Believeintruth:


My wife is a banker. I worked in the bank. The swap yes will cause inconvenience, but this is minor compared to the benefits. Look in the financial circle globally Nigeria is among the red flagged countries for monet laundering, we have consistently failed all Money laundering certification tests as a country. This move is classic and the best for the country. It is a three pronged strategy. First redesign the currency and force those who have cash hidden outside the system to bring it in. Next redesign the AML policy to limit cash withdrawals and criminalise large cash withdrawals. Next redesign the cashless policy which makes it such that large withdrawals must be carried out using online channels, and make reporting of suspicious transactions easy for banks.

ask those hired to attend campaign rallies,they are paid with the new note... politicians were the first to lay hands on it through corrupt bank managers I have not laid hands on any of the new notes as at this morning

juvewalex:
The New notes will still be stocked in large numbers as well in few years from now if government think this is the only way to fight against corruption while courts in Nigeria set free politicians when they face corruption charges.

You stole #9b and court would ask you to pay option fine of #100m .

If we all think these politicians would not have gotten the new notes in large number by now , then we lying to ourselves. People that their banks take cash to them in their comfort homes.

with the new federal government policy, it will not be so easy

gfelo:
Business Men and traders will pay the prize for this corrupt politician, is very bad when big men thief the poor suffer for it.

Now people are scared to collect old note, new note not available, how do u sell, and how do you buy, not every business men and traders use POS.

Don't worry Las las we go adapt, that is Nigeria spirit. After election now, u go imagine how the new naira will b flowing everywhere

Felabrity:
These corrupt politicians can cry from now till tomorrow, Buhari will not move a dime

As if Buhari and emiefiele are not corrupt. The said corruption starts from those two

gfelo:
You guys should continue clapping for Buhari,

When buhari closed borders u guys were clapping, the result only affect the common man.

Now he change Naira note, the result will only affect the common man.

Incase u don't know the people he target this move to have nothing to loose.

From nextweek buying and selling will become very difficult, means of transportation will be difficult, where will you see the new note to pay motorist, what time do u have to make transfer, how convenient conductor will be using POS when passenger will be in hurry not to late to work, combining this with holdup.

Una eye go soon open what this barbarian is abt to throw the whole country to.

Every policy in Nigeria always affect the common man, so don't worry it's just a while Common man will adjust

Felabrity:
These corrupt politicians can cry from now till tomorrow, Buhari will not move a dime

Hopefully.

HarunaWest:
No bank will be sanctioned. Emefiele is Jim ovias boy, all of them are in Bankers committee. They should have phased it out step by step but not outright rejection after 31st. The politicians they are trying to fight keep cash in hard currency especially $. So I don't really get what Buhari and Emefiele concluded before arriving at this policy.

You really don't understand this industry at all. During the time that CBN barred banks from Crypto transactions. Do you know how many banks were sanctioned by CBN and made to pay fines running into hundreds of millions for account that they opened that was used for crypto transactions? I know a bank that the director told me they were fined by CBN for this and they sent an instruction to close all the accounts.

faceland:


The looters were the first to get the newly redesign notes (some since last year before CBN officially released it). Why some places have scarcity of the new notes.

thank you. so why just punish the poor masses Like yesterday my withdrawal was an old note. I heard some stores aren't taking it

Believeintruth:


If they have done this as you say, why are the politicians the largest wailing group on this? Oga I am in the system I know what I am saying.

please name whoever is wailing,if you name BAT,he is wailing because it will affect the common masses and they will all see APC in bad light..please tell me why we still have scarcity of fuel?They said cabals want you all to see APC in bad light thereby returning an Hausa atiku back to the seat...

kingsways:
Countries don't just wake up redesign their currency because it involves a significant cost

Whilst reasons for redesign are numerous; in the case of Nigeria, Corruption is pandemic and a big problem. Corrupt and wicked Nigerians have stocked large amounts of cash outside the official financial system

One of aims of the current redesign exercise in Nigeria is obviously to tackle the issue of corruption by corrupt people who settle their corruption activities in cash

To extend the deadline will give these rogues more time to come up with ways to circumvent the redesign and therefore defeat the aim of the exercise.

Where are the new notes? ......the banks are not paying out new notes.

Obaaderemi2:
Buhari has gone down in infamy already. History will be very unkind to him and the north. He is copying what Modi did in India which nearly destroyed India's economy.

That's not true... We have been shouting digital economy.

We must leave the analog way of doing things.
Give your ATM card some form of protection. Reserve money in one bank for daily transaction and get ATM for it.

Buhari has tried in this one... Crime rate has reduced drastically.
Is been a while I heard about kidnapping in my area.

windvane:
ask those hired to attend campaign rallies,they are paid with the new note... politicians were the first to lay hands on it through corrupt bank managers I have not laid hands on any of the new notes as at this morning

I am not disputing it. But they can never get it in large quantities at all because their money trail is being watched by NFIU and CBN. They are the ones doing Bubu's hatchet job.

newnigerdelta00:





Mugu, can you redesign dollar's, nobody stockpile naira,all the big boy's na dollar's account they get so stop fooling some fool's...men don convert their naira to dollar before now,stop suffering the poor

So you don't know that they redesign dollar?

bergs2:


Oga, forget, this is affecting everyone.
If you had 9b in cash outside the financial system, you'll understand the reason the politicians are working against this move.
It will affect the politicians more.
Ask yourself, how much of the new notes were printed; how much will one politician stash away alone; why do you think the once empty senate sessions are becoming filled?
Well, they cannot be far from the fact that the move is targeted against them buying votes and other inducements.

kikikiki you are very funny.....meanwhile crowds rented for campaign rallies are paid in new notes...did it fall from heaven?

windvane:
please name whoever is wailing,if you name BAT,he is wailing because it will affect the common masses and they will all see APC in bad light..please tell me why we still have scarcity of fuel?They said cabals want you all to see APC in bad light thereby returning an Hausa atiku back to the seat...

If BAT is complaining that it will affect the masses it is a big lie. He is complaining because with any swap that he has done there is already a trail on it and subsequent moves have been blocked. Since when did BAT care about masses?

Revolution2022:
The new notes are not enough.Hence,the extension.

Stop playing into the gallery of corrupt politicians.
This may stress us now but the long term benefit is more.
Don't allow politicians say this move is bad

FarahAideed:
What is the aim? Too many clowns in Nigeria ..if you want to deceive Nigerians just tell them your actions are targeted at the corrupt rich 😅😅😅 and watch them support you , that was how they supported Buhari because they thought he will jail Diezani and Akpabio 😅😅😅😅😅

abeg send me Ur account make I credit you money for beer... Gullible set of nigerians

windvane:
kikikiki you are very funny.....meanwhile crowds rented for campaign rallies are paid in new notes...did it fall from heaven?

Have you received any?

Believeintruth:


You are the mugu. Even mugu 1000 right now it iss hard to move large wads of cash around even your politicians know this right now. Even if the politicians strike a deal with the politicians. Shebi entries will be passed in the system and CBN has access to this, the same with NFIU. The thing is that there is no way it will not be seen by NFIU that is why I said they have entered a serious trap because it will still be used against them.

and someone asked u did. Billion van not deliver cash to politician in broad day light And you kept Mute.. dy play .. If corrupt practices can be seen in the judiciary, I wonder wtf is NIFU.. bye sha

4ward4:


thank you. so why just punish the poor masses Like yesterday my withdrawal was an old note. I heard some stores aren't taking it

Just use ATM for new notes. Since 24th many shops stopped collecting the old notes. It's too risky having old notes.

Believeintruth:


Just say you don't know. NFIU has a lot of suspicious transaction reports on politcians I am telling you what I have information on. Let one just have an issue and you will shocked on the STRs from banks on their transactions.

And I'm asking you again, why have not tried Tinubu that had a bank send two bullion vans to his house? Report till tomorrow, the law will be bent in the favour of the bigmen.

tolexy007:



Don't worry Las las we go adapt, that is Nigeria spirit. After election now, u go imagine how the new naira will b flowing everywhere

Only notes that should be flowing everywhere should be #200 and below! Anything above should be moved to the different forms of cashless transactions!

kingsways:


Even then he can still clean up his image by handing over a credible Electoral system

I don't want to call you a fool, not because you are not one. You are putting your trust on someone who has not failed to show his total incompetency. I pity you.

wehdone:

Depending on how old the 50m is, the manager can take like 2-5m for himself. Now sef, they give them 2-5m of the new currency per batch. What happened to the money we are changing now will still happen to the new notes. The only good thing here is that politicians will not have enough to use for elections

You sabi as e dey go.

Mr Commercial bank worker, hope you're reading the post above

samwash:

You think that is the way it works?
Do you work in a commercial bank ?
Money from nowhere will just hit your bank gbam !! & Money from somewhere will your leave your valut to nowhere just like that.

babyfaceafrica:


If I want to enter 250 bus, I should use bank transfer? If I wan buy pepper for market ko? Or take bike?.. Look, we need more new money that's my own. It isn't enough outside.
Nigeria runs a cash economy

We will pass over this. Why do you think all the Governor's are begging Buhari to extend it? Is it because of the common man?

Let's be patient

bergs2:


Have you received any?

those rented crowds around have and they spend the new notes

juvewalex:
The New notes will still be stocked in large numbers as well in few years from now if government think this is the only way to fight against corruption while courts in Nigeria set free politicians when they face corruption charges.

You stole #9b and court would ask you to pay option fine of #100m .

if we all think these politicians would not have gotten the new notes in large number by now , then we lying to ourselves. .People that their banks take cash to them in their comfort homes.

If this was true, then a politician wouldn't be on campaign ground wailing 'Won gbe Naira pamo'

windvane:
kikikiki you are very funny.....meanwhile crowds rented for campaign rallies are paid in new notes...did it fall from heaven?

there's no way it's not going to hinder this election. It may not totally but it must create a constraint. It's why politicians are fighting back

Believeintruth:


If BAT is complaining that it will affect the masses it is a big lie. He is complaining because with any swap that he has done there is already a trail on it and subsequent moves have been blocked. Since when did BAT care about masses?

You still don't get it...don't worry but I am wondering how they pay rented crowds with new notes

windvane:
ask those hired to attend campaign rallies,they are paid with the new note... politicians were the first to lay hands on it through corrupt bank managers I have not laid hands on any of the new notes as at this morning

We will pass over this. Why do you think all the Governor's are begging Buhari to extend it? Is it because of the common man?

Let's be patient

Zorn:
So why is everyone crying if the new currency is already in use? What else do you need the deadline extended for . You're the one lying to yourself . 31st is the deadline kill yourself.

most of you can't even comment properly because you were brought up by deranged parents...chai!!!

babyfaceafrica:


If I want to enter 250 bus, I should use bank transfer? If I wan buy pepper for market ko? Or take bike?.. Look, we need more new money that's my own. It isn't enough outside.
Nigeria runs a cash economy

most of the things u knew u would be needing this period u should have bought them since, so that u will know u wouldn't really have too much need for cash during this period, Nigerians just love complaining at everything