If It's Truly Cbn, It Won't Be Dumped In A Place Like This

Supremos:
Now that same Emefiele has ordered Banks to start using the old naira notes, what happens to this destroyed notes that runs into billions?


Who benefited most in all this back and forth policy of Buhari?

You didn't understand the Supreme Court ruling. Allowing Nigerians to use the old naira notes is just a way of buying time so the CBN can print enough of new naira notes.

That's why the court pegged its expiration date on 31 December. The materials for printing the new notes are not readily available now.

yaki84:

Share which money?

How una dey reason sef....

A lot of the people who comment here do not reason logically!

This is too bad.

Supremos:
Exactly. I think Nigerians should demand for probe

Probe from who ? By who?😂😂😂
Y’all think this people rate you that much?

Supremos:
I am of the opinion that Buhari, Malami and Emefiele will benefit more in this policy summersault, reason being that;

The trio may tell Nigerians that they have burnt/destroyed say 3trillion Worth of the old naira notes, while to they didn't do so, they will share the money.

Nigeria is just a joke 🤣 of a country

Buhari n co cash out big with the evidence "destroyed"

Ogonimilitant:
Buhari is wicked. Why destroying this instead of giving them to the poor masses if you don't need them.

Seriously? Apparently you don’t understand what money is!!! Presently the inflation rate is 22% despite the low liquidity. Now imagine everyone having millions 😂😂
Y’all would be using tipper load of currency to pay your rent!

This is wickedness

Ogonimilitant:
Buhari is wicked. Why destroying this instead of giving them to the poor masses if you don't need them.

You obviously know nothing about monetary policies. Where in the world is cash meant to be destroyed, handed over to poor people? Have you considered how the inflation caused by that will bite you in the ass?

Supremos:
Now that same Emefiele has ordered Banks to start using the old naira notes, what happens to this destroyed notes that runs into billions?


Who benefited most in all this back and forth policy of Buhari?

The Bankers

It has always been a culture of CBN to destroy old naira notes that have lost shape and torn.

This can not be from cbn
Probably politicians. Cbn would burn it up

samwillyco1:
This wickedness

It's not wickedness. That money is no longer useful. The Supreme Court only wants the CBN to print enough of new notes between now and 31st December

magoo10:
Those who have theirs stored should assist us with the old notes please

Assist Ko, Assistance Niiii🤣

slimfit1:
That is the job of the central bank I don't know why people are crying.

I tire for Nigerians . This is a normal practice

Supremos:
I am of the opinion that Buhari, Malami and Emefiele will benefit more in this policy summersault, reason being that;

The trio may tell Nigerians that they have burnt/destroyed say 3trillion Worth of the old naira notes, while to they didn't do so, they will share the money.

Nigeria is just a joke 🤣 of a country

Hmm looking this from another angle, it certainly might be true. Anything goes in Nigeria.

sparkleboy:

Seriously? Apparently you don’t understand what money is!!! Presently the inflation rate is 22% despite the low liquidity. Now imagine everyone having millions 😂😂
Y’all would be using tipper load of currency to pay your rent!

Don't mind them. They want what happened to Zimbabwean dollars in 2008 to happen to Naira.

helinues:


Did you watch the video abi you no get data to watch it?

Oga after shredding notes, CBN doesn't throw it into the dustbin, they are usually burnt to ashes...

And this is not even something to deliberate on, but since it's against CBN and Emefiele, Pro-APC supporters would masturbate over the news...

Supremos:
He should be placed on watchlist, should be closely monitored.

Not just Emefiele, Buhari and malami too.

Emefiele didn't act independently

What do you think the next administration will do to Buhari ?

He's untouchable bro

slimfit1:
That is the job of the central bank I don't know why people are crying.

To put shred notes in bags and public space

Ogonimilitant:
Buhari is wicked. Why destroying this instead of giving them to the poor masses if you don't need them.

What a comment but we have to ask you where they I'll spend the money

Anunakeeh:


Assist Ko, Assistance Niiii🤣

please na

helinues:


If the same old notes are still legal tender, why should an individual shredded that amount of money?

Maybe they have gotten same quantity of new notes

Supremos:

https://www.youtube.com/watch?v=EE255YP2GXs



Is someone not supposed to be held accountable for this madness

Nigerians should stop being sentimental. We know the times are hard and things are very rough but we should all pull through all of the challenge. Naira notes have been changed, bank managers connived with politicians to mop up the meager amount CBN released for the use of the economy. The Job of CBN is to oversee the entire monetary policy.

Only central bank is authorized to destroy money and replace the equivalent of what is destroyed. most of the shredded cash have been destroyed before the court waded into the discussion.

The Governor of the central bank was appointed by Executive and he has no autonomy and is answerable to the President. That the latter has said and done nothing about what is going on in the CBN speaks. Emefiele cannot be dancing without a drummer, he is not a madman but a man acting on instructions from above.

Buhari had changed currency in the 80's while he was the Head of State. So it is not a mere coincidence that we are having a repeat of the policy in a regime headed by him. The intended effect was to deal decisively with those who have stashed cash in warehouses and septic tanks which are clearly proceeds of monumental corruption.

The policy makers failed from not doing a proper policy impact assessment on the people before the policy was unleashed on the populace in full force.

However, the policy have failed to achieve the intended purpose and the looters have won with the adjustment of the validity of the use of the old notes by the supreme Court and the coming to an end of the tenure of the President who formulated and is implementing the policy by May 29, 2023.

sparkleboy:

Seriously? Apparently you don’t understand what money is!!! Presently the inflation rate is 22% despite the low liquidity. Now imagine everyone having millions 😂😂
Y’all would be using tipper load of currency to pay your rent!

But you said there's low liquidity

So where will people get the tipper load of currency

Done forget with high inflation, income hasn't increased

Well am not a economic person, maybe you have better explanation

magoo10:
please na

Honorable to be Sincere.

Even me sef I'm looking for Cash.

The POS place i withdrew 10k at 4k charges fee earlier this month doesn't have cash anymore.

It's terrible out here.

Having lived in Lagos Island in the 80s/90s, ebute elefun to be precise.... I'm not shocked. This was how we used to see burnt shredded old naira notes flying around occasionally.

slimfit1:
That is the job of the central bank I don't know why people are crying.

Na only illiterate and emotionally handicapped people wey Dey cry and complain like mumu, they don’t know anything else other than to use their emotions to jump to unnecessary conclusions

helinues:


Why do you like to argue blindly slap44?

His unguided hatred for Tinubu is responsible. Even if the folks yhat dump those bags wore CBN uniform, most if them will still scream Tinubu.

slimfit1:
That is the job of the central bank I don't know why people are crying.

It is a work done wrongly this time around as we don't have good mobile and online banking platforms and the new notes will now be noticeably scarce as CBN has refused to print New notes.

Anunakeeh:


Honorable to be Sincere.

Even me sef I'm looking for Cash.

The POS place i withdrew 10k at 4k charges fee earlier this month doesn't have cash anymore.

It's terrible out here.

Chai