But the CBN created the whole issue through poor planning and implementation.

No, Nigerians are not the mumus here but the CBN Governor who appears to be more focused on trying to influence an election, thereby politicizing CBN policies, in a bid similar to usurping the role of inec.

Ordinary Nigerians are really having it rough, especially those in the informal sector SMES who are no longer enjoying the necessary patronage to survive economically. This is a Currency Mop-up but is being described as a currency swap. The cashless banking infrastructure is highly inadequate and nothing to rely on.

There is now a cost of purchase of the Naira akin to black market added to the already excruciating energy, food and transportation inflation. Hence, most small businesses are are being adversely impacted as we speak. So CBN, through this policy implementation, may have succeeded in destroying some businesses of mostly the poor while empowering the rich to take further advantage through the already fat enough banks. In other words more money is being taken from the poor and being given to the rich in broad day light.

Worst still, the elections are looking more uncertain or maybe seriously flawed if the protests and violence continues to grow across the nation. Other forms of insecurity may show up- burglary, bank ATM vandalism, outright bank or bullion van robberies etc

People must do all to not fall sick or else may risk fatality from the fallout of scarcity of cash. Cash used to be a good substitute for online banking hitches during emergencies, even at government hospitals, how much more private ones. Payment is usually required before treatment.

A higher voter apathy may be recorded during the elections because of money scarcity, hunger and frustration of most city and rural dwellers who are voters.

Finally, the policy could have been helpful if thoughtfully and carefully implemented over time, and with the potential to limit ransom demand by kidnappers, and perhaps reduce inflation. But Emefiele had other plans. Bandits are now able to purchase Naira because a black market has been heavily created due to scarcity. Or didn’t he know this was going to happen?

This implementation has been the poorest ever causing more harm than good. This is reckless especially at a time when the global economy has been battered, and most countries are trying to cushion the effect of the economic impact to their citizens. Nigeria is doubling down on making it’s citizens poorer, and some people are hailing the CBN.

Emefiele’s main focus of influencing the outcome of the elections whether by instigating the anger of the electorate at the government and its party APC or simply limiting vote buying by politicians may have already happened on its own (if the recent trend of voters’ choice that we have seen recently in spite of inducement). Hence, there was no need for the CBN to politicize any of its policies.

Now CBN governor is meddling with INEC chairman, EFCC chairman, ICPC etc. All government institutions that should be completely independent and serve as a check and balance to each other. This is an eyesore!

07kjb:
Hold your commercial banks accountable,leave CBN OUT OF YOUR MOUTH
NIGERIANS TOO MUMU

That is Emefiele’s bank so nothing will be seen there.

psychologist:
What did you people said happened to zenith bank again

Wait, is it not ATM, and should therefore be round the clock, or what is all these rationalization for on a machine created to serve customers round the clock?

Heathrow44:



Swear say no be "LOTUS bank" werey bank using outdated low budget ATM i mean if its not accepting the two highest cards VISA and Mastercard is it Verve it is happily accepting , LOTUS bank not a serious bank, imagine by 9am they refuse to load their atm with cash, whereas their mates sterling, Unity were already dispersing at 7:40am

All the strong opposition parties should go and thank Emefiele! He and his NNPC counterparts may have single-handedly won these elections for the opposition parties.

Congratulations in advance!

Islie:


https://punchng.com/buhari-under-pressure-to-end-fuel-naira-disasters/?amp

Sorry!!! May the Lord comfort you. 🙏🏾 Amen.

Chee59:
It's wonderful how AS are always complaining about trivial things.
Meanwhile people living with Sickle Cell are treated like a vile abomination on every level.
Do you know how many jobs I've lost? How many men I've loved and lost? Because of a chronic illness passed down to me from my parents.

True!

ribbit:
I wished she had worn iro and buba to the Grammy though.

Wow!

gfelo:
You do not even mention filling station that is selling cash to pos operators

Zelenski probably expected worse but got emboldened after knowing he would not be killed.

Similarly, in diplomatic circles it would be inappropriate for Putin to say he intends to have Zelenski killed, even he meant to.

Maybe if Zelenski had been told otherwise, he would have considered and made more people focused decisions for the benefit of the Ukrainian people.

Thanksful:
This got me laughing. After he was told Putin will not kill him, he went to his office and made a video that his not afraid. Wtf

Ah! That will be catastrophic indeed if true!

Maybe all major candidates should steer clear of the southeast to avoid stories that touch, and the unpredictable reprisals that may likely follow.

The security agencies should give increased security protection to all the presidential aspirants.

TRUMPwedsBUHARI:
IPOB Says It Uncovered Plan To Assassinate PDP Presidential Candidate, Atiku In Southeast Nigeria



https://saharareporters.com/2023/02/05/ipob-says-it-uncovered-plan-assassinate-pdp-presidential-candidate-atiku-southeast

Since the new notes are being sold, will the bandits not have enough to buy them since they have enough old Naira notes. Emefiele is funny tbh.

id911:


https://saharareporters.com/2023/02/04/terrorists-are-mocking-central-bank-governor-emefiele-they-have-surplus-new-nigerian

You may have a point but nothing strong enough to counterbalance the optics available as the facts of the first coup in Nigeria.

Find screenshots of the coup plotters and confirm the tribes most represented (I used screenshots because I have observed deliberate tampering of facts after they are shared). Also compare the government members listed alongside to see the tribes most ably represented (igbos had Azikiwe, Orizu and Ironsi in the 7 man cabinet). The striking thing is that all those part of the government were killed except the Igbos amongst them. This is why the coup that was initially celebrated by most Nigerians was in retrospect labeled an Igbo coup (whether wrong or right). This is why it is important to always have deeper reflections devoid of raw and hasty emotions.

If you still don’t see this conspiracy as valid, proceed to check the screenshots of the full list of the casualties/murdered to see how other tribes except the igbos were mostly affected. This is why the death of the Igbo quartermaster didn’t carry enough weight to counterbalance the labeling of the coup as igbo’s.

It was also too convenient to explain away why Igbo officers failed to kill their own when others were killed. This seed rallied too much raw emotions that led to programs in the north and eventually the civil war.

Igbos seemed to have a different standard for their own leaders but always try to hold other tribe’s leaders accountable. When a single Yoruba (Awolowo) made or is perceived to have made a mistake, it is the whole Yoruba people and they are still liable in the eyes of the Igbos. But when Azikiwe, refuses referendum from being added to the constitution, Igbos simply deny him or say it was a long time ago, attempting frantically to overlook how this has constrained every tribe including igbos till date.

Same thing with the unification decree by General Aguiyi Ironsi who collapsed all the regional governments into a unitary one, thereby creating all the restructuring and resource control problems Nigeria is battling till date. Igbos never talk about this.

By the way, it was another Igbo, Nwafor Orizu who was the Speaker of the parliament that handed over the reigns of government power to a fellow Igbo General Aguiyi ironsi under questionable circumstances.

I hope you can now see what others see from the outside because Igbos never seem to dwell or reflect on the problems their own forerunners created but do not miss a beat vilifying all the past leaders from other tribes, and insisting only they were the problem.

We know igbos suffered untold hardship as a result of the civil war, which is very regrettable and should never have happened. However, the buildup to that war was seriously fueled by the available optics showing mostly igbo military officers seizing power and killing all other tribes in the government but sparing their own.

So no history is twisted. Just setting the records straight that Yorubas can never be the most trbalistic tribe in Nigeria, since they don’t own the records listed above.

Believeintruth:


Oga do not again try to twist history. Ejoor was the main reason why the coup in the Eastern region failed when he left Lagos and headed for Enugu where he commanded rhe battalion he gave orders to change the current guys in charge of the armoury and arrested those who left the barracks without authorisation who incidentally were at the Premier's House waiting to arrest him once the Papal Nuncio left his residence. Nwafor Orizu was never I'm the list of those targeted. The people in the list that escaped were K.O Mbadiwe that escaped by jumping the fence of his residence when he found out that Okotie Eboh was arrested. Ironsi also escaped because he was tipped off by a call from Col Yakubu Pam shortly before he was arrested. Azikiwe was likely tipped off by Ifeajuna because they were cousins.

You wany to mischievously dodge that an Igbo senior officer was killed in that coup that is whybyou have refused to answer my question as to what tribe was the then quartermaster general of the Nigerian army who was shot by Ifeajuna? Also Ifeajuna was the mastermind yes, but himself and Major Ademoyega were the real minds behind that coup. Please tell us which tribe was Major Adewale Ademoyega from also one of the participants in that coup Lt Fola Oyewole, please tell us the tribe he is from too.
Oga even the coup stopped the ongoing riots in the Western Region. So stop the lies and propaganda.
This games have failed look for something else and 1966 is a long time ago to use and whip up anti Igbo sentiments, your evil plan has failed. Don't twist history next time. I also quoted credible sources and unlike you I don't selectively spread them in a bid to spread disinformation by twisting facts.

But you igbos are allowed to instigate hatred against the Yorubas with your one-sided analysis that overlooked how many time igbos had partnered with the north politically without being labeled as tribalistic or even begrudged in anyway.

By the way, Major Ifeajuna was clearly identified as the mastermind with Major Nzeogwu sharing the leadership role of the coup with him according to all credible records.

And the death of the quartermaster, a soldier that is trained for such an eventuality even looked more circumstantial, and therefore cannot in anyway be compared to the cold blooded murder of the Premier of the Northern Region Amhadu Bello, the Prime Minister Tafawa Balewa, the premier of western region Samuel Akintola, Finance Minister Festus Okoh Tiebo etc.

Nnamdi Azikiwe strangely stayed away from the country for so long until the coup took place. The premier of the eastern region Michael Okpara was spared under very questionable circumstances. Speaker of the parliament Nwafor Orizu was spared too. These were the facts that gave the north as a block the impetus to successfully label the coup as an Igbo coup meant to grab power forcefully. Of cours this eventually led to an avoidable civil war.

The bottom line is that Igbos have more baggage that can be readily interpreted as being the most tribalistic if other tribes decide to count every historical and online attacks scores. So stop the attempts to label Yorubas as the worst tribalist, and I’m sure the mostly amiable Yorubas would equally sheath their swords.

Believeintruth:


Hope you know that there were two masterminds of that coup Ifeajuna and Ademoyega. And please remind me of Ademoyega's tribe. After you do that remind me of the tribe of the quartermaster general of the Nigerian army who was shot by Ifeajuna. His name was Arthur Unegbe, please remind me of his tribe and tell me how the coup was tribalistic. Dimka's coup killed a Northerner but it was not tagged a middle belt coup.
Look Oga do not mischievously attempt to use the past to incite hatred against igbos that talk is stale. Look for something else that can stick this one no work.

Yeah sure. Perhaps those who masterminded (Major Emmanuel Ifeajuna) and executed the coup that tagged the first republic leaders as corrupt, killing other region’s leaders were Yorubas, right? This was while all Igbo leaders that were part of the government were somehow spared.

What is more tribalistic and corrupt than viewing people, their actions and performance only through a tribal prism? Why not tell us which tribe does this by default everyday of the year. Or is it because other tribes in Nigeria have learnt to let sleeping dogs lie?

Hendrixky:
Yeah...north is well educated than we thought

After this election we are going to be aware of certain things
1)the problem of Nigeria is tribalism and not all about religion but mostly tribalism
And hausas are not really tribalistic the way we thought
But the yorubas are more tribalistic

Because as at the time Buhari was sick and travelling for medical attention we all was clamouring for him to hand over to a healthy and vibrant Osinbajo. We regretted our action of being stupid to elect a sick old man

But now we have a vibrant and healthy Peter obi contesting but the yorubas because of tribalism wants us to install tinubu again knowing fully well that the world will mock us

The worse part of it is that the pain and memory of the incessant travel for medical check up by Buhari is still very fresh in our mind.not like it happened 20 years ago. It just happened yesterday..

And for all those quoting me. Please am not any of this tribe not igbo, yoruba or hausa. I'm from the South South

May you not be a seller of perishable items at this time. The items will be so cheap!

nlfpmod:


https://nairametrics.com/2023/02/03/el-rufai-accuse-cbn-of-printing-only-n300-billion-new-notes-after-mopping-up-over-n2-trillion/

Nigerians going through it: Governor El Rufai lamented that many Nigerians are suffering, even as traders of perishable goods are losing their wares daily from low patronage.

Citing tomatoes as an example, El-Rufai said some sellers from the North who travelled to Lagos with their goods experienced wastage because buyers lacked the cash to purchase them.

Very good point.

She needs to get a lawyer before even speaking to them at all.

oluwoleife:
Arrested for tampering with the new notes is understandable. Why EFCC dey recover vehicle?

Well said. The Emefiele guy is a huge disappointment. His policies keep enriching the banks at the detriment of the Nigerian bottom f the pyramid.

Not a very bright guy except if he is doing all he does deliberately, in which case he stands indicted.

Why implement such a draconian measure before an election? Well the did is done, and apc must bear the consequences of their stupidity. As if there was not enough problems already!

Obaofaba:


So Nigeria should burn because the rich people have stashed the new notes among themselves?

Why should the poor people who are more in numbers suffer for the crimes of the rich?

Good assessment.

A lot of people are incapable of a balanced opinion outside their interests, tribe or religion. It is the worst form of corruption when you view everything through these listed lenses.

post=120610612:

Definition of a hypocrite...

The News is talking about 2 TV stations, but it is only one you can castigated.
Shame on you!

Amen!

Ifeny:
Jesus.


May those 40 people in that rubble be rescued safely!

Even if the poster was mostly correct with his assertions, number 7 completely invalidates the argument, or did the APC people hack or break into the INEC server to get the report presented to the tribunal?

7. This was what happened in the case under review, the APC fraudulently got a report from the server while synchronisation is ongoing while the PDP got another report from the same server after more data has synchronised.

You have a point. POS merchants now sell Naira going by the rates.

kereman1:
Born in Nigeria, we have a criminal natural instinct imbedded in us.
Bankers, POS vendors, transporters are cashing out big time.

Wahala

Wawu!

To discerning minds, this is the dawn of a new Nigeria already. If you don’t gerrit then forget abourit.

Calling a spade a spade is an already enough departure from the previous norm.

Restructuring on the horizon… What a paradigm shift!

Naijalarry:

https://www.youtube.com/watch?v=z3Zh0TfgVd4


https://www.youtube.com/watch?v=ZhK5ld6ui7A


https://www.youtube.com/watch?v=SaZoVWkq1oQ

Mr El-Rufai faulted the Buhari administration for failing to implement the removal of petroleum subsidy and restructuring of the country, noting that those actions are inconsistent with the manifesto of the APC.

The Governor of Kaduna State, Nasir El-Rufai, has dissociated the ruling All Progressives Congress (APC) and its presidential candidate, Bola Tinubu, from some of the policies of the current administration led by President Muhammadu Buhari.

Mr El-Rufai, during an interview on Channels Television on Wednesday, said the decision of the Buhari administration to redesign the Naira and mop it up in a very short period could ignite voters to reject the ruling party at the 25 February presidential election.

The governor noted that all the blames for the redesigning of the Naira should not go entirely to the Central Bank Governor, Godwin Emefiele, noting that Mr Buhari has a history of redesigning the currency with the intent to check illicit funds.

He also faulted the administration for failing to implement the removal of petroleum subsidy and restructuring of the country, noting that those actions are inconsistent with the manifesto of the APC. He, however, blamed all these on “elements” within the presidential villa, who lost at the presidential primaries.

“These are not the policies of the APC, this is not the policy of our candidate (Bola Tinubu), this is the policy of fifth columnists. They want to bring us down, they want to bring this country down.

“We have held the conversation (subsidy removal) at the National Economic Council. It was Buhari himself that made the decision that this subsidy will hurt the poor. It is not about national conversation. Everyone agrees but the president took that decision– that is why our presidential candidate, in the same political party, says I will remove it. It is not a party position. It is a personal decision of the president.

“The people in the villa—most of them are not (members of our party). I believe there is. I believe there are elements within the villa that want us to lose the elections because they did not get their way. They have their candidate, but their candidate did not win the primaries. I believe they are trying to get us to lose the election. They are hiding behind the president’s desire to do what he thinks is right.

“People are blaming the Central Bank Governor, but you have to go back to the first outing of the president. He did this—Buhari /Idiagbon regime changed our currency and did it in secrecy with the view to catching those with illicit funds. It is a good intention, very clean intention but doing it at this time just does not make any political, economic sense,” he said.

Crack within the APC

Over the past couple of weeks, there has been an increase in bickering within the upper echelon of the ruling party since the commencement of the redesigning of N1,000, N500 and N200 currency notes by the CBN.

During a campaign rally in Abeokuta, the Ogun State capital, Mr Tinubu took a swipe at the policy and the scarcity of petroleum products in the country. Speaking in Yoruba, he said the policies were targeted at him.

Many interpreted the outburst as a sign of cracks between Messrs Tinubu and Buhari, particularly in the face of the perceived lukewarm attitude of the latter to the campaign of the former.

Despite being the chairperson of the APC presidential campaign council, Mr Buhari has only attended four of the campaign rallies.

Also, the Kano State governor, Umar Ganduje, a very close ally of Mr Tinubu, recently wrote a letter to Mr Buhari ahead of his visit to Kano State, stating disquietness in his state against the administration over the naira redesigning.

Although the president later visited the state after the extension of the deadline for the legality of the old naira notes, there were reports that some angry youths allegedly stoned the convoy of the president.

Also, recently, Vice President Yemi Osinbajo, who contested the primaries against Mr Tinubu, said the naira redesigning will curb “illicit election financing.”

Mr Osinbajo, an erstwhile ally of Mr Tinubu, has refused to join the campaign train. Coincidentally, Mr Tinubu made the statement in the home state of the vice president, Ogun. It was in the same state he made the famous “Emi lokan” speech during the primaries. In that speech, he reminded Messrs Buhari and Osinbajo of his role in their emergence as president and vice president respectively.

Those sabotaging reforms not punished….

Mr El-Rufai revealed some of the actions taken to reform the country, notably the removal of petroleum subsidy and restructuring. He stated that on several occasions the actions are not taken despite an agreement with the president.

He accused the defunct Nigerian National Petroleum Corporation (NNPC) of sabotaging the removal of the subsidy regime.

“When we came into office, the price of oil collapsed to $26 per barrel. That was when we thought—I was one of the persons that led the governors to the president that this is the time to deregulate the market because the price of oil was so low. That was when it was moved up to that price of N144.

“The whole idea was that the government would hand it off. If the price moves up slightly, then you adjust it slightly. But who sabotaged it? The NNPC made an announcement and linked it to the president as if it was the president that fixed the price.

“We submitted the report, the president agreed with it, and action was supposed to be taken. Some bills were even drafted and sent to the National Assembly. It did not get the traction it needed.

He added that “There are some things that we sit with the president and agree on, and he says this will get done and it does not get done. And those that refuse to get them done don’t get punished.”

With Mr El-Rufai’s comment, the ruling party appears to be heading to the general elections with a divided house.

Source- https://www.premiumtimesng.com/news/headlines/579250-2023-el-rufai-dissociates-apc-tinubu-from-buharis-policies.html

Lalasticlala
Mynd44
Nlfpmod

Amen!

Lana40:
In this coming election, I am not sorpporting anyone, what j just pray for is for God to give us a good leadership 🤟 that wi make things better, thank you

Contact me for your academic assignment, any field of writing am available, just WhatsApp me with the number 👆👆on my signature

True!

Seun:
How much is 4 million naira for a bank branch? If you load that in a group of ATMs it can't last more than a few hours. This is smoke & mirrors.

Name and shame if serious or save us the lamentations.

By the time they compute the losses to the economy based on this policy…

Lionmachala:
This is what is going on, I have to stop my project for now base on what is happening. The labourer refuse to collect old note.

Noted.

Dear Emefiele, thank you for being such a genius!

The banks are better for it, while the people suffer!

Biodun556:
₦700k New Naira Notes Sold For ₦1m At Party, Claims BBNaija Star Whitemoney

Big Brother Naija ‘Shine ya Eyes’ edition winner, Hazel Onuo, popularly known as Whitemoney, has lamented how the new naira notes are sold at parties.

The BBNaija winner lamented the scarcity of the new Naira notes via his Instagram Story on Monday.

He said, “Nigeria is a beautiful country. We just have corrupt people handling the sectors that serve human purposes. How do we explain that there is no money in the bank both new notes and old notes, e no dey bank.

“I got to a party and I saw bundles of mint , ₦200, ₦500 and ₦1000. Who dey sell money give these people? Who dey give them? That is not even the worst part. The worse part is that 700k was selling for 1m naira with 300K gain on it."

Credit: Instagram | whitemoney__


https://www.youtube.com/watch?v=BCA_9FaUi14

https://www.facebook.com/194110890622942/posts/pfbid0WrcsuHWCeoSsYdkDr24bvPx6cGraLY5YR8J2HKdteMbaKD4qhtZ3JN4s4Ey3t9Wrl/?app=fbl

https://www.facebook.com/161915460542267/posts/pfbid02ZbX2yi72AFpgLw59CMPTULZJTAgDhnzdRt78YqFLoda7exTE72amHY7e9Qt3kheKl/?app=fbl

Unless he is working for the opposition against his own party (APC), which by the way is welcome to the extent that a better candidate and party emerges at the presidency and state levels, what he is doing makes no sense.

If Buhari was seeking second term, would he be making life a living hell for most Nigerians shortly before the polls? If not, what is his motivation for making the masses suffer and angrier than ever?

If I was an apc member or better still stalwart, I would take this guy to task over his interest in the politics of the nation. He appears to have heavily politicized the CBN and its policies.

ibrocool:
He really needs to be arrested for causing confusion in this country.

I blame Emefiele. Period.


[quote author=KingExalted post=120516409][/quote]