tolue42:


What are you saying?? When CBN already ask banks to collect it from us??

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.

I hope this scarcity of naira is not to help APC win election in such a way they will be the only party that have the new notes to share for election, don't let them decieve us they are trying to stop vote buying. If everyone can remember some weeks ago when they said the saw two bullion vans entering Tinubu's house. Nigerian's let's give ourselves brain because this moves has been calculated by Government. Why now Buhari remember to change notes after seven years, or are you telling me that after every four years CBN will be printing new notes now in Nigeria before elections? Buhari is just senseless.

Gabby84:


You are wrong even if truebu can deposit it the money would be in your account. U still don't have physical cash. Vote buying is done with physical cash. And the maximum amount you can deposit is 500k how person with 100million wan take do am

What do you know about vote buying ?? Mtchewww is obvious some of you don't even know how vote buying works in Nigerian politics...sit down be there thinking it is only physical cash that is majorly used for vote buying IN NIGERIA...

Gadafii:
The old 500 and 1k can’t be used to transact, it can only be deposited at banks

It’s not a legal tender no more does mean banks won’t accept it till the stipulated time

I don’t trust apc governors, they hid palliatives from the masses, all of a sudden they care for the same masses

Make them get out

Linear thinking. Only apc govs hid palliatives, like they all sat down to deliberate and decided to hide palliatives?

You can't.Single account can't take more than 500,000, even though you use different branches.

tolue42:


What are you saying?? When CBN already ask banks to collect it from us??

You will not be credited immediately, you'll have to fill a form. It might take up to 4 weeks. The old notes are no longer legal tenders. You may not even get credited.

hohafrank:
You can't.Single account can't take more than 500,000, even though you use different branches.

500k per BVN

salesbloo:
You see why APC Governors are right




I can deposit 500K in 5 different bank accounts 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

On the other hand if the above scenario is not plausible because of BVN, instead of depositing it, since there are no new naira notes, I will just spend it .Why should I return them since there is no new naira notes and no deadline. Let continue to recirculate them, CBN want to scam us again. To get old or new notes you pay as high as 20%


Redesign Policy is completely defeated

Am I right or wrong?

na Tinubu provoke buhari to implement this policy

Tayorshd2:
Yes oo because they have ordered banks to start collecting the old 500 and 1000 now

Emefiele is clueless about leadership's

I said it earlier. It is going to fail because of the poor implementation by the project manager called Emefailure

Gadafii:
The old 500 and 1k can’t be used to transact, it can only be deposited at banks

It’s not a legal tender no more does mean banks won’t accept it till the stipulated time

I don’t trust apc governors, they hid palliatives from the masses, all of a sudden they care for the same masses

Make them get out

Why can’t I accept the old notes if you want to buy a generator in my shop, I will accept and then go deposit immediately , it’s still a legal tender meaning the CBN is confused

Apart from the targeted individuals who hoard the old notes, how many Nigerians still have the notes with them?

The panic created by the deadline has forced majority of hard working Nigerians with the note to deposit it in the bank

It will be easier for cbn to trace the source of the remaining undeposited currency

Emefele is start, hence the policy not defeated

We are deceiving ourselves with the help of some powerful people. If you're with me, hit the like button.

Demogorgon:
If them give you 5k old notes, where you wan spend am?

As I dey so I get 3k old notes and Yes I go spend am for market. As at yesterday sef market women in Asaba collected old notes so my guy.......no think am

Demogorgon:
You will not be credited immediately, you'll have to fill a form. It might take up to 4 weeks. The old notes are no longer legal tenders. You may not even get credited.

Lol..be deceiving yourself...we will keep spending till April 10!

salesbloo:
You see why APC Governors are right




I can deposit 500K in 5 different bank accounts 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

On the other hand if the above scenario is not plausible because of BVN, instead of depositing it, since there are no new naira notes, I will just spend it .Why should I return them since there is no new naira notes and no deadline. Let continue to recirculate them, CBN want to scam us again. To get old or new notes you pay as high as 20%


Redesign Policy is completely defeated

Am I right or wrong?

How much can you withdraw after depositing is why the policy has not failed.

leisuretym:


Why can’t I accept the old notes if you want to buy a generator in my shop, I will accept and then go deposit immediately , it’s still a legal tender meaning the CBN is confused

that’s the cashless policy we are talking about, you and I know that if I bought goods from you worth 350k and I want to pay you in the old notes right now you won’t accept, rather you would suggest I transfer the money to your account, but you are definitely not going to accept old notes in that sum

If you want to keep spending and accepting old notes, no wahala the president have spoken and nothing go happen just like before when he makes anti people policy and nothing happens

My question is why is elrufai suddenly interest in the “masses” southern kaduna is bleeding he hasn’t done anything about that, he’s definitely hiding a huge skeleton in his cupboard

Ijaya123:
Absolutely.

When the reasoning behind it is political rather than for economic considerations, it is bound to fail. Now people can continue to spend the old N500 and N1000 notes since banks will collect them whenever it is deposited.

Buhari and Emefailure messed up big time.

Looks like Tinubu is the man to beat in the coming election. Everything being thrown at him are not just working. Now I understand why Fashola said "Underestimate Tinubu at your own peril".

When God never get your time, e go be like say you be Hulk Hogan. When God get your time, na small breeze go fall you down.

[quote author=salesbloo post=120988786]You see why APC Governors are right




I can deposit 500K in 5 different bank accounts 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

On the other hand if the above scenario is not plausible because of BVN, instead of depositing it, since there are no new naira notes, I will just spend it .Why should I return them since there is no new naira notes and no deadline. Let continue to recirculate them, CBN want to scam us again. To get old or new notes you pay as high as 20%


Redesign Policy is completely defeated

Am I right or wrong?[/quote

Bad policy with evil intentions. CBN governor fumble big time. Turning the whole CBN branches into cashier.

baralatie:

You are wrong in this!
The issues is that the cbn totally misunderstood what it would take to execute this cash swap policy alongside the constraints involved.
It is easy to compel money that is been stashed in vaults to be moved into the banks but when you now say you want to withdraw the he whole note in active circulation .that is a totally different problem.to now say you won't to withdraw the whole active notes under 3 to 4 months without a working system in place.its just saying you want to crush the economy

While you may be right from your perspective of the short window period given by the CBN, I also strongly believe that 4 months is enough for anyone who truly wanted to comply, to be able to offload on the CBN.

Remember, the issue we have is insufficient new notes, not where to deposit. Secondly, the FG has always had a cashless policy which a lot of the people didn't comply with. For God sake, why would anyone have about N50 million in cash, (there was a video of one man at CBN yesterday). What was he waiting for?

All those people braving bullets to vandalize and loot banks are opportunistic thieves who would find it difficult to prove that they have any money in the banks they are destroying.

tolue42:


What are you saying?? When CBN already ask banks to collect it from us??

Always read the T&C's of any product and service you get to avoid had I known.

Below for info:

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.[i][/i]

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.

Young Man, we will keep spending till April 10!. if I should split 20m amongst 40 people, and I'll get it back through transfer , how will CBN know ?

VictorGeneral4:
na Tinubu provoke buhari to implement this policy

On the contrary the policy was to sell Tinubu as people oriented. Among the main contestants he is the only one that fought the policy. People have been asking how APC can save us from APC.....this is it. This was created to make a case for Tinubu as being people oriented thereby boosting his chances. Unfortunately Atiku n Obi fell for the decoy

leisuretym:


Why can’t I accept the old notes if you want to buy a generator in my shop, I will accept and then go deposit immediately , it’s still a legal tender meaning the CBN is confused

You have to fill a form on CBN portal where a code will be generated that you will take to the bank. Then you will wait for weeks for it to be processed.
No where near as straightforward as you made it look

Svoboda:


Linear thinking. Only apc govs hid palliatives, like they all sat down to deliberate and decided to hide palliatives?

list the states where palliative were hidden, they are apc controlled states🙄🙄

salesbloo:
You see why APC Governors are right




I can deposit 500K in 5 different bank accounts 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

On the other hand if the above scenario is not plausible because of BVN, instead of depositing it, since there are no new naira notes, I will just spend it .Why should I return them since there is no new naira notes and no deadline. Let continue to recirculate them, CBN want to scam us again. To get old or new notes you pay as high as 20%


Redesign Policy is completely defeated

Am I right or wrong?

they will trace it will your BVN

Padipadi:

Sure. Cows are revered in India not Nigeria.
We eat cows here. Same with people that act like cow. Or you sef go like do like cow make dem chop you?
Cos in your myopic life, you ll think you are hurting Tinubu but he's miles ahead of you.
Meanwhile, I m not a Yoruba person but respect them cos they are rare gems in Nigeria

You eat even those that act like cows?

No,we are not hurting Chief Tinubu,we even give him flag and campaigned for him. But Tinubu keeps saying the target is against him,maybe he is laughing that it would not hurt him?

Tinubu is miles ahead of us from Abuja to Lagos,just that we are trillions of miles above him for ever.

Do not disown your tribe,it is good to be from the most loyal tribes.

PointZerom:


Don't ever think you're smarter than somebody who layes ambush against you.

CBN knows what they're doing but if you chose to be a victim that's your business.

Esprit de corp.

salesbloo:
You see why APC Governors are right




I can deposit 500K in 5 different bank accounts 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

On the other hand if the above scenario is not plausible because of BVN, instead of depositing it, since there are no new naira notes, I will just spend it .Why should I return them since there is no new naira notes and no deadline. Let continue to recirculate them, CBN want to scam us again. To get old or new notes you pay as high as 20%


Redesign Policy is completely defeated

Am I right or wrong?

Who told you the deadline for the deposit of old naira notes is 10th April? Na so una go carry fake news confuse innocent people. Where in PMB's speech was the time frame for the deposit of old naira notes increased? The seven days grace period for deposit of old naira notes elapses today (Note that the 7 days grace is in the CBN act). If you are able to generate the code before it's expiration today, you can go to any commercial bank and deposit your old notes.

PointZerom:


Don't ever think you're smarter than somebody who layes ambush against you.

CBN knows what they're doing but if you chose to be a victim that's your business.

Very wrong sir

illuminutty:


Always read the T&C's of any product and service you get to avoid had I known.

Below for info:

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.[i][/i]

Abeg wise up.. CBN don put una for handicap...once Tinubu win the election by next week, we'll have no reason to even deposit the money again self...Emefile will need to seek asylum in the UK

Oluchiugo:
On the contrary the policy was to sell Tinubu as people oriented. Among the main contestants he is the only one that fought the policy. People have been asking how APC can save us from APC.....this is it. This was created to make a case for Tinubu as being people oriented thereby boosting his chances. Unfortunately Atiku n Obi fell for the decoy

That is it.

So tell your tribesmen to calm down,stop protest,Buhari is doing this for Tinubu win.

hhhh