gfelo:
Business Men and traders will pay the prize for this corrupt politician, is very bad when big men thief the poor suffer for it.

Now people are scared to collect old note, new note not available, how do u sell, and how do you buy, not every business men and traders use POS.

This is when innovation to your business will be key. Businesses can collect a dedicated pos machines for their business. They can also accept transfers too pending when the new notes starts circulating as it should.

If you don't collect old notes, you won't loose anything because your goods will still be there.

HarunaWest:
All these measures will fail when you haven't solved the inherent poverty in the nation. People are hungry and you want to fight corruption how is that supposed to work? Where is the buffer? In my village as we speak, people still have starks of cash they can't deposit in banks. They have gone to the bank 3 days straight, no way and they deal on food stuff. The unbanked in Nigeria are more than the ones enjoying financial services. It's a policy that came at a short notice and wrong timing. This is the sort of things that leads to protest in a sane clime. Buh the typical Nigeria notion is 'we go survive'.

I understand, but the real truth is any attempt at extending the deadline will be a deal breaker. CBN has to sanction banks if they cannot ensure distribution of cash. Yes CBN didn't print much because they want to push Nigerians into the online space but then Banks that are not distributing the ones they have must be sanctioned.

Instead of Emefiele to concentrate on how to help tje economy he and buhari are concentrating on how to curb vote buying.


Why didn't buhari try to curb vote buying during the last elections?

Emefiele to me represents the black man's greed at its peak.

juvewalex:
The New notes will still be stocked in large numbers as well in few years from now if government think this is the only way to fight against corruption while courts in Nigeria set free politicians when they face corruption charges.

You stole #9b and court would ask you to pay option fine of #100m .

If we all think these politicians would not have gotten the new notes in large number by now , then we lying to ourselves. People that their banks take cash to them in their comfort homes.

That is if you have access to the cash. If you don't know, from February no cash withdrawals form any government accounts.

Believeintruth:


You miss the point bro. This sudden move is the best thing the CBN has ever done because now it has made money laundering difficult and has boxed politicians and corrupt elements in a corner. If you bring large volumes of cash for swap, the banks are under obligation to report to NFIU and that singular move has put the person on the spot. What it means is that for a corrupt politician you are already giving the opponents material to institute a court case against you because moving with large wads of cash already contravenes the AML act which will be easily linked to vote buying, and if they decide to even use online channels it leaves an audit trail which will be traced to the politician.
This is good abeg.

Now please tell me how many classes as been reported?that should tell you something is going on underground...Not even one politician as been reported to bring large sum,they go through the back doors simple

arejibadz:
only tinubu and his camp are scared

people are making contribution u are there looking for who the thing will affect most, do you think tinubu no get connection to any bank manager..or do u think his money is in naira rather than dollar....
the redesigning of the note is good but not this time around and the limited days is too small at least dey can extend it for another 2wks if inec can extend voters card collection why cant cbn.
we know emeifuna is anti tinubu, buhari and pdp agenda will not pull tinubu down because most people supporting tinubu are doing that because dey have trust in him, he knows how to govern with limited avaliable resources unlike someone who usually take advice from a mad manin nnewi, i cant bet my coming generation in the hands of someone who will be going about seeking advice from a madman or someone who is busy selling our country assets while the wise one as a governor seal the future of his people by signing the free trade zone which houses the largest refinery in nigeria, lekki deep sea etc...
the difference is clear

VillagePipu:


Once the election comes and you see how they are spending the new notes, you will wonder how they managed to circumvent the policy.

That is why I said definitely they have actually set a trap for themselves. Because definitely in the bank's database there is a record of the audit trail of the transaction only that the bank didn't report it. Hope you get where I am coming from.

juvewalex:
The New notes will still be stocked in large numbers as well in few years from now if government think this is the only way to fight against corruption while courts in Nigeria set free politicians when they face corruption charges.

You stole #9b and court would ask you to pay option fine of #100m .

If we all think these politicians would not have gotten the new notes in large number by now , then we lying to ourselves. People that their banks take cash to them in their comfort homes.

Why do you think they are crying?

Money that has already be transfer to them is what u are saying, go and meet tinubu now and he will show you enough of the new note with him

samwash:

You think that is the way it works?
Do you work in a commercial bank ?
Money from nowhere will just hit your bank gbam !! & Money from somewhere will your leave your valut to nowhere just like that.

Go to Abuja and repeat this thing they just said let Abokis running BDC laugh at you well.

Felabrity:
These corrupt politicians can cry from now till tomorrow, Buhari will not move a dime

The banks are our main problems. I went to do a job some days back, and I was paid cash... 230k!!! I thought my bank details will be requested for. The madam just came forom inside, and gave me 2 bundles and some extra notes. I didn't even count it. My question is... Where did she get that amount of new notes? For her to give me that amount, it means she has more for her other needs.

I am beginning to like buhari final days in office the criminal minded politicians should feel the policies the same way Nigerians felt it for eight years a lot of them must sign out with buhari

Believeintruth:


Bro it is not affecting. It is the corrupt elites that are crying because of this.

name anyone big that as complained about it?stop deceiving yourself, politicians were the first set of people to have the new note.You don't need to be told why the money is not in circulation

juvewalex:
The New notes will still be stocked in large numbers as well in few years from now if government think this is the only way to fight against corruption while courts in Nigeria set free politicians when they face corruption charges.

You stole #9b and court would ask you to pay option fine of #100m .

If we all think these politicians would not have gotten the new notes in large number by now , then we lying to ourselves. People that their banks take cash to them in their comfort homes.

I laughed people saying that the aim isn't defeated. 😂

This must be aimed at witchhunting.

4ward4:


I repeat no Single corrupt politician is still holding his old naira note. This people just need to place a call to the MD of the bank they bank with and he will be in their house Live and direct. If an ordinary company director that makes some millions have a bank MD at a speed daily, what more can't a corrupt politician do.
By the way, majority of them don't have Cash in Naira, all in hard currencies. They only get to change it when it is month end to play staffs and settle bills.

The looters were the first to get the newly redesign notes (some since last year before CBN officially released it). Why some places have scarcity of the new notes.

arejibadz:
only tinubu and his camp are scared

people are making contribution u are there looking for who the thing will affect most, do you think tinubu no get connection to any bank manager..or do u think his money is in naira rather than dollar....
the redesigning of the note is good but not this time around and the limited days is too small at least dey can extend it for another 2wks if inec can extend voters card collection why cant cbn.
we know emeifuna is anti tinubu, buhari and pdp agenda will not pull tinubu down because most people supporting tinubu are doing that because dey have trust in him, he knows how to govern with limited avaliable resources unlike someone who usually take advice from a mad man in upper nnewi market, i cant bet my coming generation future in the hands of someone who will be going about seeking advice from a madman or someone who is busy selling our country assets while the wise one as a governor seal the future of his people by signing the lekki free trade zone which houses the largest refinery in nigeria, lekki deep sea etc...
the difference is clear

windvane:
Now please tell me how many classes as been reported?that should tell you something is going on underground...Not even one politician as been reported to bring large sum,they go through the back doors simple

Then you don't know how NFIU works. No one will publicise that they are investigating a political who deposited large wads of cash to exchange for new notes. This is done secretly and then they will involve EFCC and DSS once they are ready to move. The main thing they do in secrecy is to monitor the money trail.

Zorn:
If they had so much there won't be outcry from them as we're seeing today. They have funds that if they release it now would cause inflation.

from who?please stop deceiving yourself.ask those that are paid to attend rallies,they are paid in new notes

tunapawizzy:
Why are these people crying actually. Is it too much to take your money to the bank and deposit in your account....infact Buhari n emefiele try....should ha e given just 1 week. How is it difficult to take ur money to the bank to deposit.

Gosh! What are you saying?!!!!!
It's not about putting your money in the bank. It's about getting it out now. The new notes are in short supply even at the banks. The ATMs are mostly not dispensing and pos operators don't have enough new notes. How's that too hard to understand if you are actually in Nigeria?

babyfaceafrica:


If I want to enter 250 bus, I should use bank transfer? If I wan buy pepper for market ko? Or take bike?.. Look, we need more new money that's my own. It isn't enough outside.
Nigeria runs a cash economy

is 20,50,100 naira not still in circulation?

Believeintruth:


I tell you that Business men are not hit at all from this already some of them have strategized for this. The people crying about this are the politicians, I agree there will be slight inconvenience on the part of the population but the benefits outweigh the inconvenience.

shut up pls shut up.. have u even entered the streets to see how trading has stalled and people looking dejected and confused.. the said new note is no where to be found in the streets..” slight inconvenience” because you’re not affected.. no be una fault sha.. u go tell me which mumu politician go allow him money spoil wen they can strike a deal with bank managers and exchange the currecies.

windvane:
name anyone big that as complained about it?stop deceiving yourself, politicians were the first set of people to have the new note.You don't need to be told why the money is not in circulation

Tinubu complained about it and he stated that it was targeted against his ambition in Abeokuta rally.

I pray the date stands 31st

Hussein035:



Stop typing anyhow. The purpose is to make APC a very catastrophic party then return the power to north through Atiku. Tinubu will still win we are tired of the northern aristocrats who only believe in almajiri system to maintain poverty

God bless you,reason why the fuel scarcity is still out everywhere....They want everyone to see APC in bad light

Believeintruth:


I understand, but the real truth is any attempt at extending the deadline will be a deal breaker. CBN has to sanction banks if they cannot ensure distribution of cash. Yes CBN didn't print much because they want to push Nigerians into the online space but then Banks that are not distributing the ones they have must be sanctioned.

No bank will be sanctioned. Emefiele is Jim ovias boy, all of them are in Bankers committee. They should have phased it out step by step but not outright rejection after 31st. The politicians they are trying to fight keep cash in hard currency especially $. So I don't really get what Buhari and Emefiele concluded before arriving at this policy.

babyfaceafrica:


If I want to enter 250 bus, I should use bank transfer? If I wan buy pepper for market ko? Or take bike?.. Look, we need more new money that's my own. It isn't enough outside.
Nigeria runs a cash economy

I have been paying for those with transfer.
Best way to go!

windvane:
from who?please stop deceiving yourself.ask those that are paid to attend rallies,they are paid in new notes

So why is everyone crying if the new currency is already in use? What else do you need the deadline extended for . You're the one lying to yourself . 31st is the deadline kill yourself.

kingsways:
Countries don't just wake up redesign their currency because it involves a significant cost

Whilst reasons for redesign are numerous; in the case of Nigeria, Corruption is pandemic and a big problem. Corrupt and wicked Nigerians have stocked large amounts of cash outside the official financial system

One of aims of the current redesign exercise in Nigeria is obviously to tackle the issue of corruption by corrupt people who settle their corruption activities in cash

To extend the deadline will give these rogues more time to come up with ways to circumvent the redesign and therefore defeat the aim of the exercise.

The old notes were once new, it was stocked. What stops them from stocking this one too.

Instead our agencies to investigate and catch corrupt people, they are making a blanket policy that will affect the poor mases the most.

I can't afford to lose 10k but losing 1m is nothing to a corrupt wealthy politician

VillagePipu:
Politicians bring 50M old notes, manager takes it and gives them 49M old notes. Manager takes 1M.

Depending on how old the 50m is, the manager can take like 2-5m for himself. Now sef, they give them 2-5m of the new currency per batch. What happened to the money we are changing now will still happen to the new notes. The only good thing here is that politicians will not have enough to use for elections

chocboi78:
shut up pls shut up.. have u even entered the streets to see how trading has stalled and people looking dejected and confused.. the said new note is no where to be found in the streets..” slight inconvenience” because you’re not affected.. no be una fault sha.. u go tell me which mumu politician go allow him money spoil wen they can strike a deal with bank managers and exchange the currecies.

You are the mugu. Even mugu 1000 right now it iss hard to move large wads of cash around even your politicians know this right now. Even if the politicians strike a deal with the politicians. Shebi entries will be passed in the system and CBN has access to this, the same with NFIU. The thing is that there is no way it will not be seen by NFIU that is why I said they have entered a serious trap because it will still be used against them.

Cry from now till tomorrow.
The deadline remains 31st January.
No more vote buying. Tell your candidate to Present himself to the media and sell himself to eligible voters

Obaaderemi2:
Buhari has gone down in infamy already. History will be very unkind to him and the north. He is copying what Modi did in India which nearly destroyed India's economy.