Ogonimilitant:
Buhari is wicked. Why destroying this instead of giving them to the poor masses if you don't need them.

Idiot. You don't know how economics works..

Ogonimilitant:
Buhari is wicked. Why destroying this instead of giving them to the poor masses if you don't need them.

The moment the money is been given to the poor masses.. Nigeria will slip into inflation and there won't be enough goods to be purchased as there will be scarcity and hike in prices.. then the economy will definitely collapse while you suffer more and more. You'll use 1 million naira to purchase 1 doughnuts. Hope you understand?

This is so nonsensical

Madness

What was even the essence of shredding? Why couldn't they set fire one time?

helinues:


If the same old notes are still legal tender, why should an individual shredded that amount of money?

that money had been destroyed already. it is just trending now

Na one Aboki gat that Money.......

Let them print another we have nigeria security printing and nibting co ltd to print another one.if it will cost them money i dont want want to know.

Ogonimilitant:
Buhari is wicked. Why destroying this instead of giving them to the poor masses if you don't need them.

Giving it away in an inflation economy, you guys just talk, what is the economic equivalent for the money, what production is it backed up with, very funny. A central bank is trying to fight inflation with its last blood, so those poor masses what have they contribute to get money. That why a centralized financial system has to be jettisoned.

Supremos:

https://www.youtube.com/watch?v=EE255YP2GXs



Is someone not supposed to be held accountable for this madness

Which madness?
If it's CBN that destroyed these cash, it's within their power to do so.
What do you think happens to cash audited dirty?
The CBN carried out naira redesign policy, what do you expect to happen to the old notes?

Buhari's clueless government. . . Clueness pass clueness.
The saga continues. . ..

Owologbo:


Which madness?
If it's CBN that destroyed these cash, it's within their power to do so.
What do you think happens to cash audited dirty?
The CBN carried out naira redesign policy, what do you expect to happen to the old notes?

how about now that they have reversed the policy?

This video of shredded money is not to be believed as true it is at best a floated fake news. Why?

1. The money that the public submitted to the banks for onward transmission to the CBN is government money. On government properties the process of scrapping to the destruction has courts involved to authorise the particular amount of money.

2. All the scrapping of the money must be documented in Nigeria government accountant general office which is outside CBN and they can all be queried by competent courts of jurisdiction.

3. If these videos showed money from the CBN then Nigerian lawyers and NBA leadership has to seek punishment for these people that have violated Nigeria government properties without appropriate authority.

4. The CBN official are just a department of the federal government in charge of monetary matters not the scrapping or destruction of old currencies.

5. If the CBN officials are allowed to comit this blue murder without punitive implications, Nigeria and Nigerians must be ready for a future of confusion and attendant catastrophe of unimaginable dimensions happening without anyone being able to make amends.

I don't wish this is ever true.

Ezeego1:



What do you think the next administration will do to Buhari ?

He's untouchable bro

😢

Supremos:
Now that same Emefiele has ordered Banks to start using the old naira notes, what happens to this destroyed notes that runs into billions?


Who benefited most in all this back and forth policy of Buhari?

Nothing will happen, and they won't print new old notes.
The CBN wants to reduce the quantity of money in circulation, and if the CBN wants to print, it has to be new notes.

Supremos:
how about now that they have reversed the policy?

You will spend the ones in circulation till December. They can as well print new notes.

HeartlessMan:

SultanOfPuna AKA Illegal1

dis guy...omoh u dey worry ooh

National embarrassment


Such as those

are carried out under strict



supervision with heavy security.

Illegal1:


dis guy...omoh u dey worry ooh

Give us your old notes.

Dammmmmmmmnnnn it!
The DIABOLIC DUO of the LIFELESS lucifer and emeFAILURE are all shades of disasters!
Why destroy the OLD when the NEW is Grossly insufficient

How do they know it is destroying by CBN? What if this is a plot for stealing our money.

Ogonimilitant:
Buhari is wicked. Why destroying this instead of giving them to the poor masses if you don't need them.

Did you just say " To the poor masses"?
I doubt you're enlightened on how economy work with this your statement. Pumping excessive volume of money in circulation will tear any sound economy apart.

Ogonimilitant:
Buhari is wicked. Why destroying this instead of giving them to the poor masses if you don't need them.

Lol..
Make I laugh small..🤣😂
Are you for real?,🙄

Supremos:
Exactly. I think Nigerians should demand for probe

You actually think distributing that money to the poor is going to make things better?
The only thing that would come out of it is hyperinflation..
The earlier we improve production in this country,the better..

Ellasure:
This video of shredded money is not to be believed as true it is at best a floated fake news. Why?

1. The money that the public submitted to the banks for onward transmission to the CBN is government money. On government properties the process of scrapping to the destruction has courts involved to authorise the particular amount of money.

2. All the scrapping of the money must be documented in Nigeria government accountant general office which is outside CBN and they can all be queried by competent courts of jurisdiction.

3. If these videos showed money from the CBN then Nigerian lawyers and NBA leadership has to seek punishment for these people that have violated Nigeria government properties without appropriate authority.

4. The CBN official are just a department of the federal government in charge of monetary matters not the scrapping or destruction of old currencies.

5. If the CBN officials are allowed to comit this blue murder without punitive implications, Nigeria and Nigerians must be ready for a future of confusion and attendant catastrophe of unimaginable dimensions happening without anyone being able to make amends.

I don't wish this is ever true.

So,the old and dirty notes that are regularly withdrawn from circulation and destroyed by the CBN..

Do they have to seek for Court approval before they implement it?

Ogbeni..

Leave all this long epistle,the CBN has the constitutional right to destroy old and dirty notes AND they have been doing that since time immemorial.

Supremos:
how about now that they have reversed the policy?

Then they will print NEW ones..
That's how it has always been..

slimfit1:
That is the job of the central bank I don't know why people are crying.

We should not be seeing those Images is the problem. It should have been disposed securely.

rickleye:


We should not be seeing those Images is the problem. It should have been disposed securely.

It's Nigerian CBN for godsake what do you expect? We are lucky it wasn't returned to the economy again.

ganisucks:

A man had two bullion vans supply money to his house. And, you're saying, nobody else can have this much money.
CBN burnt theirs.

Stop all these repeated ignorant wailings. Bullion vans are used to transit not only money.
Use your data in your phone to educate yourself and stop being stvpid or being an e-nuisance

lereinter:


But you said there's low liquidity

So where will people get the tipper load of currency

Done forget with high inflation, income hasn't increased

Well am not a economic person, maybe you have better explanation

The point is that when everyone has more money, the value of the money drops
Just like when there is yam harvest season! The price(value) of Yam drops compared to the off season!
So in this case if they dash poor people millions and pump those trillions into the economy, the value of the millions drops drastically cos everyone has millions and there would be much money chasing few goods

slimfit1:


It's Nigerian CBN for godsake what do you expect? We are lucky it wasn't returned to the economy again.

Lol 😂. I shouldn’t be surprised

Prechgold1180:
Nigeria is a failed and confused nation

Make money

But on a normal there is nothing wrong with this

Nah central bank work be this


In other words

Ellu p

a lot is wrong. What happened to recycling? The system is wasteful simple