Can The Supreme Court Revoke The Naira Redesign Policy?



https://www.youtube.com/watch?v=c9U2LaJUbIs

sarrki:
NIGERIA UPDATE: ABC of Currency Redesign vs. XYZ of Cash Confiscation Explained:

1) Currency redesign was approved by the President and announced. Currency recoloring resulted.

(2) Currency swap was envisaged by section 20(3) of the Central Bank of Nigeria Act 2007 as approved by the President. Swap means I take N100,000 to the bank in old notes and I receive N100,000 immediately in new notes. No more, no less.

(3) During implementation of the cash swap, the CBN withdrew over N2 trillion from circulation but printed only N400 billion, so in effect,

(4) Currency confiscation was then unilaterally and unlawfully implemented by the CBN. Trade and exchange gas collapsed. Human suffering, impoverishment and economic contraction resulted.

(5) The policy objective was derailed into a deliberate national fiasco to sabotage the elections in the name of preventing vote-buying. All efforts to get CBN to implement what was lawfully approved failed.

(6) Some State Governments had no choice but to approach the Supreme Court for adjudication. The APC as a party and the Progressive Governors Forum are unanimous that policy implementation must be reviewed, and

(7) Full compliance of the subsisting ruling of the Supreme Court be observed until final judgment on the suit instituted by the State Governments.

NothingDoMe:
How come you left campaigning for Tinubu to be fighting Naira swap? Why this naira swap pain una like this?

HIGHESTPOPORI:
Vote buying

CoronaVirusRelo:
El Rufai is brilliant!

Look at how he constitutionally made valid points!

Damn! I duff my hat!


Shettima is another brainiac!

inoki247:
Lol this Govt just confused us with English...

I ask again wetin be Cash swap if I break my Piggy bank see 100k old note inside and take it to bank no be to come bak home with new one...

This is not a Cash swap or a Cash Swap cos you no fit take 100k to bank like this and see 10k of new note colet bak....



Make them sha print money give INEC this one wey INEC dey complain say he Neva get cash from CBN make dem allow us du election comot mak we know say Buhari Chapter don end...

rolams:


Won't the 100k be deposited into your bank account?

inoki247:



And at the same time I have the right to withdraw it back....

And the Cash Swap I know of back in the days people comes with Bus and Megaphone 📣 going round telling people to change derr old money for free you don't even need a bank then just give them the old money you take a new one,...

So what they're doing right now can't be called cash swap you people should stop confusing us ....

sarrki:
NIGERIA UPDATE: ABC of Currency Redesign vs. XYZ of Cash Confiscation Explained:

1) Currency redesign was approved by the President and announced. Currency recoloring resulted.

(2) Currency swap was envisaged by section 20(3) of the Central Bank of Nigeria Act 2007 as approved by the President. Swap means I take N100,000 to the bank in old notes and I receive N100,000 immediately in new notes. No more, no less.

(3) During implementation of the cash swap, the CBN withdrew over N2 trillion from circulation but printed only N400 billion, so in effect,

(4) Currency confiscation was then unilaterally and unlawfully implemented by the CBN. Trade and exchange gas collapsed. Human suffering, impoverishment and economic contraction resulted.

(5) The policy objective was derailed into a deliberate national fiasco to sabotage the elections in the name of preventing vote-buying. All efforts to get CBN to implement what was lawfully approved failed.

(6) Some State Governments had no choice but to approach the Supreme Court for adjudication. The APC as a party and the Progressive Governors Forum are unanimous that policy implementation must be reviewed, and

(7) Full compliance of the subsisting ruling of the Supreme Court be observed until final judgment on the suit instituted by the State Governments.

rolams:


Do you know the meaning of cashless policy?

inoki247:



Cashless policy not with money that doesn't have much value....

Don't bring UK and US or Europe as example...


Check any country that's a less value Currency and see for yourself if they operate Cashless policy.,..


E.G CFA and Korean Won Google dere daily limit....


So cashless Policy's can only work with Currency that as much value the more valueless ur currency is the more cash you will be needing you can't compare someone that withdraw 1000naira with someone that withdraw 1000usd are they the same value....


This Policy is not meant for Nigerians it must be reversed afta election....


In the olden days when Naira as Alot of value with ordinary 100 naira you withdraw from bank you can do Alot of things not now where we even pay up to 1k 3k as charges monthly when we calculate our total bank charges for the month....


If the money as more value we won't be needing more cash......

When you can buy land with just 1000 naira why will you be withdrawing excess....

rolams:


You are still not getting it. I have not mentioned anything other than the meaning of cashless policy. When we are able to get the meaning, then we can talk about other things.

I may not even mention any country in my explanation.

inoki247:



cashless policy can't work in Nigeria because if the value of the money that's what I'm trying to tell you....

And also our bank Network and even the service provider can't bare much traffic...

rolams:


Ooooooh God! Why haven't you answer my question nah!! What is cashless policy?

Your over sabi is too much ooo!

Do you know that you are talking to an economist?

inoki247:



Cashless policy comes with Cash mop up....

So if we are to start Cashless policy people should stop adding Cash swap to it ...

rolams:


This man is dull. Is this what he relies on to reverse a monetary policy?

He needs to go back to secondary to study economics.

He needs to understand fully the meaning of cashless policy.

sarrki:


El Rufai is a first class product go and verify

Ipobians are too arrogant