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Banks Will Accept Old Naira Notes After Deadline - Emefiele - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / Banks Will Accept Old Naira Notes After Deadline - Emefiele (50803 Views)

New Naira Policy: Do People Still Accept Old Naira Notes In Your Area? / Supreme Court Temporarily Halts Banning Of Old Naira Notes / Old Banknotes Redeemable Only At CBN After Deadline - Emefiele (2) (3) (4)

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Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by kennyz247(m): 2:56pm On Jan 31, 2023
jorez:
What this simply means is that,when you bring the old Naira note to the banks after the deadline of February 10th,they will take it from us as trash with no monetarily value to your account,meaning zero crediting to your account,Na you go chose either to trash the cash at home or take it to the bank to trash.Either way Na trashing after Feb 10th for old notes
try and get or buy some sense na

4 Likes

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by kaeycea(m): 2:57pm On Jan 31, 2023
leogho:
Abeg not vex, just copy and paste where e for talk so make we understand u better.

The CBN law is quite straight forward on this issue, lawyers be won use am take get SAN. Find the CBN act read u go know why bro.

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by demoBaba: 2:57pm On Jan 31, 2023
tamdun:

Why won't I accept it if I can just enter any bank and credit my account with it?
It is legal tender until the bank stop accepting it


Don't mind him
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by jahsharon: 2:59pm On Jan 31, 2023
When Tinubu coughs, everybody shivers including Emefiele, Buhari and fake Pastor Judas Osinbajo

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 2:59pm On Jan 31, 2023
rottennaija:
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.

How does this make any sense to you, bank can collect it but people can't spend it, if banks collects it, does that not automatically mean, it's still legal tender

2 Likes 2 Shares

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by womenareapezz: 2:59pm On Jan 31, 2023
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? undecided
remove "smart" from your username undecided

You are obviously a mor⁰n!

2 Likes

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by jorez: 2:59pm On Jan 31, 2023
kennyz247:

try and get or buy some sense na

oga wen get sense explain what old notes seize to be a legal tender from February 10th mean in note more than one sentence.mum.com
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 3:00pm On Jan 31, 2023
tamdun:

Why won't I accept it if I can just enter any bank and credit my account with it?
It is legal tender until the bank stop accepting it

No mind that dummy that made that comment...


People just sabi read but don't have comprehension...
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by GODmyHOW: 3:01pm On Jan 31, 2023
God1000:
Politicians will be be happy with this
. ENGLISH
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 3:03pm On Jan 31, 2023
jorez:
What this simply means is that,when you bring the old Naira note to the banks after the deadline of February 10th,they will take it from us as trash with no monetarily value to your account,meaning zero crediting to your account,Na you go chose either to trash the cash at home or take it to the bank to trash.Either way Na trashing after Feb 10th for old notes


Omo, check your skull, there may be brain leakage there
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by udumosam23(m): 3:04pm On Jan 31, 2023
Dreal1247:
What is the meaning of this statement? We need further explanation.

It means, the CBN by the directives of the president, will periodically open a window of 5-10 days for people stuck with old cash to deposit or swap with the new cash. Only the new cash officially remains a legal tender after the deadline.

This also means, the old note will be like foreign currency, you can't use it to to buy a thing until it's been changed either from the bank or official vendors.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by jorez: 3:04pm On Jan 31, 2023
Omoapena:
oga no credit will be made to your account o,if you like hear if you like change all your money to old notes Na you Sabi.

No mind that dummy that made that comment...


People just sabi read but don't have comprehension...
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Emmynwasmart: 3:05pm On Jan 31, 2023
The funniest thing is that Emifele is a man fighting alone in a country where corruption gathers more weight than integrity, a country that always allows the worst to happen, a country that that loves suffering and smiling, I can see some people celebrating saying that Tinibu will win simply because they know he can now comfortably buy votes at their own expense, praying for a better Nigeria is the worst thing to do

2 Likes

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by BloomingDale(f): 3:05pm On Jan 31, 2023
niyisky:
You think say you get madness for head...you better know say nah some people get this country. Minority wey wan rub shoulders with majority

Minority wey dey feed Agbaya majority.

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by omonnakoda: 3:05pm On Jan 31, 2023
Omoapena:


How does this make any sense to you, bank can collect it but people can't spend it, if banks collects it, does that not automatically mean, it's still legal tender
You are unintelligent.legal tender means the PUBLIC is obliged repeat obliged to accept it for any liability
The naira NOTE s a CBN. liability which can persist long after it ceases to be legal tender

The CBN issues T bills and other fungible paper that the public are not obliged to accept but which banks do

You do not know and are arguing foolishly

4 Likes 2 Shares

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Sholaco: 3:07pm On Jan 31, 2023
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? undecided
Igbo man, no single Sense
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 3:07pm On Jan 31, 2023
baralatie:

Well if the police man catch you dealing with old currency .what will you say?

Wetin concern police concern you say you get old notes?


Chai, Nigerians and their questions sef

2 Likes

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by SKIBiNSKI(m): 3:08pm On Jan 31, 2023
This bullshit was never going to work anyway, politicians has already hoarded the new naira notes, the only fools suffering and running helter skelter like headless chickens are ordinary naigerians.


My friend is a naigerian politician and his bank manager has already changed all his old naira notes to brand new crispy new naira notes for him. cheesy grin corrupt zoo.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Emdebby2: 3:08pm On Jan 31, 2023
Confusion upon confusion.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by KINGBEN1(m): 3:08pm On Jan 31, 2023
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.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by NwokoloOwa: 3:09pm On Jan 31, 2023
Dreal1247:
I hope it is not what I'm thinking that is playing out right now. Nigerians are in for a ride. But I'm happy for the innovation in the elections process. Those hoping to rig the election will be massively disappointed and disgraced.

Which innovation? Can you school on the innovation.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 3:10pm On Jan 31, 2023
omonnakoda:

You are unintelligent.legal tender means the PUBLIC is obliged repeat obliged to accept it for any liability
The naira NOTE s a CBN. liability

You do not know and are arguing foolishly

You're the unintelligent, it is said bank should keep accepting it, so how does something being accepted by the bank not legal tender?

Legal tender means anything generally acceptable as a means of payment and bank is accepting it as a means of payment, even your explanation isn't comprehensible...
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Indispensable85(m): 3:11pm On Jan 31, 2023
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? undecided


Why will he be arrested when he came to honour the invitation that was the reason for the threat to arrest? Una brain don die sha.... tuehhhh....yam head
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 3:11pm On Jan 31, 2023
Nice
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by SpecialAdviser(m): 3:12pm On Jan 31, 2023
Dreal1247:
What is the meaning of this statement? We need further explanation.
Ask him. It's as good as no deadline. Confusion don set in

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Jsucre(m): 3:12pm On Jan 31, 2023
Werey just wake up
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by SKIBiNSKI(m): 3:12pm On Jan 31, 2023
Omoapena:


Wetin concern police concern you say you get old notes?


Chai, Nigerians and their questions sef
That is why it is easy for naigerian crooked politicians to control ignorant naigerians with fear. grin grin i still have old british pound notes from 1990 and police has not arrested me, most naigerians do not know their basic rights.

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 3:12pm On Jan 31, 2023
[quote author=jorez post=120526877][/quote]

Wait, no credit will be made to my account and new notes won't be given to me for bringing old notes..
Is that what you mean?
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by omonnakoda: 3:12pm On Jan 31, 2023
Omoapena:


You're the unintelligent, it is said bank should keep accepting it, so how does something being accepted by the bank not legal tender?

Legal tender means anything generally acceptable as a means of payment and bank is accepting it as a means of payment, even your explanation isn't comprehensible...
bank is accepting as payment for what?I
What is the bank getting PAID FOR?
Stop arguing like an idiot
Go and educate yourself what legal tender means.
After the stated date the public can refuse the notes meaning they are not legal tender but the CBN will redeem through it's agents,the banks

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by JuanDeDios: 3:12pm On Jan 31, 2023
Parachoko:
Can you kindly explain how it will still stop vote buying?
"...with old money".

I'm concerned about the suffering this has brought upon ordinary Nigerians, not vote buying. I think the CBN should focus on monetary policy - as it affects the ECONOMY - and leave stopping vote buying to the DSS and police to handle.

No, I don't think changing money will stop vote buying. I only mentioned that tangentially for the benefit of Emefiele and those who're concerned about it.

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 3:12pm On Jan 31, 2023
DamnnNiggarr:
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.
Whether is a bait or not does not matter

What matter now is that, old notes can be deposit in banks till June or July

Nah the koko b that
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by ufotunang: 3:14pm On Jan 31, 2023
Useless CBN governor... even today Tuesday banks do not have money to give out the new naira notes and even the old naira notes to nigerians... nigerians suffering out there... difficult to withdraw money... even pos centre no money....bad network..no network... nigeria scatter scatter...APC and that dull Buhari has destroyed this country

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