight Corruption by Arda1000(m): 7:32am On Oct 27, 2022 |
geunik:someone should tag CBN on these comments lol 1 Like |
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