₦airaland Forum

Most denominations of the NAIRA currently in circulation have a large percentage of torn or dirty elements.

It is a growing public concern over the wide spread circulation of the mutilated dirty NAIRA notes in the country.

Which begs the question

- Who is to blame?
The bus conductor / driver

Market women

Okada rider

CBN

Traders and customers

Or due to high velocity circulation of the NAIRA notes especially #100 notes.

What our dirty mutilated NAIRA notes say about us?

THE BANKS

Police 30%
Church 5%
Okada 30%
Children 5%
Market Men and Women 20%
Nigerians 10%




Leave bank out of it




If them de collect offering for mosque then they should share the percentage with church

Nigeria is fantastically corrupt. The bankers ,especially the leadership of CBN is responsible. Actually, when there is mutilated currency, it supposed to be reprinted and the bad one, destroyed. But what we have is they burn papers instead of bad notes, and recirculate the mutilated currencies. The money they supposed to use to reprint, is diverted and embezzled. Many top officials of CBN , Ibadan are still undergoing trials for same purpose.
Can this country be redeemed again? I doubt it.

priceaction:
Nigeria is fantastically corrupt. The bankers ,especially the leadership of CBN is responsible. Actually, when there is mutilated currency, it supposed to be reprinted and the bad one, destroyed. But what we have is they burn papers instead of bad notes, and recirculate the mutilated currencies. The money they supposed to use to reprint, is diverted and embezzled. Many top officials of CBN , Ibadan are still undergoing trials for same purpose.
Can this country be redeemed again? I doubt it.

Hmmmm this one is strong 'eleyi gidigan'

Thanks for your thought

@priceaction is right. The complete blame is on the CBN

Normally they should reprint based on the denomination cos some are used more frequently than others

You rarely see 1000 and 500 naira notes as bad as the other denominations.

100 naira bills in particular are the worst. I swear most of the country's health problems come from handling these money alone.

allgoodlight:
Hmmmm this one is strong 'eleyi gidigan'

Thanks for your thought

It has been long battle with effc, but you know our country, when money exchanged hands, then story changes...
This is when it started.....

At least six top officials of the Central Bank of Nigeria and 16 other workers of commercial banks in the country have been arrested by the Economic and Financial Crimes Commission (CBN) for a mega scam involving 8 billion.

The suspects were picked up by operatives of the anti-graft agency for stealing and putting into circulation defaced and mutilated Nigerian currency notes to the tune of N8 billion meant for destruction.

The 16 suspects who colluded with the CBN officials to commit the fraud are officials drawn from Zenith Bank, FCMB, Wema Bank, Access Bank, First Bank, Skye Bank, Ecobank and Sterling Bank.

The officials helped themselves with the mutilated N8 billion cash.
They rather burnt old newspapers in place of the defaced Naira notes, thereby making a mockery of the CBN rule relating to such money.......
But the suspects ran out of luck when one of the bank officials petitioned the EFCC alleging on November 3, 2014 that over N6,575,549,370.00 was cornered and discreetly recycled by light-fingered top executives of the CBN at the Ibadan, Oyo State branch.

The suspects, who were members of the Briquetting Panel, which handles the destruction of defaced notes from commercial banks, decided to play a fast one on the nation and smile to their banks but ran into a hitch for the first time.

In banking parlance, Briquetting is the disintegration and destruction of counted and audited dirty notes.

By this practice, depositor banks usually take mutilated notes to the CBN in exchange for fresh notes equivalent of the amount deposited.

But while carrying out the assignment, the team was alleged to have found one of the currency boxes filled only with old newspapers rather than 20 bundles of N1,000 notes.

A similar case, according to investigation, had been discovered on September 22, 2014 when a box that was supposed to contain N500 notes to the tune of N5 billion was filled with old newspapers.
But unlike in the past, the latest fraud could not be swept under the carpet as a member of the Briquetting Panel from the Osogbo, Osun State branch blew the lid on the illicit deal.
http://dailypost.ng/2015/06/01/efcc-arrests-six-cbn-staff-16-banks-staff-over-n8bn-scam/

I believe that has been practices over the years in all branches with some corrupt bankers to make huge billions. Na the one being caught be dat. Some entered plea agreement and they were given fair judgment as at last yr.


..you can see how the thing will keep on going..... and we say this country still get hope? Everything in this country is between elites and the masses, the rich and the poor...

priceaction:
It has been long battle with effc, but you know our country, when money exchanged hands, then story changes...
This is when it started.....

At least six top officials of the Central Bank of Nigeria and 16 other workers of commercial banks in the country have been arrested by the Economic and Financial Crimes Commission (CBN) for a mega scam involving 8 billion.

The suspects were picked up by operatives of the anti-graft agency for stealing and putting into circulation defaced and mutilated Nigerian currency notes to the tune of N8 billion meant for destruction.

The 16 suspects who colluded with the CBN officials to commit the fraud are officials drawn from Zenith Bank, FCMB, Wema Bank, Access Bank, First Bank, Skye Bank, Ecobank and Sterling Bank.

The officials helped themselves with the mutilated N8 billion cash.
They rather burnt old newspapers in place of the defaced Naira notes, thereby making a mockery of the CBN rule relating to such money.......
But the suspects ran out of luck when one of the bank officials petitioned the EFCC alleging on November 3, 2014 that over N6,575,549,370.00 was cornered and discreetly recycled by light-fingered top executives of the CBN at the Ibadan, Oyo State branch.

The suspects, who were members of the Briquetting Panel, which handles the destruction of defaced notes from commercial banks, decided to play a fast one on the nation and smile to their banks but ran into a hitch for the first time.

In banking parlance, Briquetting is the disintegration and destruction of counted and audited dirty notes.

By this practice, depositor banks usually take mutilated notes to the CBN in exchange for fresh notes equivalent of the amount deposited.

But while carrying out the assignment, the team was alleged to have found one of the currency boxes filled only with old newspapers rather than 20 bundles of N1,000 notes.

A similar case, according to investigation, had been discovered on September 22, 2014 when a box that was supposed to contain N500 notes to the tune of N5 billion was filled with old newspapers.
But unlike in the past, the latest fraud could not be swept under the carpet as a member of the Briquetting Panel from the Osogbo, Osun State branch blew the lid on the illicit deal.
http://dailypost.ng/2015/06/01/efcc-arrests-six-cbn-staff-16-banks-staff-over-n8bn-scam/

I believe that has been practices over the years in all branches with some corrupt bankers to make huge billions. Na the one being caught be dat. Some entered plea agreement and they were given fair judgment as at last yr.


..you can see how the thing will keep on going..... and we say this country still get hope? Everything in this country is between elites and the masses, the rich and the poor...

Thanks so much for educating us on this matter am getting more understanding about this issue directly or indirectly is affecting the economy and the poor masses what a country manufacturing corruption at the highest level what a shame.

More blessing to you priceaction

cgniyi:
@priceaction is right. The complete blame is on the CBN

Normally they should reprint based on the denomination cos some are used more frequently than others

You rarely see 1000 and 500 naira notes as bad as the other denominations.

100 naira bills in particular are the worst. I swear most of the country's health problems come from handling these money alone.

Health concern so true

When you open your wallet, take out a bank note, and look at it carefully. Is it crisp and new or relatively old and wrinkled? The older the bill, the more likely it has, at some point in its circulation, been up the nose of an illicit drug user or down the G-string of an exotic dancer.
Even if all the money in your wallet has lead a relatively family-friendly existence up to this point, it could still be teeming with bacteria that make you sick. This goes double if you have a compromised immune system.

Even if all the money in your wallet has lead a relatively family-friendly existence up to this point, it could still be teeming with bacteria that make us sick. This goes double if we have a compromised immune system.

According to recent published studies, 3 out of 4 bills are contaminated.


Mouth, Fecal, and Vaginal Bacteria Found on Money

The most common microbes found on paper money include mouth microbes, vaginal bacteria, and fecal matter. The former is likely due to the licking of fingers to separate new bills; the two latter due to people not washing their hands after using the bathroom. Also found were bacteria that cause stomach ulcers, staph infections (including MRSA) and acne.

Live Flu Virus May Remain on Money for 17 Days



Although many viruses and bacteria die off once they’ve been on a surface for 48 hours, paper money can transport a live flu virus for up to 17 days! Thanks to the Dirty Money Project, we now know that some bacteria actually grow on money. Other findings declare that paper money may be a contributing factor in the spread of pneumonia during the winter season.



Antibiotic-Resistant Pathogens Also Cling to Paper Bills



In addition to spreading colds and flu, paper bills have also been shown to harbor antibiotic-resistant pathogens. Some bacteria was shown to be impervious to penicillin and methicillin; the latter which makes MRSA such a dangerous and virulent pathogen.



“Only Those with Compromised Immunity at Risk”



It concerns me when I hear or read “only those with compromised immunity at risk.” It’s as though certain threats only pertain to a small percentage of the population such as those with cancer or AIDs.



The sad truth is, millions of people are immunocompromised. If you have hay fever, food allergies, eczema, diabetes, gastrointestinal disorders, or any other type of chronic condition, your immunity is lower than it should be.



This leaves you at risk.

Protect Yourself from Bacterial Contamination



Keep Your Hands Clean


To avoid getting sick from handling money, wash your hands often. Use soap and water as hot as you can stand it and lather for as long as it takes you to sing, “FIA” in your head



There is no need to use antibacterial soap.



When you use a hand sanitizer, be sure it is Triclosan-free. Triclosan is a selectively-toxic chemical, slows your immune system and encourages antibiotic-resistance. Use an alcohol-based hand sanitizer instead.



Eat a Healthy Diet


The one consistent piece of medical advice I give out on a daily basis, regardless of ailment is to eat a healthy diet. Foods such as organic vegetables, fruit, nuts, seeds, beans, legumes, meat, poultry, fish, butter, and coconut oil infuse your body with healing nutrition that keeps your immune system functioning at its best.



Get Plenty of Rest


Without adequate rest, your immune system cannot do its job effectively. Most adults needs 6-8 hours of deep, uninterrupted sleep each night for optimum health. Those with chronic conditions should aim for 8-10 hours when possible.



Boost Your Immune System


If allergies, digestive disorders or an autoimmune disease increase your vulnerability to infection, it’s crucial to boost your immune system.

Thanks for your contribution Cgniyi