The worst CBN Governor in Nigeria's history. I don't blame him I blame APC.

Beautiful!!!. Buhari has scored another major breakthrough against[b] corruption and TERRORISM FINANCING [/b]. Buhari is indeed a dogged fighter. Kudos my President.
All the monies starched in different warehouses are now a big waste. EFCC will be on the lookout in the banks.

Kobicove:


This is exactly the plan; they want people hoarding cash to bring it out by force and put them in banks

JoshTim:


Na you be mumu i swear. Have you ever sat down and ask yourself reasons why central bank withdraw and introduce new currencies. And this is a good time to do it because of GENERAL ELECTION. Let me just burst your bubbles. There are some persons that have stolen money meant for public. They park this monies and starsh every where including buildings, mansions, toilet and undergrounds. These persons have declared that they don't have much asset where they do but it's I'll gotten weath so they cannot declare it. This can be use to fight terrorism and curb all these fulani herds men sponsorship.

Give your self brain or ask questions before you open your mouth to talk in public.

They must think people who are smart enough to have dollars to hoard are not wise enough to know to hoard it in dollars!

Techhybeam:
I have been wondering why dollar has gained more value rapidly, so our politicians have gotten the info before hand.
They have been changing their stored naira to hard currency to avoid going to bank with trailers to change their old naira notes.

Best comment so far

PlayMaker14:
Still doesn't change the fact that the Naira is completely useless to the Dollar under this moroniic administration.


“Goat na Goat, if you like wear am Gucci go London, na still Goat.”

Give yourself brain, this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

You just went to school for nothing. You should have asked questions.

Earthquakes:
People don't have food to eat but you are wasting money to print new currency instead of creating jobs.
I know it's just a way to steal money through printing contract.

By the way, I still have upto 30k with me here in abroad, the one I share remain beggars they employed as staff at the airport, what will I now do??
Was hoping I would use it to get a taxi anytime am coming back to Nigeria

Olodo

Give yourself brain, this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

You just went to school for nothing. You should have asked questions.

Promoter2:
This is no where close to the major financial issues this country is facing today. Why is Emefiele still CBN Governor?

I weep for Nigeria.

Olodo....now una go dey cry say government no do anything about fighting terror.
Give yourself brain, this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

You just went to school for nothing. You should have asked questions.

Brendaniel:
Nigeria wasted money conducting the 2015 election that produced Buhari, wasted resources to maintain him as president, wasted lives and properties through his nepotism and inefficiency , wasted time having him as president, wasted resources on irrelevant issues, each time I see Buhari or think about him, waste is what always come up, Just like I said many years ago that the only good thing Tinubu did for Lagos throughout his 8 years was bringing Fashola(I was in University when I said this).

The only good thing Buhari can do now for Nigerians is to ensure Peter Obi wins - If not his name will be synonymous to shame

Oga, no be everything be gragra. Just shut up

Give yourself brain, this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

You just went to school for nothing. You should have asked questions.

etcme:
Please ooooo, I am not an Economics but I would want someone to explain to me in a layman's term the importance of this Currency Re-design in this present Nigeria that our economy is dancing skelewu.

Isn't this a misplaced priority as we have other things to tackle in the nation?

this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

Hope you understand

franchasofficia:
This man and APC keep destroying the little confidence Nigerians have in Naira. This is wrong timing as it will further put fear in Nigerians and they will start rushing dollars to save their money which will further cause dollar scarcity and more Naira inflation.



Emefiele and APC really swore to destroy Nigeria before Buhari hands over, na wa oh

You are the one that is not knowledgeable. Your education is a waste

Give yourself brain, this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

You just went to school for nothing. You should have asked questions.

PoliteActivist:




They must think people who are smart enough to have dollars to hoard are not wise enough to know to hoard it in dollars!

Even bandits that collected 100m cash?

JoshTim:


Oga, no be everything be gragra. Just shut up

Give yourself brain, this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

You just went to school for nothing. You should have asked questions.

So you cannot make your point without insults and you want to prove to me that you went to school for something that did not teach you how to talk without insults...

How possible will that be, to recall old currency from circulation within one month after introduction of new note in December, pls, do not attempt to bring forth confusion in a confused society....My candid opinion

Brendaniel:


So you cannot make your point without insults and you want to prove to me that you went to school for something that did not teach you how to talk without insults...

Sorry o.

Meet you up there,.......

kutashi:



And confirmed! You're a goat! Do you know what his trying to do? It is one of ways to address the issue you raised!

School! You won't go! Only to come here, demonstrating your stupidity!
Dindinrin!

Don't mistake me for your daddy abeg.

if not that nigerians are corrupt, this could have helped... banks will still change the money illegally for politicians..

JoshTim:


Give yourself brain, this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

You just went to school for nothing. You should have asked questions.

Doctorate degree holder, you that went to school for something, you still end up becoming a pauper....

Weldone.

opius:
The most corrupt CBN Governor Nigeria ever had...

The " most corrupt" is an understatement. No adjective can describe the man.

I believe CBN want to frustrate POS business, this is one of the leading means for the youths.

emmy4real94:
if not that nigerians are corrupt, this could have helped... banks will still change the money illegally for politicians..

It is even time for them to hammer.
A new and effectual.door has opened.

The thief that comes up with the idea knows this.

Artbydris:
Good.

is there anything good in there?, Does it change the value of the currency to favour the common man?

This is not going to stop shishi, trust me looters knows better

Mubby4luv:
They are in Dollars trust me. That's one reason why we ve the Dollar problem and it won't go below the Naira because most of this politicians stock it and run private bureau de change. This so called CBN governor is the worst. Despite his failure, they couldn't remove him because he is their Dollar ATM

I suspect this is a move to compel private money bags to bring out naira notes stocked in private vaults and used to speculate in the black FX market.

If that assumption is correct, this will prove difficult for people trying to stay off CBN radar. I expect to see heavy cash transactions in real estate purchase, birthday cash gift through celebrity fronts, big money splash in clubs, heavy naira spray in parties and so on. All these in counter moves to continue to conceal identity of the real cash owners.

Is it redesigned notes

Or redenominated notes ?

Damn now is a good time to invest.
Someone give me some ideas

fergie001:

https://www.youtube.com/watch?v=oQVb7NRGJb8





Previous Thread:
https://www.nairaland.com/7402756/cbn-redesigns-new-naira-notes#117892566

How does that help to stimulate the economy positively?

Mrkumareze:


It's a political move attached to economical move.
The immediate impact is on our politicians who has gathered billions in their houses for 2023 election.

But APC buys votes just like PDP. Unless they'd give APC members the new notes while depriving PDP of those notes. But how would they know who PDP are? I'm thinking its more about the economy than vote-buying. But your angle makes a lot of sense.

JoshTim:


Olodo

Give yourself brain, this is a monetary strategy to fight all sort of crimes, terrorism, corruption, money laundering, etc.

You just went to school for nothing. You should have asked questions.

You seem to be the spokesperson for the CBN but you can try passing your points without being insultive. What happens to monies that are not mopped up after 31st of January due to unavoidable reasons. We all know that we don't meet deadlines in Nigeria. And for example, people outside Nigeria having the currency, what happens when/if they travel to Nigeria after January 31?

abah52:


I think this will help checkmate vote buying in the coming election. The deadline of 31st January 2023 makes it difficult for the vote riggers to mobilise cash in the new currency enough to buy votes across the entire polling units in the country.

I think the is good for the election. Am not sure of the economic impact though.

I'm thinking APC buys votes as much as PDP does. So this would only work if CBN issues the new notes to APC members but deprives PDP of those same notes. But I doubt if the old notes will be phased out by the Januaury deadline. We all know it's impossible to change a country's note in one month. Besides, PDP can always get the new notes if they want. Like APC, they have their people in the CBN, government MDAs, and in the banks too.

RepoMan007:
probably they
have reconsidered the huge cost of printing lower denominations and want to debase.

I doubt that. Debasing would affect all currencies and not just the lower ones. A lot of people have been talking about APC trying to counter vote-buying, particularly by PDP. That could be it.