The problem is that the new notes are not in circulation and people are refusing the old notes already for transactions. Emiefele should not strangle us biko.

https://www.youtube.com/watch?v=LfvbOdNZyE0

BubblingB:


I don't see how an extension after election helps the cause. It is indirectly valid to use the old naira during election and wait for the extension to swap the old for new so it defeats the purpose. So, in my opinion, there will be no extension. Its just a small sacrifice to pay for the good of the country.

Yes, but it's valid to make the new naira notes circulate more and with time, everyone will get it. Stop waking and pay the price for a credible election

Hope you get it. There's nothing wrong is stifling thing now so this election can be credible

SmartPolician:
How did an empty man like Godwin Emefiele rise to become the GMD of almighty Zenith Bank?

I guess it was through office politics that sacrificed competence on the altar of political sagacity

In all fairness though, this naira redesign policy remains the best thing he has done since he took over that office. The only challenge is poor implementation.

why not do it when he lost apc primary since June.
Emefiele is an idiotic pig

THE LEVEL OF CORRUPTION IN THE CBN CANT BE PHANTOM D NAIRA DESIGN WAS A TOTAL DISTRACTION TO NIGERIANS EMEFIELE IS THE MOST CORRUPT CBN GOVERNOR I HAVE EVER SEEN HE NEEDS TO BE ARRESTED

Workch:
see, I rarely use hard naira to purchase stuffs. I buy must of my stuffs from the mall or supermarket and guess what, things are even cheaper for me there.
I buy a bottle of Trophy without going home with the bottle in a bar for 400naira, I get it for 350 with the bottle at my supermarket. I pay online

I advice you start doing more of transfers, if you want to buy foodstuffs, 20k daily is more enough. That's about 600k monthly.

This election must be free and fair, no matter the price we have to pay

Think of how your kids will buy stuffs in school when there’s no money in circulation

Workch:
Even if he can get cash, he cannot get enough to buy enough votes.

The more stringent the system, the more difficult for him to mobilize cash, especially if the sitting president is against him. Every cash withdrawal is strictly monitored by CBN, bank managers cannot mess with a determined CBN

Does this particular CBN look determined ?

Bishop1monte:


Think of how your kids will buy stuffs in school when there’s no money in circulation

am I going to be giving my kids 20k daily?

Well, if that's the price I have to pay for 1month for my kids to get a better future, then it's worth it. This election must be credible.

I will buy stuffs for them from the mall, put it in their bags for them when they are going to school 😂
But you see this policy, it must stand

Minjim:


Does this particular CBN look determined ?

Well, Buhari looks determined. That's the most important thing

Parachoko:
I thought that guy have sense, but it seems he does not

He understands now... that is to say, e don receive sense now

Who tell you that the policy will not affect even the least presidential candidate?
Those you think it will affect mostly are already have their way out...the effect will be on we masses...it is already affecting my business and many businesses right now.
If you are dealing with a business that has to do with buying and selling at high demand you will understand what am talking about

SoftP:
Not minding the hardship this might cause, if it will put corrupt politicians on check & reduce vote buying, then most of us are willing to bear the trauma & consequences.

The joy of this whole drama is that Tinibu & his likes are already wailing, that’s a clear indication that corruption is gradually being suppressed.

OBI-DATTI FOR PRESIDENT 2023

fiizznation:
I don't know why you obidients or whatever you call yourselves don't think. How will this silly policy affect politicians that can get whatever amount they need from the banks? Politicians that have access to forex, etc. Isn't this policy affecting the poor masses already?

And is not like Obi is going to win anything. I don't think he will even win his state!

Don’t blame them, most of them are staying in the village and will come to nairaland and be saying trash, that’s why I prefer to support tinubu not because am a Yoruba but because there vision lack sight, all these politicians can get any amount they want from the bank, they know how to manoeuvres three way

Workch:
Yes, I will.

Buhari has really tried his best to make this credible. I hope you will accept it as well

Oh for sure I will.

But you do need to know that you should not believe everything you read. The idea that vote buying will be stopped by scarcity of new currency is simplistic. Most vote buying is done by cash transfer not in cash. Meanwhile the people that earn their money daily who might have voted their conscience will be the most vulnerable to political party offers.

In my opinion this currency exercise has zilch effect on vote buying. What you will see is NEFT cash transfers that vest money after polling station results have been released. We saw this in Osun and Ekiti.

If people do not defend their votes, their votes will not count.

Workch:
am I going to be giving my kids 20k daily?

Well, if that's the price I have to pay for 1month for my kids to get a better future, then it's worth it. This election must be credible.

I will buy stuffs for them from the mall, put it in their bags for them when they are going to school 😂
But you see this policy, it must stand

Correct, if traders will not upgrade and adapt then we use shopping malls. I just pity those in the rural areas.

wordbank:

Political scientist is not a financial expert
He is just talking trash.

There is what we call "Political Economy" in Pol Science. The man in question is a Professor trained in the days of yore by competent hands. He has analysed the situation well.

Tinubu people's news paper. Why is Tinubu in panic mode? He made Buhari president, now let him make himself president. The statement that he made Buhari president is the single reason he will loose the election. Fulani people are very vindictive

Bishop1monte:




You and these elections matter, if you have kids how will your kids buy things in school or you will open account for them so they make transfer to buy ice cream, biscuits and sweets. We should talk with sense. Advanced countries are still using cash

They don't need to open accounts. I will used my bank app and debit card to do it for them.

Besides, there's going to be naira in circulation, but the new notes.

cashless economy is a goal......no going back!

Workch:
It will stop vote buying greatly. Where do you want to get the cash to bribe people on election day if there's a restriction.

Abi you wan dey do transfer to poor Pele for rural areas wey no get bank app? 😂

It will make the election very credible

Let's take APC as a case study, Shettima was the head of Zenith bank in the whole North East before he joined politics, so you think he doesn't have core loyalist across the states that will bring new notes for him?
Someone like Tinubu has over 1000 loyalist who are top share holders in banks and multinationals do you think these guys wouldn't have the new note?

Do you really think if Atiku or okowa or Obi need the new notes they will go to ATM and queue??

Obi has a history with Fidelity bank do you think if Obi wants to change 100 million old notes that the CEO of fidelity Bank wouldn't bring it to his house?.

Now that said, do you think those politicians who want to buy votes don't have access to dollars??

This country we just they play.
My conclusion in these whole saga

1. APC through Buhari is either trying to make sure Tinubu wins but make it look like Buhari block every means, hence Tinubu won because he had more followers
Or
2. Emefiele is just looking for ways for Nigerian to forget about his whole mismanagement of the CBN, he understands Nigerians usually have selective amnesia and also anyone who wins 2023 and attempts to remove him will be seen as he is being victimised.
Or
3. Buhari and Emefiele are looking for ways to cover up all the cabal deals in CBN so the next government wouldn't be able to trace a number of their deals.

In all these, Emefiele is not fighting for any masses, know this and know Peace, he is not fighting against any vote buying, know this and know peace.

Workch:
Well, Buhari looks determined. That's the most important thing

It's too late to be determined now.

So far everyone complaining is a northerner. Everyoen claiming to have access to secret information is a northerner.

From Zainab Ahmad to that house of reps guy to this one now.

We are watching.

fiizznation:
I don't know why you obidients or whatever you call yourselves don't think. How will this silly policy affect politicians that can get whatever amount they need from the banks? Politicians that have access to forex, etc. Isn't this policy affecting the poor masses already?

And is not like Obi is going to win anything. I don't think he will even win his state!

There are also withdrawal limits. So it's not business as usual with vote buying politicians.

Obidatti is not the cause of your misfortune.

Minjim:


It's too late to be determined now.

Well, if he doesn't relax the restrictions, its sure not late. Tinubu will be affected

Gr8amechi:

Let's take APC as a case study, Shettima was the head of Zenith bank in the whole North East before he joined politics, so you think he doesn't have core loyalist across the states that will bring new notes for him?
Someone like Tinubu has over 1000 loyalist who are top share holders in banks and multinationals do you think these guys wouldn't have the new note?

Do you really think if Atiku or okowa or Obi need the new notes they will go to ATM and queue??

Obi has a history with Fidelity bank do you think if Obi wants to change 100 million old notes that the CEO of fidelity Bank wouldn't bring it to his house?.

Now that said, do you think those politicians who want to buy votes don't have access to dollars??

This country we just they play.
My conclusion in these whole saga

1. APC through Buhari is either trying to make sure Tinubu wins but make it look like Buhari block every means, hence Tinubu won because he had more followers
Or
2. Emefiele is just looking for ways for Nigerian to forget about his whole mismanagement of the CBN, he understands Nigerians usually have selective amnesia and also anyone who wins 2023 and attempts to remove him will be seen as he is being victimised.
Or
3. Buhari and Emefiele are looking for ways to cover up all the cabal deals in CBN so the next government wouldn't be able to trace a number of their deals.

In all these, Emefiele is not fighting for any masses, know this and know Peace, he is not fighting against any vote buying, know this and know peace.

The issues you raised do jot make sense if CBN, Buhari and Emefieli can eventually trace cash withdrawal, which obviously they can.

BubblingB:


Correct, if traders will not upgrade and adapt then we use shopping malls. I just pity those in the rural areas.

do they have a choice?
They have to else they will die of hunger.
Stop acting like this Wil persist forever, it will all be gone after election slowly. Calm down

BreconHills:


Oh for sure I will.

But you do need to know that you should not believe everything you read. The idea that vote buying will be stopped by scarcity of new currency is simplistic. Most vote buying is done by cash transfer not in cash. Meanwhile the people that earn their money daily who might have voted their conscience will be the most vulnerable to political party offers.

In my opinion this currency exercise has zilch effect on vote buying. What you will see is NEFT cash transfers that vest money after polling station results have been released. We saw this in Osun and Ekiti.

If people do not defend their votes, their votes will not count.

This policy will go a long way to reduce vote buying, I need you to acknowledge that obvious fact.

ogatboy:
Tinubu people's news paper. Why is Tinubu in panic mode? He made Buhari president, now let him make himself president. The statement that he made Buhari president is the single reason he will loose the election. Fulani people are very vindictive

I stayed in the north, believe me there is a serious political war between Fulani and Hausas, Kanuris and hausa will prefer to go for tinubu than Atiku which is a Fulani man because all these bandits are fulanis

Lukuluku69:


And you think the Igbo Market women selling Ugu leaves, crayfish and panla ALL have Bank Accounts and ATM Cards?

CBN messed up with the Guidelines and implementation. Simple.

To change Naira Notes is not the issue but the implementations are.

They don't, but they are not as obnoxious and loud like their yoruba counterparts. Is like yoruba language is best heard with shouts, noise and exclamations

SoftP:
Not minding the hardship this might cause, if it will put corrupt politicians on check & reduce vote buying, then most of us are willing to bear the trauma & consequences.

The joy of this whole drama is that Tinibu & his likes are already wailing, that’s a clear indication that corruption is gradually being suppressed.

OBI-DATTI FOR PRESIDENT 2023

so because of election our economy should crumble, go to the market and see the chaos,they're not collecting the old currency anymore. I was supporting the cbn till I started seeing the implications. Using 45days to change the currency of a big country like Nigeria is dumb.as for those who think it will affect the politicians keep dreaming. This guys have dollars stacked up in tens of millions. So far its not dollars being changed it doesn't affect them. Will lagos pay alpha beta with old currency next week for January work?we're all just allowing govt punish ordinary Nigerians by taking advantage of our silly sentiments honestly

fiizznation:
I don't know why you obidients or whatever you call yourselves don't think. How will this silly policy affect politicians that can get whatever amount they need from the banks? Politicians that have access to forex, etc. Isn't this policy affecting the poor masses already?

And is not like Obi is going to win anything. I don't think he will even win his state!

Get money from which bank?? Banks don’t have the new notes and the ones that have it, got the money in very limited supply.

Unless you’re going to tell me politicians are going to hoard trillions of naira and suddenly circulate it on election

Seun:
A political scientist named Jibrin Ibrahim has exposed the naira redesign policy for what it is - a complete farce. According to him, everyone in the CBN, banks, and federal govt knows that it won't work because the mint lacks the capacity to print sufficient notes. It is an opportunity for CBN insiders to make a lot of money while appearing to fight corruption. The financial industry is playing along to avoid CBN sanctions.

https://www.premiumtimesng.com/opinion/575500-policy-making-as-make-belief-by-jibrin-ibrahim.html

Rubbish , go and deposit your old notes and do online transfers until the new is available or keep them collections

43Ronin:

They don't, but they are not as obnoxious and loud like their yoruba counterparts. Is like yoruba language is best heard with shouts, noise and exclamations

LoL

Yoruba language is not best heard with shouts and noise but we do a lot of exclamations! Lol

I bet if we change the location, the same scenario will play out with the common folks.

I worked as a Banker at Aba once (Three weeks) and spent well over 2 years in Kano and Kaduna, the issues you highlighted is the same all over.