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Nairaland Forum / Nairaland / General / Business / Is The Naira Redesign Policy Defeated? (23165 Views)
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Re: Is The Naira Redesign Policy Defeated? by missuzoma: 3:48pm On Feb 17, 2023 |
tolue42:Key highlights from the Banker's Committee meeting held today on the Naira Redesign 1. The old 200 naira will still be legal till April 10th 2023. 2. The old 200 naira and the new 500 and new 1000 will continue to be in circulation till 10th of April 2023. 3. The old 500 and the 1000 can be deposited into commercial bank just once within the 60days extension. 4. A new App will be developed by CBN to enable customer to make the one off deposit within the extended 60 days. 5. A customer cannot make more than 500k deposit within this period and it cannot be splited. 6. Customer making above 500k will have to visit the CBN. 7. You cannot receive value for the deposit immediately because the money will go to a CBN GL. 8. You can only receive value Upon remittance and confirmation from CBN. 1 Like |
Re: Is The Naira Redesign Policy Defeated? by samsono30: 3:48pm On Feb 17, 2023 |
I hope this scarcity of naira is not to help APC win election in such a way they will be the only party that have the new notes to share for election, don't let them decieve us they are trying to stop vote buying. If everyone can remember some weeks ago when they said the saw two bullion vans entering Tinubu's house. Nigerian's let's give ourselves brain because this moves has been calculated by Government. Why now Buhari remember to change notes after seven years, or are you telling me that after every four years CBN will be printing new notes now in Nigeria before elections? Buhari is just senseless. |
Re: Is The Naira Redesign Policy Defeated? by lrman(m): 3:48pm On Feb 17, 2023 |
Gabby84:What do you know about vote buying ?? Mtchewww is obvious some of you don't even know how vote buying works in Nigerian politics...sit down be there thinking it is only physical cash that is majorly used for vote buying IN NIGERIA... |
Re: Is The Naira Redesign Policy Defeated? by Svoboda(m): 3:48pm On Feb 17, 2023 |
Gadafii: Linear thinking. Only apc govs hid palliatives, like they all sat down to deliberate and decided to hide palliatives? |
Re: Is The Naira Redesign Policy Defeated? by hohafrank(m): 3:49pm On Feb 17, 2023 |
You can't.Single account can't take more than 500,000, even though you use different branches. 1 Like |
Re: Is The Naira Redesign Policy Defeated? by Demogorgon(m): 3:49pm On Feb 17, 2023 |
tolue42:You will not be credited immediately, you'll have to fill a form. It might take up to 4 weeks. The old notes are no longer legal tenders. You may not even get credited. 1 Like |
Re: Is The Naira Redesign Policy Defeated? by Demogorgon(m): 3:49pm On Feb 17, 2023 |
hohafrank:500k per BVN 1 Like |
Re: Is The Naira Redesign Policy Defeated? by VictorGeneral4(m): 3:49pm On Feb 17, 2023 |
salesbloo:na Tinubu provoke buhari to implement this policy 1 Like |
Re: Is The Naira Redesign Policy Defeated? by Godwin616: 3:49pm On Feb 17, 2023 |
Tayorshd2:I said it earlier. It is going to fail because of the poor implementation by the project manager called Emefailure |
Re: Is The Naira Redesign Policy Defeated? by leisuretym: 3:51pm On Feb 17, 2023 |
Gadafii: Why can’t I accept the old notes if you want to buy a generator in my shop, I will accept and then go deposit immediately , it’s still a legal tender meaning the CBN is confused 1 Like |
Re: Is The Naira Redesign Policy Defeated? by greatiyk4u(m): 3:52pm On Feb 17, 2023 |
Apart from the targeted individuals who hoard the old notes, how many Nigerians still have the notes with them? The panic created by the deadline has forced majority of hard working Nigerians with the note to deposit it in the bank It will be easier for cbn to trace the source of the remaining undeposited currency Emefele is start, hence the policy not defeated 1 Like |
Re: Is The Naira Redesign Policy Defeated? by Adetayo1978(m): 3:52pm On Feb 17, 2023 |
We are deceiving ourselves with the help of some powerful people. If you're with me, hit the like button. |
Re: Is The Naira Redesign Policy Defeated? by Oluchiugo: 3:53pm On Feb 17, 2023 |
Demogorgon:As I dey so I get 3k old notes and Yes I go spend am for market. As at yesterday sef market women in Asaba collected old notes so my guy.......no think am |
Re: Is The Naira Redesign Policy Defeated? by tolue42(m): 3:53pm On Feb 17, 2023 |
Demogorgon: Lol..be deceiving yourself...we will keep spending till April 10! |
Re: Is The Naira Redesign Policy Defeated? by obyrich(m): 3:53pm On Feb 17, 2023 |
salesbloo:How much can you withdraw after depositing is why the policy has not failed. 1 Like |
Re: Is The Naira Redesign Policy Defeated? by Gadafii: 3:53pm On Feb 17, 2023 |
leisuretym:that’s the cashless policy we are talking about, you and I know that if I bought goods from you worth 350k and I want to pay you in the old notes right now you won’t accept, rather you would suggest I transfer the money to your account, but you are definitely not going to accept old notes in that sum If you want to keep spending and accepting old notes, no wahala the president have spoken and nothing go happen just like before when he makes anti people policy and nothing happens My question is why is elrufai suddenly interest in the “masses” southern kaduna is bleeding he hasn’t done anything about that, he’s definitely hiding a huge skeleton in his cupboard 2 Likes 1 Share |
Re: Is The Naira Redesign Policy Defeated? by hero2000: 3:54pm On Feb 17, 2023 |
Ijaya123: When God never get your time, e go be like say you be Hulk Hogan. When God get your time, na small breeze go fall you down. 1 Like |
Re: Is The Naira Redesign Policy Defeated? by egbetokuns(m): 3:54pm On Feb 17, 2023 |
[quote author=salesbloo post=120988786]You see why APC Governors are right I can deposit 500K in 5 different bank accounts making 2.5m meaning old notes is still a legal tender .....since the deadline specified is April 10 . Alternatively if you have individual and corporate accounts ....500k in each account On the other hand if the above scenario is not plausible because of BVN, instead of depositing it, since there are no new naira notes, I will just spend it .Why should I return them since there is no new naira notes and no deadline. Let continue to recirculate them, CBN want to scam us again. To get old or new notes you pay as high as 20% Redesign Policy is completely defeated Am I right or wrong?[/quote Bad policy with evil intentions. CBN governor fumble big time. Turning the whole CBN branches into cashier. |
Re: Is The Naira Redesign Policy Defeated? by ShenTeh(m): 3:55pm On Feb 17, 2023 |
baralatie: While you may be right from your perspective of the short window period given by the CBN, I also strongly believe that 4 months is enough for anyone who truly wanted to comply, to be able to offload on the CBN. Remember, the issue we have is insufficient new notes, not where to deposit. Secondly, the FG has always had a cashless policy which a lot of the people didn't comply with. For God sake, why would anyone have about N50 million in cash, (there was a video of one man at CBN yesterday). What was he waiting for? All those people braving bullets to vandalize and loot banks are opportunistic thieves who would find it difficult to prove that they have any money in the banks they are destroying. 1 Like 1 Share |
Re: Is The Naira Redesign Policy Defeated? by illuminutty: 3:56pm On Feb 17, 2023 |
tolue42: Always read the T&C's of any product and service you get to avoid had I known. Below for info: Key highlights from the Banker's Committee meeting held today on the Naira Redesign 1. The old 200 naira will still be legal till April 10th 2023. 2. The old 200 naira and the new 500 and new 1000 will continue to be in circulation till 10th of April 2023. 3. The old 500 and the 1000 can be deposited into commercial bank just once within the 60days extension. 4. A new App will be developed by CBN to enable customer to make the one off deposit within the extended 60 days. 5. A customer cannot make more than 500k deposit within this period and it cannot be splited. 6. Customer making above 500k will have to visit the CBN. 7. You cannot receive value for the deposit immediately because the money will go to a CBN GL. 8. You can only receive value Upon remittance and confirmation from CBN.[i][/i] 1 Like |
Re: Is The Naira Redesign Policy Defeated? by tolue42(m): 3:56pm On Feb 17, 2023 |
missuzoma: Young Man, we will keep spending till April 10!. if I should split 20m amongst 40 people, and I'll get it back through transfer , how will CBN know ? |
Re: Is The Naira Redesign Policy Defeated? by Oluchiugo: 3:56pm On Feb 17, 2023 |
VictorGeneral4:On the contrary the policy was to sell Tinubu as people oriented. Among the main contestants he is the only one that fought the policy. People have been asking how APC can save us from APC.....this is it. This was created to make a case for Tinubu as being people oriented thereby boosting his chances. Unfortunately Atiku n Obi fell for the decoy |
Re: Is The Naira Redesign Policy Defeated? by MuslimMuslim: 3:56pm On Feb 17, 2023 |
leisuretym:You have to fill a form on CBN portal where a code will be generated that you will take to the bank. Then you will wait for weeks for it to be processed. No where near as straightforward as you made it look 1 Like |
Re: Is The Naira Redesign Policy Defeated? by Gadafii: 3:56pm On Feb 17, 2023 |
Svoboda:list the states where palliative were hidden, they are apc controlled states🙄🙄 |
Re: Is The Naira Redesign Policy Defeated? by Trollronaldo: 3:56pm On Feb 17, 2023 |
salesbloo:they will trace it will your BVN 1 Like |
Re: Is The Naira Redesign Policy Defeated? by AtikuOkowa: 3:56pm On Feb 17, 2023 |
Padipadi: You eat even those that act like cows? No,we are not hurting Chief Tinubu,we even give him flag and campaigned for him. But Tinubu keeps saying the target is against him,maybe he is laughing that it would not hurt him? Tinubu is miles ahead of us from Abuja to Lagos,just that we are trillions of miles above him for ever. Do not disown your tribe,it is good to be from the most loyal tribes. 2 Likes |
Re: Is The Naira Redesign Policy Defeated? by WelcomeToBiafra: 3:57pm On Feb 17, 2023 |
PointZerom: Esprit de corp.
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Re: Is The Naira Redesign Policy Defeated? by DanAugust2021: 3:57pm On Feb 17, 2023 |
salesbloo:Who told you the deadline for the deposit of old naira notes is 10th April? Na so una go carry fake news confuse innocent people. Where in PMB's speech was the time frame for the deposit of old naira notes increased? The seven days grace period for deposit of old naira notes elapses today (Note that the 7 days grace is in the CBN act). If you are able to generate the code before it's expiration today, you can go to any commercial bank and deposit your old notes. 1 Like |
Re: Is The Naira Redesign Policy Defeated? by rippa(m): 3:57pm On Feb 17, 2023 |
PointZerom:Very wrong sir |
Re: Is The Naira Redesign Policy Defeated? by tolue42(m): 3:58pm On Feb 17, 2023 |
illuminutty: Abeg wise up.. CBN don put una for handicap...once Tinubu win the election by next week, we'll have no reason to even deposit the money again self...Emefile will need to seek asylum in the UK |
Re: Is The Naira Redesign Policy Defeated? by AtikuOkowa: 3:58pm On Feb 17, 2023 |
Oluchiugo: That is it. So tell your tribesmen to calm down,stop protest,Buhari is doing this for Tinubu win. hhhh |
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