sircatherine45:


when there are professional technicians who can do it? wetin you dey spill, bros?

This is a good innovation!

No it doesn’t work that way

Cutehector:
Foreign currency counting machines have provisions to take note of serial numbers when counted in contrast to our local counting machines.

It is obvious that when CBN governor is making policies, he doesn't take note of the current realities on ground.

I was wondering how feasible this directive would be.
So if someone withdraws N100,000 in N200 naira denominations, the cashier would have to write all the serial numbers? Sounds silly except there is an automated and less crude and stressful way of doing that.

KosiGee:


I was wondering how feasible this directive would be.
So if someone withdraws N100,000 in N200 naira denominations, the cashier would have to write all the serial numbers? Sounds silly except there is an automated and less crude and stressful way of doing that.

The new directive is from the ATM max per day is#20000 of lower denominations
If you are going to withdraw in #100000's at the countered you will be charged and possibly most conveniently by given hiher denominations!
But for this new directive it means that the best solution is to change their machines and their problem is solved
Also it connotes that the naira must not be mutilated .if it is, the money is automatically rejected and that is wahala on its own

nlfpmod:


https://nairametrics.com/2022/12/16/banks-told-to-write-down-serial-number-of-new-naira-notes-during-withdrawal/?s=08

what's happening to black man sense! How many will they write down? Huh what kind of policy is this now!!!

Psady:
I think the job of taking down the serial number will be done in the inner room before it gets to the cashier, and Its going be just the first note on any bulk, since the currency is new, it most have been arranged in serial code from the apex bank. That will help the banks to carry out their activities swiftly in absence of the scanning machine. No sane being will have that time luxury to take down serial numbers of every cash withdrawed on daily basis.

Well, that's another angle. I was viewing it from the angle that the idea behind taking the numbers down in the first place might be to be able to tie it down to a customer, just in case they get the cash being hawked in the open just like it is already being alleged its being done.

Moh247:
Watching Emefiele speak on the new note policy.. I think the guy wants to treat some people's fvck up big time

He keeps check mating all means of naira abuse and laundering

Las Las

SexyBabe001:
Lol... Emefiele meant business this time... Politicians are in trouble.. No peace for the wicked... That means every naira will be tracked.. Only if these evil bankers don't circumvert the process

That is the main purpose of having serial numbers on those notes, if they are serious with it, it will curb corruption.

cayorday89:

That is the main purpose of having serial numbers on those notes, if they are serious with it, it will curb corruption.

Curbing corruption
Hmm!
I am thinking of the Auditor general of the federation who moved #109 billion from federation accounts to non state accounts
I don't think this cbn rule applies to such magnanimous and benevolent corruption at the center!

feranmi143:
Yo fish, serial number or no serial number, money that is ment to be stolen will be stolen, 80% of cbn workers are big SCAMMERS

Thieves

nlfpmod:


https://nairametrics.com/2022/12/16/banks-told-to-write-down-serial-number-of-new-naira-notes-during-withdrawal/?s=08

Take down serial numbers on Notes?

This is a joke.

Lol. A very wicked and stupid joke. Bank Operations Staffs, e pele ooo.

I can relate.

Viridis:
All these work on top small salary
Bankers go suffer tire

So true

SexyBabe001:


Lol... Only if you know... If it doesn't affect the politicians, why are summoning him at National Assembly and telling him to rescind the policy? With this now, it will be very hard to do vote buying... He wicked them so much that they can't withdraw more than 10m on a counter... The best option is transfer and transfer can be traced

How will National Assembly prove to u that they are working.

They need to show u that are also affected, make u believe we are together.

See ma this country bullion van enter person compound drop money.,…. Till this day, no one said nothing about it

Write down?
Including for ATM?

Viridis:
All these work on top small salary
Bankers go suffer tire

suffer how ? You think they're going to count it with hand? They will only keep count of the Last number and follow it serially.

How will they be able to track the money when the note will be passing through different persons before it get to bank.

Damseldammie:
All this to what end pls

A waste of valuable Man hour.

Write serial number of Bank Notes?

It is a Joke joor.

oladipuposadeeq:
I think they don't want to encourage kidnapping but another thing is this no be their family members they go kill

Na turn by turn, small_small e go reach who dem know, somehow_somehow.
karma is a Bastard!

feranmi143:
Yo fish, serial number or no serial number, money that is ment to be stolen will be stolen, 80% of cbn workers are big SCAMMERS

Negativity don Finnish your life. Enemies of progress

SexyBabe001:
Lol... Emefiele meant business this time... Politicians are in trouble.. No peace for the wicked... That means every naira will be tracked.. Only if these evil bankers don't circumvert the process

I wonder why their is always so much hate for bankers? Whereas it is only things that involve banks and banker's that work seamlessly in this country.
Look at the issue of BVN. Not minding the fact that Nigerians literally refused to enroll for BVN before the 1st deadline, banks/banker's worked tirelessly to make sure Nigerians are captured, despite the inadequacies of the side of government to handle high number of data being captured by banks.
Bankers saw hell during BVN capturing, yet no bank or banker was accused of extirting money from people to capture them for BVN. Can we say same for NIN?
And you guys seam to always forget that banks/banker's have their primary duties other than all these unnecessary workload/pressures CBN is putting on them with no incentives whatsoever.
It is very sad that we do not appreciate Nigerian banks/banker's.

May God bless Nigerian banks and banker's.

nlfpmod:


https://nairametrics.com/2022/12/16/banks-told-to-write-down-serial-number-of-new-naira-notes-during-withdrawal/?s=08

This can only happen for money that had not gone into circulation yet.

Once the money circulates and returns to any of the banks, you cannot start to begin to record them again.

Unless there are hidden machine-readable codes on the individual notes, which also distinguishes these notes individually too, so that, some specially-designed machines can always quickly read these codes on the notes individually as they are being counted by these special money-counting machines, and thus tell the circulation history of the notes differently,, and also, which ones are fake notes that were not issued by the central bank.

baralatie:

Curbing corruption
Hmm!
I am thinking of the Auditor general of the federation who moved #109 billion from federation accounts to non state accounts
I don't think this cbn rule applies to such magnanimous and benevolent corruption at the center!

We all know how it will play out, reason why I said if they are serious about it.. Same thing for the limited cash disposal and e-transfer. We can only be hopeful it turns out good for the nation at large.

Only that for a start, we will have lesser of the small corruptions going on like governments officials/civil servants collecting by force pocket money for services they are being paid for, for Ogas at the top, time will tell.

GreyLaw:
I don't know what the CBN is trying to do but time will reveal it all.

Everything will be back to normal after the Elections. Buhari wants to prevent vote buying

olaeffect:


I wonder why their is always so much hate for bankers? Whereas it is only things that involve banks and banker's that work seamlessly in this country.
Look at the issue of BVN. Not minding the fact that Nigerians literally refused to enroll for BVN before the 1st deadline, banks/banker's worked tirelessly to make sure Nigerians are captured, despite the inadequacies of the side of government to handle high number of data being captured by banks.
Bankers saw hell during BVN capturing, yet no bank or banker was accused of extirting money from people to capture them for BVN. Can we say same for NIN?
And you guys seam to always forget that banks/banker's have their primary duties other than all these unnecessary workload/pressures CBN is putting on them with no incentives whatsoever.
It is very sad that we do not appreciate Nigerian banks/banker's.

May God bless Nigerian banks and banker's.

You are right on what you mentioned above and how tirelessly these folks work round the clock, I agree 100% but we still need to be objective here, who are those helping these politicians to launder and bypass the process? Who are those helping them to transfer stolen monies? Will you proof to me that they are not aware of these looting? The bank managers that receive and send bullion vans to their homes are what again?

We may relieve the entry staffs cos they know nothing of these evil doings but their ogas and those who are old staffers know the truth

sircatherine45:
costs $700.

buy it with your money and import it.. Then recalculate.

Hmmm

who will be writing the ones withdrawn at the ATM

Theknowledge:
E don finish for Tinubu kpatakpata be that

how. No be to close account?

othermen:
The money laundered is usually proceed of crime. If you have a business that involves the movement of high volumes of cash, it's pretty easy to navigate all of this nonsense. The greatest launderers are the owners of our financial institutions.

This is probably pointless. but is it?? and what would I rather they do?? Will the cash be tracked?? Have they thought such policies as they have, might likely increase the hoarding of cash? but all the way, if it will curb corruption, Great actually!!!

or

Someone has gotten the license to import new note-counting machines...

nothing can curb corruption

feranmi143:
Yo fish, serial number or no serial number, money that is ment to be stolen will be stolen, 80% of cbn workers are big SCAMMERS

You say 80%? You still get trust for this CBN sha

feranmi143:
Yo fish, serial number or no serial number, money that is ment to be stolen will be stolen, 80% of cbn workers are big SCAMMERS

How,do they print money.

ekammaita:
who will be writing the ones withdrawn at the ATM

They write it down before loading the ATM machine.

CBN governor wen mumu.