Minjim:


You lacked sense. It pains Nigerians. Are all Nigerians your urchin?

So twitter ban and border closure did not pain Nigerians

Your brain is filled with ice block

TheChameleon:
Either Atiku or Tinubu will be President.

Both are smarter than Buhari.

The moment they are sworn in, they will allow the exchange of old Naira notes.

And save each other billions.

Buhari just dey dribble himself.

This is why I've not been worried. I know whosoever wins is likely to reverse the policy.
I remember telling someone here that it will lead to inflation, he dey tell me sey I no go sec sch, as if inflation na only demand dey cause am.
Now we have a Cost induced inflation on our hands.
What the CBN Gov is doing is not in anyway mopping excess cash(liquidity) that reduces inflation, but he is mopping up fiat(paper) money, which is going to cause problem.
I've had more than 5failed transaction in the past 2wks, none was auto reversed, it took me 4days on average to get each of those funds back. Imagine I'm not familiar with banking process or I have no alternative when those funds failed.

Tenses:


Bros, I understand your pain. My business is heavily dependent on cash. The local people I buy raw materials from only receive cash as they have no knowledge of online transactions. For the past 3 weeks I have not bought raw material for my factory.

But I choose to see the bigger picture here. The gain of this policy is enormous, from good governance, strong economy, increased value of the naira etc.

Let's bear and persever a little as the policy bites. We will adjust. And we'll be fine las las.

Is this the first time they are changing currency notes in Nigeria?? The ones they have been doing for several years now , was your economy stronger ? Did your naira have an increase in value?? Did governance get better?? Or which Nigeria are you talking about....we like deceiving ourselves in this country.

Tenses:


Bros, I understand your pain. My business is heavily dependent on cash. The local people I buy raw materials from only receive cash as they have no knowledge of online transactions. For the past 3 weeks I have not bought raw material for my factory.

But I choose to see the bigger picture here. The gain of this policy is enormous, from good governance, strong economy, increased value of the naira etc.

Let's bear and persever a little as the policy bites. We will adjust. And we'll be fine las las.

"we will adjust" this how Nigeria have become a home of unending pains and suffering,,, rice is sold at 45k per bag "we adjusted" insecurities in all nook and cranny of this country we adjusted,,, senseless policies here and there we keep adjusting,, it ok my brother ,,,let them make any senseless policies as it suit them,, let them liquidate and discourage SmE businesses that is keeping an average Nigerian cause to live at the long end we adjust as u put it.

Moh247:


Nairaland surely has high population of fools that just type without reasoning

You and your fellow urchins are the fools that constitute nuisance on NL

This Road is Heaven on Earth.

FreedomArmy:
yes they have gotten it but they don't have it in billions. Individual cannot withdraw more than 500k in one week and corporate bodies cannot withdraw more than 5m in one week.

I am not talking about withdrawal but wholesome taking the new notes bullion vans to the politicians abode and bringing their old ones to the banks.
Why do you think CBN is shouting that they have given the banks enough money but they are still mostly giving old notes to the public?

adenigga:



Source: https://punchng.com/New-naira-CBN-insists-on-Jan-31-Buhari-snubs-govs-monarchs

This decision is targeted to some set of people, just that it's affecting other innocent citizens.

Some criminal elements are hoarding millions, billions of naira and right now they needed more time to throw back the said millions back to the system but bubu is not dancing to their tune.

Criminal elements such as some corrupt politicians and kidnappers collecting ransom in cash

When there is a change, it certainly will affect some set of people.

My thought anyway

Agbegbaorogboye:

So twitter ban and border closure did not pain Nigerians

Your brain is filled with ice block

Is Twitter food?

How many Nigerians are on twitter ?
We are talking about something that affects all Nigerian no matter where you are in Nigeria, you are talking twitter


The border closure, people understood the reason behind that though it didn't produce any result. We still complained because closing the border wasn't the solution. Even NASS complained.

This redesign. There are better ways to do it. In saner clime govt policies are not meant to make the masses suffer

All this long post. Na una papa dey read am

Will banks collect old naira notes on 31/1/2023

victooman:
is it that some of you are just inherently stupid or u just like to sound intelligent on a forum like this,, within the period of 3 months what was bank giving back to the community when they comes for withdrawal after making deposit? how can the new money goes on circulation ? why didn't they maintain the deadline and stick on their 500k weekly withdrawal limit? what people are scrapping for now is not even upto 50k weekly limit,,, why not go full cashless,, what is the 20k doing in ur house,, go full cashless since u are so much in love with this senseless policy,,, l notice that most of you supporting this unorganized show of shame ,are salary earners with no fvcking single business anywhere,, no one who ever grow or own a business will support the process Emiefele is going on with this policy.

You dey mind am.
Banks ATM are no longer working as it ought to, you can't enter bank to for transactions.
POS, Ussd and online banking is failing. And some are thinking politicians will be majorly affected

adenigga:

Buhari explained that the currency redesign was not meant to target innocent citizens, but corrupt people and terror financiers hoarding illicit funds.
Source: https://punchng.com/New-naira-CBN-insists-on-Jan-31-Buhari-snubs-govs-monarchs

That would be Emefiele, according the DSS, right?

TheChameleon:
Either Atiku or Tinubu will be President.

Both are smarter than Buhari.

The moment they are sworn in, they will allow the exchange of old Naira notes.

And save each other billions.

Buhari just dey dribble himself.

if that happens, our economy will finally enter the muld. Do you think they can call back for the old note after 4months?

lrman:


Is this the first time they are changing currency notes in Nigeria?? The ones they have been doing for several years now , was your economy stronger ? Did your naira have an increase in value?? Did governance get better?? Or which Nigeria are you talking about....we like deceiving ourselves in this country.

The last major currency change was in the early 1980 and it ushered in a stable economy as witnessed in 1990 and 2000 before money politics, vote buying became norm in Nigeria. CBN stated that there are about 26. 17 trillion naire unbanked. This unbanked money is the major cause of the hyperinflation we are witnessing.

If CBN can recapture 50% of these unbanked trillions then the economy will improve significantly.

I think it is a good idea. So many people have hidden the old notes

Mickykarim:


NOW THAT EVERONE IS SINGING ONE CHORUS WITH ONE VOICE!

If it is for the people and the same people are under excruciating yoke as it appears.

WHAT THEN IS THE PURPOSE, YOU WOULD WANT TO ASK?

must u quote the entire message just for you to drop just two sentence

Felabrity:
APC and PDP can cry from now till tomorrow

Buhari don't have anything to lose

He is only doing this for the interest of Nigerians

Nigerians have endured a lot of hardship under him, we can endure this one

This is the first time I am actually happy with buhari, na who get money dey cry, for me I don go change the 1,500 wey dey my hand. Nigerians Stop crying like babies if new note nor dey oga collect transfer period.

You are to deposit old notes and not be given new notes in return. Let's get that straightened out first cos it seems we are all missing the whole idea of the cashless policy by the CBN.

According to Bishop Oyedepo, Nigerians have short memories.

Bring the old bullion van in exchange for a new van you no hear.

meum:
The corrupt system is fighting back.

The new notes have been released but few Nigerians are hoarding them.

It will take a lot to rid this country of unpatriotic elements amongst us.

Evil Elements have flooded all Sectors of Nigeria and there is nothing any Individual can do about it. Even The people who started this Evil Deeds in the first place are now in Awe at the Rapid Growth. Whatever we sow, We must Reap. People are more Wiser now but In an Evil Way.

Most Intelligent people and even Many Ordinary people now wants to drive Latest RollsRoyce, Bugatti, Lexus, Benz, Toyota etc. They want to bulid luxurious mansions and houses, and keep satisfying their unending Insatiable Greed by all Possible Means without any Real Source of INVENTION or INVESTMENTs.

Where do you think all the Monies will come from? What Source? Who are those who will bear the Brunts? Your guess Is as good as mine.

All of you should brace Up because this Is Just the beginning.

Deemas:
Honestly, I am just beginning to love PMB now that his tenure is coming to an end.

Let me ask u. Why didn't PMB try to curb this vote buying during the last election that he won for 2nd term?

Be fair in ur answer.

Mind u, am happy with the policy and pray the dollar comes crashing down. But I believe its all political

OlujobaSamuel:

You dey mind am.
Banks ATM are no longer working as it ought to, you can't enter bank to for transactions.
POS, Ussd and online banking is failing. And some are thinking politicians will be majorly affected

Obi is the only Presidential candidate not complaining because he doesn't play money politics. We no dey give shishi . Buhari and Emefiele definitely don't want Tinubu and Atiku so the reason for the banana peals.

E good like that.

MatrixCircle:

Obi is the only Presidential candidate not complaining because he doesn't play money politics. We no dey give shishi . Buhari and Emefiele definitely don't want Tinubu and Atiku so the reason for the banana peals.

Why is he not complaining about fuel scarcity too?

Minjim:


This is the explanation I don't want to hear most of these politicians have strong relationships with banks they can get their new note effortlessly its people like you that will suffer to get it. Do you have up to 10k new notes with you?

Why can't CBN do it like the old #100 that's not in circulation again?

That's the way saner countries remove money from circulation, not in an hasty manner. After all this is not the first or last election in Nigerian. So prior to every election we should be doing currency redisign?

You people should reason now!

u said most let leave it there,u heard how monarch govnors,senators are jangiloving about like a headless chicken because of 31st so u think they are doing it for u,if this date is extended to their will the aim of the redisgn is in vain, reason well

Minjim:



Is Twitter food?

How many Nigerians are on twitter ?
We are talking about something that affects all Nigerian no matter where you are in Nigeria, you are talking twitter


The border closure, people understood the reason behind that though it didn't produce any result. We still complained because closing the border wasn't the solution. Even NASS complained.

This redesign. There are better ways to do it. In saner clime govt policies are not meant to make the masses suffer

Twitter is food to some people. They use it to move their business.
5million people is a sizeable number of a population in a country. That's more than the total population of a state.

What difference does it make whether it affects the generality of Nigerians or a section?

The fact is you can't claim to understand one and not the other. Buhari has been consistent through all these policies, not giving a damn whose ox is gored.
So because this one touches you now does not make it different from those that touched others but didn't touch you.
Just as you understood border closure, you should understand this one too.
Stop the hypocritical wailing

Tenses:


The last major currency change was in the early 1980 and it ushered in a stable economy as witnessed in 1990 and 2000 before money politics, vote buying became norm in Nigeria. CBN stated that there are about 26. 17 trillion naire unbanked. This unbanked money is the major cause of the hyperinflation we are witnessing.

If CBN can recapture 50% of these unbanked trillions then the economy will improve significantly.

When was 100, 200, 500 and 1000 introduced?
When was 50k to #50 changed

Globad:


Was he the one that sent the 36 state governors, Ohaneze Youths, NBA, Arewa Consultative Forum, etc

Una go just face one direction dey write.

Is there any Nigerian politician that can beat his or her chest and say that he won't need cash before election and on election day?

Why are some of you fixated on only one politician? Is he the only one in the whole country or among the presidential contestants that will be affected?

Those idiots are born with hate. Same people who voted and dedicated their lives to PDP for more than 20years with nothing to benefit or write home about. Now that their eyes are opened to the corruption and stagnancy PDP put them through, they turn around and blame Tinubu who has made 70% of their tribesmen the breadwinners of their homes. Very shameless people.

OlujobaSamuel:

You dey mind am.
Banks ATM are no longer working as it ought to, you can't enter bank to for transactions.
POS, Ussd and online banking is failing. And some are thinking politicians will be majorly affected

All these happened because politicians heat up the polity by wailing over the redesign policy.
The fact is even after the deadline, the banks can still and do still collect the old notes.
Politicians are more worried about the circulation of the new notes not the old notes because they know most people they intend to buy with money will reject the old notes during election.