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.

And today India has overtaken Britain as 5th largest economy in the world.
It's harsh but we will still adjust and get better

babyfaceafrica:


There are very few new money outside

What of hundred naira notes?.....you can go to bank and ask for that....then do transfer or use POS for bulk buying

Obaaderemi2:
Which crime rate reduced? Just thank God you and your loved ones are not affected. How will new notes reduce crime? Very soon you will see the new notes everywhere and people will continue trading seamlessly using cash again. Nigeria is still largely an informal economy. There are too many illiterates. Going digital is a gradual thing. You don't force it if you don't your economy to take hits. India tried this nonsense in 2016 and by 2017 the GDP went down by about 2%. Buhari doesn't mean well for nigerians. He's vindictive against someone.

If you still give most Nigerians 2 years, they would still not make this transition.

I kept advising some folks about making this adjustment since last year. All they kept saying is, "is this not Nigeria... E no go happen, they go extend am."

Nigerians need tough hand, to sway them to do the right thing.
The cost of minting money, the illegal transactions, the inflations calls for this policy.

Let's monitor how most of the money (transactions) move electronically.

CAD and USD is scarce is because, much isn't printed and in circulation. When a commodity is scarce the value increases.
We have made new discoveries...
This policy would sanitize our civil service, where these bags are carried and stored at home.

One Minister in Nigeria, claimed we owe tax, even when these deductions are being made from our salaries. He refused paying us our consequential adjustments (Minimum wage differential) accumulated since 2019, and pocketed over 2Billion.
We have sought for proof of our indebtedness, but none has been offered. He carried away this money in cash and it would rot with him.

charles009:


It is time for businesses to evolve...Allign or go home and sleep. There is no morality in business. The wise ones are looking for POS machines to simplify their payments. You thought pattern belongs to 18BC

How many POS do you have in your house, your business place, or even in your streets to transact day to day businesses?

This is Nigeria, a third world rat poor country in case you don't know.

Politicians have already gotten the new notes needed for the election. It is only the masses that are suffering.

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.

Which politicians have gotten the new naira notes in large number and from where exactly? If that's the case, why are they crying then? You can't get what's not available.
The cbn only released a few and thats what you see everywhere in bits and pieces. They know what they're doing. Go to banks, no new notes.

You can't withdraw more than the said limit so it will be difficult to hard cash in future. There's a daily limit for both corporate bodies and individuals, same applies to cash deposit . With BVN , it's easy to track, unlike before when you can withdraw money in Ghana must go bags.

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.

Let the business men learn how to use POS. My only problem is, banks have become a den of thieves, where your money can evaporate from your account and condense in their accounts without a trace, and nothing will happen.

How many market women or aboki can navigate through bank apps?

kingsways:


How will it affect the common man. My Common Man only needs to simply take his cash to a bank and pay into his account

seunmsg:
Politicians have already gotten the new notes needed for the election. It is only the masses that are suffering.

I don't think they care about the masses anyway. We've always been their specimen.

seunmsg:
Politicians have already gotten the new notes needed for the election. It is only the masses that are suffering.

The masses have suffered for 7+ years .

Extra one month won't kill them .

Irupetepete:
All These pain will be in vain

That's my thought.

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.

Seriously it baffles me when people think it's a good idea because they want to tackle corrupt politicians, these so called politicians are the major shareholders in most of the Banks and can get any amount of New naira notes when they need it.

The poor citizens are always at the receiving end, could you believe that to withdraw 10k of New naira notes at the POS is 1k?

Hussein035:



Stop typing anyhow. The purpose is to make APC a very catastrophic party then return the power to north through Atiku. Tinubu will still win we are tired of the northern aristocrats who only believe in almajiri system to maintain poverty

So you are saying President Buhari is watching haplessly while PDP is now in total control of the CBN (Naira recoloring) and NNPC (fuel scarcity) and portraying APC his party in bad light.

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.

Oga you're not making any point with this argument.

babyfaceafrica:


There are very few new money outside

That's not true.

moscow007:
When Buhari approved increase in Electricity tariff, the masses cried politicians partied and praised Buhari

When Buhari closed the borders the masses starved and many died, yet the politicians didn't raise a finger for us.

When Covid-19 palliative was hoarded in different warehouses across the country, even a certain Govt shaded crocodile tears mocking the masses while hoarding their food...many lost their livelihood, hundreds died of starvation while politicians united and partied.

Nigerian youths protested and were shot at, rounded up and locked in cages...the Lagos Landlord ran away to enjoy his lavished vacation and never care. Just few weeks ago some End-Sars patriots were still being released...as we speak many are still locked up without charges

And now all of a sudden Nigerian Politicians Tinubu cares about your suffering... please tell us another joke.

Here are the fact, out of 11trillion notes printed by CBN in the past only about 3.35 trillion is in circulation, about 7.65 trillion is being hoarded by politicians and criminals.
No matter what any Urchin and Criminal will tell you, the newly printed notes is not even upto 3trillion to fully replace the cash in circulation talk more of the ones our Politicians hoarded, no matter your influence and control of the banking system no politician can easily replace the volume of cash hoarded...it's impossible!!

And for a fact, no common man will loose from this new policy, afterall 100 naira notes have not changed.

In few weeks time you will understand that this policy is one of the 3 succors Buhari's administration gave Nigerians in d midst of the suffering.

Toping the list are New electoral Act and New Power Plants.

Nicely put my brother.

How much of d new notes has the CBN printed?

If CBN have printed d new notes then why are they scarce,it means the available new notes have been swapped for d corrupt looters who stashed money.thereby banks are giving others d old notes collected from d looters.

kingsceemark:


My brother the thing tired me, yesterday for one market in my area here, see as those market women stranded as nobody is selling because none of them ever used their eyes see the new naira notes, I nearly shed tears for them

Nigerians want Nigeria to be like America or Canada where they run to everyday or even Europe but ask them if they are willing to pay the price and make sacrifices just like the other countries did and they won't be able to answer. Its all about corporation and sacrifices, I'm not a rich man neither am I poor but I think the government means well with this redesign and cashless policy, apart from corrupt politicians, terrorism and kidnapping will be reduced drastically.

Get new notes enough for petty transactions, anybody that wants above 1k from your hand, do transfer.

kingsways:

jw will it affect the common man. My Common Man only needs to simply take his cash to a bank and pay into his account

So what will u spend after! U deposit the new one and no new notes given or available, how will u buy things in the market after. I went to deposit yesterday and today again. But i never collect just 1k new note from bank. U think people like Tinubu, atiku will not have way to get new currency in the bank. U think the one they kept at home will not be returned to bank, keep deceiving yourself. We the masses suffer for this. Naija is rigid, no way to cope with these within weeks. Politicians are even the one hijacking the new notes. Don't be surprised to see new notes sharing among people on election. They are all failure including the cbn gov

Yusufisraelj:


In few weeks time you will understand that this policy is one of the 3 succors Buhari's administration gave Nigerians in d midst of the suffering.

Toping the list are New electoral Act and New Power Plants.

Nicely put my brother.

This is what they call Medicine after death. For almost eight years he did nothing but in just a few weeks before he leaves Nigeria will suddenly become an El Dorado (paradise). Sorry, but I'm not buying it.

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.

What exactly is the aim of the naira redesign? What is the benefit? You said there are the reasons are numerous, but you couldn't provide any convincing reason.

You talking about corruption and it's being pandemic. What has that got to do with naira redesign?

How have corrupt and wicked Nigerians stocked large amounts of cash outside the official financial system? What is the "official financial system*? How much is supposed to be in "official financial system"?

How does naira redesign tackle corruption? What was the essence of BVN and NIN? Are yiu saying they were ineffective against corruption?

Without naira redesign, are you saying that buhari can't fight corruption?

kingsways:


If your cash is safely in your account, you can use POS or bank transfer to pay your bills. You don't need to rush to get the new money

thank you

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

You are right, how would you transact with most market women? Some of them don't even have an account, not to talk of transferring money to them. Because of the scarcity of the newly changed Naira note, I see counterfeit flooding our market soon

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.

OUR BROTHERS IN THE CBN GIVE THE POLITICIAN THE MONEY TO GET THEIR OWN COMMISSION ----- NOW WHO'S FAULT

Zorn:
Vultures will feed on your dead body if you ever drag my parents to your stupidity .

it will never be well with the couple that brought you to this world,son with 10 father's.if you can't engage properly in public space your parents failed

kingsways:


How will it affect the common man. My Common Man only needs to simply take his cash to a bank and pay into his account

where is the new cash

Believeintruth:


If truly rented crowds are paid with new money the dynamics of money circulation would have made the funds to be fully in circulation and people will not complain about scarcity. How many rallies has Tinubu has in all that states in the past few weeks? If truly new money was circulated there it would trickle down in circulation and ease the currency shortage.

please stop it,it is the 10k/5k given to hungry citizens that will go round?watch how that new currency will be surplus after elections

I was in a youth meeting weeks ago, a popular politicians Contesting in a new party visit d association to see d youths of my town. He gave d association new notes in envelope, despite not been in govt for yrs o, political career is almost dead , what About those in govt, u think people like Tinubu will not go Tru several state govt to get the needed money for election? Do u have ideas of how much diff state gov under APC will give out . So a gov will not have access to new notes, we should continue to deceive ourselves. Even in d bank now, i paid money to security B4 they allowed the person i sent in. I sent someone that's handicap o, same tin today , no single person is leaving the bank with new notes, just deposit old one and go. Masses suffer, they should end d submission and let d new one continue to b scared, Den protest like endsars will hit d town

Chetas81:
OUR BROTHERS IN THE CBN GIVE THE POLITICIAN THE MONEY TO GET THEIR OWN COMMISSION ----- NOW WHO'S FAULT

That's y u don't see this election coming as solution to naija problem. Can cbn gov go round all the banks to see himself. Even if he send someone, the person will collect bribe and give him reply that no problem in those branches he visited

Some FRDs have just a note of 200 naira, are u saying all those places he wanted to buy things will accept transfer, 50 naira table water, pepper, ponmo, ! How many transfer will u do in a day and with bank charges o! Walahi, e no go better for cbn govt and co. Naso them ban crypto den , pls have we stopped fraudulent activities since then, or has kidnapping stopped since then ?

dchamp234:

Nigerians want Nigeria to be like America or Canada where they run to everyday or even Europe but ask them if they are willing to pay the price and make sacrifices just like the other countries did and they won't be able to answer. Its all about corporation and sacrifices, I'm not a rich man neither am I poor but I think the government means well with this redesign and cashless policy, apart from corrupt politicians, terrorism and kidnapping will be reduced drastically.

What are the sacrifices America, Canada and European countries made that you say nigerians don't want to make?

How does the government mean well with the cashless policy?

How did the countries you mention implement their cashless policy?