Stella77: has excluded mobile money/Point of Sales agents in Abuja and Lagos from its newly launched cash swap programme. The development came as the January 31 deadline for the phasing out of the old N1,000, N500 and N200 notes approaches.
In a Frequently Asked Questions document released to selected agents and obtained by our correspondent on Monday, the CBN provided some guidelines for the cash swap programme.
According to the document, only five banks have been approved to engage in the programme.
They are Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, First Bank of Nigeria Limited, and First City Monument Bank. It read in part, “Not all agents can participate. This is open to only selected agents profiled by the super-agent/MMO/bank and submitted to the Central Bank of Nigeria and participating banks (Access, Zenith, UBA, First, FCMB).”
On the number of states selected for the programme, it read, “Selected agents in all the 36 states (except Lagos state and FCT, Abuja). Lagos and Abuja agents are excluded from this.”
Also, the agents are restricted from using the new notes for their regular transactions, only for the programme.
Access Bank, Zenith Bank, UBA, First Bank And FCMB To Begin Cash Swap Of Old Naira Note For POS Operators(Abuja And Lagos Excluded) On where the agents can get the new notes, the document added, “from one of these designated banks (Zenith, First Bank, Access, UBA, FCMB). However, you must have a bank account with that bank and your operators (super agent/MMO/bank) will have pre-registered you with the bank where you have an account.”
It added, “you must go to the bank you have informed operator (super agent/MMO/bank) of. That is where your agent details will be submitted to for verification when you get there to collect the new notes.”
Also, each agent’s name, BVN number, and operator’s name are required before the new notes will be released.
The document added that the bank would also verify the agent’s picture and fingerprint.The document also noted that an agent is expected to have a record of the customer’s Know-Your-Customer information, which includes name, phone number, bank, account number and amount.
It was also noted that why there is no restriction on how much a customer can deposit, only N10,000 can be released per customer under the cash swap programme.
The CBN also urged the agents to open a bank account or wallet for customers with bank accounts.
An agent can only get up to N500,000 new notes weekly for the programme.
Also, each agent is expected to record all transactions performed with the new notes and submit the record to the operator (super agent/MMO/bank).
Regarding what happens if an agent uses the new notes for other purposes other than the new naira initiative, the document noted, “There will be severe sanctions such as de-listing as an agent, withhold of any applicable benefit, de-list from future programmes, negative report to bank & CBN and other such penalties as directed by regulatory authorities.”
In a memo by Moniepoint to their agents, agents were asked to collect BVN, NIN, or voter’s card details from customers paid new notes.
The memo read in part, “The Swap should be in the form of PoS withdrawals only of not more than N10,000 per person. Any withdrawal more than N10,000 per person should not be paid with new notes.
“Agents are also permitted to charge cash-out fees for the cash swap transactions but prohibited from charging any further commissions to customers for this service.
“You are to collect BVN, NIN or votes card details from customers paid with new notes for weekly submissions to the CBN.
“The CBN will continue to monitor implementation of the programme and provide further guidance as may be necessary.”
The National President, Association of Mobile Money and Bank Agents in Nigeria, Mr Victor Olojo, said a proposed meeting with the CBN did not hold.
He further noted that the agents were still actively involved in the process and a framework had been provided to guide the programme.
The CBN when announcing the cash swap programme which began on Monday noted that the initiative was aimed at enabling citizens in rural areas or those with limited access to formal financial services to exchange old naira notes for the redesigned notes.
To promote financial inclusion, the CBN said the service was also available to anybody without a bank account.
It said agents might, on request, instantly open a wallet or account, leveraging the CBN tiered know your customer framework.
This, according to the bank, will ensure that this category of the populace (unbanked citizens) is able to exchange or deposit their cash seamlessly without taking unnecessary risks or incurring undue costs.
The CBN also directed agents to sensitise customers to opening wallets/bank accounts and the various channels for conducting electronic transactions.
Governor Chukwuma Soludo says the Labour Party’s flag bearer, Peter Obi may win the February 25, 2023, presidential election in Anambra State.
He, however, doubted the chances of his predecessor to win the overall presidential election next month.
“I wish Peter Obi the best of luck. Let him go and compete as others,” Soludo said on Channels Television’s Politics Today programme on Thursday. “We (APGA) are also competing in the same race. We have our own candidate (Peter Umeadi), who is also son of the soil, coincidentally from Anambra State as well, and he will do his own bit, get his own votes.”
The governor referred to his piece in November 2022 where he said though Obi might win in Anambra but won’t win the overall presidential election.
“In that piece, I even considered that Peter Obi might win in Anambra State. I did mention that,” he said but doubted the possibility of the LP presidential candidate to win the overall election.
Soludo, the new national leader of the All Progressives Grand Alliance (APGA), also said he has given Obi all the support a state government can offer to a former governor like Obi, who was in office between 2006 and 2014.
The Anambra governor said he has been fair to all parties campaigning in the state and has not denied them state facilities to use for rallies.
Of late, Soludo, a former governor of the Central Bank of Nigeria; and Obi were been engaged in altercations on the state of Anambra economy.
Soludo had said the investments Obi left in government are worth close to nothing.
The APGA leader also said Obi can’t win the 2023 presidential election as there are “two persons/parties seriously contesting for president” – Atiku Abubakar of the Peoples Democratic Party (PDP) and Bola Tinubu of the All Progressives Congress (APC).
However, Obi replied that he did his little as governor of Anambra and urged Soludo to do his best in the state as an economics professor.
The duo met thereafter at a function in Awka and locked in an embrace in what has been described by many observers as a “reconciliation move”.
Victorharuna1: The request by the Peoples Democratic Party (PDP) to make use of the MKO Abiola International Stadium for the rally of its presidential candidate, Atiku Abubakar, has been turned down by the Ogun State Ministry of Youth and Sports.
The party had made the request in a letter to the State Commissioner for Youth and Sports on January 3, 2023, ahead of the rally slated for January 19.
In the letter signed by the State Secretary, Sunday Solarin, the PDP recalled how an earlier request for the use of the stadium was not obliged by the state government.
The presidential candidate of the All Progressive Congress Bola Ahmed Tinubu is holding his rally in kwara state, illorin precisely. The turn out from the kwara residents has been deemed encouraging so far. Tinubu who is still perceived as the favorite to emerge the winner in the upcoming election in February still has a whole lot of work needed to be done. Tinubu biggest rival presently is no longer atiku but now Peter Gregory Obi. Lalasticlala Mynd44 Nlfpmo
gidgiddy: I want my fellow Igbos to understand the hypocrisy in Nigeria and what is going on:
Those who said Igbo cannot rule because of IPOB in the South East, are the same people who elected and re-elected a Fulani man like Buhari even though Fulani herdsmen are killing people in all 6 geopolitical zones in Nigeria
Those who say the first coup was Igbo coup are the same people who never give ethnic name to the seven other coups that happened in Nigeria
Those who say they dont like Igbos are the same people who are ready to fight war if they hear the word Biafra
Those who are not happy that Igbos migrate everywhere in Nigeria are the same hypocrites who shout 'one Nigeria' every day
A Middle-aged man yesterday reportedly committed suicide, Reports.
From The Information Gathered By , The man, whose identity is yet to be ascertained, was said to have committed suicide by hanging himself on a tree in the vicinity of his residence.
He was said to have done this by climbing on a ladder to be able to tie himself to the tree while he remained suspended on the tree after he kicked away the ladder with his legs.
Why he decided to take his own live has not been known as he was reported to look hale and hearty the last time he was seen by his neighbours before he committed the suicide.
There were, however, speculations that he might have committed suicide because of the prevailing economic hardship In Nigeria.
It was gathered By , that his decision to take away his own life has left his family members, neighbours and friends bewildered because they had no premonition that he was going to take his live.
His disturbed family members have removed his corpse, As At The Time Of Filing This Report.
Support @atiku 2023 we come with technical strategy to fix Nigeria and get Nigeria working again, Together we can make it , every support count, every individual is important, every Nigerian deserve good governance. As one, we will Recover Nigeria #AtikuOkowa2023
Abi1985: Many ladies have saying that they do not want to date a broke man. The reality is that even the richest men today were once broke and no one wanted them back then. If you saw Obi Cubana back then, you will not know he was going to be rich. Most men in their 20s and 30s are starting their hustles or career: they still yet to attain their prime wealth. How can you expect a 20s something year old man to have a house and a car when he barely finished serving and still looking for a job? Make we reason No one becomes rich overnight except you hit the lottery or your parents have money or you are very good in sports or music. Stop with high expectations of I do not want broke men. Instead look at his work ethic, how he handle his money and decide for yourself. If he has quality of earning money or make investment, he is not lazy- go ahead and date him A rich boyfriend who doesn't like to work and who rely on his parent's money can be the brokest man tomorrow. A man obsessed with nairabet even with millions of naira in his bank account will be broke tomorrow.
Truth
Especially the humble, not the otherwise
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FreedomfromtheT: One of the bane of Nigeria today is embezzlement of public funds otherwise known as economic or financial corruption. The APC and president Muhammadu Buhari campaigned vigorous on anti-corruption in 2014/2015. Wether the outgoing president and his party have really fought corruption or enabled this behemoth is left for Nigerians to judge. Ironically, the ruling APC seems to be shy on campaigning with the anti-corruption agenda this season for obvious reasons or reasons best known to them. Among the three or four major contenders - Atiku, Kwankwaso, Obi and Tinubu, who do you honestly think will fight this social malaise called corruption if elected president of the federal republic of Nigeria?
Trollronaldo: Below is the amount of registered voters by regions. I am going to make this analysis based on 40% voters turnout in every region, it's not certain but it's enough to give us an insight to as to what will happen in February.
Based on 40% voters turnout, here is the figure from each region
1. NW 8,902,224 2. SW 7,183,506 3. NC 6, 145, 492 4. SS 5, 776, 285 5. NE 5,016,971 6. SE 4,363,042
Analysis based on regions based on my predictions are as follows
I see Tinubu getting the most votes, however, this is not certain. Tinubu will get the most votes but won't get 25% required coverage. Tinubu will go into a rerun with Atiku. Atiku will beat Tinubu in the rerun by winning SE and SS. However, it's still too close to call, Tinubu and Atiku may lose the momentum to Obi.
repogirl: Hi guys, it's been quite a while but Repogirl is back, or is she? lol, we'll just have to hold on a while and see about that.
Okay, so I decided on posting a new story which I've been trying to work on without success, I believe with the collective help of Nairalanders kicking my butt and harrassing me all over the place for updates, we will get it finished one way or another and make it another hit like false pretenses was.
So, please read, enjoy, comment and spread the ministry to others, Thainks .
Politics › Re: Lagos Was A Super Slum Until Tinubu Became Governor - Shettima (Video) by Suunnn(f): 3:42pm On Jan 24, 2023
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