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Nairaland Forum / Nairaland / General / Politics / CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work (15406 Views)
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CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Seun(m): 8:49am On Jan 26, 2023 |
A political scientist named Jibrin Ibrahim has exposed the naira redesign policy for what it is - a complete farce. According to him, everyone in the CBN, banks, and federal govt knows that it won't work because the mint lacks the capacity to print sufficient notes. It is an opportunity for CBN insiders to make a lot of money while appearing to fight corruption. The financial industry is playing along to avoid CBN sanctions. Currently, we are supposed to be in the process of changing our old naira to new naira notes, which involves another massive logistics challenge. Just six weeks were allocated for the change from 15 December to 31st January. To convince us that it is for real, President Buhari was displayed on television launching the new notes. When 15th December came and banks did not have the new naira notes to distribute, except for a few samples, the take-off date was pushed to 9th February. In conformity with the six-weeks allegedly needed for the swap, the end date should have been adjusted, but it was not; hence, what needed six weeks will now be done in three weeks.https://www.premiumtimesng.com/opinion/575500-policy-making-as-make-belief-by-jibrin-ibrahim.html 58 Likes 6 Shares
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Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by God1000(m): 8:50am On Jan 26, 2023 |
The new naira notes are very scarce, especially the five and two hundred naira notes. I know this may be a way preventing politicians from vote buying but it will hurt nigerians as well People are already throwing the old naira notes away 26 Likes 8 Shares
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Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by OyeofIkoTuN(m): 8:53am On Jan 26, 2023 |
shatap biko... Dem dey try curb election fraud, you dey talk praprapra... Very anyhow character 69 Likes 7 Shares
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Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by dustmalik: 8:54am On Jan 26, 2023 |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by OyeofIkoTuN(m): 8:57am On Jan 26, 2023 |
God1000: Yes it needs to be scarce..the voters are tired of 200naira and 500naira..Those werey too stingy. Now they get to fling 1000naira in the air.... 25 Likes 2 Shares |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by owobokiri(m): 8:57am On Jan 26, 2023 |
Could it be that Emefieli who has been printing money for Buhari like a printing machine is worried that there's way too much money in circulation and might be using this policy to reign in on that? 28 Likes 5 Shares |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by YorubaNiBaba(m): 8:57am On Jan 26, 2023 |
On Tinubu's mandate i stand gidigba 38 Likes 6 Shares |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Debangis20(m): 8:59am On Jan 26, 2023 |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by wordbank(m): 8:59am On Jan 26, 2023 |
Political scientist is not a financial expert He is just talking trash. 10 Likes 1 Share |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Bmaster(m): 9:00am On Jan 26, 2023 |
I pray so π Make Dem no go put my POS business for darkness You claimed to be fighting for the masses but the masses are not feeling the positive impact of you fighting for them. No be juju be dat 21 Likes 3 Shares |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by DaddyFreeze2020(m): 9:01am On Jan 26, 2023 |
Keep the old notes in your house till after 31st 35 Likes 2 Shares |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by VeryWickedGoat: 9:01am On Jan 26, 2023 |
Seun your Tilumbu don tinye aka na barbu wire. π 11 Likes
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Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Workch: 9:02am On Jan 26, 2023 |
Please, I don't understand all these. All I just know it that there's no way it's not going to affect vote buying 5 Likes |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by sweetonugbu: 9:02am On Jan 26, 2023 |
His opinion. 1 Like |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by yesloaded: 9:03am On Jan 26, 2023 |
Let's wait & see how it goes |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Seun(m): 9:04am On Jan 26, 2023 |
owobokiri:He is still printing money for Buhari to spend. If he was worried about inflation he ought to have stopped. The money he prints for Buhari is electronic money, not physical money. Therefore withdrawing notes has nothing to do with inflation. It is only going to crush the poor. 28 Likes 1 Share |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Workch: 9:06am On Jan 26, 2023 |
owobokiri:printing money is not printing hard currency in the real sense. Printing money is different 5 Likes |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by SmartPolician: 9:08am On Jan 26, 2023 |
How did an empty man like Godwin Emefiele rise to become the GMD of almighty Zenith Bank? I guess it was through office politics that sacrificed competence on the altar of political sagacity In all fairness though, this naira redesign policy remains the best thing he has done since he took over that office. The only challenge is poor implementation. 21 Likes |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by owobokiri(m): 9:10am On Jan 26, 2023 |
Seun: Well, Buhari might not be the only one he prints money for. My hunch is that they have ran an extremely corrupt Central Bank these years. Again, Buharis brother in law is The chairman of the Security, Minting and Printing company. I wouldn't know of any good reasons why the president would want his close relative in this position. Could be that lots of underhand practices are going on 21 Likes 2 Shares |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Shalommy(f): 9:11am On Jan 26, 2023 |
Chaii.. Wetin concern bicycle with overload? 2 Likes |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by superCleanworks(m): 9:12am On Jan 26, 2023 |
it has already begun. but they started on the worst foot. the crisis will soon become serious when markets start to breakdown as the countdown to the withdrawal comes closer 7 Likes |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by gozmok1(m): 9:14am On Jan 26, 2023 |
cabal at work |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by SoftP(m): 9:14am On Jan 26, 2023 |
Not minding the hardship this might cause, if it will put corrupt politicians on check & reduce vote buying, then most of us are willing to bear the trauma & consequences. The joy of this whole drama is that Tinibu & his likes are already wailing, thatβs a clear indication that corruption is gradually being suppressed. OBI-DATTI FOR PRESIDENT 2023 14 Likes 1 Share
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Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by GuyWise101(m): 9:15am On Jan 26, 2023 |
ππ |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by GuyWise101(m): 9:15am On Jan 26, 2023 |
B |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by oyin44: 9:16am On Jan 26, 2023 |
If what he says is true it means they are doing it to expoit and cheat us.. What one thought was to curb vote buying is now used to feather their own nest.. One thing l know for sure anything they do always favors the rich than poor.. At the end of day..the wishes and feelings of the electorate might not be taken into consideration. .. 7 Likes |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by IMASTEX: 9:17am On Jan 26, 2023 |
It might if they were really factual about it |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Workch: 9:17am On Jan 26, 2023 |
God1000:bear the brunt for just 1 month and get the right leader for another 4years. Don't be myopic. You want to enjoy vaguely for 1 month and suffer well for another 4years. I don't know why Africans don't like to pay for good things to happen to them, they want everything on a platter of gold. This is the reason why we refuse to improve anything, we can't pay the price for greatness. 9 Likes 1 Share |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by FreeStuffsNG: 9:17am On Jan 26, 2023 |
Yinmu. You are away from reality. The security structures behind the old notes have been phased out and will fully take effect by 31 January. Any further extension may only be to swap them with new notes and not for use in transaction any more. It is worthless for use after 31st so anyone banking on extension is being ignorant so do not mislead the less discerning members of the public. check my signature for free stuffs! 9 Likes 2 Shares |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by EKONGKING: 9:18am On Jan 26, 2023 |
Ok |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Babsolala: 9:19am On Jan 26, 2023 |
Hmm |
Re: CBN's "Naira Redesign" Policy Is A Charade. They Know It Won't Work by Workch: 9:19am On Jan 26, 2023 |
oyin44:nope, they are doing it to conduct a credible election 5 Likes 1 Share |
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