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Nairaland Forum / Nairaland / General / Politics / Currency Redesign: To Extend The Deadline Will Defeat The Aim (25346 Views)
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Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Believeintruth: 8:59am On Jan 29, 2023 |
VillagePipu: My wife is a banker. I worked in the bank. The swap yes will cause inconvenience, but this is minor compared to the benefits. Look in the financial circle globally Nigeria is among the red flagged countries for monet laundering, we have consistently failed all Money laundering certification tests as a country. This move is classic and the best for the country. It is a three pronged strategy. First redesign the currency and force those who have cash hidden outside the system to bring it in. Next redesign the AML policy to limit cash withdrawals and criminalise large cash withdrawals. Next redesign the cashless policy which makes it such that large withdrawals must be carried out using online channels, and make reporting of suspicious transactions easy for banks. 9 Likes 4 Shares |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by HarunaWest(m): 9:00am On Jan 29, 2023 |
Felabrity:Incase you are not aware, majority of this cash is held by corrupt civil servants, people in rural areas and farmers. Politicians rarely keep Naira cash, they rather keep hard currency. Na civil servants when dey collect kickback. Secretary, Directors, perm secs, MD et al get this cash up to billions atimes. They are the ones this policy will affect more. 2 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by windvane(m): 9:01am On Jan 29, 2023 |
NotKnown:see let's stop fooling each other,the reason the new note is not in circulation properly is because politicians were the first set of people to lay hands on it.....if you think there will be no vote buying,then I wonder how you think.If you are a friend to atiku or BAT and you head a bank,are you telling me you will refuse me changing the old notes? 3 Likes 2 Shares |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Nobody: 9:01am On Jan 29, 2023 |
The new notes are not enough.Hence,the extension. 1 Like |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Believeintruth: 9:01am On Jan 29, 2023 |
VillagePipu: If they have done this as you say, why are the politicians the largest wailing group on this? Oga I am in the system I know what I am saying. 1 Like |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by bergs2: 9:01am On Jan 29, 2023 |
juvewalex: Oga, forget, this is affecting everyone. If you had 9b in cash outside the financial system, you'll understand the reason the politicians are working against this move. It will affect the politicians more. Ask yourself, how much of the new notes were printed; how much will one politician stash away alone; why do you think the once empty senate sessions are becoming filled? Well, they cannot be far from the fact that the move is targeted against them buying votes and other inducements. 3 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by FarahAideed: 9:01am On Jan 29, 2023 |
What is the aim? Too many clowns in Nigeria ..if you want to deceive Nigerians just tell them your actions are targeted at the corrupt rich π
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and watch them support you , that was how they supported Buhari because they thought he will jail Diezani and Akpabio π
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3 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Obaaderemi2: 9:01am On Jan 29, 2023 |
Believeintruth:You are very funny. You are the one missing point. In fact I laughed loudly at your comment. Which bank will report which politicians? Did a bank not send bullion vans to a politician's house in broad daylight? What did Buhari do? Did same Buhari not defend Gandollar who was captured on video stuffing wads of dollars into his pockets? 2 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by windvane(m): 9:02am On Jan 29, 2023 |
arejibadz:stop capping on dust!!!change naira to dollar,tinubu is very safe!!!tinubu pains is that people will look at the situation on ground and give APC a bad name which might affect his voting chances... 2 Likes |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Spirit247: 9:02am On Jan 29, 2023 |
See shocking details: https://www.nairaland.com/7535960/why-must-pray-enemies |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by 4ward4: 9:03am On Jan 29, 2023 |
Felabrity: I repeat no Single corrupt politician is still holding his old naira note. This people just need to place a call to the MD of the bank they bank with and he will be in their house Live and direct. If an ordinary company director that makes some millions have a bank MD at a speed daily, what more can't a corrupt politician do. By the way, majority of them don't have Cash in Naira, all in hard currencies. They only get to change it when it is month end to play staffs and settle bills. 1 Like 2 Shares |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by faceland: 9:03am On Jan 29, 2023 |
bluefilm: Before, I was skeptical but I think it can work... Where I live 90% of the cash on common man's hand is the new notes because some shops stopped accepting old notes last week. Banks even opened on Saturday (despite very busy and crowed week), I felt sorry for the bankers (and I usually don't like banker but I pity them). 2 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Slynation(m): 9:03am On Jan 29, 2023 |
Hussein035:Tinubu win wetin?? Una dey funny me I swear!! |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by newnigerdelta00: 9:03am On Jan 29, 2023 |
Felabrity: Mugu's nor day finish,owner just day waste owner time ,they only redesign naira not Dollar, politicians and Moguls don't store naira but dollar's.. last last you are just supporting rubbish to slave your self 1 Like 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by herborlore27: 9:03am On Jan 29, 2023 |
Exchange your 1000, 500, 200 for old 100 and 50 naira to make payments for good's and service at least those one are in circulation, no dey look for yeye new note that those commercial bank has given politicians and party money changer since last year. Wise up and stop complaining because nobody is listening to you 2 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by windvane(m): 9:04am On Jan 29, 2023 |
VillagePipu:Thank you,all I see are so dumb Nigerians that can see beyond their nose...The main reason the money is not in circulation is because politicians have the said new notes already and they are waiting patiently... 1 Like 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by HarunaWest(m): 9:04am On Jan 29, 2023 |
Believeintruth:All these measures will fail when you haven't solved the inherent poverty in the nation. People are hungry and you want to fight corruption how is that supposed to work? Where is the buffer? In my village as we speak, people still have starks of cash they can't deposit in banks. They have gone to the bank 3 days straight, no way and they deal on food stuff. The unbanked in Nigeria are more than the ones enjoying financial services. It's a policy that came at a short notice and wrong timing. This is the sort of things that leads to protest in a sane clime. Buh the typical Nigeria notion is 'we go survive'. 3 Likes 2 Shares |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Bahamas95(m): 9:05am On Jan 29, 2023 |
As if the criminals don't have the new notes stacked up in their houses already, useless country!β¦... Na bank manager go carry the money come dia house sef. Na common man dey suffer. 1 Like 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by leetylee: 9:05am On Jan 29, 2023 |
Why donβt they load one hundred naira note on atms? This would have at least helped 2 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Believeintruth: 9:05am On Jan 29, 2023 |
Obaaderemi2: Just say you don't know. NFIU has a lot of suspicious transaction reports on politcians I am telling you what I have information on. Let one just have an issue and you will shocked on the STRs from banks on their transactions. 1 Like |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by JuanDeDios: 9:06am On Jan 29, 2023 |
kingsways:Oh, they've had enough time to circumvent it. One of the reasons the new notes are scarce is because politicians have moped them up for election in connivance with CORRUPT bank officials. Of course, the CBN also didn't print enough. The victims of this are mainly ordinary Nigerians and traders from Awomama to Kaura Namoda. 4 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by leisuretym: 9:06am On Jan 29, 2023 |
juvewalex:. Probably my thought on why we arenβt seeing the money in most ATMs, first supply still going to politicians offering bank managers N50m old notes in exchange for N30million new notes 2 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by Basicend: 9:06am On Jan 29, 2023 |
Buhari just dey give Tinubu watowato. . . |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by JuanDeDios: 9:07am On Jan 29, 2023 |
Bahamas95:You dey mind them?! |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by windvane(m): 9:07am On Jan 29, 2023 |
safarigirl:you have said it all,anybody that does not believe what you just typed is a big fool....Very sector is corrupt.Give a bank manager 50m and he will change 49m and keep 1m...one fool said we all should use card or transfer,so if I want to buy pepper or enter bike,I should do transfer,if I wan buy gala for hold up nko? 4 Likes 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by starstaz(m): 9:07am On Jan 29, 2023 |
Obaaderemi2: Haaaaaaa. I dey laugh ooooo. |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by sevenhundred(m): 9:08am On Jan 29, 2023 |
kingsways:this is just a negative policy, can not solve any problem like 1984 1 Like 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by samwash(m): 9:08am On Jan 29, 2023 |
VillagePipu: You think that is the way it works? Do you work in a commercial bank ? Money from nowhere will just hit your bank gbam !! & Money from somewhere will your leave your valut to nowhere just like that. |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by GENES11S: 9:09am On Jan 29, 2023 |
gfelo: Every major business should acquire POS. With POS, you also get receipt of the transaction should anything go wrong. That is how they run business in developed countries. Too many cash transactions Leed to corruption, kidnappings and the rest. The money we use for cash transactions should not be more than 20% of the country's purse. |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by VillagePipu: 9:09am On Jan 29, 2023 |
Believeintruth: Once the election comes and you see how they are spending the new notes, you will wonder how they managed to circumvent the policy. 1 Like 1 Share |
Re: Currency Redesign: To Extend The Deadline Will Defeat The Aim by tunapawizzy: 9:09am On Jan 29, 2023 |
VillagePipu:There is a reason politicians are united in crying right now. 36 state governors from different parties came together in unity to appeal to the president less than a month to general election. They don't have enough to buy votes. CBN is intentionally limiting the circulation of the new notes...e go flow after election. 1 Like 1 Share |
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