dboyoji:

If you have money stored at home for the election, you would have to take to the bank to change it before the election.

i know n wat will that solve? If i get billions for house u think I will carry all at once to the bank ot spread it amongst others to deposit.


Look if u all saying this is the reason for change of currency its a stupid idea n very much waste of money for reprinting this party is daft

immortalcrown:
The new design is a strategy to reduce the rate at which bullion van master will use hoarded cash to rig election against Tiku.

The design is not to favour the economy. It is just a political war between Agbado and Tiku.

when they hv plenty of dollars to trow ard? Men dat were paying in dollars during primaries

immortalcrown:
The economy and your welfare are never part of their considerations. Know this and stop hoping on them.

I wish Nigeria will just wake up and chase out all these politicians out of the country before they destroy everything.
So this is the insecurity or inflation they should battle first?

buh will change of currency design two months to election stop this political bigwigs from converting their hard currencies to the new naira notes?

Moh247:



Money distributed to party agents are in Naira even party stalwarts and loyalist get naira only the top shot gets dollars

TUBLEZ:
when they hv plenty of dollars to trow ard? Men dat were paying in dollars during primaries

Dollar is not suitable to bribe most of the voters that are above the age of 60. Dollar is not suitable to bribe underage voters. Not every youth will want to be paid in Dollar. Thugs need the currency they will spend immediately.

slimmoney:
buh will change of currency design two months to election stop this political bigwigs from converting their hard currencies to the new naira notes?

Maybe through black market... All BDC has been issued a CBN directives to report all exchange since 2018

longetivity:
Does this nonsense looks like its going to add any benefits to Nigerians

Please NAIJA YOUTHS read in between the lines, why do you think GEJ changed it? They duplicated the plates and we're printing it and selling it at outrageous prizes and depreciating the value. Same is happening now, Them get the plates.

general111:
Calm down, you dont sit in your house and demand that people should be sacked.
You should be asking the cbn chief to explain to nigerians the benefit of what he is trying to do.

Truly there will be benefits but it only for the cabal in CBN

xipacec672:
i know n wat will that solve? If i get billions for house u think I will carry all at once to the bank ot spread it amongst others to deposit.


Look if u all saying this is the reason for change of currency its a stupid idea n very much waste of money for reprinting this party is daft

I agree with you on spreading deposit as a strategy but it is still a challenge. I have thought about the reason for this, only this comes to my mind.

This policy is guided more by political expediency than monetary necessity...

Not only is the time frame too short, it seems designed to favour the ruling party & give them an edge in the forthcoming elections.

Also, the short time frame will create unnecessary panic. The new notes are not ready, but by end of November 2022, most small & medium businesses will start rejecting the present notes.

People will start spending precious manpower hours in banks trying to make deposits....

immortalcrown:
The new design is a strategy to reduce the rate at which bullion van master will use hoarded cash to rig election against Tiku.

The design is not to favour the economy. It is just a political war between Agbado and Tiku.

How is that possible?

DrAkpamudehe:

How is that possible?

I am not surprised that you ask the question. Majority does not know how the game is played. That is why the cabals always succeed.

olas24u:


Tinubu never governed any part of the east.it is not your state money or Nigeria money.How ever redesigning the naira ,maybe because of information you don't have ,or trying to encourage electronic naira.or redesigning like the Ghanians did in time past.

Pls shut up... Igbos generated most of the money he is stealing from Lagos. Ungrateful lots

immortalcrown:
The new design is a strategy to reduce the rate at which bullion van master will use hoarded cash to rig election against Tiku.

The design is not to favour the economy. It is just a political war between Agbado and Tiku.

I am not as financially buoyant as I want but even at that,I stopped saving in naira 2 years ago.
Every wise businessman is doing the same.
What makes u think that politicians still hoard cash in Naira?
7.4 million naira will comfortably fit nicely in a pocket when changed in USD.

CBN are just chasing shadows to deceive Nigerians.

oshozondii:


https://m.facebook.com/story.php?story_fbid=pfbid0PLpJpYEYzfftEKogsb9gtKxtJYNnMsQgVKeMD8jVYXGeYmaELAvQL1kQLBV6wVfyl&id=803267836

Initially i wanted to agree with Sowore for once but when i recall a residence that had so much physical cash in a room about 2019 i may just agree.

They were in denominations of N500 and N1000 motes.

Its just that the CBN governor has lost the trust of the populace.

Benoxvals:


I am not as financially buoyant as I want but even at that,I stopped saving in naira 2 years ago.
Every wise businessman is doing the same.
What makes u think that politicians still hoard cash in Naira?
7.4 million naira will comfortably fit nicely in a pocket when changed in USD.

CBN are just chasing shadows to deceive Nigerians.

This your reasoning is why politicians usually finish the game before you realize it. Even in the next 10 years, gullible Nigerians will collect Naira for votes. Politicians know it but you think you are wiser than them.

general111:
Calm down, you dont sit in your house and demand that people should be sacked.
You should be asking the cbn chief to explain to nigerians the benefit of what he is trying to do.

I heard one of his reasons and it might be good or very bad.

Basically to reduce money incirclulation or being accumulated outside cbn. Basically cash hoarding.

longetivity:
Does this nonsense looks like its going to add any benefits to Nigerians

That ? Should be directly send to Godwin Emiefile.
He owe us an explanation.
Doesnt He?

longetivity:
Does this nonsense looks like its going to add any benefits to Nigerians

Sure.

Once the CBN takes in the old notes it will have an idea of money supply M1 and M2. With this it can address inflation using monetary policies. Its economics 101. Tightening money supply will ste inflation and perhaps in the very short term see a small rise in naira v. USD.

It is a good policy if it is well implemented. Nigeria tends to be good at implementing one off big programs. Its the recurrent programs we have problems with.

Don't let despair disturb your sense of logic.

Best news i have heard in a longtime in naija,wahalla for politicians way store money!!!!!

Smart move to checkmate this election,inflationand devaluation. EFCC on a top notch job will make much arrest with this December rush, cos most stashed funds will be quarry into banks to avoid been cut in this web.

Best news,wahala for politicians way store money!!

immortalcrown:
This your reasoning is why politicians usually finish the game before you realize it. Even in the next 10 years, gullible Nigerians will collect Naira for votes. Politicians know it but you think you are wiser than them.

Wise man.
Do your thing.
You think naira was shared in the primaries??
Make I no talk too much cos ur wisdom supersedes ours.

Redesigning naira by Nigerian government is a stupid thing to do when people are losing trust in it already.
Very unnecessary.

Very soon 100 will be the least worth of naira.

It is obvious those nylon designed to impress the world will soon go out of circulation.

Emefiele is trying ro run central bank like a sole-proprietor.

I wonder why the government don't operate on referendum.

Needless to say, Nigerians system of Government is highly tyrannical.

We are losing out of modern civilization already.

DrAkpamudehe:


Pls shut up... Igbos generated most of the money he is stealing from Lagos. Ungrateful lots

Lies , continue to brain wash your people and selves.bloody lies

The money had already been printed, they are just letting the public know what they had decided since long time ago

Benoxvals:


Wise man.
Do your thing.
You think naira was shared in the primaries??
Make I no talk too much cos ur wisdom supersedes ours.

Wise man, the voters in primaries do not make up to 10% of voters in the main election. Same strategy doesn't work for primary election and main election.

Sack him because he is proposing a new design or because of the current value of Naira, which one?

longetivity:
Misplaced priorities

It is a good move security wise. All the ransom collected by kidnappers will become useless.

I called a money changer friend of mine in cotonou the guy said Cefas is stronger than Naira now.
₦1000 is now 996Cefas.

Car sellers can't go to Cotonou to buy anymore.

Austinmetro:
Best news i have heard in a longtime in naija,wahalla for politicians way store money!!!!!

What about kidnappers and their ransom? They will all be affected.

APC change, Nigeria people want change so change is here