₦airaland Forum

sharone21:
This is like his last straw of unfortunate policies and misplaced priorities: blocking our ATM Master / Visa cards from withdrawing money abroad, blocking Naira cards from online payments, e-naira( which Nigerians have invariably, been using for long).... Now, redesigning the Naira.

His mates abroad even South Africa( that we were previously competing with for biggest African market/ working economy) are looking for how to stabilize their currencies, and he is doing this?.... Just like a slap on those who elected APC into power....And for those saying it is to mitigate against PDP doing vote buying with laundered money, it is for PDP to just do the vote buying with few dollars per person.

CBN governor just saw CBN as a money making machine for himself and 'bosses' using sweet tongue to sell dual exchange rates system to Nigerians, inorder for easy profiting to be steadily coming in....which they intend too to use for vote buying come February.

Anyway, God's will be done concerning who will rule Nigeria come 2023.

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Dual exchange rates promote arbitrage which is detrimental to the economy. But the bigger picture is that Nigeria doesn't have what it takes to defend the Naira. In October alone, a bigger economy like Japan tried twice and failed significantly to defend their yen against US dollars. Switzerland had tried many times and failed. What you are asking Emefiele to do is to go into a gun fight with a catapult. God forbid oil prices take a nosedive. Then you will realize how messy the Nigeria situation is. There is no foundation to support the fiscal and monetary policies that Nigeria operate.

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thebosstrevor1:
Always complaining

I dislike men that nag always

but you are the chief of nagging, so you dislike yourself..i no say na nagging go follow this post

It is a bid to checkmate currency counterfeits. People are circulating them and wrecking businesses and livelihood.

Moh247:
Dude if it's irritating why qoute me then?!

Well if you must know party agents, grassroot mobilsers and party stalwarts share Ghana must go in naira

Only big wigs use dollars

And what does turning in old notes have to do with dollars from Dubai?

RenaissanceGuy:
And what does turning in old notes have to do with dollars from Dubai?

Dollars from Dubai would be laundered in to Nigeria

If PDP wants to bribe voters they need Naira

So available options to get Naira

1: Sell to BDC (CBN made a policy for all customers to declare the source of their forex)

2: Sell to CBN or Banks and get flagged

3: if they managed to sell to Black market BDC, and get old Naira note ( they need new Naira note on or before January 15 - 31 2023 which means they have to take the Naira to banks and get flagged

4: last option start giving voters dollar note, giving Rally crowd dollar, giving party agent dollars ( note they mostly use $20, $50 and $100 to move stolen cash)

Buhari changed naira note look in 1984, he is doing it again now, the man always like to robb everyone

Moh247:
Dollars from Dubai would be laundered in to Nigeria

If PDP wants to bribe voters they need Naira

So available options to get Naira

1: Sell to BDC (CBN made a policy for all customers to declare the source of their forex)

2: Sell to CBN or Banks and get flagged

3: if they managed to sell to Black market BDC, and get old Naira note ( they need new Naira note on or before January 15 - 31 2023 which means they have to take the Naira to banks and get flagged

4: last option start giving voters dollar note, giving Rally crowd dollar, giving party agent dollars ( note they mostly use $20, $50 and $100 to move stolen cash)

And why does the dollar have to come from Dubai? If you're stealthily trying to throw shades at Atiku what about the other candidates? Do they also have to go to Dubai to get dollar?

WE MUST FIRST KNOW HIS REASONS FOR DOING SO!

Moh247:
You have till January 15 to return old bills to the bank or forfeit it

you funny dai

Maybe you've not experienced change of notes. Oga! Old notes will still be in use, just as they enter bank they won't come out.

general111:
Calm down, you dont sit in your house and demand that people should be sacked.
You should be asking the cbn chief to explain to nigerians the benefit of what he is trying to do.

This is a good initiative. Read my post here
https://www.nairaland.com/7403831/why-redesigned-new-naira-notes

Are you sure Sowere hasn’t store all that money giving to him 2019 under his bed & was planning to use it next year. Buhari caught him pants down.

victorazy:
you funny dai

Maybe you've not experienced change of notes. Oga! Old notes will still be in use, just as they enter bank they won't come out.

How old are you?

Atleast read the CBN statement on the deadline it's online and don't argue blindly

All currency changes have deadline, the one under Awolowo Gowon made many Biafrans lose stolen Naira as the deadline was short

The deadline for currency changes during Buhari 1984 made many return stolen fund to meet the deadline, the famous emir Atiku cought as comptroller at MMA is a classic example


I know you are still young but Atleast read

They want to Redesign our useless and Hopeless Currency.

general111:
Calm down, you dont sit in your house and demand that people should be sacked.
You should be asking the cbn chief to explain to nigerians the benefit of what he is trying to do.

Which kain yeye talk be this?

We deserve our leaders true true.
Mumu leaders, mumu followers.

Just imagine this CBN gov was an Hausa-Fulani man, those defending him will be raining curses and abuses on him, calling him unprintable names. Whereas this man regime is the worst in history.

Redesigning the currency is actually a smart move to curb inflation especially ahead of the election.

A lot of money will be flying around in the next three months which will further reduce the value of the currency and increase inflation.

Now any politician that have billions saved up in tanks and graves will be forced to bank those funds or leave it to be rendered useless.