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CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes - Business (8) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes (58261 Views)

We Did Not Authorise Commercial Banks To Collect Old ₦500, ₦1000 Notes - CBN / Video Of Nigerians Arriving CBN Office With Sacks Of Old ₦‎500 And ₦‎1,000 Notes / 15-Year-Old ₦‎500 Note Currently In Circulation (Pictured) (2) (3) (4)

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Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by AmotekunSW: 4:19pm On Feb 17, 2023
CYBERSOLDIERSre:

You're manifesting your lunacy again?
Useless Yoruba Muslim tribal fool.
You're failure personified.
Cursed urchin

Your parents are cursed and you inherited their bad luck. Anything you touch gets spoilt.
All the things you supported have suffered form your contagious bad luck. Even ipob is scattered today.

2 Likes 1 Share

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by CYBERSOLDIERSre: 4:20pm On Feb 17, 2023
ihesiuloa:

All of a sudden you now call this same government SHAME! As if you were not part of the people who voted them into power, you are only trying to play the reverse psychology here.

Don't mind those senseless urchins.

They're irredeemable.

All Tinubu supporters are Mad.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by Treassured: 4:21pm On Feb 17, 2023
🤣🤣🤣
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by tamdun: 4:21pm On Feb 17, 2023
Thewrath:
Foolish people celebrating it as a win for tunubu,the process is still thesame,you still need a reference number from cbn to pay in and at max 500k….this is what the cbn wants,the aim is still on track to mop up all old notes before election.
Ur father is the foolish one

3 Likes 2 Shares

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by CYBERSOLDIERSre: 4:21pm On Feb 17, 2023
AmotekunSW:


Your parents are cursed and you inherited their bad luck. Anything you touch gets spoilt.
All the things you supported have suffered form your contagious bad luck. Even ipob is scattered today.

As you dey cry, e dey sweet us.

Una cry never start ooo. All of you supporting Tinubu are all mad.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by CYBERSOLDIERSre: 4:22pm On Feb 17, 2023
tamdun:

Ur father is the foolish one

Tinubu is.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by hush15: 4:22pm On Feb 17, 2023
seunmsg:
CBN is simply trying to be clever by half since they know the governors are already ahead of them. If Banks are still collecting the old notes, then business can still collect them as legitimate means of exchange and then proceed to deposit same in banks.

This kind of policy summersault is what happens when you try to implement an illegal decision despite the order of the Supreme Court and the very obvious hardship that citizens are facing. Kudos to the courageous governors who have ordered their residents to continue to accept the old notes as means of exchange. They are the heroes this period. Big shame on all those who are supporting the suffering that Buhari and Emefiele are inflicting on Nigerians simply because of politics. After the election, Asiwaju Bola Tinubu will reverse the inhuman policy.


What is wrong with you people, must you always twist and misform the crowd all in the name of politics? 500 and 1000 old notes can not be used as legal tender, as a means of exchange. Banks are only authorized to mop up these notes between 500 to 500,000. Amounts exceeding that will have to be referred to CBN but they must first generate code from CBN online portal to be able to make that deposit.

As for buying and selling, it is no longer tenable

1 Like

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by Hassan88(m): 4:22pm On Feb 17, 2023
Major General don enter Bubu name again... grin grin grin
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by ihesiuloa(m): 4:22pm On Feb 17, 2023
seunmsg:
CBN is simply trying to be clever by half since they know the governors are already ahead of them. If Banks are still collecting the old notes, then business can still collect them as legitimate means of exchange and then proceed to deposit same in banks.

This kind of policy summersault is what happens when you try to implement an illegal decision despite the order of the Supreme Court and the very obvious hardship that citizens are facing. Kudos to the courageous governors who have ordered their residents to continue to accept the old notes as means of exchange. They are the heroes this period. Big shame on all those who are supporting the suffering that Buhari and Emefiele are inflicting on Nigerians simply because of politics. After the election, Asiwaju Bola Tinubu will reverse the inhuman policy.
You are wrong bro! It was the likes of you who persistently voted in this government against the advise of well meaning Nigerians who foresaw the impending catastrophic events, now you are trying to play the mind game with your reverse psychology,its better you continue to support this tyrant government until may 29th when you lots will be thrown out of the villa.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by coldFLARES1(m): 4:22pm On Feb 17, 2023
JustPowerApps:
cheesy We need 2 of Emefiele in Nigeria. This drama is unmatched, premium confusing since January.
You already have two sir: Emefiele and Buhari

1 Like

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by CYBERSOLDIERSre: 4:28pm On Feb 17, 2023
coldFLARES1:
You already have two sir: Emefiele and Buhari

Add the useless chief comedian Tinubu who raises his two hands up to sing National Anthem.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by Impaka: 4:28pm On Feb 17, 2023
Ttalk:
They have no choice.

A win for the masses

A win for the progressives

A win for all that stood against the tyrant of Emefiele and Bubari.

Shame on all Mkpuru miri addicts

Shame on those that support the contempt of the judiciary

Shame on the fools that want the masses to suffer

Shame on every soul that supports this wicked policy of the government
you didn't condemn El rufai contempt of court order when El zazaky was granted bail is now that you are fighting for your paymaster that you want to speak up ,God will disgrace you all,you see this policy it have come to stay your drug lord won't succeed this time around In moping up public cash
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by IamAsiri: 4:29pm On Feb 17, 2023
tinsel:

Until April 10

I hear you grin.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by MrBONE2(m): 4:29pm On Feb 17, 2023
FalseProphet1:
I see sanity returning back to Nigeria once 😁Jagaban😁wins.

This I have seen.

😆😁😂

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by deji17: 4:34pm On Feb 17, 2023
Four groups are talking, whom should the people listen to?
1. Buhari
2. Governors
3. Supreme court
4. Emefiele.

In the midst of this confusion, protesters are vandalizing banks.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by Freebills12: 4:35pm On Feb 17, 2023
[color=#000099][/color]
seunmsg:
CBN is simply trying to be clever by half since they know the governors are already ahead of them. If Banks are still collecting the old notes, then business can still collect them as legitimate means of exchange and then proceed to deposit same in banks.

This kind of policy summersault is what happens when you try to implement an illegal decision despite the order of the Supreme Court and the very obvious hardship that citizens are facing. Kudos to the courageous governors who have ordered their residents to continue to accept the old notes as means of exchange. They are the heroes this period. Big shame on all those who are supporting the suffering that Buhari and Emefiele are inflicting on Nigerians simply because of politics. After the election, Asiwaju Bola Tinubu will reverse the inhuman policy.

You are simply living in a fool's paradise. Tinubu ke... How can a business man collect old note, sometimes when you write think first. #500000 maximum after you might generated a code from CBN... Who and who have that kind of time? The governors have nothing to do with this. CBN are making the work to be easy on their own part. The governors are fighting for their stored old note to be used for the election... But unfortunately they won't use it like wise your candidate Tinubu.

1 Like

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by speakitnigeria1: 4:35pm On Feb 17, 2023
This man is confused and idiotic in his decision making. Playing with the lives of people with policy that will not and never work until there are enough new currency to replace old ones.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by adeyinkaazeez(m): 4:36pm On Feb 17, 2023
As an undecided voter I am, my vote is for TINUBU. I will never vote any candidate that wants to hide under a policy that is affecting common man and use it as a weapon to win election.

My vote is for candidates that fought this tyrannical policy.

Thanks

1 Like

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by baralatie(m): 4:36pm On Feb 17, 2023
chukseric504869:
No matter how good this policy seems to be and which ever motive might be the reason for the sudden implementation of it,it does not worth the excruciating pains the Masses are going through.people are passing through hell.pmb is really dumb ,now I know that he does not know and understands what is happening around his govt,if not, how can a man that steer the leadership of a country allow somebody to decieve him in subjecting the citizen to this kind of hell .
Emefiele
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by farem: 4:37pm On Feb 17, 2023
seunmsg:



And what’s the big deal in filling a form online and generating a code? We’ve filling forms and generating IRR before making payments to TSA, Remita etc so what’s the difference?

Did you run through what you just write?
How many Nigerians in your community can do yes?
Enu dun rofo
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by deyplay: 4:39pm On Feb 17, 2023
seunmsg:
CBN is simply trying to be clever by half since they know the governors are already ahead of them. If Banks are still collecting the old notes, then business can still collect them as legitimate means of exchange and then proceed to deposit same in banks.

This kind of policy summersault is what happens when you try to implement an illegal decision despite the order of the Supreme Court and the very obvious hardship that citizens are facing. Kudos to the courageous governors who have ordered their residents to continue to accept the old notes as means of exchange. They are the heroes this period. Big shame on all those who are supporting the suffering that Buhari and Emefiele are inflicting on Nigerians simply because of politics. After the election, Asiwaju Bola Tinubu will reverse the inhuman policy.
did you read well at all? You forgot that you will have to fill CBN form before depositing the money.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by Thewrath(m): 4:40pm On Feb 17, 2023
tamdun:

Ur father is the foolish one
It’s not my fault that you don’t know who your father is.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by Minatouchiha(m): 4:40pm On Feb 17, 2023
Ttalk:
They have no choice.

A win for the masses

A win for the progressives

A win for all that stood against the tyrant of Emefiele and Bubari.

Shame on all Mkpuru miri addicts

Shame on those that support the contempt of the judiciary

Shame on the fools that want the masses to suffer

Shame on every soul that supports this wicked policy of the government

Which win? It's still not legal tender. It's just ease of deposit.

1 Like

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by MartinsD12(m): 4:42pm On Feb 17, 2023
missuzoma:
Key highlights from the Banker's Committee meeting held today on the Naira Redesign

1. The old 200 naira will still be legal till April 10th 2023.

2. The old 200 naira and the new 500 and new 1000 will continue to be in circulation till 10th of April 2023.

3. The old 500 and the 1000 can be deposited into commercial bank just once within the 60days extension.

4. A new App will be developed by CBN to enable customer to make the one off deposit within the extended 60 days.

5. A customer cannot make more than 500k deposit within this period and it cannot be splited.

6. Customer making above 500k will have to visit the CBN.

7. You cannot receive value for the deposit immediately because the money will go to a CBN GL.

8. You can only receive value Upon remittance and confirmation from CBN.
Which day this bankers meeting hold ?
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by luluosas(m): 4:42pm On Feb 17, 2023
People have already misinterpreted the whole thing over here in Benin City.

500 and 1000 old notes ARE STILL NO LEGAL TENDERS. Be guided ooooooo

1 Like

Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by XAUBulls: 4:44pm On Feb 17, 2023
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by Diligence: 4:48pm On Feb 17, 2023
Throwback:
We Nigerian masses know the candidate that stands with us.

We will vote wisely.

APC Again: EMPHATIC NO! Muslim-Muslim Ticket. Suffering & Smiling. Terrorism. Insecurity.

Tinubu Ke? Bullion van?

Take Back Your Country
EnofIsEnof
VoteObiDattiforABetterNigeria
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by Smallengineer07: 4:52pm On Feb 17, 2023
Abeg play me Bala blue..... Town hall
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by rookidmart: 4:53pm On Feb 17, 2023
salesbloo:
You see why APC Governors are right



Emefiele is a clown

I can deposit[b] 500K in 5 different bank accounts[/b] making 2.5m meaning old notes is still a legal tender .....since the deadline specified is April 10 . Alternatively if you have individual and corporate accounts ....500k in each account


Redesign Policy is completely defeated.
No, it doesn't work like that.
1. It's limited by BVN
2. Only self-deposits are allowed; third party deposits are not - this applies to corporate accounts. This means your friend cannot deposit old notes in your account.

So the only way you can bypass this is to somehow have different BVNs for your different accounts.
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by BigBlackPreek(m): 4:56pm On Feb 17, 2023
Buhari4sale:
Cool, I'm going back to that place again tonight grin

The girls didn't collect old notes from customers last night. I need to fvck badly.
walahi....me self go Bleep ashawo tire this night oooooo...I dey go back there tonight
Re: CBN Orders Banks To Collect Old ₦‎500, ₦‎1,000 Notes by gotnel: 5:00pm On Feb 17, 2023
Assassink:
So, buhari is suffering the masses now?I thought he's the best thing that has happened to Nigeria.So you are no longer licking buhari ass?You urchins are brainless.

You think it is possible to follow someone blindly to the extent of not knowing what is right or wrong?
You and your cohort are the brainless human beings.

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