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It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 (64147 Views)

We Did Not Authorise Commercial Banks To Collect Old ₦500, ₦1000 Notes - CBN / ₦‎1 Trillion Old Notes Received By CBN, Banks - Emefiele / CBN Redesigns 200, 500 & 1000 Naira Notes (2) (3) (4)

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Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Slynation(m): 4:45pm On Mar 07, 2023
I have never seen a country that would purposely embarked on a futile journey just to punish their citizen...!! Buhari and Emefiele (two confusionists)

9 Likes

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by omowolewa: 4:46pm On Mar 07, 2023
What was he trying to achieve and what has he achieved or destroyed

1 Like

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by JAMO4REAL1(m): 4:47pm On Mar 07, 2023
Tinubu is a strong man

6 Likes 2 Shares

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by sammsimm(m): 4:47pm On Mar 07, 2023
Femigolfd:
All the way up

Ode
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Smartguyboy(m): 4:48pm On Mar 07, 2023
Fahdiga:
Traders are still rejecting it. CBN should issue a statement about this.
So funny CBN have to make statement after supreme court pass judgment nobody trust the law in Nigeria again .

Tinubu time will even be worse .
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Josephkabila12: 4:49pm On Mar 07, 2023
I collected old notes yesterday at GTBank Iju, Lagos State
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by MartinsD12(m): 4:50pm On Mar 07, 2023
jumper524:

https://www.thecable.ng/it-has-been-approved-by-cbn-banks-begin-dispensing-old-n500-n1000-to-customers/amp
CBN should stop being a coward and speak up that dunce man since he knows he doesn't have any fucccccckin option than to obey supreme court order or go to jail for life
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Trustme2(m): 4:51pm On Mar 07, 2023
That's not the issue. The real issue is the withdrawal limit
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Carlyboi(m): 4:51pm On Mar 07, 2023
I guess Emefiele is suddenly too camera-shy to give the public CBN’s stand on the Supreme Court ruling on the usage and exchange of the 500 and 1000 notes. shameless clown the whole charade has finally boomeranged,economic saboteur has no face to save no more.

Anyways he still needs to say something to save the traders and the other business people the unneeded stress there is no point reintroducing the notes in a “ hush “ manner when you were loud about it not been a legal tender earlier.

3 Likes

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by MyVILLAGEpeople(m): 4:51pm On Mar 07, 2023
It was just all politics and people died because if this policy.

2 Likes

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by dalass(f): 4:52pm On Mar 07, 2023
Quest7777:
The whole Naira Swap confiscation scheme was complete nonsense.

Though some people are still rejecting the notes, but that will certainly end by tomorrow when the info would have gone round.

The sudden naira [i]swap[/i] confiscation and it's subsequent wahala has the only merit that we no longer hear of wanton kidnapping every day.

I hope they don't flood the streets with too much money. Money induced crimes have gone down a lot. Though it has been very stressful without cash. God help us

2 Likes

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by 2chainz411: 4:53pm On Mar 07, 2023
28plus:
Does it mean that bank will give me my tomorrow if I go there?
yes,I received 5000 naira from the old one thousand naira note,not only me was given that money...it is real!
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Hussein035: 4:54pm On Mar 07, 2023
princeade86:
How true is this? Thru back door. Lol. Emiefele should do live broadcast and buhari also.

If you are waiting for EMEFAILURE to do broadcast it is still fair but you see buhari will never do any disgraceful broadcast that will make him look more clueless

2 Likes

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by jmoore(m): 4:54pm On Mar 07, 2023
jumper524:
if banks are issuing it, why should traders reject it?
This country sef too like wahala and suffering.
Seun please push to better audience.



So they can start making the traders to run helter and skelter again by January 1st?

Personally, I will reject it.

1 Like

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by soil4soil(m): 4:55pm On Mar 07, 2023
jumper524:

https://www.thecable.ng/it-has-been-approved-by-cbn-banks-begin-dispensing-old-n500-n1000-to-customers/amp


Emefiele is ashame to come out and talk. Even PMB knows that this policy has failed.
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by AlmightyMod(f): 4:55pm On Mar 07, 2023
Banks are actually issuing out the old notes but the problem is that you cannot deposit the old note back except you follow the CBN deposit procedure. You can only use your account to deposit once.
Now back to why people are rejecting it is because petrol stations are rejecting it because there is no way they will be able to deposit it back to the bank that was their reason. CBN need to issue a statement concerning this issue so the sufferness will reduce abeg

7 Likes

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Captain8(m): 4:55pm On Mar 07, 2023
emifide should just make an official statement then tell the security agents to arrest him and tell them to give 20 years impreasonment
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by 10kgod(m): 4:56pm On Mar 07, 2023
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by AngelicBeing: 4:56pm On Mar 07, 2023
cheesy
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Passionet: 4:56pm On Mar 07, 2023
Fahdiga:
Traders are still rejecting it. CBN should issue a statement about this.

That's not true, in fact the traders are the ones giving you back the old notes for change
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Passionet: 4:56pm On Mar 07, 2023
Emefiele quietly gave the directive. The man is not a strong man.,
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by sofeo(m): 4:57pm On Mar 07, 2023
Alright



Check my Signature
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Passionet: 4:58pm On Mar 07, 2023
Captain8:
impreasonment

Imprisonment

1 Like

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Brushstrokes20: 4:58pm On Mar 07, 2023
The LAWLESS, lifeless, sadistic anarchist and emeFAILURE are NOT ABOVE THE laws of the land, so they've got no damn choice !

Only senseless scum sets a whole farm on fire just to catch a rat undecided

ENOUGH OF NONSENSE undecided

3 Likes

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Aremolekunowo(m): 4:58pm On Mar 07, 2023
FOLYKAZE:
I do not understand why these petty traders are rejecting the old notes. They refuse to accept transfer and also do not have pos terminal that will enable card use. The national orientation agency should educate these folks if they intend to push the cashless policy. Also the banks should upgrade their system. Imagine I bought and paid through transfer for some items but payment was completed after 9 hrs. They should make things seemless.

Out banks should introduce stripe cards. This chip na waste of time
NATIONAL ORIENTATION AGENCY NOA IS DEAD AND BURIED NOT EXISTING AGAIN.
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by bassdow: 4:59pm On Mar 07, 2023
make e no be say some Banks wan use style release OLD NOTEs wey don hang for dem hand.

I suspect they would agree should they receive more InFlow than outFlow of OLD NOTEs .

POS dem do similar. Dem continue paying Old Notes till they exhausted them, then dem close shop.

Las las, should CBN fail to give the required directive, na people Money go loss.

As for Me, I no even TRUST the new Notes because e fit be FAKE or CBN fit wake up one Morning talk say all NEw NOTEs no valid again, say dem use am do TestRun.

As soon as New Notes enter my hand, I break Am DoWn, and any wey remain, no go tey

1 Like

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Elsueno: 5:00pm On Mar 07, 2023
Until a categorical statement by CBN is issued on d acceptance of the old notes, Pls do not accept it.... Banks never loose money, they can reject same old notes they give U today d next day if CBN refuse to collect from them.


As for me, I don't remember d supreme court having d power to decide on legal tender...So either new notes or transfer, otherwise no business 😤
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Abdul4trust1(m): 5:04pm On Mar 07, 2023
Fahdiga:
Traders are still rejecting it. CBN should issue a statement about this.
Banks are issuing old notes while traders are rejecting it. Is there sense on the part of the trader?
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by DeepSight(m): 5:05pm On Mar 07, 2023
Trustme2:
That's not the issue. The real issue is the withdrawal limit

The SC also said the withdrawal limit is illegal.

1 Like

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by adonainana: 5:05pm On Mar 07, 2023
So what was the point of of what Nigerians went through

What was the point of spending billions in printing new currency

What was the point of setting a tight deadline if the purpose is now defeated

Doss CBN even know what investors confidence is

Do you know how many international investors would simply see what happened with the cash r3deisgn and simply change their minds about investing their money here

It's one thing for some things to be beyond your control its another to be the architect of your own misfortune

7 Likes 1 Share

Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by Abakelawal(f): 5:05pm On Mar 07, 2023
Nawa ooo this news heading is different from what is written inside the news itself
Re: It’s Been Approved By CBN’ — Banks Begin Dispensing Old ₦‎500, ₦‎1000 by MichaelSokoto(m): 5:06pm On Mar 07, 2023
Kidnapping & armed robbery will resume again now.

sad

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