opera1:
Long overdue, after killing and destruction of properties. He's 's not sensitive enough.

It's deliberate

GOD BLESS THIS MOD

In short 200 old notes pumped back into circulation while the 500 and 1000 old notes be deposited through cbn created online platform till April 10

EmekaMD:
Team Buhari and Emefiele don knack Team BATin and Hellrufia akpako.

make uno go cook soup with all the old notes wey una don stockpile..

chia.

Wike dey press PDP neck

Emefiele dey press APC neck.

God dey with Labour party.

May the labours of our heroes noy be in vain

LP that 90% of its members have decamped?

President Buhari is unpredictable

Racoon:
https://www.vanguardngr.com/2021/12/buhari-at-79-a-man-given-so-much-who-gives-so-little-back

PDP is never an option

HomeTutorsPro:

If you collect 500 and 1000, you can only deposit it at the CBN.
I don't think that's much good news, is it?

If people can still spend the old ₦500 and ₦1000, then is still fair

hegelian:


he be like day we dey hear different thing.. dey play ok...1000,500 stopped being legal tender from 10th feb

Exactly people were not attentive, 500&1000 otilor

07kjb:



Stop deceiving the people,only old #200 is the legal tender

Okay

Tflex01:


Matter still dey supreme court.

That one no concern Buhari o😀😀😀

princeogbeide1:
APC is Human Error

Imagine in 8 years a president address e citizens 2 times .

This man na curse just like Bola Ahmed.

When channels TV calls for presidential debate, he will hide. Illiteracy is a disease.

CAN YOU JUST STOP BEING STUPID JUST FOR A MOMENT!!!?
you are playing to buhari's trap. You vote against APC. your Obi is never gonna be 2nd. You gonna get Atiku in. Another fulani. Obi is just a spoiler. WAKE UP!!!!!!!

Hendrixky:
Wait tinubu think Nigerians are fools?
The world is now going to realise that South West is not really educated they way they always claimed and secondly they are more tribalistic....let me see that my friend called Kunle that will say again that they are educated...infact na better slap I go give am..this election just exposed the south west
Owo massacre - No protest from APC and tinubu
Lekki tollgate massacre - No protest from APC and tinubu
Multiple Benue massacre - No protest from APC and tinubu
Southern Kaduna massacre - No protest from APC and tinubu

ASUU strike- no protest from Apc and tinubu
CBN deadline - massive protest from APC because their thieving governors are stuck with illicit cash

If you are educated and still you didn't notice this then your education is a waste

OR

APC made a monetary policy

- APC started complaining about it APC’s policy

- APC says APC has introduced this policy to stop APC from winning the election for APC

- APC went to court to stop APC’s policy

- APC politician is the CBN governor

- APC is the ruling party

- APC is the opposition party

- APC justices at Supreme Court tried to stop APC

- APC refused to obey APC’s court order.

- APC campaign slogan is Rescue mission.

- APC wants to rescue APC from APC.

- APC is currently on trial against APC.

It is obvious you don’t have Yoruba friends . Stop your myopic monologue and ask around . Almost 80 percent of my Yoruba friends are voting Obi . They are very adamant about it . So stop talking shit you know nothing about . Yorubas don’t follow anybody like zombies . Go and check our political history . We don’t support even our own blindly .

tinsel:
200 naira to be released back to the economy. 500 and 1000 notes continue to be legal tender until April

So you are this dull,gosh!
Only old 200 remain legal tender.
Old 500,1000 remain useless!!

gayman99:
Tinubu is finished. Buhari has sealed his fate.

Dey there dey mumu. You think he doesn't have the new note yet?

truthCoder:
Old 200 naira released back into circulation.

Very smart move Buhari.

CAN YOU JUST STOP BEING STUPID JUST FOR A MOMENT!!!?
you are playing to buhari's trap. You vote against APC. your Obi is never gonna be 2nd. You gonna get Atiku in. Another fulani. Obi is just a spoiler. WAKE UP!!!!!!!

Parachoko:
Relax and listen to him well, though only ₦200 will be release, ₦500 and ₦1000 are still legal tenders till April

I might be wrong though, e no easy to hear the man well

Like I mentioned before you always propagate false news, I will advice you to stop before it's too late.

Old 500 and 1000 notes remain bound in Nigeria since 10th February, 2023.
Only old 200 naira note is valid till 10th April, 2023.
Nigerian wins over evil politicians

So that wicked soul did not say anything about making new notes available to Nigerians?

Omotosho1090905:
In short 200 old notes pumped back into circulation while the 500 and 1000 old notes be deposited through cbn created online platform till April 10

Go to the bank if you will see the 200 notes.

Mynd44:
https://www.youtube.com/live/-c8LoR84Xjs?feature=share


https://www.youtube.com/live/fURT1dZ-Od0?feature=share

Wow nairaland is the best

#3,7Triliion in circulation in 2022and more than 80%of this is outside the bank,
Seriously this isn't good, the policy is very necessary but wrongly implemented

Ken4Christ:
But 200 notes have never been in good quantity. This will still bring untold hardship. Mr President was ill advised.

In addition, he should have confirmed that the banks already have this 200 naira and new notes to give to customers.

If you go to the bank now, you won't see the 200 notes or the new notes.

So, why create a problem without providing solutions?

That N200 is very scarce

Tflex01:


LP that 90% of its members have decamped?

in your imagination.

dey play

sslcrypt:


Like I mentioned before you always propagate false news, I will advice you to stop before it's too late.

I hope you're not drunk? Cause I don't even know who you are, and you are here accusing me of what I dont know about

I made it clear that I might be wrong

Davies25:
Make we hear what the unfeeling egomaniac wan say.
Dumbest President that ever lived.
So what happens to the 500 and 1k notes in circulation?

Is it our Darling Daddy you are talking to like that. Anyway I can perceive the stench of Agbado even though I am miles away from you. Continue capping rubbish.

theforemost:


CAN YOU JUST STOP BEING STUPID JUST FOR A MOMENT!!!?
you are playing to buhari's trap. You vote against APC. your Obi is never gonna be 2nd. You gonna get Atiku in. Another fulani. Obi is just a spoiler. WAKE UP!!!!!!!

Atiku's presidency favours Obi

This won't change nothing, the suffering will still continue.

newmoney133:
So that wicked soul did not say anything about making new notes available to Nigerians?

He categorically stated that he has directed the CBN to make quality efforts towards providing the commercial banks with new notes so Citizens can have seamless withdrawals.

Your own data na to carry abuse people up and down! To listen to information, even if it's to save your own life, na taboo!

PresidentAtiku:
where did you watch your own broadcast?

Only 200 Naira notes remain valid for 60 days

May be he watched the broadcast from the back of black and white TV

NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023

My Dear Compatriots,

​I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors.

2.​Particularly, I am addressing you, as your democratically elected President, to identify with you and express my sympathy, over the difficulties being experienced as we continue the implementation of new monetary policies, aimed at boosting our economy and tightening of the loopholes associated with money laundering.

3.​Let me re-assure Nigerians, that strengthening our economy, enhancing security and blockage of leakages associated with illicit financial flows remain top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.

4.​In the last quarter of 2022, I authorised the Central Bank of Nigeria (CBN) to redesign the N200, N500, and N1000 Nigerian banknotes.

5.​For a smooth transition, I similarly approved that the redesigned banknotes should circulate concurrently with the old bank notes, till 31 January 2023, before the old notes, cease to be legal tender.

6.​In appreciation of the systemic and human difficulties encountered during implementation and in response to the appeal of all citizens, an extension of ten days was authorized till 10th February, 2023 for the completion of the process. All these activities are being carried out within the ambit of the Constitution, the relevant law under the CBN Act 2007 and in line with global best practices.

7.​Fellow citizens, while I seek your understanding and patience during this transient phase of implementation, I feel obliged to avail you a few critical points underpinning the policy decision. These include:

a. The need to restore the statutory ability of the CBN to keep a firm control over money in circulation. In 2015 when this administration commenced its first term, Currency-in-Circulation was only N1.4trillion.
b. The proportion of currency outside banks grew from 78%in 2015 to 85% in 2022. As of October 2022, therefore, currency in circulation had risen to N3.23 trillion; out of which only N500 billion was within the Banking System while N2.7 trillion remained permanently outside the system; thereby distorting the financial policy and efficient management of inflation;
c. The huge volume of Bank Notes outside the banking system has proven to be practically unavailable for economic activities and by implication, retard the attainment of potential economic growth;
d. Economic growth projections make it imperative for government to aim at expanding financial inclusion in the country by reducing the number of the unbanked population; and

e. Given the prevailing security situation across the country, which keeps improving, it also becomes compelling for government to deepen its continuing support for security agencies to successfully combat banditry and ransom-taking in Nigeria


8.​Notwithstanding the initial setbacks experienced, the evaluation and feedback mechanism set up has revealed that gains have emerged from the policy initiative.

9.​I have been reliably informed that since the commencement of this program, about N2.1 trillion out of the banknotes previously held outside the banking system, had been successfully retrieved.

10.​This represents about 80% of such funds. In the short to medium and long terms, therefore, it is expected that there would be:

a. A strengthening of our macro economic parameters;
b. Reduction of broad money supply leading to a deceleration of the velocity of money in the economy which should result in less pressures on domestic prices;
c.Lowering of Inflation as a result of the accompanying decline in money supply that will slow the pace of inflation;
d. Collapse of Illegal Economic Activities which would help to stem corruption and acquisition of money through illegal ways;
e. Exchange Rate stability;
f. Availability of Easy Loans and lowering of interest rates; and
g. Greater visibility and transparency of our financial actions translating to efficient enforcement of our anti- money laundering legislations.
11.​I am not unaware of the obstacles placed on the path of innocent Nigerians by unscrupulous officials in the banking industry, entrusted with the process of implementation of the new monetary policy. I am deeply pained and sincerely sympathise with you all, over these unintended outcomes.

12.​To stem this tide, I have directed the CBN to deploy all legitimate resources and legal means to ensure that our citizens are adequately educated on the policy; enjoy easy access to cash withdrawal through availability of appropriate amount of currency; and ability to make deposits.

13.​I have similarly directed that the CBN should intensify collaboration with anti-corruption agencies, so as to ensure that any institution or person(s) found to have impeded or sabotaged the implementation should be made to bear the full weight of the law.

14.​During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well meaning citizens and institutions across the nation.

15.​I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.

16. ​To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.

17.​In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.

18.​Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.



19.​Let me assure Nigerians that our administration will continue to assess the implementation with a view to ensuring that Nigerians are not unnecessarily burdened. In this regard, the CBN shall ensure that new notes become more available and accessible to our citizens through the banks.

20.​I wish to once more appeal for your understanding till we overcome this difficult transient phase within the shortest possible time.

21.​Fellow citizens, on the 25th of February, 2023 the nation would be electing a new President and National Assembly members. I am aware that this new monetary policy has also contributed immensely to the minimization of the influence of money in politics.

22.​This is a positive departure from the past and represents a bold legacy step by this administration, towards laying a strong foundation for free and fair elections.

23.​I urge every citizen therefore, to go out to vote for their candidates of choice without fear, because security shall be provided and your vote shall count.

24.​I however admonish you to eschew violence and avoid actions capable of disrupting the electoral processes. I wish us all a successful General Elections.

Thank you for listening. God bless the Federal Republic of Nigeria.

Financialman:

How na... people are dying, I have not eaten since yesterday,coz I'm stranded in a village,POS agents don't have the new money to give, market women are villagers and they don't believe in transfer...it was water I collected from a stranger that I have been drinking at this point anybody can poison me because even if a known witch gives me food at this point I go chop

Sorry about your plight. We are in this together....the implementation process is hard for us all but if we get through this phase...we will all smile...after the implementation process....trust me...things will get better