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.

After election more notes will be released.

Ridiculous what you Saying. What about People abroad that have Naira notes to deposit. We still Looking for People traveling back to Nigeria.

Honestly, We act Like Uncivilized People in Nigeria with no Reasoning. United Kingdom Changed their Notes Last year but you can Still Deposit Old Notes in the Bank without any Problem a Year Later.

Current CBN Governor Should Never Hold a Financial Position again because Everything is Politicized.

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.

GENES11S:


Every major business should acquire POS. With POS, you also get receipt of the transaction should anything go wrong.

That is how they run business in developed countries.

Too many cash transactions Leed to corruption, kidnappings and the rest.

The money we use for cash transactions should not be more than 20% of the country's purse.

my brother Nigeria is far from developed country

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

They already extend the deadline

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

Old 100naira and 50naira notes are still very much available for smaller transactions

Naive reasoning, who is really hurt by this crazy idea to redesign a nations currency and distribute in less than 90 days to a population of over 250 million person?

They can't distribute PVCs in 1 year, its currency that's used by everybody that they want to distribute in 3 months.

I suppose you think this policy will eliminate all forms of curruption in Nigeria come Jan 31st.

Our CBN governor Emefailure is better than the one in the Uk and US who use 2 years to implement their currency change.

Then you must be a genius in stupidity.

Only a fool will think that this new policy is affecting the political big wigs.

These people already has the new notes stashed away in their homes. This money can be delivered to them in their homes. They have influential people in top financial institutions..so its easy for them to get what they desire. Emefiele himself knows this. He is also as currupt as the people you think he is fighting.

The common men clapping and rejoicing thinking the policy is to stifle tinibus chances need their brains checked. Tomorrow, all of you will be hear crying because your business and general life is adversely affected while tinubu will be somewhere enjoying and spending the new notes as he likes.

Una MUMU too much. SMH

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

many of you reason like mobs
So a policy that was announced 2 months ago has not given those with means enough time?
How exactly is this supposed to hurt corrupt politicians? You parrot this nonsense without thinking

Break it down.....How does this affect corrupt politicians?
Did the policy stop them buying dollars for 2months?
So there are no corrupt bankers?
You mentioned Buhari?
Who was the beneficiary of Bullion van 2019??
Was it dollars or Naira deployed at APC primaries?
Any one with corrupt cash e.g 10 billion will find a banker or bureau de change willing to clean it in Nigeria unless it is not the Nigeria we all know

Leave these guys alone, the CBN policy is on the move. No stopping it by God's grace! Nigerians are innately corrupt. The CBN cashless policy does not disable it individuals from holding cash just a limited cash o. I wonder what an average Nigerian needs physical cash of more than 20,000naira for in a day!

Emmah123:


Old 100naira and 50naira notes are still very much available for smaller transactions

VillagePipu:


Once the election comes and you see how they are spending the new notes, you will wonder how they managed to circumvent the policy.

Abi o

Emmah123:


Old 100naira and 50naira notes are still very much available for smaller transactions

not relevant
There is a limit to withdrawal in cash whether 50 or 1000 note which means that the supply of notes is restricted

Eriokanmi:
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.

I can categorically tell you that no politician in Nigeria right now has enough of the new money. You are absolutely correct, the money sent to banks to disseminate are controlled so there's no way any banker or even manager can avail more than what they have in their vault besides with ATM mandates(all ATM should dispense the new cash) it will be difficult for any politician to get what he needed let alone having more for election. The policy isn't friendly but if this is what it will take to have free and fair election without cash inducement it isn't too much of a price to pay.

Emmah123:


Old 100naira and 50naira notes are still very much available for smaller transactions

So it is enough to handle all your business dealings for the day?
Yesterday, some one made a transfer of 20k to me..and network failure brought everything to a halt cos the money refused to drop for over 2hrs. He left and said he will be back on Monday. The money dropped after like 4hrs. I hope you will be happy if you find yourself in this kind of situation where you will have to abandon an urgent business/deal due to our unstable bank networks.

All of you should keep yapping nonsense and celebrating thinking tinubu and the big men are affected.. not knowing you are cheering on as they are digging you deeper into hardship.

Naive people.

http:///29cdfb85230129en_ng?link=1&client=news

https://punchng.com/breaking-cbn-extends-old-naira-deadline-till-february-10/

Now extended for another 10 days, and more days thereafter.

Emefiele and Buhari have disappointed you again.

What will you do about this?

omonnakoda:
many of you reason like mobs
So a policy that was announced 2 months ago has not given those with means enough time?
How exactly is this supposed to hurt corrupt politicians? You parrot this nonsense without thinking

Break it down.....How does this affect corrupt politicians?
Did the policy stop them buying dollars for 2months?
So there are no corrupt bankers?
You mentioned Buhari?
Who was the beneficiary of Bullion van 2019??
Was it dollars or Naira deployed at APC primaries?
Any one with corrupt cash e.g 10 billion will find a banker or bureau de change willing to clean it in Nigeria unless it is not the Nigeria we all know

it's not always the Nigeria you know, Bros. Good things can happen in this country but unfortunately we have corrupt minds as citizens. You guys can't be blamed though. Nigerians have been plagued with unceasing corrupt practices by the political elites. However, rid yourself of negativity and embrace hope. The new CBN policy as a whole will work positively for the country if supported. The fiscal laws recently enacted in furtherance of the touted cashless policy are tactful enough to keep banks on check! The CBN is doing what they are constitutionally empowered to do: checkmate the commercial banks. Follow the various measures laid bare by the CBN to retrieve the old currency in circulation, you'll see it's not business as usual for corrupt bank practices. The new notes were limited by the CBN, tactically. They want the old notes in exchange for little new notes. Nigerians should e-transact the difference. The poor and average Nigerians have nothing to lose. The 20000naira physical cash withdrawal limit will MORE THAN suffice for most of us in a day.

JOLLOFman:
it's not always the Nigeria you know, Bros. Good things can happen in this country but unfortunately we have corrupt minds as citizens. You guys can't be blamed though. Nigerians have been plagued with unceasing corrupt practices by the political elites. However, rid yourself of negativity and embrace hope. The new CBN policy as a whole will work positively for the country if supported. The fiscal laws recently enacted in furtherance of the touted cashless policy are tactful enough to keep banks on check! The CBN is doing what they are constitutionally empowered to do: checkmate the commercial banks. Follow the various measures laid bare by the CBN to retrieve the old currency in circulation, you'll see it's not business as usual for corrupt bank practices. The new notes were limited by the CBN. They want the old money in exchange for little new money. Nigerians should e-transact the difference. The poor and average Nigerians have nothing to loose. The 20000naira physical cash withdrawal limit will MORE THAN suffice.

what is your point in summary?

Now that we don't have it in abundance, we should continue to suffer?

Thanks to God, it was extended

omonnakoda:
what is your point in summary?

In summary, reason positively and you won't see barricades always.

Agadinaagwuofe:


I can categorically tell you that no politician in Nigeria right now has enough of the new money. You are absolutely correct, the money sent to banks to disseminate are controlled so there's no way any banker or even manager can avail more than what they have in their vault besides with ATM mandates(all ATM should dispense the new cash) it will be difficult for any politician to get what he needed let alone having more for election. The policy isn't friendly but if this is what it will take to have free and fair election without cash inducement it isn't too much of a price to pay.

Nigeria is a very dollarized economy and so not having new notes will not change anything if you have dollars
Dollars are even better for corruption because of size/volume
If I was a politician planning to buy votes I would not have been holding naira by now
Dollars are easier to manage

Salubata:
Now that we don't have it in abundance, we should continue to suffer?

Thanks to God, it was extended

Give us the source of your breaking news sir. When was it extended?

JOLLOFman:
In summary, reason positively and you won't see barricades always.

Define reason positively?
Guy I really do not have interest in motivational speech today
Go and sell that elsewhere

omonnakoda:
Nigeria is a very dollarized economy and so not having new notes will not change anything if you have dollars
Dollars are even better for corruption because of size/volume

How is dollars better for corruption within the newly established laws of the CBN?Explain

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 can use N20, N50 and N100 notes.

omonnakoda:
Define reason positively?
Guy I really do not have interest in motivational speech today
Go and sell that elsewhere

There is nothing to sell bro. It's a perception. Nigeria have good people with good policies at the helms of affairs right now but that too is a perception! I can't help hopeless Nigerians much.

JOLLOFman:
There is nothing to sell bro. It's a perception. Nigeria have good people with good policies at the helms of affairs right now but that too is a perception! I can't help hopeless Nigerians much.

So why are YOU telling ME this?
Why should I be interested in your opinion?

JOLLOFman:
How is dollars better for corruption within the newly established laws of the CBN?Explain

Who are you and why should I explain anything to you?
Was I talking to you?

omonnakoda:
So why are YOU telling ME this?
Why should I be interested in your opinion?

Your statement " .... Unless it is not the Nigeria we all know" prompted my reply. The CBN policy is hope, embrace it.

JOLLOFman:
Your statement " .... Unless it is not the Nigeria we all know" prompted my reply. The CBN policy is hope, embrace it.

That is how I see it and you won't charge that

omonnakoda:
Who are you and why should I explain anything to you?
Was I talking to you?

I believe we have thousands of eyes on this forum at every single moment. If you lack the depth to be able to answer a question in a PUBLIC forum, then you shouldn't throw tantrums either. My question was not disrespectful.

JOLLOFman:
I believe we have thousands of eyes on this forum at every single moment. If you lack the depth to be able to answer a question in a PUBLIC forum, then you shouldn't throw tantrums either. My question was not disrespectful.

So I am obliged to engage with YOU?
Yes there are thousands of idiots on public forums including this one.
I still retain a right to choose who to engage with
I choose not to engage with YOU accept that gracefully and move on

omonnakoda:
So I am obliged to engage with YOU?
Yes there are thousands of idiots on public forums including this one.
I still retain a right to choose who to engage with
I choose not to engage with YOU accept that gracefully and move on

Neither am I bro, u are simply rude with little knowledge. My initial question was not disrespectful but u chose to drop unwise statements.

NotKnown:
There are things the redesign will do.
Like the OP stated, corrupt people will be forced to bring out their looted funds or it will be rendered useless.

For those who think they will still get a hold of the new cash and store them, well one bad news for them again is that this new note is not as durable as the old note. They won't last long while hidden somewhere.

I think what will happen is that the govt will extend it by 1 or 2 weeks. But make sure it is fully effective by election period so those who stashed money to buy votes will be rendered useless.

Then when that is done, some months later, the new government or CBN will come up with one story and say we can use both notes simultaneously just like we used the redesigned N100 notes some years ago. Then they gradually and systematically retrieve the notes back.

Forget that it will affect politicians & vote buying jare.. We all know that rather than the politicians not having the required new naira notes cash, it is the general populace that won't because these Politicians can afford to have Bank Managers ship the cash to their homes.