Akanoaaa:
Here is 17 years own.

chinnyonwu:


I have told you many times but you refuse to listen, he wonr pay 10m worth of cash to one BDC. He wjll spread it through little 10m payments to multiple c
Exchangers and with the help of his friends.

Also do you realise that there are so many unofficial forex exchangers? Even here on Nairaland? Have you ever gone to the buisness section?

What about local bitcoins dot com?

By the way, you started with 100m naira, did you catapult it to 7bn naira just to prove a point?

Finally i ask again, why is CBN doing this at this tjme our currency is still very unstable? Do you realise that even if a few scapegoats are caught, many billions of naira will still enter into the system uncaught?

Also, when the scapegoats are caught, what will be the outcome? What has been the outcome of poeple that EFCC have been pursuing and catching since 2015?

socialmediaman:


No! Possibly more than 95% of Nigeria's wealth are in the hands of 5% of the population.

jmichael259:


Just one church, nighclub, bank or casino go move 100s of millions directly for you in a week and there are thousands of such organisations across the country.

Na only the masses go dey run helter skelter on this matter.

aieromon:


https://www.thecable.ng/naira-redesign-efcc-moves-to-clamp-down-on-currency-hoarders/amp

https://www.thisdaylive.com/index.php/2022/10/26/citing-excessive-cash-hoarding-counterfeiting-prevailing-security-situation-cbn-to-release-redesigned-naira-notes/amp/

https://tribuneonlineng.com/cbn-cites-hoarding-counterfeiting-as-reasons-for-redesigning-naira/

Let me requote the CBN governor's words again. Please read and understand CBN's position. I have added more links for your reading consumption. Reading is fun.

Penguin2:


So the forex trader that changed 10billion naira to dollars for you, where would he keep the cash after he has taken it from you?

CheapHomes1:


So you mean that with all your reading, you can't answer simple questions?

1. How did you come about your definition?

Try this: I came about my definition by......

2. Did you get it from cbn? Simple yes or no.

With all your press briefings and YouTube videos, how is the statement below the definition of hoarding?

"If 2.7 trillion naira out of 3.2 trillion is outside the vaults of the commercial banks, that is currency hoarding."

jumper524:
Could this be as a result of the cbn plan to change currency or a mere coincidence?

Penguin2:
Lol

This is what we have been trying to tell some foolish and shortsighted idiots here that these corrupt politicians and kidnappers that have been hoarding naira will be forced to start throwing it around as they can’t deposit it in the bank and some fools are here arguing.

Tinubu, Atiku and co, who packed money to buy votes will be choked; together with their BATstards.

See as 2007 naira note fine.

Penguin2:
Lol

This is what we have been trying to tell some foolish and shortsighted idiots here that these corrupt politicians and kidnappers that have been hoarding naira will be forced to start throwing it around as they can’t deposit it in the bank and some fools are here arguing.

Tinubu, Atiku, Obi and co, who packed money to buy votes will be choked; together with their BATstards.

See as 2007 naira note fine.

Penguin2:


Of course, I was talking of you giving one BDC 100million naira once. How would he deposit?

Penguin2:


It’s a tricky one…

How would you wanna change 100million naira to dollar and you wanna pay in cash?

That Bureau De Change you are going to pay 100million cash to, how would he deposit it without running into trouble?

dettolgel:


If you are talking of billions I may agree with you a bit. But 100million come on. 2 million go to 50 different BDC or 5 million with 20 BDC. You can get it all done within 3 weeks.

tabaralph:


This is exactly what Buhari and idiagbon did in 1984 to those old politicians like Umar dikko and others, you will see the way new naira notes will flood the economy before Christmas

Frezhkid10:

Well..you will reason according to the level of information available to you..
There is a reason why BVN was formed..do you know that any transaction in the equivalent of &10,000 & above has a special file in efcc office??

Frezhkid10:

Well..you will reason according to the level of information available to you..
There is a reason why BVN was formed..do you know that any transaction in the equivalent of &10,000 & above has a special file in efcc office??

Ogunleti01:
And for the fact that not only one thief would be forced to bring out their loots. We have so many of them

kkash:
If US decides to redesign too.....all those stored up dollar wld surface asap

ken6488:
Suddenly every is an economi guru

Ubongikouwem:
Sure, what did you expect.

Buhari is the wisest politician ever.

Penguin2:
Lol

This is what we have been trying to tell some foolish and shortsighted idiots here that these corrupt politicians and kidnappers that have been hoarding naira will be forced to start throwing it around as they can’t deposit it in the bank and some fools are here arguing.

Tinubu, Atiku and co, who packed money to buy votes will be choked; together with their BATstards.

See as 2007 naira note fine.

dettolgel:


If you are talking of billions I may agree with you a bit. But 100million come on. 2 million go to 50 different BDC or 5 million with 20 BDC. You can get it all done within 3 weeks.

Penguin2:


It’s a tricky one…

How would you wanna change 100million naira to dollar and you wanna pay in cash?

That Bureau De Change you are going to pay 100million cash to, how would he deposit it without running into trouble?

endy69:

Come to Sharaton Abuja. Just 10% and i would give you my link no jokes

Penguin2:


Lol!

Don’t talk as if you are in kindergarten.

The average daily cash deposit by an individual is 5million naira. Anything above that is usually reported to EFCC.

Similarly, the average daily deposit by corporate businesses is 10million naira. Anything above that will be reported to the EFCC. Any bank that fails to do this is usually fined heavily which makes banks wanna comply.

Now, a bank sending a bullion van to bank naira from someone’s house is not the problem, the problem is that as the bullion van is on its way to your house, report is on its way to EFCC and NFIU. And you will have to go and explain to EFCC how you came about the huge cash.

Racoon:
If the currency is still durable, divisible, portable and accepted as a means of legal exchange, then there is nothing wrong with. A currency reformation is not what Nigeria needs in these era of economic meltdown as the cost implications is just too huge.

jumper524:
Could this be as a result of the cbn plan to change currency or a mere coincidence?

AstraDroid:
Still so clean?

Penguin2:


You are welcome, Pinky!

Hope you are good?

aieromon:


Sorry, this is enough spoon feeding for an adult. Yes and no is for primary school kids who have no reasoning skills and depend on a person of superior knowledge. I have treated you like an adult far enough. If you cannot read a direct quote from the CBN Governor and make an inference, the blame is not on me.

Over and out.

fxexperts:
Look at this worst. you all don't know anything.

Go and see what is happening to your naira at the forex market. you all don't know anything with regards to money and economy. i bet you before December the naira will exchange for N1000 to 1 dollar. You are right with one thing though everyone holding your worthless naira at the moment before the politicians, kidnappers and legitimate investor, due to this stupid move by your useless president and CBN governor, they will all be looking for ways to exchange it for dollars and as such the price of dollar will by skyrocketing as the demand keep increasing, basic law of economics. i don't know if Emefelife is daft or just plain dumb. i am sure i know economics far better than that idiot.

Leave those kids, they have never exchange money in their life before. they are still in their parents' houses.

Run into trouble for which country? They will deposit it and nothing will happen. nobody will do jack. they will even go to CBN direct to deposit it. Or you don't know that CBN sell dollar to some of these BDC operators. How do you think they pay CBN?

Live these children they don't know.
If they are serious and have money to exchange for dollar or know someone that has, let them hit me up. leave talks. At least I'd get decent %