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Despite Extension, Nigerians Can’t Withdraw Old, New Notes - Business (5) - Nairaland

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Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by dustmalik: 10:32am On Jan 31, 2023
kevoh:

Leave them! They don't want to have sense! One said he/she walked around Ikotun looking for ATM that dispenses cash but didn't find. Is that not foolishness? Why will I waste productive hours looking for ATM when I can do transfers?
You are actually the foolish one here. Do you know how transfers have been failing for the past few days? The whole system is not ready for the new policy, yet you idiots think it will only affect politicians who intend to buy votes.

I don't blame idiots like you. If we check now, you probably don't have up to 10k in your account.
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by Urchinpainer: 10:39am On Jan 31, 2023
stagger:


The stark ignorance of our people is encapsulated in this post.

Don't you know that by the time the citizens do not have any kind of access to the new notes, this will make them even more susceptible to vote buying?

Where do you think the new notes are? It is already in the hands of politicians. Who do you think will benefit from the Feb 10 - 17 exchange at the central bank? Is it the common man or the pepper seller in the market?

You are all gullible!

Do you work in the bank? If not then keep quiet!
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by naijamerican: 10:43am On Jan 31, 2023
I actually love this move by the devil Buhari. Lets eliminate random vote buying with dirty money.

I believe in a new NIGERIA!
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by SirJerrie(m): 10:44am On Jan 31, 2023
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Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by judedwriter(m): 10:46am On Jan 31, 2023
God2man2again:
There may be more to this scarcity of new notes, perhaps, something is going on underneath that we don't know.

Why can't they solve the problem of fuel scarcity till now?

Despite the fact that the date has been extended, there is still scarcity of new notes.

What is going on?

Which way Nigeria?

Is there a hidden agenda?

There is no smoke without fire.

All the governments of the world are heading towards a cashless society.

Very soon, almost all commercial transactions will be done by your cell phone or any electronic devices.

A one world government is slowly approaching.

1 Like

Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by Advancedman(m): 10:49am On Jan 31, 2023
bennybuhari:
Buhari punishing Nigerians but some morons said he is punishing Tinubu

Tinubu will never queue for fuel or naira notes and withholding it won't stop him from winning if God wants him

Will you shut this man name up and thrash it once all for all I mean tinubu.
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by eldoradoxx: 11:03am On Jan 31, 2023
Just yesterday in Nigeria, I bought 19,000 naira cash for 21,000 naira. I bought it as the highest bidder for the last available cash with the POS boy. I came out from the bank cashless , they don't pay either the old or the new naira notes, they don't have new naira cash to pay anybody. All POS I met had no cash. This is the woe the policy that was not well planned is causing
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 11:04am On Jan 31, 2023
naijamerican:
I actually love this move by the devil Buhari. Lets eliminate random vote buying with dirty money.

I believe in a new NIGERIA!

What makes you think buhari is interested in eliminating vote buying? Why are some of you so gullible? How does the suffering nigerians are going thru justify eliminating vote buying?

1 Like

Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 11:05am On Jan 31, 2023
stagger:


The stark ignorance of our people is encapsulated in this post.

Don't you know that by the time the citizens do not have any kind of access to the new notes, this will make them even more susceptible to vote buying?

Where do you think the new notes are? It is already in the hands of politicians. Who do you think will benefit from the Feb 10 - 17 exchange at the central bank? Is it the common man or the pepper seller in the market?

You are all gullible!

Are you the one that put the new notes in the hands of politicians?
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 11:06am On Jan 31, 2023
BabaCommander:
grin
Why do you people see every as Buhari vs this or that?
The logic behind the currency change is not about who sees new notes, but that politicians who stole and stasched away old notes for years will not be able to use it to finance vote buying or pay thugs.

How does that justify the suffering nigerians are going thru? What is CBNs business with stopping vote buying? Is that one of its functions?

1 Like

Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 11:07am On Jan 31, 2023
flejnr2:
The banks have probably sold them all out to bdc operators and politicians, we are our problems ourselves in this country.

Where you there when they were doing the sale?
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 11:08am On Jan 31, 2023
Millz404:
Let's endure it the way we've been enduring fuel scarcity. Banks should make 100 naira more available

Buhari has made you suffer to the point were you now see suffering as normal
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 11:11am On Jan 31, 2023
derecho:
God doesn't want a disaster like Tinubu to befall Nigerians.
Except the god you are referring to is a sadist

If God doesn't want Tinubu to be president, he would make nigerians suffer for cash. He can easily take his life. After all, it's the same who brought buhari the disaster on nigerians. Pls leave God out of it. Nigerians are suffering and you are happy because you think it will affect Tinubu and you are calling God
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by TristanX: 11:18am On Jan 31, 2023
Urchinpainer:
Senators think say them dey wise. Emefiele allowed old notes to come in, the new note can only go out through ATM. grin grin grin.... They will need 10 years to withdraw the money they need for vote buying unto 20k levels ATM is paying per day.

Emefiele is a Neck presser I swear. Imagine coming to withdraw 100miliion over the counter and they tell you "sir, based on CNN policy, we can only give you 100naira notes or 50 naira notes grin grin grin. You will need 20 bullion vans to carry the money!

Vote buyers are in a deep mess

1 Like

Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by Nobody: 11:36am On Jan 31, 2023
bennybuhari:
Buhari punishing Nigerians but some morons said he is punishing Tinubu

Tinubu will never queue for fuel or naira notes and withholding it won't stop him from winning if God wants him
I tell you bro.. very ignorant lots
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by Millz404(m): 11:40am On Jan 31, 2023
lexy2014:


Buhari has made you suffer to the point were you now see suffering as normal

This is for the greater good. Before you quote me next time, grow a pair of sense
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 11:43am On Jan 31, 2023
Millz404:


This is for the greater good. Before you quote me next time, grow a pair of sense

We are saying the same thing. Buhari has made you suffer to the point were you now see suffering as normal
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by Nobody: 11:43am On Jan 31, 2023
free2ryhme:


Madness everywhere



The best way to implement a new currency change in Nigeria would be to do so gradually, with ample time and notice given to the public, and with a comprehensive plan in place to address any potential issues that may arise. This plan should include measures to mitigate the potential negative impacts on businesses and individuals, such as providing support for those who may struggle to exchange their old currency for the new one. It should also involve extensive public education and outreach efforts to ensure that people are aware of the change, what it means for them, and how to navigate the transition. Additionally, it would be important to have a clear communication strategy in place to address any concerns or questions that may arise from the public.



Implementing a new currency change in Nigeria requires a well thought out plan and execution. Some steps that can be taken include:

Proper communication and education: The public needs to be informed well in advance of the upcoming currency change, the reasons behind it, and how it will be implemented.

Gradual phase-out: Instead of abruptly discontinuing the old currency, a gradual phase-out period can be implemented to allow for a smooth transition.

Parallel circulation: Allowing for the circulation of both the old and new currency for a period of time can also help with the transition.

Collaboration with commercial banks: The Central Bank should work closely with commercial banks to ensure that they have enough new currency to meet demand.

Training for cash handlers: Cash handlers such as bank tellers and retailers should be properly trained to handle the new currency.

Security measures: Adequate security measures should be put in place to prevent counterfeit currency and fraud.

It is important to note that the CBN Governor should carefully weigh the decision before taking any action, and should consider the potential consequences of his decision. It is also important to consult with stakeholders such as the Ministry of Finance, Members of the Senate and House of Representative, other government agencies and the public.


It is important to consider the potential impact on the economy and the population when implementing a new currency change in Nigeria. One way to mitigate negative consequences would be to have a well-planned and coordinated rollout of the new currency, with clear communication to the public about the reasons for the change and how it will affect them. This could include providing education and training for businesses and individuals on how to handle the new currency, as well as ensuring that there are enough new notes in circulation to meet demand. Additionally, it may be beneficial to phase in the new currency over a longer period of time, rather than introducing it all at once. This could help to minimize disruptions to the economy and reduce confusion among the population.

It would also be important to ensure that there is adequate support and resources in place to help people and businesses manage the transition. This could include providing financial assistance to those who are most affected by the change, such as small businesses and low-income households.

It is also important to work closely with the government, financial institutions and other key stakeholders to ensure a smooth transition. This could include coordinating efforts to ensure that new currency is widely available and that there are adequate security measures in place to prevent fraud and counterfeiting.

In the event that the CBN Governor declines the request for time extension, it is important for the CBN Governor to clearly communicate the reasons for the decision to the public and to work closely with the government and other stakeholders to mitigate any negative consequences. It is also important for the CBN Governor to be transparent in their decision-making and to be willing to listen to feedback and concerns from the public.
We'll said! The CBN just rushed this new Naira note implementation without proper timing, public communication and co.

See the way Lagosians were suffering at Banks and ATM sitting outside just to get notes whether old or new..

Nigerians just dey suffer oh for sake of unplanned and unprepared Govt. actions. So sad
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by PARADIZEPRIEST: 11:48am On Jan 31, 2023
GO TO YOUR BANK AND COLLECT MONEY,BANKS ARE NOW FOCUSING ON DIRECT CUSTOMERS.DONT USE ACCES ATM ON ZENITH ATM PERIOD. angryTHE COMMERCIAL BANKS ARE THE CULPRIT NOT CBN,THEY HOARD THE NEW NOTES FOR POLITICIANS TO EXCHAGE THEIR TRAILER LOAD OF OLD CURRENCY TO BUY VOTES,THE HOARD IT FOR BDCS FOR DOLLAR CHANGERS.NAIJA PPL GET YOUR Facts right the politicians and crooked bankers are messing up your minds because you are not following what is happening. Is all an evil plot by crooked bank managers in regional Offices to sabotage the new note flow into hands of ordinary Nigerians, so that crooked politicians will bride ordinary nigeria with it to make them look like savior till election is over. angry
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by bigjackass: 11:57am On Jan 31, 2023
Johnson225:
Strict decisions I must say. If we have to go through all this to curb vote buying, then I’m fully in support of it.

For quality sneakers.
Watssap:07065417708
this cannot curb vote buying. Tinubu and co already have new naira notes readily supplied by your bank MDS .
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by kevoh(m): 11:59am On Jan 31, 2023
dustmalik:

Do you know how transfers have been failing for the past few days? .
Well, I've been doing transfers for as little as #500 since Friday and mine has not failed! Failed transfers are still a very poor excuse and will not make CBN change its mind. Find something more convincing!

dustmalik:

The whole system is not ready for the new policy, yet you idiots think it will only affect politicians who intend to buy votes.
System is over ready! You people are just too stubborn to switch to cashless! Nigerian banks even have applications like scanning qr codes existing for years, that do not depend on network for transactions but nobody seems to want to use them. Always arguing and giving poor excuses to remain in cave era!

dustmalik:

I don't blame idiots like you. If we check now, you probably don't have up to 10k in your account.
What's wrong with having only 10k in my account! Is it not money I worked for?

The earlier you people realise CBN is going to make these new notes scarce even after Feb 10, the better for you! You can continue paying #100 for every #1000 you withdraw at POS, join long queues and spend productive hours to withdraw nearly non-existent scarce notes or start adopting cashless measures to save your time and energy.. Whatever you do at the end of the day is your cup of tea!

1 Like

Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by naijamerican: 12:17pm On Jan 31, 2023
lexy2014:


What makes you think buhari is interested in eliminating vote buying? Why are some of you so gullible? How does the suffering nigerians are going thru justify eliminating vote buying?
Impossible to buy votes when there is no actual currency to exchange. Naira has never been so valuable as it is currently
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 12:20pm On Jan 31, 2023
naijamerican:
Impossible to buy votes when there is no actual currency to exchange. Naira has never been so valuable as it is currently
That's not what I asked. What makes you think buhari is interested in eliminating vote buying? Why are some of you so gullible? How does the suffering nigerians are going thru justify eliminating vote buying?
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by naijamerican: 12:26pm On Jan 31, 2023
lexy2014:

That's not what I asked. What makes you think buhari is interested in eliminating vote buying? Why are some of you so gullible? How does the suffering nigerians are going thru justify eliminating vote buying?

Even though Buhari is a wicked criminal, he's been against open looting and corruption. I think he doesn't want Tinibu to be able to just splash money every where to secure votes like he's done in the past. The problem is Nigerians are simply too corrupt, so people like Tinibu rise to the top. Its disgusting
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 12:26pm On Jan 31, 2023
kevoh:


System is over ready! You people are just too stubborn to switch to cashless! Nigerian banks even have applications like scanning qr codes existing for years, that do not depend on network for transactions but nobody seems to want to use them. Always arguing and giving poor excuses to remain in cave era!

How is the system over ready? Can you pls explain?

If you say people are stubborn is by forcing them or helping them to see why they should switch from cash to cashless?

How many "stubborn people" were forced to use ATM cards?

Why create chaos and suffering because you want people to go cashless?

How did you come to the conclusion that "nobody seems to want to use" banks e-channels? Is that what the banks told you?
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by Oluchiugo: 12:26pm On Jan 31, 2023
This pain is too much on Nigerians and Buhari should see reasons,Nigerians can abuse anything. You cant be suffering 200 million people because of one person. In some parts of Asaba as we speak, POS operators exchange #10,000 at #2,000 charge rate.....whooping 20% charge. Are we not our own enemies?
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 12:27pm On Jan 31, 2023
naijamerican:


Even though Buhari is a wicked criminal, he's been against open looting and corruption. I think he doesn't want Tinibu to be able to just splash money every where to secure votes like he's done in the past. The problem is Nigerians are simply too corrupt, so people like Tinibu rise to the top. Its disgusting


That's not what I asked. What makes you think buhari is interested in eliminating vote buying?

Why are some of you so gullible?

How does the suffering nigerians are going thru justify eliminating vote buying?
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by opera1(m): 12:35pm On Jan 31, 2023
bennybuhari:
Buhari punishing Nigerians but some morons said he is punishing Tinubu

Tinubu will never queue for fuel or naira notes and withholding it won't stop him from winning if God wants him


Fact. Punishing millions of people just because of one person [Tinubu]
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by Nobody: 12:35pm On Jan 31, 2023
Urchinpainer:
Senators think say them dey wise. Emefiele allowed old notes to come in, the new note can only go out through ATM. grin grin grin.... They will need 10 years to withdraw the money they need for vote buying unto 20k levels ATM is paying per day.

Emefiele is a Neck presser I swear. Imagine coming to withdraw 100miliion over the counter and they tell you "sir, based on CNN policy, we can only give you 100naira notes or 50 naira notes grin grin grin. You will need 20 bullion vans to carry the money!

Dont be an fool, everyone knows senators and politicians dont goto to banks, they dont queue at ATMs.

Its the poor masses that suffer, you already heard people selling new notes on the streets, where did they get it from , from your very CBN.
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by lexy2014: 12:49pm On Jan 31, 2023
naijamerican:


Even though Buhari is a wicked criminal, he's been against open looting and corruption. I think he doesn't want Tinibu to be able to just splash money every where to secure votes like he's done in the past. The problem is Nigerians are simply too corrupt, so people like Tinibu rise to the top. Its disgusting

How does everything you typed justify Nigerians suffering because of new naira notes?

Buhari is a "wicked criminal" but "he's been against open looting and corruption". Does that make sense? How can a "wicked criminal" be against "corruption and looting"? Why then is a "wicked criminal"? If he is against "open looting and corruption", are you now saying that he supports closed looting and corruption?

Are you telling us that buhari is not corrupt? Can you tell me how his wife is able to live in Dubai?

Can you tell us how he became president? Where did the funds come from?

If you say "Nigerians are simply too corrupt", does that exempt you and buhari?

Is it y'day that buhari suddenly realized that Tinubu is corrupt?
Re: Despite Extension, Nigerians Can’t Withdraw Old, New Notes by Urchinpainer: 12:49pm On Jan 31, 2023
quentin06:


Dont be an fool, everyone knows senators and politicians dont goto to banks, they dont queue at ATMs.

Its the poor masses that suffer, you already heard people selling new notes on the streets, where did they get it from , from your very CBN.

You must be daft to think that Emefiele that put the policy doesn't know what he is doing? Why is Tinubu complaining, why is he attributing it to his election?
You think the 10k you queue on ATM is Emefieles problem? No fuckuing politician can get the amount of New notes he needs to run this election! Unless that politician is directly working with Emefiele

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