allthingsgood:


Na small pikin de worry u. One thing millionaires never do is brag about being millionaires. It’s only people that have never seen money that try so desperately to impress. Like I said you are only fooling yourself.

Millionaire don’t brag, they do what? Poor stinking man like you. You think everyone is from broke linage like you. Ode

obi58:


I agree with you. To me the policy was a good idea perhaps the timing was wrong but if we had allowed the policy to work it would have helped shrink corruption because it would have encouraged transparency and audit trail for funds in the system.

The policy failed just like IREV. The aim was to reduce money in circulation and change our economy to electronic driven instead of cash driven but it failed because the Banks who claimed to have a system to accomodate increase in electronic banking suddenly turned around to claim their servers couldn't manage the inceeased transactions then they went ahead to hoard the printed currency selling them to politicians. To me it remains an excellent policy that should have been continued even after election.

allthingsgood:
Emefiele is a useless coward

Has that increase the value of Naira

Abagworo:


The policy failed just like IREV. The aim was to reduce money in circulation and change our economy to electronic driven instead of cash driven but it failed because the Banks who claimed to have a system to accomodate increase in electronic banking suddenly turned around to claim their servers couldn't manage the inceeased transactions then they went ahead to hoard the printed currency selling them to politicians. To me it remains an excellent policy that should have been continued even after election.

I agree 💯 with you. We have been on this cashless policy drive now for over 10 years and at the first time of going fully live, the banks failed us and of course also the politics and the hoarding of cash messed everything up

To implement in this current climate of extreme hardship would be close to impossible though because those (political) forces with stockpiles of cash that this policy was designed to checkmate have been given enough time to exchange their old notes for the new ones. So right now implementing it will only affect the poor who control less than 15% of the total money supply.

I don't want to remember that season. I can't forget the day I queued at an ATM for 3hrs just to get there and the machine was programmed not to pay more than 2k.

Before the policy was made by idiot Emefiele, only few Nigerians go about with cash except traders bro. Go and check the statistics! Most people make use of transfer and card.

obi58:


Please explain to me the financial benefit of the redesign policy to Emefiele.

That redesign policy during its short stint encouraged the geometric growth of bank transfers which encourages audit trail and transparency in the system. Things that caused the policy not to work are mainly politicians who instigated Nigerians to protest and Nigerians themselves who started hoarding cash instead of just taking what they needed per time thus making the cash more scarce than it should have been.

Puremind1225:
Idiotic senate-president, we all know the intention of emefiele was for the best interest of the masses, but fantastically corrupt polithiefians like you and your drug kingpin of a master, corruptly twisted the good policy.

God forbid it that any of your family member had died during that scarcity as it happened to so many people you won't be here spewing the rubbish you wrote above.

oluwaseyi0:
Emefiele mopping of naira is great thing but at the most wrong time, there's no way he will remove political undertone as it's too close to election


Also the failed naira swap shows Buhari is a complete dunce

Even in the face of naira crises that could jeopardize his party chances at the national election this dunce of a president keep mute

I'm sure he will not have been silence if done in 2019

Silence? Who would have done that or suggested that in 2019? It is obvious that wickedness resides in the heart

seunmsg:
That crook called Emefiele really did the country dirty. He should rot in jail already.

You mean Buhari?

Geonigga:
This Akpabio lacks the charisma that should be possess by a senate president in fact what should one expect from him whose principal is a Chicago drug lord. I wept for this country called Nigeria.

What charisma do you have that Akpabio doesn't?

Bluntemperor:


So,you use Dollars for food,abi?
'Lazy Youths ', what have been your Contributions to the Nigerian State?
Senator Akpabio just stated the Truth - on how your Emiefiele-got Nigerians into a Big Mess-
1-with Exchange Rate from 174 to 734 by the time he was bundled out of the Office!
2- spent over N1tr on Anchor Borrowers Money unaccounted for! This Country supposed to be Food Basket of Africa!
3-Fooled NIGERIANS into believing that Cashless Naira Nonsense Policy-,was good but was at the same time Champaning with his Banners and Vehicles all over Nigeria and was supported by LP, PDP, and NLC Leaders, thinking is the best way to win an election! Meanwhile,he did that to cover his Fraudulent Manipulations of a supposed Neutral Entity like a CBN,but here, you are still dancing,when the Music had stopped since !
3- Many of the Youths are so gaulibles and falls to high grades Deception by Politicians, that they don't have a discerning eyes to know- the Bad,the Good and the Urgly when Choices are presented before them!
4-Here is a CBN GOVERNOR that should be busy- on taming Inflations, Unemployment of the 30% Youths,ensuring the Stability of the Naira with strong Micro and Macro Economic Development Growth and he lost the magic wand since he was pocketed by Buhari, Cousins and his vodoo Cabals in Aso rock them!
If you feel pained for your election loss and NBILLIONS that have been lost to ,the crèche called Emefiele- because he is from your State and tribe ,you are free to return my Money that was in transit -since the Cashless Naira Policy between the Bank and POS.
So you don't know that there is no 2- ways in Forex- you are either a Producing Nation or you borrow to live!
Since February, Emiefiele CBN -could not pay for the Letters of Credit( LC)- to Nigeria Exporters abroad,afterall,Tinubu came in May,29 #June 2023 and you want to perform a miracle for Naira rebound!
Nonsensical People everywhere!

Ignorance is a disease. Fix corruption and see economy grows with more dollars coming in but how can Mr corruption fight corruption.
Do we have capacity to produce medical kits , devices and equipments including some drugs. Pray that none of your relatives have serious health issues, medical bills would make you commit suicide.
Your mentor destroyed naira in few months of coming to power and you are vomiting meconium.

shinealight:


Why are we talking of Dollar all the time as if it’s the Nigerian official currency?
Domesticate your economy by consuming what you produce within the country and live within your means….then Dollar can be whatever it likes. Afterall we’re living in Nigeria not America.
Do the Chinese and Indians care so much about the Dollar exchange rate? By and large, they make do with what they produce, not relying on importation of basic stuff for their livelihood and sustenance.
Africa’s dependence on importation due to acquisition of foreign tastes and lifestyle is the bane of our economic progress and development. We’ll still be moaning about Dollar exchange rate in Year 2050 if we refuse to change our indoctrinated mindset!

What can we produce as a nation? Dey play. Fix oil theft and see economy improves with stable Naira.

cjudy:

Will never brag with you because I have a legit source I made my money and moreover I’m not with you in your shithole country

Yet you still come here to Nairaland to put mouth in wetin no concern you. Why can't you stay in the blogs of your shithole country where you will never be regarded as anything.