The new naira policy will hit the politician most during election hence their running up nd down.

Moreover, many Nigerians are suffering from the policy too because of those greedy bank manager that refuse to load the ATM with new note and inaccessible to it on counter.
If every individual can withdraw max of 100,000 - 200,000 in a week without stress, no sane person will accused Buhari and Emefiele.

unclejb2:
E go shock una.

Obi supporter

Na everything dey shock una😀

The sudden love for naija go end after the election no worry

Only evil people, devils, will say this is a good policy. This policy was designed by Emefiele and Tunde Sabiu Buhari’s nephew as a vendetta against Tinubu. It must be stopped.

DIVINEEVIDENCE:


If its no punishment to the cabal, ask yourself why politicians have turned to emergency voice of the people, criticising the policy at every given opportunity.

Its left for the ordinary man to deposit all his money in the bank.
Once we pass the deadline, the available cash will circulate, achieving economic balance.
If there's serious deficit, its left for the CBN to print more notes representative of the amount that should be in circulation.

Unfortunately, the average Nigerian has no knowledge of macroeconomics and would kick against any policy that does not presently favour him, its future long-term benefits notwithstanding.

To think that Nigerians just about 11 years ago took to the streets massively protesting and destroying lives and properties over removal of fuel subsidy by the Jonathan administration.

IF POLITICIANS WHO CARES AND OR CLAIMED TO CARE ABOUT BOTH THE COUNTRY AND PEOPLE CANNOT SPEAK OUT ABOUT THEIR EXCRUCIATING PAINS FROM GETTING THEIR HARD-EARNED MONEY. YOU SHOULD ASK YOURSELF WHY ARE THEY IN POLITICS.

What has macroeconomics - which i have just discovered that you lack knowledge about, going by your statement - got to do with AVAILABILITY of it?

I DO NOT KNOW YOUR AGE. IF YOU KNOW THE NUMBER OF TIMES Nigeria HAS CONDUCTED THE EXERCISE OF CURRENCY CHANGE AND SEEMLESSLY.

You people should go learn about the history of Nigeria before making unsavory uninformed thoughtless statements about your country.

I HAVE LONG AVERED AND CONCLUDED THAT THE AVERAGE Nigerian IN YOUR CLICHE IS NOT WORTH FIGHTING FOR. YOU ARE NOT EVEN WORTHY OF MY THOUGHT CONSIDERATION, LET ALONE FIGHT FOR YOU. SUCH UNDESIRABLE ELEMENTS, TOO MANY IN OUR MIDST.

Why not ask yourself. The reason for monetary change policy at the same time you the country is having electioneering exercise. Maybe you should spend your time pondering about such question and the reasons why the CBN was neither prepared or ready for the current fallout from the SENSELESS indifferent and meaningless exercise of Naira change at a very wrong inauspicious time.

IF ONLY YOU PEOPLE WILL START USING YOUR BRAINS WELL AND APPROPRIATELY. THERE AND THEN WILL THE COUNTRY BE BETTER FOR THE COUNTRY AND ALL HER PEOPLE.

Impaka:
you need brain test,mark today's date Tinubu can never be president even in my next world

LOl

Tinubu will lord over you and your entire kindred just as Buhari is currently rulling over them

Didi2d:


I don't understand! If buhari is as pure and clean as you claim, why is the country still at mess?

Nigeria problem pass government.

Is it Buhari that told banks to set up queues, hoard number 1 to 15 and start selling the slots for #1,500 each?

Is it Buhari that told banks to be hoarding new naira notes to sell behind the curtains to politicians?

Is it Buhari that told ipob to be declaring seat at home in the east that ravaged eastern economy?

Nigeria problem pass government!

I know Buhari has Nigerias interest at heart

in life we all make a very drastic mistakes, Tinubu made a big mistake supporting this dunce of empty head in 2015, he should have supported kwankwanso to win the ticket because without Tinubu support at the primary, Atiku would have won that primary with dollars



Buhari is a complete failure of father, family man and a president, an incompetent and illiterate integrity crooner that don't regards both judiciary and legislature



on a norm, APC govs shouldn't be the one lobbying for the new naira swap extension, it should have been the national assembly which luckily have his party men dominating but because of his useless ego he won't listen




Buhari just disgrace himself whether he extend it or not, if Tinubu win this election, he does personally on his political interrelationship outside of his region and not because this Buhari who was given a platform but failed to impress Nigerians



kwankwaso wouldn't have repay Tinubu back with backstabbing that's for sure, the evidence is the Ganduje his deputy getting his support as gov in 2014

Ennoloa:

Thunder wey go strike you dey do gym now na small thing remain make Thunder send you to ur ......

GOTVee:
Even though I'm a born again Christian, I will not deceive myself like my fellow Christians rooting for Peter Obi because every sane Christian knows he can never win. Those rejoicing over this naira redesign policy are doing so because they expect a protest vote against the ruling party which in their delusion will favor Obi . The naira redesign policy is a senseless one meant to scuttle the peace atmosphere we have in the country. We patriotic Nigerian Christians reject the wicked policy. And to those dumb Obidients rejoicing over this, "Heaven wan fall no be on top one man head". Peter Obi's chances at the polls is just like the chances of a gambler who played correct scores. It will surely end in pains. We Nigerians Christians reject the candidacy of Peter Obi.

Most of those shouting in support of the implementation of the currency policy don’t have businesses that run daily on cash.

A lot of them are miscreants who depend on others for food.

Truth be told, a lot of businesses have witnessed a downturn in patronage simply because Banks are not even ready for this cash policy and their online platforms are failing as a result of ill preparedness

UnfairLife7:
it will be worse off if the deadline isn't extended. The money hasn't go round now is it after Friday deadline it will go round?

The politicians and big men will hoard it more for themselves. It's the masses that will suffer

This might lead to anarchy in the state

I will suggest the new and old money should run simultaneously until the old notes phases out

I can't use because of few politicians to cause unrest and possibly anarchy in the country

The main reason for the redesign is to MOP UP unbanked notes.

That is, Naira notes that are outside of banks and not circulating through transactions: piggy banks account for a small fraction of these monies while the laundered loots of politicians and criminals account for the larger share.

If all these monies or at least a large part of them are banked, the new withdrawal policy will further tighten loose cash and ensure more money circulates digitally within the economic system than goes out of it.

This will also curb laundering as you'll rather transfer billions instantly via digital means than withdraw it piecemeal everyday for one year to get the amount you need.

Thus, nearly every heavy transaction will leave a digital footprint which can be easily traced.

As for cash going round, that's not an issue.

Once the deadline elapses, CBN will simply review what's in the banks and what's in circulation, and print more notes to cushion scarcity if present.

Also, there's currently a rush for cash which will subside after the deadline as more vendors and suppliers port to digital means of payment, rather than via physical cash.

I sincerely pray CBN and the FG rubbish the sinister intents of our governors and politicians in today's meeting.

Amen.

GOTVee:
Even though I'm a born again Christian, I will not deceive myself like my fellow Christians rooting for Peter Obi because every sane Christian knows he can never win. Those rejoicing over this naira redesign policy are doing so because they expect a protest vote against the ruling party which in their delusion will favor Obi . The naira redesign policy is a senseless one meant to scuttle the peace atmosphere we have in the country. We patriotic Nigerian Christians reject the wicked policy. And to those dumb Obidients rejoicing over this, "Heaven wan fall no be on top one man head". Peter Obi's chances at the polls is just like the chances of a gambler who played correct scores. It will surely end in pains. We Nigerians Christians reject the candidacy of Peter Obi.

Babalawo say him be christian. Very useless human being like him papa Bulaba Escobar

Ennoloa:

Thunder wey go strike you dey do gym now small thing remain make Thunder send you to ur ......

Born again kill you there. Rented fake urchin claiming born again.

GOTVee:
Even though I'm a born again Christian, I will not deceive myself like my fellow Christians rooting for Peter Obi because every sane Christian knows he can never win. Those rejoicing over this naira redesign policy are doing so because they expect a protest vote against the ruling party which in their delusion will favor Obi . The naira redesign policy is a senseless one meant to scuttle the peace atmosphere we have in the country. We patriotic Nigerian Christians reject the wicked policy. And to those dumb Obidients rejoicing over this, "Heaven wan fall no be on top one man head". Peter Obi's chances at the polls is just like the chances of a gambler who played correct scores. It will surely end in pains. We Nigerians Christians reject the candidacy of Peter Obi.

DIVINEEVIDENCE:


The main reason for the redesign is to MOP UP unbanked notes.

That is, Naira notes that are outside of banks and not circulating through transactions: piggy banks account for a small fraction of these monies while the laundered loots of politicians and criminals account for the larger share.

If all these monies or at least a large part of them are banked, the new withdrawal policy will further tighten loose cash and ensure more money circulates digitally within the economic system than goes out of it.

This will also curb laundering as you'll rather transfer billions instantly via digital means than withdraw it piecemeal everyday for one year to get the amount you need.

Thus, nearly every heavy transaction will leave a digital footprint which can be easily traced.

As for cash going round, that's not an issue.

Once the deadline elapses, CBN will simply review what's in the banks and what's in circulation, and print more notes to cushion scarcity if present.

Also, there's currently a rush for cash which will subside after the deadline as more vendors and suppliers port to digital means of payment, rather than via physical cash.

I sincerely pray CBN and the FG rubbish the sinister intents of our governors and politicians in today's meeting.

Amen.

This is not the first time Nigeria has redesigned her notes without having this crisis and unrest in the country


It will be extended further (possibly 3-6 months)

ugbarreta:
Please why are apc governors putting too much pressure on PMB and Emefiele? Please we don’t want any further extension, new note and the old one should not coexist. February 10th should be February 10th simple. Say no to vote buying.

You prefer the current hardship so people will vote against APC.

fergie001:


SOURCE

This buhari self, endless meetings with nothing to show for it,all that is needed is decisive action, surely the CBN must given the new notes to the banks for further distribution n dispensing through their various branches and ATMs,so simply get the CBN to produce the record of allocation to the banks,n each bank should produce their records of allocation to all their branches and cash centres,then any branch not dispensing the new notes should explain why not,any bank official implicated in hoarding the new notes should be dealt with severely for others to fall into line,but instead buhari is having endless meetings, it's clear that these people know they can easily run rings around buhari that's why all this nonsense is going on,look at the fuel issue,the IPMAN said the depot operators holding fuel on behalf of the NNPC don't sell to them at the right price,what stop the government from descending on the depot operators so that IPMAN wouldn't have any excuse!, that's why this country right now needs Peter obi who is intellectually sound, physically fit, business experienced n administratively proven to be the next president.

OkoRemi2023:
in life we all make a very drastic mistakes, Tinubu made a big mistake supporting this dunce of empty head in 2015, he should have supported kwankwanso to win the ticket because without Tinubu support at the primary, Atiku would have won that primary with dollars



Buhari is a complete failure of father, family man and a president, an incompetent and illiterate integrity crooner that don't regards both judiciary and legislature



on a norm, APC govs shouldn't be the one lobbying for the new naira swap extension, it should have been the national assembly which luckily have his party men dominating but because of his useless ego he won't listen




Buhari just disgrace himself whether he extend it or not, if Tinubu win this election, he does personally on his political interrelationship outside of his region and not because this Buhari who was given a platform have impress Nigerians



kwankwaso wouldn't have repay Tinubu back with backstabbing that's for sure, the evidence is the Ganduje his deputy getting his support as gov in 2014

This old fool stfu, look at what you are writing all over nairaland, and you think you have sense.
Useless bastard..

You now dodge my mentions just like the failure you are and have always been..

Okoremi gbuo gi there idiott.

Next time you will never quote your papa again with that your dirty ewedu stench paralysed hand.

The only they know is to put on agbada.....

Bad politicians#

GOTVee:
Even though I'm a born again Christian, I will not deceive myself like my fellow Christians rooting for Peter Obi because every sane Christian knows he can never win. Those rejoicing over this naira redesign policy are doing so because they expect a protest vote against the ruling party which in their delusion will favor Obi . The naira redesign policy is a senseless one meant to scuttle the peace atmosphere we have in the country. We patriotic Nigerian Christians reject the wicked policy. And to those dumb Obidients rejoicing over this, "Heaven wan fall no be on top one man head". Peter Obi's chances at the polls is just like the chances of a gambler who played correct scores. It will surely end in pains. We Nigerians Christians reject the candidacy of Peter Obi.

'Dumb' clout chaser.
You have never sounded dumber and will never sound dumber than this.

Mickykarim:



IF POLITICIANS WHO CARES AND OR CLAIMED TO CARE ABOUT BOTH THE COUNTRY AND PEOPLE CANNOT SPEAK OUT ABOUT THEIR EXCRUCIATING PAINS FROM GETTING THEIR HARD-EARNED MONEY. YOU SHOULD ASK YOURSELF WHY ARE THEY IN POLITICS.

What has macroeconomics - which i have just discovered that you lack knowledge about, going by your statement - got to do with AVAILABILITY of it?

I DO NOT KNOW YOUR AGE. IF YOU KNOW THE NUMBER OF TIMES Nigeria HAS CONDUCTED THE EXERCISE OF CURRENCY CHANGE AND SEEMLESSLY.

You people should go learn about the history of Nigeria before making unsavory uninformed thoughtless statements about your country.

I HAVE LONG AVERED AND CONCLUDED THAT THE AVERAGE Nigerian IN YOUR CLICHE IS NOT WORTH FIGHTING FOR. YOU ARE NOT EVEN WORTHY OF MY THOUGHT CONSIDERATION, LET ALONE FIGHT FOR YOU. SUCH UNDESIRABLE ELEMENTS, TOO MANY IN OUR MIDST.

Why not ask yourself. The reason for monetary change policy at the same time you the country is having electioneering exercise. Maybe you should spend your time pondering about such question and the reasons why the CBN was neither prepared or ready for the current fallout from the SENSELESS indifferent and meaningless exercise of Naira change at a very wrong inauspicious time.

IF ONLY YOU PEOPLE WILL START USING YOUR BRAINS WELL AND APPROPRIATELY. THERE AND THEN WILL THE COUNTRY BE BETTER FOR THE COUNTRY AND ALL HER PEOPLE.

You think you know more macroeconomics than the CBN Governor?

I'll recommend you go watch his various statements and interviews on this policy.
The videos are all over YouTube.

If you don't realise the importance of a policy that seeks to tighten the currency and restore unbanked notes into the mainstream financial system, then I shouldn't trust your judgement on anyone's understanding of fiscal policy.

Good day.

As for your your second point, read up my last response to UnfairLife7.

GOTVee:
Even though I'm a born again Christian, I will not deceive myself like my fellow Christians rooting for Peter Obi because every sane Christian knows he can never win. Those rejoicing over this naira redesign policy are doing so because they expect a protest vote against the ruling party which in their delusion will favor Obi . The naira redesign policy is a senseless one meant to scuttle the peace atmosphere we have in the country. We patriotic Nigerian Christians reject the wicked policy. And to those dumb Obidients rejoicing over this, "Heaven wan fall no be on top one man head". Peter Obi's chances at the polls is just like the chances of a gambler who played correct scores. It will surely end in pains. We Nigerians Christians reject the candidacy of Peter Obi.

You're not only A YORUBA MUSLIM BUT A WELL WELL TERRORIST.

PETER OBI WILL BE YOUR NEXT PRESIDENT.

Dyke15:
Just look at how d governors re running up ND down coz d money they hid in pits and warehouses will soon rot away
Now ;
*when ASUU embarked on strike
*Fulani militias were killing people in every state of which they re still doing till now
*Hunger, poverty and hardship inflicted on us by their useless administration, where were they?
I won't even talk about their presidential candidate coz his breakfast is already done. We re only waiting for the feast day being 25th of February for him to be served

They should deposit the money back into the state treasury (depending on the state, it might reach Billions of naira, with a "B".

GOTVee:
Even though I'm a born again Christian, I will not deceive myself like my fellow Christians rooting for Peter Obi because every sane Christian knows he can never win. Those rejoicing over this naira redesign policy are doing so because they expect a protest vote against the ruling party which in their delusion will favor Obi . The naira redesign policy is a senseless one meant to scuttle the peace atmosphere we have in the country. We patriotic Nigerian Christians reject the wicked policy. And to those dumb Obidients rejoicing over this, "Heaven wan fall no be on top one man head". Peter Obi's chances at the polls is just like the chances of a gambler who played correct scores. It will surely end in pains. We Nigerians Christians reject the candidacy of Peter Obi.

Born again in fire just like you did before. Make you dey Play

Didi2d:


I don't understand! If buhari is as pure and clean as you claim, why is the country still at mess?

Because one man cannot deliver this country from corruption.

Tinubu alone cannot
Obi alone cannot
Atiku alone cannot

Instead of governors, bank managers to act positively on this matter so that the masses will not feel the effect, we can all see that they are doing the opposite.

Las las even Buhari is not a saint. He is just less crooked compared to some of these people.

UnfairLife7:
This is not the first time Nigeria has redesigned her notes without having this crisis and unrest in the country


It will be extended further (possibly 3-6 months)

This one is covertly intended to curb vote-buying during the coming elections.

Ideally, the Buhari administration is making plans to make the coming elections quite a transparent one (according to what presently meets the eye.)

The crisis we have is as a result of bank managers swapping cash for politicians rather than dispensing it to the public via ATMs.

A single politician could soak up all the billions intended for circulating through the banks.

CBN has notes printed.
Emefiele has said it time and again that they have enough fresh notes, that banks should simply come forward and swap them for the old.

Now, banks have to deposit old notes and pick fresh ones for circulation.

But when they accept billions of old notes in an apparent laundering scheme, it becomes difficult for them to return to the CBN for fresh notes as they'll have to explain the deposits of old notes which did not pass through due process/via accounts whose holders could explain the sources of their funds.

As such, they naturally resorted to loading old notes into ATMs while instead of going to the CBN, while mounting pressure on their criminal/political beneficiaries to press the right buttons to salvage the situation.

CBN has already said it would go after bank executives whose ATMs are not dispensing new notes so the whole policy is currently rigged against the corrupt bank managers who greedily implicated themselves and criminal-minded money launderers.

chiiraq802:
All those Nukes and Hypersonic missiles weh Russia dey waste ontop Ukraine, na for that meeting venue we need am.

I don't why this sounds funny Sha 😂🤣😂🤣

Comrade you sure say you go make heaven so 😁

SadiqBabaSani:
Guess what, Naira swap will be jettisoned

A high court is in place already barring them not to shift the date or discontinue.

TheNiceGuy:
You'll be disgraced.

Wether they go ahead or not, Obi can NEVER be President. I don't know who's fooling you obingo.
Ipob infested brain

You are too pained. Hunger don reset your brain this period.

GOTVee:
Even though I'm a born again Christian, I will not deceive myself like my fellow Christians rooting for Peter Obi because every sane Christian knows he can never win. Those rejoicing over this naira redesign policy are doing so because they expect a protest vote against the ruling party which in their delusion will favor Obi . The naira redesign policy is a senseless one meant to scuttle the peace atmosphere we have in the country. We patriotic Nigerian Christians reject the wicked policy. And to those dumb Obidients rejoicing over this, "Heaven wan fall no be on top one man head". Peter Obi's chances at the polls is just like the chances of a gambler who played correct scores. It will surely end in pains. We Nigerians Christians reject the candidacy of Peter Obi.

Yellow bar mooslim.

EmekaMD:
Imagine if Tinubu and APC governors showed this enthusiasm when ASUU was on strike.

Tinubu has packed about 10 bullion vans of old naira notes and now shivering as Emefiele wants to burst his arse..

Bros...you will recall that the Speaker to the House of Representatives, Femi Gbajabiamila visited Buhari a couple of times to discuss the ASUU strike and it was after a number of meetings and interventions that the Federal Government shifted ground and the strike was called off.

Fine...the Governors should have done more but all the same, the Speaker made some impact.

ifytrik:
No going back, the cabals and enemies of nigeria must not succeed in riging this election.

cus of elections ur people should die of hunger

Didi2d:


I don't understand! If buhari is as pure and clean as you claim, why is the country still at mess?

Are you minding the guy you quoted?

Check his comments...he might have cursed Buhari on a number of occasions in the last 8 years. But now that him and his ilk perceive that Buhari seems to be opposed to their Number 1 enemy in life (Tinubu), Buhari has suddenly become a saint...who can do no wrong.

SMH!