New Naira: We Didn’t Anticipate Challenges, CBN Admits - Business (4)

New Naira: We Didn’t Anticipate Challenges, CBN Admits - Business (4) - Nairaland

Nairaland Forum › Nairaland General › Business › New Naira: We Didn’t Anticipate Challenges, CBN Admits (34830 Views)

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Bfly: 11:11pm On Feb 09, 2023

This's become pyrrhic already

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by 7arrows: 11:11pm On Feb 09, 2023

dre11:
https://punchng.com/new-naira-we-didnt-anticipate-challenges-cbn-admits/?amp

Stupid talks. And who makes the money that banks charge for all the transfers from 500 naira and above huh

? Eyin ole Oshi. Hand go meet all of una. Heartless and clueless people

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by naturefellow(m): 11:13pm On Feb 09, 2023

post=120774698:
Na now una eyes clear.

Shame to all animals causing pains to Nigerians because of politics.

sicko! No be your darling daddy dey cause Nigerians, including yourself pain?

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by oriedebe: 11:14pm On Feb 09, 2023

So sorry, I don't see any sense in all he has said.

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by HellVictorinho7: 11:14pm On Feb 09, 2023

Rubbiish:
Tomorrow is deadline
It is on CBN official website

how many bastards have new notes or a reliable bank account? if any waste of sperm rejects my old notes,i will move to a worthy case

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by 7arrows: 11:15pm On Feb 09, 2023

Racoon:
Tinubu only sees greed, his egocentric and selfish desires. How he can extend his agbero empire to eat the left over carcass of this bleeding nation

You are 100% correct Tinubu is only a greedy man. Otherwise he would have supported someone else like Osinbajo or Fashola to run. Tinubu is totally unfit, those supporting him are doing so for their selfish Interests. Wicked greedy unreasonable men. God go deal with all of una.

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by MartinsD12(m): 11:19pm On Feb 09, 2023

dre11:
https://punchng.com/new-naira-we-didnt-anticipate-challenges-cbn-admits/?amp

This explains why CBN Governor should be sacked, how can you say you didn't anticipate challenges when you are doing nothing to address the challenges rather than hoping on stopping old naira notes , it's a shame, what a monument failure CBN is

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Buksaylor: 11:21pm On Feb 09, 2023

Aufbauh:
Now I believed that Buhari was tricked by the disgruntled cabal in the villa through Emiefele.

The lesson learned from the Emiefele's appointment is that never entrust a sensitive responsibility to someone you barely know regardless of his resume.

Do you expect them to tell you that they never expected opposition from Tinubu who had monies stocked for this inglorious assignment.

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Minjim: 11:22pm On Feb 09, 2023

Brendaniel:
The people who created artificial poverty are fighting back because they want to buy votes from people they caused poverty for.

But their plans will not work

You fools should stop this narrative already. It shows how shallow your brains are. You're still talking about vote buying at this stage.

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by gadgethead: 11:30pm On Feb 09, 2023

Racoon:
Are you not a critical policy maker in the govt? Why wouldn't you expect challenges in the implementation of a serious national undertaking like currency swap or change?

Because even if these challenges were poking him on his nose, he still wouldn't see it

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Bigseven(m): 11:42pm On Feb 09, 2023

Incompetent economic team vs incompetent CBN board equals to excuses which are parameters for failure. We can’t wait for new government to exit you guys

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by athorello(m): 11:44pm On Feb 09, 2023

Most of the challenges with the new naira notes is the result of our general behavior as Nigerians.

Greed and mumurity (in Wike's voice).

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Brendaniel: 11:45pm On Feb 09, 2023

Minjim:
You fools should stop this narrative already. It shows how shallow your brains are. You're still talking about vote buying at this stage.

You call others fools and insult them for speaking the truth...

Just because you want to defend your party....

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by starstaz(m): 12:08am On Feb 10, 2023*

Racoon:
Are you not a critical policy maker in the govt? Why wouldn't you expect challenges in the implementation of a serious national undertaking like currency swap or change?

Taking 3 key National assignments in same week , is it not madness. But we all know is for political Vendetta.

•CBN Nonsense Naira
•INEC National elections in February
•Population Census just after National Elections

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by sanerugwei: 12:23am On Feb 10, 2023

Indeed grammar no be knowledge... huh

Most people can read but comprehension is very far from them...
Others will not even bother to read but form their myopic and shallow opinions based on the title and of course bias. shocked

O mase o.... Indeed, the devil is in the details... grin

Banks that are generally known for compliance and adherence to strict policy implementation became the "Judases and Saboteurs" of the CBN policy
who could have fathom such gross and crass avarice and selfish aggrandizement.
Everything just went to the dogs...

Now that the deadline is over as per CBN website, what next?

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by richie240: 12:39am On Feb 10, 2023

seunmsg:
Exactly why Emefiele and his management team should be fired. The level of incompetency they’ve displayed in implementing the policy is unbelievable. Admitting publicly that they didn’t envisage the challenges is the height of nonsense d irresponsibility.

This has got absolutely noffin to do with 'incompetency' brah, it all about economic and political sabotage. When u mop up 3 trillion 'old' naira notes and replace it with 500 billion 'new' notes - thats even if they printed up to dt amount in d 1st place sef- what ~~were they~~ was he expecting? How will d notes shortfall be balanced? Even for UK sef, it took them 2 solid years to effect d change in their currency, how much more Nigeria.

Emefiele with his decades experience and armed with the templates of how it is done in other climes can't feign ignorance of d aftereffects of this thing he has done.

Let's look at the ~~bigger~~ biggest picture: who stands to gain and who stands to lose most in this impasse? If this man were to be a true APC member at heart and in an apc cabinet (and not an enemy within of which he is), will he put in place such foolish and counterproductive policy when d election is around s corner?

Military and political office holders get publicly executed in China for far less crime than what this imbecilcc saboteur did.
He's lucky Nigeria is not china.

May we not make our enemy our policy maker!
cool

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by chymeze: 12:45am On Feb 10, 2023

Brendaniel:
The people who created artificial poverty are fighting back because they want to buy votes from people they caused poverty for.

But their plans will not work

It beats my imagination when I hear people say this CBN policy will stop vote buying by politicians. You really think even with the CBN policy, someone like Tinubu cannot put a call across to some bank managers who are his boys to immediately produce millions of new naira notes? Or you think some state governors loyal to Tinubu and who invest majority of their state funds in such banks cannot call the bank managers to bring millions of new naira notes to them, and such managers would easily comply, for fear of losing the state government investment in their banks? You see, this situation only worsens vote buying rather than prevent it. Imagine a poor man who previously could access #70k now no longer able to access even #5k while the politicians by virtue of their influence over bank managers are able to access millions of naira. On election day, you think that poor man (who's now suffering and not able to access new notes) wouldn't sell his votes to these same politicians in exchange for even lesser amount of new naira notes? Or you probably haven't even heard the trending story about how truck loads of new naira notes were ferried off CBN at night to the house of a prominent PDP politician, the whole process being facilitated in-house by a top CBN official? I just laugh when I hear people say this CBN policy is good and will stop vote buying by politicians. It shows that such gullible persons don't even understand the dynamics of the game.
In sane climates, old notes are gradually phased out over a period of several months to years while the CBN wants to do magic by doing it over one month. It's only the masses that would suffer it.

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by adioolayi(m): 12:55am On Feb 10, 2023

This same Country Nigeria, that defies most paper based economic principles...you are not prepared for the most insane possibilities as risk assessment of policy of this magnitude huh

Na today una know say Nigeria's economic projections no dey fit known Economic principles
as markets most times , determines what happens huh

It's well with Emefiele and CBN

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by unmask: 12:55am On Feb 10, 2023

funshint:
Hear nonsense....a good leader will see a problem even before they occur

I don't think that is factual. Everybody gets blindsided at a point in time. It's like saying a good leader should expect that covid will happen

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Brendaniel: 12:55am On Feb 10, 2023

chymeze:
It beats my imagination when I hear people say this CBN policy will stop vote buying by politicians. You really think even with the CBN policy, someone like Tinubu cannot put a call across to some bank managers who are his boys to immediately produce millions of new naira notes? Or you think some state governors loyal to Tinubu and who invest majority of their state funds in such banks cannot call the bank managers to bring millions of new naira notes to them, and such managers would easily comply, for fear of losing the state government investment in their banks? You see, this situation only worsens vote buying rather than prevent it. Imagine a poor man who previously could access #70k now no longer able to access even #5k while the politicians by virtue of their influence over bank managers are able to access millions of naira. On election day, you think that poor man (who's now suffering and not able to access new notes) wouldn't sell his votes to these same politicians in exchange for even lesser amount of new naira notes? Or you probably haven't even heard the trending story about how truck loads of new naira notes were ferried off CBN at night to the house of a prominent PDP politician, the whole process being facilitated in-house by a top CBN official? I just laugh when I hear people say this CBN policy is good and will stop vote buying by politicians. It shows that such gullible persons don't even understand the dynamics of the game.
In sane climates, old notes are gradually phased out over a period of several months to years while the CBN wants to do magic by doing it over one month. It's only the masses that would suffer it.

If the policy did not affect them, I tell you, they would not be running up and down the way they are doing, do you think they are running up and down because they like you.

Think about this:

Before end SARS, police were killing anyhow, people spoke out, the citizens were crying out for the govt to do something, did you see even a single politician stand and for the people or go to court to file a case against the police on police brutality, do you know why they did not do it?

Because it did not affect them one bit, this policy is hitting them and the only reason why they are running up and down to beat time is because of election, if it did not affect them they will do anything.

which is worse for Nigerian citizens

1. Police killing citizens

2. Currency swap policy

Is killing not worse than the currency swap, why is the currency swap on the citizens important to them and the police killings are not...

I am in full support of it though it will not be easy...

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by doneback04: 1:26am On Feb 10, 2023

Una think say una fit frustrate me with my money, na to dey burn bank now and bank manager inside I one start now grin

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by bigtt76(f): 1:33am On Feb 10, 2023

How can you not anticipate challenges when we all know Nigerians are last minute adherents to instructions and directives . How long did it take Nigerians to register for their BVN or NIN or re-register their mobile lines? Dey play cheesy

dre11:
https://punchng.com/new-naira-we-didnt-anticipate-challenges-cbn-admits/?amp

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by drololaaof: 1:47am On Feb 10, 2023

Shio clueless people ,how can you say you did not anticipate problem?
The first day that you start the exchange you should know that there is problem already , when people go to the banks and ATM there are no new notes dispensed to the public uptill January ending, you sat down in your office until there is chaos ,rioting, destroying bank facilities
Exemplary Manager inefficient financial institutions, et al
Some banks are blaming you CBN that the new notes you supplied to them is not enough whereas we saw it in social parties with money changers

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Jamesbiodun(m): 1:54am On Feb 10, 2023

Just admit that you are a failure angry

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Onyiiobi7735(m): 2:05am On Feb 10, 2023

APC= Another Problem Coming.This malignant cancer of a party must be eviscerated, cauterized and cut off by the forthcoming elections.

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Nobody: 2:25am On Feb 10, 2023

They didn't anticipate challenge in giving short period for money exchange? But after the big challenges why still insist on the short period for swapping? I bet knowing how big Nigeria is, maybe some villages are just getting to know that money has changed. From people like that and many others I hope you anticipate curses now ?

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Nobody: 2:32am On Feb 10, 2023

Then stop acting clueless and give a reasonable time for naira exchange..it is not so hard to extend the deadline 3 months from 2day . Another reason not to vote for APC

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by Mickykarim: 2:43am On Feb 10, 2023

dre11:
https://punchng.com/new-naira-we-didnt-anticipate-challenges-cbn-admits/?amp

IMAGINE THIS INCOMPETENT LOG HEAD.

After inflicting pains and sufferings on Nigerians with his thoughtless plans with lack of tactics.

HOW COULD THIS COMPLICIT CONSPIRATOR COME OUT TO CLAIM HE DID NOT KNOW Nigeria AND Nigerians ENOUGH.

Therefore, what is he still doing at the CBN, why is he still in charge at the helms of affairs as Governor of the CBN?

Emefiele JUST CONFESSED AND ADMITTED HIS FAILURE AND SHOULD HAVE BEEN TAKEN AWAY INTO THE GULAG TO ACCOUNT FOR HIS RECKLESS DUNCE ACT.

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by pfadom: 2:46am On Feb 10, 2023

You are an illiterate.

The policy is CBN's and has nothing to do with the APC. The policy is more criticized by the APC than other political parties and their candidates.

Get for yourself some dosages of sense.

Thinkam:
Okay, well APC trade mark, trial by error.

That's what they done so far, they used as experiment

Kick out APC

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by obi58: 2:52am On Feb 10, 2023

Aufbauh:
Now I believed that Buhari was tricked by the disgruntled cabal in the villa through Emiefele.

The lesson learned from the Emiefele's appointment is that never entrust a sensitive responsibility to someone you barely know regardless of his resume.

More meaningless BAT propaganda.

So Buhari does not know someone who he has worked with for the last 8 years?

So Buhari does not have the sense to examine a policy proposal submitted to him by the CBN and reject same if he viewed it as anti-people? He just signed it without reading it?

You guys should give Nigerians a break!

We are not fooled and we will use all the suffering we have faced in the last 8 years to vote out APC!!!!!

Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by OROSUNBOLB(m): 3:00am On Feb 10, 2023

Nigeria keeps putting all sorts of square pegs in round holes ! Haba,CBN or whatever nonsense you're called,you plan to withdraw 3 trillion Naira cash ( N3 Trillion) from circulation and replace it with N.1Trillion cash ( N500 Billion),yet you did not anticipate challenges in a scenario like that ? That is a scarcity right there and you guys know it ! The truth is that the commercial banks will never get enough cash to go round in the system; that is the essence of cashless policy ! Those who are attacking the commercial banks are not well informed. Commercial banks are not getting,and won't get anyway,adequate cash supply from the CBN !

Yeye dey smell,cashless policy with no infrastructure to drive it;una never see anything !

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Re: New Naira: We Didn’t Anticipate Challenges, CBN Admits by iukpe: 3:10am On Feb 10, 2023

Who is competent in this government?

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