By Friday morning, the CBN issued out directives to commercial banks to collect both N500 and N1,000 old notes subject to certain conditions life filling form from CBN portal but to accept them into the accounts of customers on one off basis and give immediate value.

The timeline given for this excercise is April 10, 2023. Never mind the disclaimer by the CBN same Friday which actually emphasized that it was only reissuing the old N200 into the economy, the truth is that they have asked banks to keep receiving the old notes. And most banks throughout today Saturday opened to collect the denominations.

What this means is that anyone can spend and collect the old notes in the market, use it for transactions and then finally pay into his/her bank account at anytime before April 10. In other words, during Feb 25 elections, the old notes can be spent and whoever receives it can pay into the bank before April 10. Then what was the purpose of the whole bruhaha in the first place? Why suffer us all when in the end the old notes can be spent in d election period? Why kill so many small businesses, kill so many people living on the fringes of life in pursuant of a policy that has technically collapsed even before the Supreme Court final judgement? I think the opposition made a big blunder in supporting this policy. They should had fought it from the beginning and be on the side of the people and not allow Tinubu extricate himself from it. Unfortunately the opposition owned it by supporting it so passionately, thus also owning the sufferings it has infringed on the people. If things stand as it is, without counter memo again from the CBN, they have lost as the money would now be used especially in the north when they know they can pay into the bank before April 10. We have a dullard and mumu as CBN governor. Neither Sanusi not Soludo not Joseph Sanusi would had supervised this kind of shit.They just brutalized the masses for nothing!

According to Lai Mohammed, you can't separate Tinubu from the current APC government.

Hope that clarifies.

ukenke:
According to Lai Mohammed, you can't separate Tinubu from the current APC government.

Hope that clarifies.

mumu many of you that hailed Buhari and Emefiele for the bad inhuman policy are the major loser on this. Posterity will George you. The soul of those died or undergone undeserved pains will add you unanswerable question. God will give support pains on you people as you supported what is bring pains for inosent Nigerians in the name of politics you don't have control over.

Odibembem:
By Friday morning, the CBN issued out directives to commercial banks to collect both N500 and N1,000 old notes subject to certain conditions life filling form from CBN portal but to accept them into the accounts of customers on one off basis and give immediate value.

The timeline given for this excercise is April 10, 2023. Never mind the disclaimer by the CBN same Friday which actually emphasized that it was only reissuing the old N200 into the economy, the truth is that they have asked banks to keep receiving the old notes. And most banks throughout today Saturday opened to collect the denominations.

What this means is that anyone can spend and collect the old notes in the market, use it for transactions and then finally pay into his/her bank account at anytime before April 10. In other words, during Feb 25 elections, the old notes can be spent and whoever receives it can pay into the bank before April 10. Then what was the purpose of the whole bruhaha in the first place? Why suffer us all when in the end the old notes can be spent in d election period? Why kill so many small businesses, kill so many people living on the fringes of life in pursuant of a policy that has technically collapsed even before the Supreme Court final judgement? I think the opposition made a big blunder in supporting this policy. They should had fought it from the beginning and be on the side of the people and not allow Tinubu extricate himself from it. Unfortunately the opposition owned it by supporting it so passionately, thus also owning the sufferings it has infringed on the people. If things stand as it is, without counter memo again from the CBN, they have lost as the money would now be used especially in the north when they know they can pay into the bank before April 10. We have a dullard and mumu as CBN governor. Neither Sanusi not Soludo not Joseph Sanusi would had supervised this kind of shit.They just brutalized the masses for nothing!

There are some technicalities you guys seem not to understand, as each day goes by, people will reject the 500 and 1000 naira notes.

You did not cover some of those technicalities the CBN put in place and mind you the CBN's deadline is different from that of the supreme court....

collection of old notes by CBN ended on 17th February

Collection of old notes ended yesterday sir

The stvpid policy blew up in Buhari's face. Many people from a particular tribe hailed Buhari for this wicked policy. They're the true enemies of the people all because of election.

Bow to which governors. Governors whose stolen monies are now worthless in their vaults rooms.

The goal was to make force then to deposit the the money meant for vote buying and risk getting caught or for them to keep it and it remains worthless throughout the election period.

That is why these particular states are asking their people to conduct business in these old notes so they can achieve their aim during elections.

Don't be surprised if the day after elections, Buhari and CBN reverses everything.

The governors cannot remit such volume of money into their bank accounts without raising a flag, which is the trap set for them.

Odibembem:
By Friday morning, the CBN issued out directives to commercial banks to collect both N500 and N1,000 old notes subject to certain conditions life filling form from CBN portal but to accept them into the accounts of customers on one off basis and give immediate value.

The timeline given for this excercise is April 10, 2023. Never mind the disclaimer by the CBN same Friday which actually emphasized that it was only reissuing the old N200 into the economy, the truth is that they have asked banks to keep receiving the old notes. And most banks throughout today Saturday opened to collect the denominations.

What this means is that anyone can spend and collect the old notes in the market, use it for transactions and then finally pay into his/her bank account at anytime before April 10. In other words, during Feb 25 elections, the old notes can be spent and whoever receives it can pay into the bank before April 10. Then what was the purpose of the whole bruhaha in the first place? Why suffer us all when in the end the old notes can be spent in d election period? Why kill so many small businesses, kill so many people living on the fringes of life in pursuant of a policy that has technically collapsed even before the Supreme Court final judgement? I think the opposition made a big blunder in supporting this policy. They should had fought it from the beginning and be on the side of the people and not allow Tinubu extricate himself from it. Unfortunately the opposition owned it by supporting it so passionately, thus also owning the sufferings it has infringed on the people. If things stand as it is, without counter memo again from the CBN, they have lost as the money would now be used especially in the north when they know they can pay into the bank before April 10. We have a dullard and mumu as CBN governor. Neither Sanusi not Soludo not Joseph Sanusi would had supervised this kind of shit.They just brutalized the masses for nothing!

Oil dey your head I swear!

I opened a Thread yesterday similar to this perception

Odibembem:
By Friday morning, the CBN issued out directives to commercial banks to collect both N500 and N1,000 old notes subject to certain conditions life filling form from CBN portal but to accept them into the accounts of customers on one off basis and give immediate value.

The timeline given for this excercise is April 10, 2023. Never mind the disclaimer by the CBN same Friday which actually emphasized that it was only reissuing the old N200 into the economy, the truth is that they have asked banks to keep receiving the old notes. And most banks throughout today Saturday opened to collect the denominations.

What this means is that anyone can spend and collect the old notes in the market, use it for transactions and then finally pay into his/her bank account at anytime before April 10. In other words, during Feb 25 elections, the old notes can be spent and whoever receives it can pay into the bank before April 10. Then what was the purpose of the whole bruhaha in the first place? Why suffer us all when in the end the old notes can be spent in d election period? Why kill so many small businesses, kill so many people living on the fringes of life in pursuant of a policy that has technically collapsed even before the Supreme Court final judgement? I think the opposition made a big blunder in supporting this policy. They should had fought it from the beginning and be on the side of the people and not allow Tinubu extricate himself from it. Unfortunately the opposition owned it by supporting it so passionately, thus also owning the sufferings it has infringed on the people. If things stand as it is, without counter memo again from the CBN, they have lost as the money would now be used especially in the north when they know they can pay into the bank before April 10. We have a dullard and mumu as CBN governor. Neither Sanusi not Soludo not Joseph Sanusi would had supervised this kind of shit.They just brutalized the masses for nothing!

Brilliant submission. In my dictionary there are two policies categorization, good or bad. This CBN naira politics is exudative and short thin of being called obnoxious and it's a Bad policy. There was no deep thoughts thoroughly proof process wedged into it but rather is smeared with effusive temperament to encroach on our liberty due to emotional rascality of people we put in a position of trust. Young leaders must learn from this that because you hate somebody and desire to punish that person can crash a working system.

JoeyNaza:
Bow to which governors. Governors whose stolen monies are now worthless in their vaults rooms.

The goal was to make force then to deposit the the money meant for vote buying and risk getting caught or for them to keep it and it remains worthless throughout the election period.

That is why these particular states are asking their people to conduct business in these old notes so they can achieve their aim during elections.

Don't be surprised if the day after elections, Buhari and CBN reverses everything.

The governors cannot remit such volume of money into their bank accounts without raising a flag, which is the trap set for them.

I have come to realize that most times, Buhari is served with wrong info and makes his policies based in those false info, that's why he did so poorly in many areas. This is another area he was served with wrong info. That governors stored huge cash at home is unproven, even if they did, they are smart enough to had converted what they needed for elections to USdollars and CFA to share at elections if they can't get d new notes. Secondly with the way things stand, if indeed they have d money, they don't need to pay it into any bank, during d elections they can still use d old naira to buy votes cos the people who bought can pay it into their account at any time before April 10. Yes not everyone would want to go thru d stress of filling d CBN portal but they can exchange it at a commission to a single mallam who would carry everything to d bank as long as it's below 500k. The banks don't do any investigation, they credit u immediately, I was at a branch of UBA today and saw the process live. Don't be decieved

iokpebholo:
Collection of old notes ended yesterday sir

Do u just say this cos u wish it was so? I visited a branch of UBA today Feb 18 and saw d process live, customers were credited immediate value

MXrep:
collection of old notes by CBN ended on 17th February

Do u say this cos u know or cos u wished it was so? Why not call an operations staff in a commercial bank to help u with correct info. I was at a branch of a bank today and saw d process, customers are credited instant value. Deadline is April 10

Doz people wey no know anything I keep telling them the old note will still be used for election...


Last last people will start reselling it and reseller sef don dey as we dey talk like this if u no fit go through CBN stress no worry 800 for 1k transfer cash 700 in 200 and 100naira note people go rush am....


Even if na one off payment from bank people will start buying people BVN for as low as 5k and dem go dey use am run the package adding dere bank staff connect with it no b Nigeria format no dey finish...

Odibembem:


Do u just say this cos u wish it was so? I visited a branch of UBA today Feb 18 and saw d process live, customers were credited immediate value

On a Saturday?

Today na sunday?

Obaaderemi2:
On a Sunday?

Obaaderemi2:
The stvpid policy blew up in Buhari's face. Many people from a particular tribe hailed Buhari for this wicked policy. They're the true enemies of the people all because of election.

Do you have any money to deposit? are you a politician that hoard money?
You people will want the corrupt thieves to be caught and still be the once to complain, CBN released enough new naira notes but politicians have kept them for vote buying since the old ones they have may no longer be accepted. Enough cash will be available after election.
you heard elrufai telling kaduna residence to keep their old naira and they will help them return it to CBN after election and I ask, why not before election?
we all know the truth but will pretend that we don't know out of stupidity.

Odibembem:


I have come to realize that most times, Buhari is served with wrong info and makes his policies based in those false info, that's why he did so poorly in many areas. This is another area he was served with wrong info. That governors stored huge cash at home is unproven, even if they did, they are smart enough to had converted what they needed for elections to USdollars and CFA to share at elections if they can't get d new notes. Secondly with the way things stand, if indeed they have d money, they don't need to pay it into any bank, during d elections they can still use d old naira to buy votes cos the people who bought can pay it into their account at any time before April 10. Yes not everyone would want to go thru d stress of filling d CBN portal but they can exchange it at a commission to a single mallam who would carry everything to d bank as long as it's below 500k. The banks don't do any investigation, they credit u immediately, I was at a branch of UBA today and saw the process live. Don't be decieved

Lol, you are funny, information is key, don't just speak .
The April 10 deadline is for the 200 Naira denomination only.
CBN allowing banks ( a selection of branches not all ) to collect old money is tentative bordering on their incapacity to effectively end the process on February 17th.

Invariably, CBN can decide to end the process tommorow and that is that, which is what they are working up to soon, they aren't fools.

You and the rest of your folks can then proceed to whosever's bank of stolen money and deposit there.

inoki247:
Doz people wey no know anything I keep telling them the old note will still be used for election...

starstaz:

Brilliant submission. In my dictionary there are two policies categorization, good or bad. This CBN naira politics is exudative and short thin of being called obnoxious and it's a Bad policy. There was no deep thoughts thoroughly proof process wedged into it but rather is smeared with effusive temperament to encroach on our liberty due to emotional rascality of people we put in a position of trust. Young leaders must learn from this that because you hate somebody and desire to punish that person can crash a working system.

yemex04:







Oil dey your head I swear!

I opened a Thread yesterday similar to this perception

Obaaderemi2:
The stvpid policy blew up in Buhari's face. Many people from a particular tribe hailed Buhari for this wicked policy. They're the true enemies of the people all because of election.

Odibembem:
By Friday morning, the CBN issued out directives to commercial banks to collect both N500 and N1,000 old notes subject to certain conditions life filling form from CBN portal but to accept them into the accounts of customers on one off basis and give immediate value.

The timeline given for this excercise is April 10, 2023. Never mind the disclaimer by the CBN same Friday which actually emphasized that it was only reissuing the old N200 into the economy, the truth is that they have asked banks to keep receiving the old notes. And most banks throughout today Saturday opened to collect the denominations.

Una just dey make noise for wetin you no sabi with wrong information.

April 10 deadline is for old 200 Naira denomination ONLY. Buhari's speech was clear on that, CBN old money redemption directive / website has not stated any deadline as you guys are wrongly claiming

Banks collecting old 500 and 1000 is a tentative exercise because CBN could not service the public fully enough to end the redemption process on February 17th and also to pacify the suffering masses.

And mind you they are not fools neither is Buhari backing down, else he would have made 500 and 1000 notes valid till April 10 too. During the course of next week by all indications, on Tuesday CBN will shut it down, case closed.

You can then take your old 1000 and 500 notes and deposit it with Tinubu and sons bank. If you like be stubborn enough to hold on to your old notes instead of doing the right thing.

They have already mobbed over 2 trillion and those are not coming back

JoeyNaza:








Una just dey make noise for wetin you no sabi with wrong information.

April 10 deadline is for old 200 Naira denomination ONLY. Buhari's speech was clear on that, CBN old money redemption directive / website has not stated any deadline as you guys are wrongly claiming

Banks collecting old 500 and 1000 is a tentative exercise because CBN could not service the public fully enough to end the redemption process on February 17th and also to pacify the suffering masses.

And mind you they are not fools neither is Buhari backing down, else he would have made 500 and 1000 notes valid till April 10 too. During the course of next week by all indications, on Tuesday CBN will shut it down, case closed.

You can then take your old 1000 and 500 notes and deposit it with Tinubu and sons bank. If you like be stubborn enough to hold on to your old notes instead of doing the right thing.

You people sabi quote things to suit your own narrative where in Buhari speech did you see anything like on the 17 in his speech show me the Video you people should stop circulating jargons just because you love the policy....


This the circular on CBN portal where did you see on the 17 closing date for CBN deposit dere....

Even the banks directory that was later deleted stated that they will be opening on the 18th of Feb which is today so show me the Video where you got your jargons info from bkuz you hate Tinubu you can keep making up different story that's none of my business...


The money can only be deposited buh it will Neva come outside once he enter CBN that's it stop trying to quote News to suit your narrative that's why they call you guys Zombies....

A lot of people lack understanding.

The old N500 & N1000 notes are no longer valid legal tender. The CBN is not able to cope with the crowd that have gathered at their offices so they have asked banks to help them. You can only return your old notes once after completing an online form with CBN and taking the print and your old notes to your bank not exceeding N500,000. Any amount above this must be deposited at CBN.

Only the old N200 note is still valid legal tender.

Odibembem:
By Friday morning, the CBN issued out directives to commercial banks to collect both N500 and N1,000 old notes subject to certain conditions life filling form from CBN portal but to accept them into the accounts of customers on one off basis and give immediate value.

The timeline given for this excercise is April 10, 2023. Never mind the disclaimer by the CBN same Friday which actually emphasized that it was only reissuing the old N200 into the economy, the truth is that they have asked banks to keep receiving the old notes. And most banks throughout today Saturday opened to collect the denominations.

What this means is that anyone can spend and collect the old notes in the market, use it for transactions and then finally pay into his/her bank account at anytime before April 10. In other words, during Feb 25 elections, the old notes can be spent and whoever receives it can pay into the bank before April 10. Then what was the purpose of the whole bruhaha in the first place? Why suffer us all when in the end the old notes can be spent in d election period? Why kill so many small businesses, kill so many people living on the fringes of life in pursuant of a policy that has technically collapsed even before the Supreme Court final judgement? I think the opposition made a big blunder in supporting this policy. They should had fought it from the beginning and be on the side of the people and not allow Tinubu extricate himself from it. Unfortunately the opposition owned it by supporting it so passionately, thus also owning the sufferings it has infringed on the people. If things stand as it is, without counter memo again from the CBN, they have lost as the money would now be used especially in the north when they know they can pay into the bank before April 10. We have a dullard and mumu as CBN governor. Neither Sanusi not Soludo not Joseph Sanusi would had supervised this kind of shit.They just brutalized the masses for nothing!

Your write is not correct. The 200 notes seizes to be a legal tender by 10th of April. Deposit of 1000 & 500 notes can only be made once by a customer. Commercial banks cannot collect amount more than 500k. Collection of 1000 and 500 notes ends next week, before election. Now tell me how the politicians will not be affected by the paucity of funds, especially the corrupt ones.

Dey play. Just dey play.

These governors (and APC thugs and urchins) are just making much ado over nothing.

For one week now, I have not handled cash; and everyone at home is doing fine. I switched to buying (food, basic house needs, petrol, e.t.c.) from vendors who accept cashless transactions via transfer or card payment. The only difficulty for now is public transport; I've limited my movements and have a contract with a bikeman who accepts transfers to convey me to long distances. For shorter distances, unlike before, I do more walking now. It's just for 3 or 4 weeks maximum.

Back to the vendors, the provision store vendors around where I live now accept transfers since they normally make transfers to their own suppliers. What amazed me more is that the women selling fresh foods e.g. fish, foodstuff, tomatoes, e.t.c., have a deal with the POS agent on the street, where you can pay with your card through the agent. The genius in it is that since no one is collecting old cash and the new one isn't really available, the agent is still busy since most people troop there to buy from them because they have a cashless arrangement. I think though that the prices of what they sell were slightly adjusted to account for the charges for the cashless transactions.

In a nutshell, I think serious people are adapting and moving on. Perhaps if the cash use is reserved for key cash requirements like transporters, the pressure won't be as much.

Munamu:



Your write is not correct. The 200 notes seizes to be a legal tender by 10th of April. Deposit of 1000 & 500 notes can only be made once by a customer. Commercial banks cannot collect amount more than 500k. Collection of 1000 and 500 notes ends next week, before election. Now tell me how the politicians will not be affected by the paucity of funds, especially the corrupt ones.

Show me from this circular or the President speech that says collection of old note stops the coming week you guys first said on the 17 now na Next week again you just keep twisting the News to suit your own narrative....

adekolaelect:
mumu many of you that hailed Buhari and Emefiele for the bad inhuman policy are the major loser on this. Posterity will George you. The soul of those died or undergone undeserved pains will add you unanswerable question. God will give support pains on you people as you supported what is bring pains for inosent Nigerians in the name of politics you don't have control over.

Actually this is Buhari best policy. Your small minded opinion doesn't change that.

Obaaderemi2:
The stvpid policy blew up in Buhari's face. Many people from a particular tribe hailed Buhari for this wicked policy. They're the true enemies of the people all because of election.

That you don't see beyond your nose doesn't make the policy a bad one. That tribe you talked about has consistently stood on the lane of true change since genesis.

Thanksful:

That you don't see beyond your nose doesn't make the policy a bad one. That tribe you talked about has consistently stood on the lane of true change since genesis.

True change like destroying down their region and killing themselves every Monday.
Anything to destroy and scatter things, they are always at the forefront.
I laugh at their stupidity.

inoki247:



Show me from this circular or the President speech that says collection of old note stops the coming week you guys first said on the 17 now na Next week again you just keep twisting the News to suit your own narrative....

Ok fine, you won! Let's assume the collection date for the 1000 and 200 notes expires by 10th of April, an individual can only make such deposit once within this period. If you decide to make another payment through a person, the thought that the money will take 4 wks before alert might is scary. The narration that the deposited amount will be credited immediately is your own invention .

Munamu:


Ok fine, you won! Let's assume the collection date for the 1000 and 200 notes expires by 10th of April, an individual can only make such deposit once within this period. If you decide to make another payment through a person, the thought that the money will take 4 wks before alert might is scary. The narration that the deposited amount will be credited immediately is your own invention .

You're on drugs I never said it will be deposited immediately go back to everything I wrote up derr....


Someone Wu wan use 5m make 6.5 it won't cost him more Dan to wait for 4wks mak the money hit is account...


What I'm saying is that the thing will become a ripping avenue again format no dey tire the Citizens....

Munamu:


Ok fine, you won! Let's assume the collection date for the 1000 and 200 notes expires by 10th of April, an individual can only make such deposit once within this period. If you decide to make another payment through a person, the thought that the money will take 4 wks before alert might is scary. The narration that the deposited amount will be credited immediately is your own invention .

Let me ask again, do u say what u say cos u know it's a fact or cos u wish it was so. An telling u categorically that for UBA and Access Bank that I know in and out, for both Friday and Saturday, they gave immediate value once u submitted the form from CBN. That's d instruction they were given. Why not pick up a phone, call a bank Cash Officer or Operations Manager (not IPOB minded messenger or driver) for clarification. You guys were sold dummies to make u happy in your wickedness and joy in seeing ordinary people suffer whereas CBN has mandated the banks to give immediate value

Thanksful:


That you don't see beyond your nose doesn't make the policy a bad one. That tribe you talked about has consistently stood on the lane of true change since genesis.

Indeed. Good policy indeed. Is there any progressive society where people were herded like cows to adopt a cashless policy? For your information, Nigeria before now has been the biggest user of cashless transaction in Africa, at least in terms of volume. So in essence Buhari did nothing but bring untold hardship to Nigerians. Only hatefilled creatures are hailing him thinking it would favour a certain candidate.