Then, It was of no use redesigning the notes...

Buksaylor:


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

what if I accept it then take it to bank what make the difference

That means people will not accept it for transactions but banks will accept it as deposits for the next 5 months as per the Act

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?

..if he fails to appear before the ad hoc committe.

Stop reading only headlines. Lazy youth.

So there is a deadline but there is no deadline. What a joke. Emefiele the dimwitted clown.

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?

Can you read?is that not what he wanted to arrest him for?

God1000:
Politicians will be be happy with this

Not really, you won't still be able to spend it amidst people. It's just that Banks will accept it from your hand, but in the public it won't be useful for transactions because it has ceased to be a legal tender because of the stipulated time of notice.

Trap

Lol if the bank accepts it, its technically still a legal tender since you can still deposit the old naira note in the bank after transaction

Buksaylor:


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

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

what the statement is trying to say, is that, banks will accept old notes but can't give it back. It's a bait if you ask me because, people will be compelled to deposit everything they have in the form of cash but the new notes would be nowhere to be found. That's very dangerous to my own point of view.

Bank can accept it for a period of 7 days after Feb 10th.
What that means is that an additional 7 days for any one who fails to meet Feb 10th deadline when it ceases to be a legal tender is already provided.
After Feb 17th, no bank can accept it anymore

More details are needed.

What this means is that from February 10th 2023, the old notes will cease to be a legal tender but individuals/cooperations can still take their old notes to CBN but the challenge is that they will not get replacement with new notes. It means they will loose their money even though the bank is willing to collect it from them.

This doesn't in anyway help the politicians that want to buy votes

Islandboi:
He finally bow to pressure. And you think they will sworn obi in as president even if he wins?

Let him win fess

politicoNG:


https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp

Now that we have deposited all our old notes when deadline was dated 31st of January, that we can't access new notes, what should we do

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



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The law does not allow CBN to reject the old notes like that seems the reps has drawn his attention to the constitution. The NBA also highlighted what the position of the constitution before now [color=#006600] [color=#006600][/color]

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?

He would have been arrested if he failed to show up.

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

While you cannot use it for buying and selling, you can take it to your bank to save or cash it for you.

Wey that brodaman wey dey talk orishurishi with me for the other tread!

The truth is that many northerner are going to be affected so baba have soft-pedal

Where you for read this one again. Una mata dey tire person.

kaeycea:
Bank can accept it for a period of 7 days after Feb 10th.
What that means is that an additional 7 days for any one who fails to meet Feb 10th deadline when it ceases to be a legal tender is already provided.
After Feb 17th, no bank can accept it anymore

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?

Christ you're a dvllard🤦🏽‍♂️🤦🏽‍♂️

God1000:
Politicians will be be happy with this

This will actually assure traders they can continue to accept the old notes till the deadline. It will also assure rural dwellers who haven't been able to pay in their money. It still prevents politicians from being to buy votes with old money. Win-win.

All that's remaining now is to increase supply of the new notes.

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

it means, after the deadline, you cannot spend it as a legal tender anymore. But take it to the bank and they will accept it and pay into your bank account.

God1000:
Politicians will be be happy with this

They weren’t affected in the first place… Guess you undermine the meaning of a Politician in 9ja context

I don't get it. So, what's the point of the whole brouhahas? I guess they've realized the purpose of the whole thing has been defeated with banks fortifying VIPs with the new notes even before the expiratory date.

The vote buying will be sweet this time around. Note, we have 1. Two #1000(the elder and younger brother). 2. two #500(the elder and younger brother). 3. Two #200(elder and younger brother) 4. Two #100( agba and the new one.) all of them are valid for your transactions. Lol.

leogho:
Where you for read this one again. Una mata dey tire person.

He has already made a press conference after his last meeting with Buhari at the Aso Villa and addressed the issue before his appearance at the lower chambers todays.

CrestMan:
What this means is that from February 10th 2023, the old notes will cease to be a legal tender but individuals/cooperations can still take their old notes to CBN but the challenge is that they will not get replacement with new notes. It means they will loose their money even though the bank is willing to collect it from them.

This doesn't in anyway help the politicians that want to buy votes

No it means that cannot use it a means of transaction in the open market but it is still a legitimate legal tender until the house of representatives and Senate says it so.
So if after that date you are in possession of the old note you can deposit in your bank and you will be credited

So what is the essence of all that initial gragra. Emefiele I thought you are a hard man finally you have bowed to pressure. It's a shame !!!

dustmalik:

Small sense you don't have. If hadn't showed up today, he would have been arrested by now.

Blablablu

Honestly!

He is called Jagaban for a reason. He was the only presidential candidate that questioned the status quo - the masses should note this.

Na only him stand up for the suffering masses when all the rest dey play 'snake in the monkey shadow'.

Feb 25th is not far.


A vote for Jagaban is a vote for liberation... Mark my words here.