CBN Imposes Penalty On Banks For Mutilated Notes - Business (2) - Nairaland
Nairaland Forum / Nairaland / General / Business / CBN Imposes Penalty On Banks For Mutilated Notes (13548 Views)
CBN Imposes Limit On Banks’ Foreign Currency Exposure / Banks Push Out Dirty, Mutilated Notes As New Naira Scarcity Persists / CBN Asks Banks To Return All Mutilated Notes Between June 3 & September 2 (2) (3) (4)
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| Re: CBN Imposes Penalty On Banks For Mutilated Notes by crazygod(m): 8:03am On Apr 04, 2022 |
I really don't think this CBN governor is educated. This new policy is rubbish. Doesn't make sense at all. 2 Likes 1 Share |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by criuze(m): 8:04am On Apr 04, 2022 |
CBN dey reject damaged money Who wan collect wam |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by oshaosha2014(m): 8:05am On Apr 04, 2022 |
Are the apex bank are they not supposed to be the one clearing this kind of naira notes from circulation? Why is everything about this country supposed to be upsidedown. |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by justli: 8:07am On Apr 04, 2022 |
this is not refering to torn notes, but notes of the the same denomunation composed of different parts. like, joining different 1000 naira turn notes to make a whole one 5 Likes |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by ugwumichael(m): 8:07am On Apr 04, 2022 |
What they mean is attaching two different currencies of same denomination (e.g 2 different #200 notes of which we all know has different numbers that are torn and then gumming them together as one) this automatically makes it a counterfeit as the single currency now has 2 different numbers. The reporter should have at least bolded the reason which is Composed banknotes are mutilated currency notes comprising several parts of different banknotes of the same denomination. The parts of such currency notes are usually put together with the intention of receiving value. Make we da read with understanding abeg, everything nor be fight 3 Likes |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Prozico22(m): 8:07am On Apr 04, 2022 |
Now CBN don start tie tie money |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by edmaraja: 8:07am On Apr 04, 2022 |
So if CBN won't collect the mutilated notes, what are the banks supposed to do with it? You made it a crime for banks to reject legal tenders yet you are rejecting the same legal tenders so what will they do with it after collecting it? Dumb CBN official |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by UltimateCSH(m): 8:07am On Apr 04, 2022 |
The currency get value before  Seriously, if I have 20 dollar and 1000 naira notes. I'll treat the 20 dollar note with respect and care than I would with the 1000 naira because of the value it command. Misplaced failed state is talking about mutilation as if it will improve the situation of the country |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Naijanascam: 8:08am On Apr 04, 2022 |
Always Making laws without human face........ Apex Banks worldwide truly stand's the it's citizens but here is the opposite |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Onyiiobi7735(m): 8:09am On Apr 04, 2022 |
Ever since the human catastrophe came into power,everything has turned upside down.It's only God that's holding this country. |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Nobody: 8:09am On Apr 04, 2022 |
Emfiele is the most foolish entity to ever head the CBN! In all the years he's held sway, most of his policies have hugely contributed to the downward spiral of our economy. For some reason, the bald headed irritant makes anti-people policies as if he's an unofficial branch of the APC which is bent on killing the Nigerian populace. So they're expecting worn out notes to remain in the hands of the masses when they don't promptly phase out old notes?! Even to find mints in banking halls is an herculean task these days, to the point you have to buy a bundle of 100 naira mints for 12 or 13K. For Igbos clamoring for Presidency, people like Emefiele are the prime reasons most Nigerians find it hard to trust your top politicians with the Presidency seat. |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Karemarealty288(m): 8:09am On Apr 04, 2022 |
Ordinary Nigerians will bear the burnt....Banks will stop collecting mutilated monies from depositors, Gas stations will also stop collecting such money and watch as transporters will implement the policy faster than central bank. 1 Like |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Nobody: 8:09am On Apr 04, 2022 |
slawormiir:Welcome back ma nigggarr, where have you been all this while ? 1 Like 1 Share |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by ayindejimmy(m): 8:11am On Apr 04, 2022 |
ikorodureporta: They put it in Atm. Let's see how someone will reject it then 1 Like |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Skillsnigeria: 8:14am On Apr 04, 2022 |
Ok |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by CharlotteFlair: 8:15am On Apr 04, 2022 |
Sergio101:You are a woman using a male moniker  |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by CharlotteFlair: 8:17am On Apr 04, 2022 |
I guess most people commenting didn't read the article It said composed naira notes not torn naira notes. 1 Like |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by ikorodureporta: 8:17am On Apr 04, 2022 |
ugwumichael: Look, how many people will understand that language... It is when a torn note needs to be repaired that you patch it with other types.. so it's the same story |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Kingpin1000: 8:18am On Apr 04, 2022 |
slawormiir:Oga welcome, we miss you.. But it is the masses that will suffer, just imagine say your last 1k tear. 1 Like 1 Share |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by CSTRR: 8:20am On Apr 04, 2022 |
What is wrong with this emefiele? Does he know the repercussions of this? If banks no longer collect torn notes,it would lead to a massive hunt for new notes by Nigerians. Many Nigerians would start rejecting currency on a massive scale. What is going on in this country? Why is everything so backward under this govt? |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by israelmao(m): 8:20am On Apr 04, 2022 |
Banks are crooks they give out multilated notes which ought to have been destroyed to customers as a means of managing their cash while mint are sold to racketeers or given to special customers. |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Kingpin1000: 8:21am On Apr 04, 2022 |
justli:All this APC miscreants, you want to defend everything.. what is the meaning of mutilated ? Olodo 1 Like |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by Sergio101(m): 8:22am On Apr 04, 2022 |
CharlotteFlair: Come to my side dear. Come and check. At least after 1hr of nonstop tatatatata..........na you go run commot. Imagine calling Sergio a female |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by lexy2014: 8:22am On Apr 04, 2022 |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by kayperry: 8:23am On Apr 04, 2022 |
Ezemarcel: Exactly my thoughts, sometimes i wonder where these people graduate from, its the duty of apex bank to absorb old & mutilated funds and ensure they don't get back into circulation by shredding those notes while the commercial banks are tools to absorb such notes within a given period. All they ever think of is how to shift liability/burden to the masses and the most annoying part is nigerians are keeping quiet. 1 Like |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by justli: 8:24am On Apr 04, 2022 |
Kingpin1000: Did you even read the peice before exposing your comprehension problem? So because you saw mutilated some where on the article, that's enough for you. Mentally lazy youth 1 Like |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by lagosrd: 8:25am On Apr 04, 2022 |
Foolish directive. All I can see is a society rejecting bad notes even before they go bad and there will be confusion everywhere. The market women and people will start rejecting dirty notes not to talk about mutilated notes. So where do you want commercial banks to take them to and where do you want the citizens to take them to? Trying to save money by all means and they will still use the same money foe election. Bankruptcy looming. |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by wolesmile(m): 8:26am On Apr 04, 2022 |
Sometimes, we need to read and understand what is being said properly before we comment. Almost all the comments I read here are off point. 2 Likes |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by justli: 8:28am On Apr 04, 2022 |
This is referring to composed bank notes and not just mutilated notes. The writer of this report is obviously clickbaiting readers with the title and people are too lazy to read a whole report. It's ok 2 Likes |
| Re: CBN Imposes Penalty On Banks For Mutilated Notes by ALFADOS(m): 8:30am On Apr 04, 2022 |
slawormiir:Nairaland Nigga is back,welcome niggarrrr 1 Like 1 Share |
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