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.

What concerns cbn with election rigging?

Confusion oo

Lamanii22:



That’s how it should have been now… the change of the 100 naira didn’t even show…

As in, they just want to create confusion everywhere and confusion can bring chaos...

Meanwhile presidential election is 25th of February 2023


Ok ooo

ForgetfulJones:
banks will collect and forward to CBN, it won't be paid out anymore.

Until 17th of February, after 17th of February, banks will stop collecting and it becomes useless to any holder....

LibertyRep:
This policy implementation is chaotic.

How can two men be playing Ludo with the welfare and wellbeing of over 200million Nigerians?

because they know the over 200million people can't really do sh!t

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

If Godwin had articulated it like this, we wouldn't be here wasting man-hours arguing this nonsense.

rottennaija:


It's not going to be indefinite. I think it's just 10days or so after February 10.

Till June or July

That defeat the purpose. If banks would accept the old notes, then I can accept it if I plan to go to bank.

What happened to all the tough talks of not extending the deadline?

Omoapena:


It's legal tender till banks stops accepting it to credit your account...

No That is not correct
Stop arguing blindly
This is GCE stuff
Read
https://www.rte.ie/news/business/2022/1001/1325974-paper-l20-and-l50-no-longer-legal-tender-in-uk/

And learn

Legal Tender refers to PUBLIC use period

LibertyRep:
This policy implementation is chaotic.

How can two men be playing Ludo with the welfare and wellbeing of over 200million Nigerians?

The same idiot who caused panic and chaos by saying the deadline won't be extended and people should be rejecting old naira notes is now quoting what he should have made a reference to before?

He is demented and needs arrest ASAP for causing so much trouble.

omonnakoda:
No That is not correct
Stop arguing blindly
This is GCE stuff

I'm done arguing, all I know is, since banks are given till 17th February to stop accepting it, then it's legal tender till that 17th.

#sighs

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

where did you get this information .go and read section 22 of cbn act .bank will still collect it next year the reason they are still collecting that old 100 naira just that they will not give it out but they can collect it

omonnakoda:
No That is not correct
Stop arguing blindly
This is GCE stuff
Read
https://www.rte.ie/news/business/2022/1001/1325974-paper-l20-and-l50-no-longer-legal-tender-in-uk/

And learn

Legal Tender refers to PUBLIC use period

Wait, so commercial banks are not public?

So what is the meaning of the deadline then?So what is the meaning of the deadline then?...

The CBN Governor personally read a statement at a press briefing where he said

1. Old notes will be accepted at commercial banks till the 10th of Feb

2.After the 10th it will be collected only at the APEX bank (CBN) till the 17th

Hope you all know by law he is covered by that public statement on his policy when commercial banks stop collecting your money after the 10th

And for those with fraudulently earned cash let's see how you explain your deposit of large sums directly to the CBN.

People need to be clear on this things and stop muddling the news up especially when the man personally read a press statement.

Plus I don't get what all the noise is about, those with genuinely earned old notes have nothing to be afraid of ,they should go and deposit it. how hard is that?

[

Omoapena:



Wait, so commercial banks are not public?

Are they receiving the money as payment in exchange for a Good or service? No
Legal tender means it is TENDERED as payment

LibertyRep:
This policy implementation is chaotic.

How can two men be playing Ludo with the welfare and wellbeing of over 200million Nigerians?

The idiotic olodo worst CBN Governor is playing with 200 million.

Omoapena:






I'm done arguing, all I know is, since banks are given till 17th February to stop accepting it, then it's legal tender till that 17th.

#sighs

https://www.rte.ie/news/business/2022/1001/1325974-paper-l20-and-l50-no-longer-legal-tender-in-uk/

Do not argue like a fool
Educate yourself

Wilson212:
where did you get this information .go and read section 22 of cbn act .bank will still collect it next year the reason they are still collecting that old 100 naira just that they will not give it out but they can collect it

Are you kidding me, where are you people getting this thing from, do you know that both the old and new 100naira notes are still being spent?

So if people are spending it and banks are collecting it, how does it not make it legal tender..


Oga, stop confusing yourself, the deadline is 17th of February and banks won't collect it after 17th of February.

I don't know the Essence if bank will keep collecting it till next year, if banks keeps collecting it till next year, will they credit your account for bringing the old notes?

omonnakoda:
https://www.rte.ie/news/business/2022/1001/1325974-paper-l20-and-l50-no-longer-legal-tender-in-uk/

Do not argue like a fool
Educate yourself

You're the one arguing like a fool...and you need to educate yourself or probably understand what I'm saying, banks are given till 17th and after 17th, they will also reject it, rejection means you can't save it, they can seize it tho but you can't change or save it after 17th...



Fuuul.

I'm very worried about how we all don't stay abreast with our country policies in detail before commenting.its like people just parrot what others say as fact

You all need to have tracked his press briefing and analyzed it in detail. How hard is that.


Youths need to do better.

Omoapena:



You're the one arguing like a fool...and you need to educate yourself or probably understand what I'm saying, banks are given till 17th and after 17th, they will also reject it, rejection means you can't save it, they can seize it tho but you can't change or save it after 17th...



Fuuul.

No The import of today's statement by Emefiele rescinds the 17th date
This is what he said
Section 20 says even after the old currency has lost its legal tender status that we are mandated to collect that money. And I stand with the House of Reps on this
https://punchng.com/banks-will-accept-old-notes-after-deadline-emefiele/

You keep arguing like an idiot

It loses legal tender status on the 10th and they will collect the notes BEYOND the 17th

phineas:
The CBN Governor personally read a statement at a press briefing where he said

1. Old notes will be accepted at commercial banks till the 10th of Feb

2.After the 10th it will be collected only at the APEX bank (CBN) till the 17th

Hope you all know by law he is covered by that public statement on his policy when commercial banks stop collecting your money after the 10th

And for those with fraudulently earned cash let's see how you explain your deposit of large sums directly to the CBN.

People need to be clear on this things and stop muddling the news up especially when the man personally read a press statement.

Plus I don't get what all the noise is about, those with genuinely earned old notes have nothing to be afraid of ,they should go and deposit it. how hard is that?

This is now getting more confusing,

Is it that commercial banks will start rejecting after 10th of February or they are given till 17th of February to collect it.

The hard part is withdraw not deposit. No money to withdraw both new and old in ATM, POS and even banking hall

phineas:
The CBN Governor personally read a statement at a press briefing where he said

1. Old notes will be accepted at commercial banks till the 10th of Feb

2.After the 10th it will be collected only at the APEX bank (CBN) till the 17th

Hope you all know by law he is covered by that public statement on his policy when commercial banks stop collecting your money after the 10th

And for those with fraudulently earned cash let's see how you explain your deposit of large sums directly to the CBN.

People need to be clear on this things and stop muddling the news up especially when the man personally read a press statement.

Plus I don't get what all the noise is about, those with genuinely earned old notes have nothing to be afraid of ,they should go and deposit it. how hard is that?

Omoapena:



Are you kidding me, where are you people getting this thing from, do you know that both the old and new 100naira notes are still being spent?

So if people are spending it and banks are collecting it, how does it not make it legal tender..


Oga, stop confusing yourself, the deadline is 17th of February and banks won't collect it after 17th of February.

I don't know the Essence if bank will keep collecting it till next year, if banks keeps collecting it till next year, will they credit your account for bringing the old notes?

oga go and read section 20 and 22 of cbn act if I take 20000 of old 100 note they will collect it yes it is not a. Legal tender but the law said it should be collected and the value of it given to you

[quote author=kaeycea post=120526707][/quote]
omonnakoda

Idiot

This is it here

Extension for commercial banks till 17th of February

Buksaylor:


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

you can if you chose to and take it to the bank afterwards

Wilson212:
oga go and read section 20 and 22 of cbn act if I take 20000 of old 100 note they will collect it yes it is not a. Legal tender but the law said it should be collected and the value of it given to you

Lol

It can serve as a legal tender by me or anyone and taken to the bank afterwards to swap with the new notes

The purpose is obviously defeated

Wilson212:
oga go and read section 20 and 22 of cbn act if I take 20000 of old 100 note they will collect it yes it is not a. Legal tender but the law said it should be collected and the value of it given to you

Simple

Britishpea:

How slow can u be? They threatened to arrest him if he doesn’t show up. And he showed up and to explain himself. Came out with modifications to the policies. Like I said, educational backgrounds of some of you are questionable

You get time ooo