Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,158,175 members, 7,835,921 topics. Date: Tuesday, 21 May 2024 at 05:33 PM

New Naira Note Scarcity Is False; I Withdrew Mine Yesterday - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / New Naira Note Scarcity Is False; I Withdrew Mine Yesterday (35398 Views)

See The 20k I Withdrew From A POS Today / New Note Scarcity: ATM Queues Increase In Abeokuta (Pictures) / Aliko Dangote: I Withdrew $10m Just To Look At It (2) (3) (4)

(1) (2) (3) (4) (5) (6) (Reply) (Go Down)

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by StrongAlphMale: 10:38am On Jan 27, 2023
BossGerald:


You're the kid here, maybe in Adult body...what happened to online transfer??

Seems something is wrong with you.

That you're lucky to have withdrawn the new notes doesn't mean it's not scarces.

Oga Onitsha isn't the whole of Nigeria. You know how many States dey Nigeria? And most people in these states haven't even see the new note. You better learn to shut up and start concluding things out of excitement

3 Likes 1 Share

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by ibinaboonline: 10:40am On Jan 27, 2023
You don't know what you're talking about. If you really think the masses have withdrawn enough to hoard at home, you're mistaken. New notes that people have been talking about how scarce they were from day one. Where did people find it to withdraw in the first place?
Winneygirl:
The new notes are meant to be spent.
A lot of people withdraw it to hoard at home.
Once the deadline for old notes mop-up is past, people will bring out the money they have hoarded.
Once business people stop collecting old notes, people will start spending what they have.
These monies will then be deposited in the banks, who will in turn load them on the machines.

Money is all about circulation. Not hoarding. There can never be enough cash to serve everyone, everytime.
It is the same money that is deposited another person will withdraw. Right now, people are just withdrawing it, and not spending.
I bet by wednesday all these unavailability of cash will cease.

3 Likes

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by ibinaboonline: 10:41am On Jan 27, 2023
You need help.
Lekan239:
I have been withdrawing the new naira note from uba ATM since Two weeks ago. Only the people from the East are complaining. It's their birth right to always complain. Funny enough non of their past and present governor have outshine governor from the other geo political in terms of infrastructure and general well being. Yet they claim only them could make Nigeria better if they rule
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by BossGerald: 10:44am On Jan 27, 2023
Bishop1monte:


Will you transfer for okada man and bus conductor

In that case you use #100 and #50 notes
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Winneygirl(f): 10:52am On Jan 27, 2023
BossGerald:


Don't worry, after January 31st those hoarding the new currency will have no other option than to transact it.

The new note printed is more than enough, you'll see magic happen after the CBN deadline

Thanks. You just voiced what I've been trying to say.
People are withdrawing it, and keeping it instead of spending it. They will soon have no choice but to spend it after 31st.

2 Likes 1 Share

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Charlie2020(f): 10:56am On Jan 27, 2023
500 Naira notes from ATM? But CBN said only 200 Naira notes should be loaded

1 Like 1 Share

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by olajizz01(m): 10:56am On Jan 27, 2023
Prayfortheworld:

I withdraw on Saturday too alot of banks are paying it but it's still scarce and once the load and the money finishes they won't load again
You were just lucky stop sounding like you know it all this is Nigeria
Exactly, I too know is worrying some people,l have been trying to withdraaw from first bank ATM in my vicinity since Tuesday,no show. Their official told us frankly that there was no new note in the bank and order had been given not to load old note.
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by onyxo76(m): 10:58am On Jan 27, 2023
BossGerald:


I can only tell you to go to the nearest ATM and withdraw your new currency...

31st is fast approaching
maybe at your end sha cos here for Osun state na war, most atm are not dispensing, the one working dispensed for 2 people 20k max each and stopped working after, I've been looking for cash since Monday, even my regular pos guy no see give me pass 2k yesterday and na old notes sef.

2 Likes

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by BossGerald: 11:09am On Jan 27, 2023
onyxo76:
maybe at your end sha cos here for Osun state na war, most atm are not dispensing, the one working dispensed for 2 people 20k max each and stopped working after, I've been looking for cash since Monday, even my regular pos guy no see give me pass 2k yesterday and na old notes sef.

Don't worry my guy, people have withdrawn and hoarded it since last year, when the deadline comes...they'll have no other option than to bring it out and transact.

You'll see the magic soon
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by kay29000(m): 11:23am On Jan 27, 2023
Bintdawood:



Choii. I only saw the new 500 naira note once. Its like 1k is more in circulation than the rest abi?
May God help us amin!

Yes, 1k is the most circulated of the new notes. I like the 500 note the most.

2 Likes

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by blowjohn(m): 11:27am On Jan 27, 2023
BossGerald:

Reporting live From Onitsha, Anambra state.

Union bank, UBA, FIRST Bank ATM etc are dispensing the new naira note.

Stop believing the lies and rumors that flies daily concerning the new naira notes.

Deposit your old naira notes with the bank or POS(point of sales) agent.

Go and visit any ATM stand near you and make your withdrawal.

You only have 4days to change you old currency.


From @Bossgerald



Ur submission doesn't hold water.

Over here in abuja it's a war.

3 Likes 1 Share

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by BennyDGreat: 11:31am On Jan 27, 2023
Robertgreene1:
Interesting....
But all these peeps thinking dt d likes of Tinubu nd Atiku won't av enough new notes 2 buy votes must be dumb... like really dumb
Do u peeps even stop 4 a minute 2 think of d timber nd caliber of men dat work 4 these presidential candidates...saying dt Tinubu won't see enough new notes 2 share is akin 2 saying dat sanwuolu..Mc Oluomo...El rufai...Ganduje plus all d other Western nd northern Governors nd senators and reps nd state reps nd party big men dat pay allegiance 2 Tinubu can't find him d new notes....Those men aren't on ur level peeps..they av loyalists everywhere...even inside d CBN itself....dat day dt Tinubu was secretly giving money 2 a party man they later claimed 2 be a cripple..no be new 1k notes he give am..nd it was even barely a week after their introduction...those men av done their homeworks long ago...that's y d new notes scarce sef...they ve hoarded d whole thing...
Pls I'm as obidient as one can be abeg...
Just dt this narrative of this rubbish policy affecting d likes of Tinubu just dey vex me cus it's like some peeps don't know those men..underate them nd d evil genuises that work 4 Dem at ur own peril!!!
This nonsense policy will only affect d poor masses not Tinubu nd Atiku...dat is just my problem abeg

Apt!

1 Like

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by TheNiceGuy(m): 11:34am On Jan 27, 2023
Shut up.

What's in circulation.

I was in bank just this morning to withdraw over canter haven't deposited, they still wanted to pay old notes
BossGerald:


It's already in circulation, go withdraw yours, encourage others to do same.

It would circulate more.

2 Likes

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Parachoko: 11:40am On Jan 27, 2023
Winneygirl:


Thanks. You just voiced what I've been trying to say.
People are withdrawing it, and keeping it instead of spending it. They will soon have no choice but to spend it after 31st.
Who are the people withdrawing and keeping it? How much have you withdraw and keep?

4 Likes

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by wizelink(m): 11:41am On Jan 27, 2023
The number of people cueing up at first bank dey break person heart. Everywhere filled up.

1 Like

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by TheNiceGuy(m): 11:41am On Jan 27, 2023
Where are you getting this crap information.

The new note printed is not enough that's why we're experiencing paucity of the notes.. only 200b was printed when the old note in circulation is over 3 trillion
BossGerald:


Don't worry, after January 31st those hoarding the new currency will have no other option than to transact it.

The new note printed is more than enough, you'll see magic happen after the CBN deadline

3 Likes

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by alibiz: 11:41am On Jan 27, 2023
For any serious minded person the 31-1-23 deadline is achievable.
The Abeokuta rally statement is all lies.

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Lamanii22(f): 11:46am On Jan 27, 2023
michlins:
Banks and ATM are still paying old notes as at yesterday here in Nnewi. Maybe it will change today
even today they are still paying old money… new notes has finished at the atm

2 Likes

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Cj4charles(m): 11:51am On Jan 27, 2023
Iamgrey5:
I do Pos business and operate three pos points.

I have only been given old notes since Monday.

One can only withdraw new money at the ATM @ 20k per day.

I do transaction of at least 500k per day at my pos points.

Most of you talking trash don't know what you are talking about.

I swear this deadline has to be extend... many POS business if not all will close with this kind of implementation
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Tin07(m): 11:53am On Jan 27, 2023
I just left a Zenith Bank branch. No new currency, in fact the bank is operating on a half basis. Only receiving deposits. ATM is neither giving the old notes nor the new notes..

I don't know your location, but here the ATMs are dispensing 24/7.

The new currency seem to be scarce because many people are still waiting for the deadline to go overwhelm the bank with their rush hour deposit and withdrawal.
[/quote]
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by mjuvey3: 11:59am On Jan 27, 2023
khreus:

Forty what
Naso you dey jobless reach. No offense intended oh(just thinking out loud)

I needed money so badly for an emergency

I later had to go use POS but I got old notes
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Godwin4444: 11:59am On Jan 27, 2023
Iamgrey5:
I do Pos business and operate three pos points.

I have only been given old notes since Monday.

One can only withdraw new money at the ATM @ 20k per day.

I do transaction of at least 500k per day at my pos points.

Most of you talking trash don't know what you are talking about.

just leave those that withdraw 20k per day

I was at access bank sango otta this morning n they are still paying with old notes, only atm is paying new notes n it’s 20k per day

How will someone that needs over 400 cope with that

Those saying thrash are people that aren’t doing business

2 Likes

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Godwin4444: 12:01pm On Jan 27, 2023
Sammy07:


I saw the post earlier, I just ignored the OP.

Last week, at GTB in Ondo, I went inside the bank to collect cash not even at the ATM

Yet I was given old Notes.
I protested, and the staff was telling me that's what they have,
till this morning access bank sango otta is still paying old notes on d counter

People talking thrash online are those who aren’t into business

I am just fed up today, my customers are coming with old notes n I can’t say no cos I have to sell
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Godwin4444: 12:03pm On Jan 27, 2023
BossGerald:


You're the kid here, maybe in Adult body...what happened to online transfer??
what about Pos people?

Are u telling us those market women also take transfer?
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by onyxo76(m): 12:03pm On Jan 27, 2023
BossGerald:


Don't worry my guy, people have withdrawn and hoarded it since last year, when the deadline comes...they'll have no other option than to bring it out and transact.

You'll see the magic soon
so how do we pay for bike rides ,things like groundnut ,those roadside stuff etc till wednesday next week.
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Cj4charles(m): 12:05pm On Jan 27, 2023
Why a developed country is giving its citizens from 2022 till 2024 before they stop accepting old currency with the queens Image, Nigeria is giving its Citizens just a month and half..... this is bullshit

1 Like

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Godwin4444: 12:07pm On Jan 27, 2023
Robertgreene1:
Interesting....
But all these peeps thinking dt d likes of Tinubu nd Atiku won't av enough new notes 2 buy votes must be dumb... like really dumb
Do u peeps even stop 4 a minute 2 think of d timber nd caliber of men dat work 4 these presidential candidates...saying dt Tinubu won't see enough new notes 2 share is akin 2 saying dat sanwuolu..Mc Oluomo...El rufai...Ganduje plus all d other Western nd northern Governors nd senators and reps nd state reps nd party big men dat pay allegiance 2 Tinubu can't find him d new notes....Those men aren't on ur level peeps..they av loyalists everywhere...even inside d CBN itself....dat day dt Tinubu was secretly giving money 2 a party man they later claimed 2 be a cripple..no be new 1k notes he give am..nd it was even barely a week after their introduction...those men av done their homeworks long ago...that's y d new notes scarce sef...they ve hoarded d whole thing...
Pls I'm as obidient as one can be abeg...
Just dt this narrative of this rubbish policy affecting d likes of Tinubu just dey vex me cus it's like some peeps don't know those men..underate them nd d evil genuises that work 4 Dem at ur own peril!!!
This nonsense policy will only affect d poor masses not Tinubu nd Atiku...dat is just my problem abeg
they are just block heads


So it is tinubu that can control bullion vans that will b affected?

Many are not even seeing it from d business perspective but hate

1 Like 1 Share

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Emaprince: 12:14pm On Jan 27, 2023
BossGerald:


Don't worry, after January 31st those hoarding the new currency will have no other option than to transact it.

The new note printed is more than enough, you'll ksee magic happen after the CBN deadline
You are ignorant man.

So just because you was able to withdraw 5k of the new note, for your mind it is now available on all channels in Nigeria?

Which new notes did CBN print enough? The one they are sparsely giving out to banks?

What information do you have apart from making 5k withdrawal from atm machine

2 Likes 1 Share

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Godwin4444: 12:19pm On Jan 27, 2023
egbetokuns:

OP . It’s good you reported what you witness but don’t generalize it. I’m presently at bank now and no single new note. They keep pushing old note to us especially when you need huge amount of money. Infant through out yesterday no dollars in that bank. Let’s be concern about all of us not about our own life only.
fight don happen for bank here this morning, a man came n deposited 300k old notes n he immediately wanted to withdraw 300k on the same counter then they told him they can’t pay him new notes that they will use the same old note to pay him

Na so the man vex say he must collect new notes, the manager even came out n started begging people that they can only withdraw new notes on the counter n it’s 20k per day

Na so vex start again, the man just dey para
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Godwin4444: 12:21pm On Jan 27, 2023
BossGerald:


I'm not shaming anybody oo, imagine after supporting failure buhari and Apc for a whole 8yrs, he's running a POS...worst still he's a tinubu Apc supporter.

He's crying for his business abi?? What about those people's businesses in the past that was killed by buharis economic policy that he supported??
but had it been he’s supporting Peter obi then u will like it right?

So anyone not supporting Peter obi can die u don’t care, only people supporting Peter obi deserve to live


U people can only survive in places like North Korea where they practice autocratic government u can’t survive in democracy

No wonder u are killing the same people u claim to b fighting for
Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by Godwin4444: 12:23pm On Jan 27, 2023
NinjaXmetahuman:
and what is wrong with that ?

Are you feeding him or did he come to you to beg for money?!

PATAPATA e, you are still eating mama thank you food if we dig well into your miserable life.


What is wrong with stupid people always trying to work shame people.
he prefers to smuggle cocaine than to work so no big deal about him

U should know d tribe he’s from

They can only respect u if u are into crime

1 Like

Re: New Naira Note Scarcity Is False; I Withdrew Mine Yesterday by wunmi590(m): 12:30pm On Jan 27, 2023
BossGerald:


I don't know your location, but here the ATMs are dispensing 24/7.

The new currency seem to be scarce because many people are still waiting for the deadline to go overwhelm the bank with their rush hour deposit and withdrawal.


Bros stop lieing, and do your research well before making such statement....

Not all ATM machine dispense cash 24/7...

I live where banks surround me, when it 10-11pm sometimes, you see me moving from one ATM to the other looking for money....

If you don't know we have more ATM on the island around Tinubu more than most areas...

(1) (2) (3) (4) (5) (6) (Reply)

Side Hustles You Can Try Out In 2018 / Politicians With Billions In Cash Move Against Naira Redesign / A nairalander's Music Studio Project (photos)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 53
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.