₦airaland Forum

Daviddson:
What are you even saying? When did you begin to support anything Buhari's govt does? What would it take those people to change their so-called hoarded naira into dollar? Is that not why naira is currently plummeting as we speak?

I’m not a Buhari supporter but that does not mean I won’t support a good policy of his.

I’m not brainless.

I’m not like you people that criticize Obi even when he’s right.

If you buy dollar and pay me cash, how will I deposit it?

dettolgel:
Couldn't they just buy dollars, pounds and euros from bureau de change?

It’s a tricky one…

How would you wanna change 100million naira to dollar and you wanna pay in cash?

That Bureau De Change you are going to pay 100million cash to, how would he deposit it without running into trouble?

Na so!

Next na Bandits go demand Ministry for Ransom Affairs.

That’s the disaster that Tinubu foisted

This trash you keep writing will not stop Tinubu ass from getting whipped at the elections.

Meanwhile, some Tinubu BATstards here are always claiming that Tinubu will win Sokoto by 1billion votes because Aliyu Wamako is the Alpha and Omega structure in Soloto.

By the time Tinubu urchins realize what is going on, Tinubu will be the only one left in APC.

Ndi ala!

Garfield1 have you seen this?

Lol

This is what we have been trying to tell some foolish and shortsighted idiots here that these corrupt politicians and kidnappers that have been hoarding naira will be forced to start throwing it around as they can’t deposit it in the bank and some fools are here arguing.

Tinubu, Atiku and co, who packed money to buy votes will be choked; together with their BATstards.

See as 2007 naira note fine.

SmartPolician:
Nairaland stop promoting FAKE NEWS

Don’t call it fake news when you don’t have contrary proof.

Did you not read during Kanu’s arrest last year that a prominent politician from the East was the one that lured Nnamdi Kanu to Kenya?

Have you ever asked yourself who that prominent politician is?

I’ve been trying to wrap my head on why gun men went after Ifeanyi Uba….

So this is it?

Goodness lord!

So that fat pig is responsible for Kanu’s misery?

Jflex07:
The Same tinubu urrchins who called the Afenifere leaders inconsequential when they said they will be supporting Obi are the same hoodlums getting excited that papa fora prayed for their god Tinubu.. You can see that these riffraffs and paid urrchins are not only confused but deluded.

Very deluded BATstards

seunmsg:
Afenifere is not a one man organization. Go and check the roll call of those that attended yesterday event. They are the real leaders of Afenifere.

Once Baba Fasoranti is present with Archbishop Ladigbolu, Olu Falae, Alani Akinrinade, Kunle Olajide, Olu Bajowa, Seinde Arogbofa, Bisi Akande, Dare Babarinsa, Gbenga Daniel, all south west governors etc, that’s Afenifere in full glory.

Obi and his supporters can keep the endorsement of the one man Afenifere led by Adebanjo, that’s their problem. It’s makes no difference to the rest of us in south west as we know our leaders.

In any case, it doesn’t matter that Jonathan is no longer the president of Nigeria. If he can gather some disgruntled elements and issue a statement, therefore Nigerian president has spoken. It doesn’t matter that Buhari is the current president of Nigeria?

Tinubu supporters have inundated the entire media space with the purported endorsement of Tinubu by the Pa Fasoranti group of Afenifere which they claim is the authentic Afenifere endorsement as against the endorsement of Peter Obi by Pa Adebanjo group of Afenifere.

But let’s put the entire scenario into some critical dissection a little.

Before 2015, Goodluck Jonathan was the President of Nigeria. But after the 2015 elections, Buhari defeated him and became the president. Now, imagine a corporate organization or individual that needs to do business with Nigeria leaving Buhari to go and get approval from Jonathan and argue that that’s the authentic approval as it does not matter if Jonathan has given up power or not. Won’t such a person be seen as a jester?

Before now, Nnia Nwodo was the President General of Ohaneze Ndigbo. But after their general election last year, Prof George Ogbozor replaced Nnia Nwodo as President General of Ohaneze. Now, imagine somebody going to Nnia Nwodo to get an endorsement and claiming that is the authentic endorsement of Ohaneze over the one granted by Heorge Ogbozor. Is that not foolishness and stupidity? And I know that Igbo people will not let such aberration go like that. The perpetrator will be punished and Nnia Nwodo will be ostracized for arrogating to himself the powers he no longer has.

Or imagine a northern candidate leaving Audu Ogbeh who is the current president of Arewa Consultative Forum (ACF) to go and meet the former leader of the group for endorsement and claim that that is the authentic endorsement. No politician will try that in the north.

That rubbish can only be done by Tinubu and instead of Yoruba people to chastise him for disrespecting their cultural organization, some of them are cheering him on.

The world is aware that at a public event in 2021, Pa Fasoranti gave up leadership of Afenifere and Pa Adebanjo took over the leadership of the group. What this means is that from the day he took power, Pa Adebanjo became the authentic leader, face and voice of Afenifere and whatever he does or says shall be interpreted as the position of Afenifere even if it’s erroneous.

So, why are some people cheering Tinubu on to cause schism and denigrate the Afenifere?

Why do you some people defend atrocity?

Why do some people approve of wrong doings and clap for the perpetrator?

Nlfpmod
Mynd44

seunmsg:
Lol, Obi supporters doing senseless damage control. If Fasoranti want to speak, he will call all the major media platforms in Nigeria and talk to them. Fasoranti is too big to be speaking through the bigoted social media account of Peter Obi supporters.

By the way, Afenifere spoke unanimously yesterday and not just one man. Yorubas from all parts of Nigeria have spoken and so shall it be. You Igbos can keep posting lies that changes nothing all over the place if it makes you all happy.

Is Pa Fasoranti still Afenifere Leader?

FromZeroToHero:
BREAKING NEWS
.
“I did not endorse Tinubu. He came with his people for prayers and as a father, I prayed for him. If Obi comes too, I will pray for him. It is not in my place to endorse anyone, that is exclusivity of the Afenifere, which I’m no longer the leader.”

...Pa Reuben Fasoranti declares.

Please attach your source so that it can be moved to front page.

Tinubu BATstards will cry blood.

They were saying Pa Adebanjo scammed Obi but it seems it’s Tinubu that got scammed by Pa Fasoranti.

fxexperts:
Baba Carry 100 billion to those abokis and they will exchange it for you. For your information the so called 10billion you are screaming about is just 12.5million dollars. Don't let poverty ruin your thinking in Nigeria. Does aboki guys are not as poor as you think. The last time i went to change $50,000 I was thinking they may not have the naira equivalent, when I asked if they can have up to that amount the aboki said even if i bring a million dollars now he will just make a phone call to some of his bosses, and they will exchange it immediately. This is just one aboki in just one BDC location not even in Lagos. and you are here telling me they cannot exchange ordinary 12million dollars. right in my presence one man came and they exchange almost 100,000 in my presence. So, take your poor thinking elsewhere.
It is because lack of proper thinking that makes your Naira becomes like waste paper. how can you come up with a sudden decision to change your currency as such short notice. What about foreign nation that are currently holding the Naira in their vault? will they have enough time to change it to the current naira note or it will just become worthless in their hands. The last time the British government change the pounds they gave adequate notice and time for all countries to return the old pounds sterling and they made the mean of returning it accessible to all.
If these investors in foreign countries cannot change this naira note for the new ones or they are caught off guard, they will never trust your naira ever again. lack of trust for a currency is a fast means of devaluing of the currencies.

You are still talking plenty…

I asked a simple question, after exchanging your 100billion naira, shey aboki will still go to deposit the money in the bank or he will keep the 100billion naira cash for it to expire in his hands?

So aboki who knows he has about 3 months to bank your 100billion naira will take such amount in cash from you and bank it how? That’s the question you haven’t answered.

And about countries holding the naira in their vaults, 3 months is enough for them to return the old currency and get the new one or be given some waiver by CBN if they are confirmed not to be fraudulent.

Nothing go still come out.

Only assurances that will never work.

You can see that they are laughing while Nigeria is burning.

Ndi ala!

makaveli902:
Tinubu's Blokos and all other politians who have stashed money at home will have a hell of of a task changing their money at a short notice, this why the decision was taken without the awareness of major stakeholders.
Now Jagaban will have to explain when he gets to the bank how he has so much money that he has to use a bullion van.
Ever since Gumi has been sweating cos now cos all the Ransome money stored in the forest will have to be changed also.

Lol! Don’t mind some idiots with their shortsightedness.

They don’t know there’s chain reaction to the entire thing.

fxexperts:
Laid trap my foot. If i take a billion naira now to the black market today i will walk out with the equivalent in foreign currency. So, you are as clueless as your government. If you think your analogy is right let's wait and see how many arrests will be made. My guess to you is none. Clueless citizens.

So you will carry 10billion naira cash to black market abi?

And the black marketer will not deposit the money abi?

Again, you are just another shortsighted fellow.

Agbero fools will go hungry.

Including some idiotic urchins on Nairaland because I’m sure they are sustained from the proceeds of the activities of the urchins in the streets.

Ndi ala!

Lol

Peter Obi is winning Taraba.

Atiku will come second.

Nothing for Tinubu in Taraba in particular and in the north in general.

If Senator Ndume can be booed in almighty Borno that Tinubu is expecting terrorist Shettima to deliver 1billion votes, I wonder where else that Tinubu’s hope lies.

Pathetic!

You only need to stay in Lagos to understand the pain of these guys.

They are extorted at every bus stop/junction by jobless idiots that are ready to stab them to death if they dare try to resist.

These agberos are so mean and fearless that they don’t mind breaking side mirrors or losing out fuel tank covers or taking out wipers. It’s just so horrific.

My classmate who came to Lagos late last year and got Korope to drive on the route from Ajah to Lakowe.

They were extorting between 3,500 and 3,800 from him daily until he gave up. That’s part of Tinubu’s legacy in Lagos. But BATstards don’t like it when we talk about it.

I’m so happy they are finally standing up to the menace of those urchins.

Tinubu should never happen to Nigeria.

Never!

Nlfpmod

omonnakoda:
You are making assumptions about what Kidnappers do when they receive their money
This will not force them to go to the bank they can buy gold or dollars, more guns and bullets

What is the purpose of this action let us leave kidnapping break it down for me please what is the purpose?

Go and listen to Emefiele’s statement since after all these explanations you are still looking for the purpose.

Wike and his men should do whatever they wanna do make we rest.

If na Tinubu them wan support, make them talk am so that we will know that they have decided to kill their career.

If it’s Peter Obi, let them join the merry, except they are saving the best for the last.

emmy512:
That's the idea, the government wants them to bank it and it's only a "mumu" criminal that'll actually bank their loot right now.

You are aware deposit of a certain amount are usually declared and CBN has the right to check the source of those funds?

Whatever they wish to do with that money apart from burning it will put it back into the system and they can still be traced with it.

Before you even buy stocks the forms you'll fill for KYC,
Will the stocks be bought with cash? Even if it were the money will still enter the system

A lot to explain but typing long stuff the tire me

Lol!

A lot of these people are so myopic both visually and rationally.

It’s such a task trying to make them understand.

omonnakoda:
Do not misquote me

If the stated objective is to stop tkidnapping how will THAT be measured?

Knowing what is banked is very easy
What is not clear is why that is a good or bad thing

We do not have the financial infrastructure and logistics to support cashless economy so it is not clear what the CBN is trying to achieve is it to reduce kidnapping or to encourage cashlessness and WHY that cannot be achieved with current banknotes why is it necessary to change the design to achieve that? The CBN can reduce the supply of notes by not printing more and the old notes would eventually be mopped up as they wear and tear

Why is a redesigned note an essential part of the policy?

You keep talking about kidnapping…

Reducing kidnapping is just one of the reasons given by the CBN. There are other reasons. Unfortunately you are fixated with kidnapping.

But let’s take your darling kidnapping as an example…

Everyone knows that 99% of the time, these kidnappers demand for cash, sometimes running into hundreds of naira.

Now, most of them have this cash stashed somewhere and taking their time to spend it.

A change in the design of naira will now force them to either spend that stashed cash lavishly or before January 31st next year or go to deposit the cash in the bank by which time the bank would notify the authorities of such transaction and such persons would be invited for questioning.

Now, these are the kind of people that would never release their money even if CBN refuses to release new naira into the economy in ten years. They will now be forced to either spend the money or bank it or it becomes useless.

Same thing goes for all corrupt politicians that have hundreds of millions or billions naira stashed in their rooms, they’d either have to take it the bank, spend it lavishly or it becomes useless.

And lastly, are even aware that periodical change of currency design is a global standard practice?

omonnakoda:
Why is retrieving money a desirable thing
So if they retrieve money from peoples hands what will people spend?


Is there no other way to retrieve money
Where else has this worked in the past

Is cash transaction the only possible means of transaction?

omonnakoda:
Practical and realistic meaning

Agree with you
I could say that exactly right back at you
You be practical and realistic

If you have an argument to make make it

The practical and realistic truth is Nigeria is probably the most corrupt country on earth and this is a stupid policy with unclear objectives and no practical way to measure its success

The policy is stupid to you because you dismissed it without taking your time to actually understand what it is about.

I’m a Buhari critic but I support this policy.

About measuring success…

You are saying that because you are not in the financial sector. If there was no way to measure, then how did CBN know that over 3trillion naira is unbanked?

And do you know that there’s a government agency called Nigerian Financial Intelligence Unit (NFIU)? This agency and the CBN keep record of the volume of transaction that happens everyday in Nigeria.

See, calm down and study the policy, maybe you’d understand then.

omonnakoda:
Too many words
Theory and totally irrelevant

The idea is that this will stop kidnapping Is that what we are talking about? Or something else?

It is clear you do not understand the issues money in circulation is about balance sheets not bank notes in circulation so what CBN release is irrelevant

Go and study basic accounting

Money does not have to be banknotes. Once the CBN incur a debt it is there and that is what banknotes are a CBN debt. CBN debt takes many other forms

Maybe I’m the one who should ask you to go study basic accounting.

CBN clearly stated that the motive behind this is specifically to retrieve the banknotes in people’s hands. So, the policy is specifically targeted at cash.

That’s why they employed those phrases like “cashless economy” and all, to justify their action.

So, yes, the policy is targeted specifically at banknotes.

omonnakoda:
Too many words
Theory and totally irrelevant

The idea is that this will stop kidnapping Is that what we are talking about? Or something else?

Be practical and realistic, my friend.

The approach is wholistic, not just the kidnappers alone.

When CBN said 3trillion naira is unbanked, there’s no time they’d expect all that money to be in the hands of kidnappers alone.

You see that your inability to have a wholistic grasp of the advantages of the policy is why you are dismissing it.

omonnakoda:
I dismiss it 100% it will not work because Nigeria is 100% corrupt. Is the CBN governor clean?

It did not work in 1984 and it will not work now.

Crucially is it now in the middle of elections that it will work? How crazy is that?

The only time it worked was during the Biafra war for very obvious reasons There was no movement from Biafra and Awolowo DID NOT inform Gowon until the last minute

Buhari saw that and thought it will always work without understanding the nuances
Nigerians are the most resourceful people when it comes to breaking rules so this is just a bad joke

Oya let me give you an instance…

Let’s assume CBN release about 1trillion naira on December 15th, and every commercial bank in Nigeria gets just about 100billion each with other financial institutions sharing the rest.

Now, out of the 100billion (might even be less) that a commercial bank gets, they will now try to ration it for their branches nationwide. At the end of the day, each branch might just be getting about 100million naira each.

Now, can you tell me how these commercial banks will be able to release let’s say about 10billion to one politician for vote buying?

Maybe you don’t get it, Atiku alone, needs above 10billion naira if he’s going to pay 10k per vote. Same with Tinubu, same with all other candidates.

How are they going to be able to source the cash?

Buccalcavity2:
The only problem I have with the policy is uncertainty it throws into the market. It will excercebate the bad monetary indices already showing, at least in the short run. Other than that, I have not seen any weighty/constructive criticism of the policy.
But it doesn't make sense for Finance minister to say she doesn't know about it. That ministry is represented in MPC and also on the board of CBN. If she insists that she doesn't know, then there's probably more to the policy than meets the eye.

Maybe the development of the policy was deliberately kept secret to avoid some moles tipping off those that the policy is targeted at.

Hope you know the policy is deliberately targeted at some people?

Ventura1:
Everybody will be weary of huge transaction in cash, it may be questioned. You want to buy property worth 70m, you now request to pay in cash. When we have some restrictions on cash transactions.

Exactly my point.

Some people are arguing that those with large amount of cash stashed at home might want to spend it buying real estate.

But how can I have a property I’m selling for 150million and you want to pay in cash? So na me go come go deposit 150million cash for bank make EFCC catch me?