LET US MAKE THE BEST OF THIS MOMENT

The past few weeks have been a challenging one for Nigerians especially our SME’s, poor and vulnerable masses and those whose very survival depend on daily cash transactions. They have felt the brunt of the combined problems of scarcity of fuel and new Naira notes.

We feel the pains of our market women and artisans who have experienced low sales because customers do not have cash to make purchases. We hear the loud cries of farmers in rural areas and hinterlands who have been forced to sell their produce at much lower prices so they don’t lose out completely. We hear every Nigerian dealing with the consequences of the roll-out of the cash swap programme.

While the scarcity arising from the supply limitations of the new naira notes is still with us, we are encouraged about reports that the fuel queues across the country are easing out as a result of better supply to fuel stations. We are now confronted with how to bring quick, sustainable solution, and relief to Nigerians on the challenges still posed by the non availability of new Naira notes, so that social and economic activities can move on unimpeded and normalcy can immediately return to our financial services sector and overall productivity of our nation.

In seeking a quick resolution, the National Council of State met on Friday, February 10, 2022 and advised the government and Central Bank in particular, to push more new Naira notes into circulation and also allow for the old notes to remain a legal tender by ensuring supply gaps relative to infrastructural limitations are bridged by recirculating it to ameliorate the pains caused by the scarcity of new ones. We agree with the wisdom of the Council of States as a necessary starting point to begin redressing the unintended consequences of what would have otherwise been a good policy that required mainstream adoption. For the records, I and my running mate, Senator Kashim Shettima and our campaign council do not have anything against the CBN Naira redesign and cashless policy in principle. We are,however, only concerned about its disruptive implementation and the hardship it has brought on the generality of our people who currently can’t access their hard-earned money to meet obligations and the attendant consequences on the informal sector, where majority operate.

Despite the challenges and current difficulties, we are a country of resilient, bold and courageous people who don’t succumb to hard times. We have always overcome our most difficult times and come out better as a people and a nation. This time will not be different. We will make lemonade out of our current lemons.

To bring immediate relief to our people, we urge the Central Bank to consider the following:

1. Following the advice of the Council of States, the CBN should announce that the old and new Naira notes (especially the non-withdrawn notes and coins) will co-exist as legal tender for the next 12 months to follow examples of countries that have successfully implemented similar monetary policy. This will immediately remove growing tension in the country, eliminate panic reactions by the populace and allow time to scale up infrastructural gaps around alternative payment options to cash.

2. We advise the immediate suspension of associated charges on online transactions and bank transfers and payments via POS until the current crisis is fully resolved. This cost should be considered a roll-out expense by the CBN to incentivise the envisaged shift to alternative transaction channels; for both the financial services consuming public and those in charge of implementing the scale-up programme.

Headquarters of the Central Bank of Nigeria (CBN)
3. Mobilise all Money Deposit Banks, Payment platforms to show clear commitment and timelines on expanding their infrastructure and support services.

4. Bring in Fintech companies with capabilities into currency swap programme for the next 90 days to help decongest banking halls and ATM points where people line up for hours.

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5. The Central Bank and other relevant MDA’s should form an Inter-Agency Action Committee for immediate oversight over the cash supply gaps from the Nigerian Security and Minting Company and deal with issues around capabilities and turn around time to meet the needs of the informal sector and unbanked people.

6. The CBN, National Orientation Agency and Ministry of Information, State and Local Governments with their relevant organs in both the public and private sectors should commence a major public enlightenment and sensitisation campaign to further educate and empower our people on the new naira and cashless policy for better understanding and mainstream adoption.

As leaders, our commitment to our country everyday must be on how to make life better for our people and we are called upon not to waste the opportunity the moment presents to us to ramp up capacity and capability to serve 200 million Nigerians, leaving no one behind and ultimately improve the living conditions of every single Nigerian. Our task now is to restore hope in the country by implementing these steps to energise our people that we can do big things for a better future and shared prosperity. We can build upon this citizen-focused policy challenge to offer a template on how governance should work for the people.

God bless you and God bless Nigeria. We are overcomers.

Asiwaju Bola Ahmed Tinubu
All Progressives Congress Presidential Candidate
February 12, 2023

We advise the immediate suspension of associated charges on online transactions and bank transfers and payments via POS until the current crisis is fully resolved

This cost should be considered a roll-out expense by the CBN to incentivise the envisaged shift to alternative transaction channels

This is when you know a thorough bred Accountant is speaking. Ordinary people cannot put the message across like this.

God Bless Incoming President Bola Tinubu

Incoming 001

I just love this man

If he manage enter power all this things no go concern am again o. Oju ọbọ

Is it not madness to see a knowledgeable man like this n go for a trader who supported economic sabotage like pandora

How is peter obi different from emefiele?

They both hoarded money n allowed the masses to suffer, obi did same in anambra by stashing people money in banks to yield interest for him n also saving peoples money n let them suffer


Imagine obi supporting this madness, n it’s super annoying that the same people who are supporting obi n emefiele are also queuing in banks for hours to get their money

They said it’s cool to suffer once it will make Tinubu suffer, same mindset of let’s allow unknown gunmen kill us so buhari can suffer

At d end of d day, did Tinubu suffer?
At d end of d day, did buhari suffer?


I urge Nigerians not to vote for people who believe when they stab themselves their neighbors will n affected


Vote a man who understands d economy n has a clear cut pattern on how to make things work out n not an Igbo hype whom they themselves cursed him when he was governing them

Imagine when u mistakenly vote obi n he wants to punish an opponent he knows wants to go n withdraw in bank, the senseless peter obi can urge all banks not to open cos of one man not minding millions of people that will suffer

Do you love me
Do you love me
Do you love me

Take your Apv ..., PVC on 25th January and vote for me

This is actually the best way to go about it.

Abi..... So that your money will not waste just like that.... Thiefnuuuubu aka bulaba....

No wayyy...your suggestion is selfish and self-serving.

We want to know how much of the old naira notes that have been stashed away by the likes of you in good time, and by the deadline, if you are not able to put the stashed away loot back into the banking system, you can as well share it amongst your urchins to use for ass-wiping...

Thank you.

Signed,

Emebobo

May this man never come near the presidency with his zero knowledge of the business world.

If you do zero transaction cost , how would the payment platform make money .

He has just killed the whole essence of new currency with his limited views , once kidnappers know of this , they will bounce back

God Bless Incoming President Bola Tinubu

GHOSTTALK:
Abi..... So that your money will not waste just like that.... Thiefnuuuubu aka bulaba....

use your head n align with reasonable solutions

I guess u are still been fed by your parents n u are given pocket money so u don’t know people wake up n queue as early as 4am to withdraw

I guess u don’t know it now takes 2k charge to withdraw 10k from Pos

All these kids still eating mama thank u self

Godwin4444:
use your head n align with reasonable solutions

I guess u are still been fed by your parents n u are given pocket money so u don’t know people wake up n queue as early as 4am to withdraw

I guess u don’t know it now takes 2k charge to withdraw 10k from Pos

All these kids still eating mama thank u self

They are suffering but don't want solutions

Tinubu is the most knowledgeable among the presidential candidates remove sentiment.

gaby:
No wayyy...your suggestion is selfish and self-serving.

We want to know how much of the old naira notes that have been stashed away by the likes of you in good time and by the deadline if you are not able to put the stashed away loot back into the banking system, you can as well share it amongst your urchins to use for ass-wiping...

Thank you.

Signed,

Emebobo

....but crooked and evasive obi Pandora's money is not in our banking system, it's hidden thousands of miles away from the shores of Nigeria, it's all the way inside secrete bank accounts in Panama, a sick and unpatriotic scheme to evade taxes and deny even you the needed taxes that you need to build roads, bridges, hospitals, schools and so on.

Is Obi's hidden money Panama helping you in Nigeria or his own people in Anambra?

You Igbos just happily walk on your empty and clueless brains, you spew rubbish as if spewing rubbish is your future ambition.

kettykin:
May this man never come near the presidency with his zero knowledge of the business world.

If you do zero transaction cost , how would the payment platform make money .

He has just killed the whole essence of new currency with his limited views , once kidnappers know of this , they will bounce back

hope u know sme are packing up already n cash influence businesses are now closing up cos they can’t get cash

Many people are already losing jobs n many companies are experiencing low sales which translates to d fact they might have to law off workers when they can’t cope

How do u expect a country reliant solely on cash to adjust within just 100 days when a large chunk of the people hardly do transfer

People will start losing jobs n they will start taking to crime then u will understand better

Emefiele told u they don’t have enough paper n they don’t want people to spend old notes which means confusion on their part

Ask yourself why they have never made any official statement to d meeting they held yesterday

kettykin:
May this man never come near the presidency with his zero knowledge of the business world.

If you do zero transaction cost , how would the payment platform make money .

He has just killed the whole essence of new currency with his limited views , once kidnappers know of this , they will bounce back

How do you think financial platforms like Opay are able to stay afloat even though they don't charge for sending and receiving money?

By the way, traditional banks have so many ways of making money. They actually don't need to charge for sending and receiving funds.

abc115:


They are suffering but don't want solutions

those fo.ols keep mentioning tinubu who is never affected but ignore the people suffering

Imagine using 2k to withdraw 10k for Pos n if u can’t u have to queue for over 5 hours at atm n u must go there as early as 5am

Many of them are kids who are been fed, if u have people u feed n give money everyday u will feel d pain

kettykin:
May this man never come near the presidency with his zero knowledge of the business world.

If you do zero transaction cost , how would the payment platform make money .

He has just killed the whole essence of new currency with his limited views , once kidnappers know of this , they will bounce back

With your manner of warped and upside down thoughts, we now know one of the many reasons why the SE is the poorest, the most backward and unproductive regions in Nigeria.

Unproductive people with terrorists enforced sit at home people suffering and losing 4 and more days of economic activities every month and with zero major or worthwhile economic and industrial investments are not in any position to say anything about the rest of the country.

plaindealer:


....but crooked and evasive obi Pandora's money is not in our banking system, it's hidden thousands of miles away from the chores of Nigeria, it's all the way inside secrete bank accounts in Panama, a sick and unpatriotic scheme to evade taxes and deny even you the needed taxes that you need to build roads, bridges, hospitals, schools and so on.

Is Obi's hidden money Panama helping you in Nigeria or his own people in Anambra?

You Igbos just happily walk on your empty and clueless brains, you spew rubbish as if spewing rubbish is your future ambition.

d same people who believe killings themselves will affect buhari

They now believe sleeping in banks to withdraw money will affect Tinubu

I can’t just imagine how a whole tribe will reason like that

plaindealer:


....but crooked and evasive obi Pandora's money is not in our banking system, it's hidden thousands of miles away from the chores of Nigeria, it's all the way inside secrete bank accounts in Panama, a sick and unpatriotic scheme to evade taxes and deny even you the needed taxes that you need to build roads, bridges, hospitals, schools and so on.

Is Obi's hidden money Panama helping you in Nigeria or his own people in Anambra?

You Igbos just happily walk on your empty and clueless brains, you spew rubbish as if spewing rubbish is your future ambition.

What's my business with Peter Obi?

Densed empty skull.

Everyone is Ipob...mumu

Signed,

Emebobo

Godwin4444:
hope u know sme are packing up already n cash influence businesses are now closing up cos they can’t get cash

Many people are already losing jobs n many companies are experiencing low sales which translates to d fact they might have to law off workers when they can’t cope

How do u expect a country reliant solely on cash to adjust within just 100 days when a large chunk of the people hardly do transfer

People will start losing jobs n they will start taking to crime then u will understand better

Emefiele told u they don’t have enough paper n they don’t want people to spend old notes which means confusion on their part

Ask yourself why they have never made any official statement to d meeting they held yesterday

What Tinubu suggested will kill the online payment platforms and send thousands of entrepreneurs back to the labour market and kill the startups thriving in Nigeria

plaindealer:



With your manner of warped and upside down thoughts, we now know one of the many reasons why the SE is the poorest, the most backward and unproductive regions in Nigeria.

Unproductive people with terrorists enforced sit at home people suffering and losing 4 and more days of economic activities every month and with zero major or worthwhile economic and industrial investments are not in any position to say anything about the rest of the country.

You have nothing meaningful to offer or discuss

Okay

A knowledgeable man that can't remember his name😂😂😂

APC and their scrab write up! You people should allow this man to have one on one debate not hiring Agboro to write this nonsense for him.

A thief wants to advise u on where to keep it money..

Best way to go

Withdraw from your permanently limited PayPal account fast

If na Tinubu want fix nijeriya, make the kwan3 remain like this.

Atiku 2023

kettykin:


What Tinubu suggested will kill the online payment platforms and send thousands of entrepreneurs back to the labour market and kill the startups thriving in Nigeria

how is Opay surviving?

Godwin4444:
how is Opay surviving?

Okay, interswitch, remita , paystack, cowries, flutterwave, stripe all survive on transaction cost. That's there revenue, that's where the profit is.

Opay like Renmoney loan money to individuals and businesses.

Infact the CBN should go ahead and listen to Tinubu and do what he says, let's see who will suffer most when the payment industry collapses

Now that was a top level administrator talking, not importer and exporter, clearing and forwarding economist.