Buksaylor:


You cannot accept it as legal tender but banks can accept deposit of it.

Omoapena:



Omo

Na wa o
Its not a legal tender but they will collect it and give you the exact value of what you bring.....

Is your sense not telling you that since they are collecting 20000 units of it while they give you same value either in cash in hand or cash at bank then people will keep spending it when they know they can take 20000 units of it to the bank and still gets same value, so how does that rule out the money being legal tender? YOU ARE RIGHT. THATS WHAT I'M EQUALLY SAYING


I'm not arguing....

SmartPolician:
I thought Gbaja was threatening to arrest Emefiele! How come he visited the HoR and the speaker didn't ask security operatives to pick him up? Yeye dey smell.

By the way, why are they going back and forth with this naira redesign policy?

Dreal1247:
What is the meaning of this statement? We need further explanation.

UnfairLife7:
Not surprise

I know the CBN governor will obviously dance to their tone at the end

christejames:
Means no deadline again na 😏

KingKO22:
Jagaban has won again
.
.

Kudos to Asiwaju of Africa



All patriotics Nigerians are going to reward Asiwaju with massive vote so that he can continue to protect the interest and welfare of patriotic Nigerians


Only fake Nigerians and their Anini mastered will be painted by this good news

Allisgud:
If this is true,the aim of the redesign is a waste of money

Omoapena:



Where are you people getting this info from,

Governor of CBN said 17th is the deadline for commercial banks to accept it, so why will the commercial banks accept it after 17th of February...

SisterAnn:
He still maintained his stand. Read again and carefully.

SisterAnn:
Urchins are senseless, that's why they support Tinubu.

Emefile told pressmen yesterday this same thing.

After Feb 10, old money becomes useless. But if you can go and deposit it, you can withdraw new notes.

Any money hoarder who doesn't finish spending his old notes before the deadline will have to take to the bank.

No Bank will pay someone who hoarded millions of old naira in millions of new money. The money will remain scarce till after the election.

emilo2bad:

Stop consoling yourself you lose big time, we will spend old naira throughout this year

KINGBEN1:
CBN has gotten to their target. There is an amount of notes that must be in the hands of Nigerians.

At this point, they have received all they wanted. The quantity of money outside, as regards cash.... cannot influence the outcome of result overwhelmingly in terms of votes buying.

SisterAnn:
You are dense upstairs.

By Feb 10, old notes you have stored in the grave cease to be legal tender.

But you can still deposit it in the bank to withdraw new notes.

The catch is that, even if you deposit 10m old money, no bank will pay you 10m of new money in exchange.

The new money will still not be sufficiently available. You maybe be offered nothing more than 200k in new money or less, depending on stipulated withdrawal limit.

New money will never be enough in circulation till after election.

Say no to vote buying.

Omoapena:
Lolz

If banks allows it, then it's still legal tender and people will continue to spend it like they spend the 2 different 100 naira notes we have....




This is now clear to me, general public are advise to start rejecting it after 10th of February while people that still have it are advised to take it to bank before 17th of February to credit their account so which means, it's legal tender until that 17th of February, they should have just said 17th of February is the deadline date instead of all this confusion everywhere...


You can now decides within yourself whether to keep collecting it after that 10th of February with the intention of taking it to bank before 17th of February or you start rejecting it thereby forcing whoever holding it to take it to bank before 17th of February to avoid crashing with him....


Seun, the headline is misleading, banks will stop accepting it after 17th of February and not keep accepting after the public deadline which is 10th of February...

SisterAnn:
How?

After the deadline, you can't spend old notes again.

But you can use trailer to carry them to the bank and deposit them. Then you can withdraw new notes in return.

Now tell me, if a money hoarder takes 20m old notes to the bank and deposit it after Feb 10, can the bank be able to give him back 20m of new notes in return immediately? No!

The old notes would remain scarce till after the election.

Vote buying will be highly curtailed.

BloomingDale:


Oga, stop this fake argument. If you take your old notes 500 years from now to a bank, they will still accept it even though it’s no more legal tender.

Even though it’s no more legal tender I’m sure the public will still be using it, if they can’t get hold of the new note since you can take the old notes to the bank anytime for exchange. Abi ear dey pain you.

The only people that will follow the deadline is the banks that will no longer give out the old notes to the public. Gradually the old notes will be moped off.

Tinubu can still use all his old stash to bribe electorates on Election Day.

Dreal1247:
What is the meaning of this statement? We need further explanation.

BloomingDale:


Go school, go school. You refused. Now, see the result.

Parachoko:
Why do you say the "purpose of the whole thing has been defeated"?

Why is the cashless policy kick off in 2012?

kaeycea:

200m have been having troubles upon troubles.
Why are politicians more concerned about this particular trouble? Why didn't they fight with the same vigor on fuel scarcity and other bad policies.
We the 200m people are ready to sacrifice and stop the bullion van politicians from returning to power through vote buying

RichAbujaGuy:
Nice adjustment but I don't think big ppl will be able to withdraw large amounts of new notes for nefarious political reasons. The country is moving into the 21st century of being cashless.

Buksaylor:


You cannot accept it as legal tender but banks can accept deposit of it.

Islandboi:
na this election we go know how many sane people dey nah. And what do you mean by enter with litter friction from pdp?

fxexperts:
Speak ignorantly for yourself dude. You don't know the calamity that is about to befall Nigeria if this useless CBN policy stands.

Dude doesn't know what cashless policy means.

How does that sound to you. and will the perceive purpose you so pray for its implementation works. your setout goal has been defeated then.

Omoapena:


So if banks will continue to accept it, how will people stop spending it or should I say, how does it lose its legal tender status?