₦airaland Forum

After my careful observation of the next line of action by Politicians and Bandits, I have come to the realization that the Naira redesign policy has been subdued by these politicians/Bandits. This is because the greed of most business owners are insatiable and they are eager to mop up these cash for the politicians/Bandits.

Here in Jos, some petty/black market petrol stations have been supplied with PMS/Fuel to sell to the public at a very cheap rate by either politicians or bandit ring leaders who in turn remit the physical cash to their benefactor. These stations sell fuel for as low as 220 Naira per liter but strictly to people with cash.

While a lot of people are happily queuing up for the product at these stations, the cash supply to in the economy are being eroded back into the politicians/Bandits making the cash crunch more severe.

Other business owners are not left behind. Some took extra step to make managers of their business to sign undertaken against giving cash to the public while they stock up the cash to these politicians at a rate of between 100,000 to 200,000 for every One Million Naira. This is the spirit of corruption in Nigeria and it is difficult to tame at the moment.

My argument is that Nigerians are suffering and I know this suffering would have been over by now should the election had held today. But another one week of this suffering should not be endured by Nigerians so the CBN should not extend the date for disbursement of the next batch of the new Notes.

CBN tried to change Nigeria but Nigerians need to be alive to see the change.
This step failed to some great extent at the expense of the masses.

omowolewa:
Most Nigerian Prophecies mere strong wish, hope and demonstrations of strong faith

Trying to tell God what He should do, prays you will call it?

Scripted. My thought though. Nigerians are quiet especially the Christendom because of revelations circulated on social media as prophesy. everyone is waiting for that to play out so they can ascribe it to God. But they are not foreseeing the chance of deliberate attempt to mock God should the prophesy not happen as declared.

Every one is waiting for 29th May to see if the Army would wade in. Religious scripts are easy to be played against Nigeria.

It is Either someone is trying to make it appear that the election was rigged by providing the dollar bills for the RATECH to be used as an evidence or someone actually manipulated the result from the state.

But The 100 Dollar gift clears every confirmed my doubt but I may be wrong.

It will be difficult to verify if those results were actual results from the pollen units.

We were told the INEC server was down so the results that were previously taken snapshots of with the BVAS were lost according to INEC and we were given results sheets to re-upload while sorting them for their original pollen units.

We were invited to re-upload the results at INEC office and a new server was provided for us to do the upload. This was on Monday.

We have instruction to use offline upload of the result sheet because of Network challenges and we were provided with SIM Cards without data.
Again, the BVAS server was set on the demo servers used during our training if any upload is successful, they will end up in the junk but the demo server was offline too.

I can confirmed this from Plateau state and I can tell you a little story of what transpired after the election with the BVAS and result uploading.

Joseph1964:
Looking at the outcome of this election. We know allot of nigerians ain't happy about it. But we really can't change what is odained, exept via violence (which is not a healthy way to get things right).

Considering nigeria as a two religion country. We both prayed and hoped for a leader that will take us to greater heights. But we didn't get what we hoped for(but i'll consider we got what we prayed for).

We needed a leader base on past experience(which is a good analysis) but we should also embrace what could happen in the future(things and people can change) so we prayed and hopefully our prayers is answered(i consider), so i'll advice that we embrace these situation and give the elected president[b](though there are alleged rigging which i didn't confirm in my position)[/b] a chance to surface his strategies as well.

AM ALSO OBEDIENT BUT WE NEED TO LET KARMA WORK IT SELF.

First of all, you are not obedient. The bold statement confirmed that.
Secondly, a reverse psychology is a synonymous to the northern kind of politics. It is only a northerner that can ask you to let karma handle things or even advice you to pray because they do not believe in prayers. So you are not a Yoruba but a northerner.
Thirdly, Nigeria is an auto pilot country that is rigged against the Igbos. Every little agitation will be hanged on the Igbos so the Igbos knows well to be silent and watch the body language of others.
Finally, it is only guilt that can push for this kind of disguised public apology.

I knew this result will be rigged. So I am not surprised at all.
It is obvious also that you are expectant of violent reaction by this comment " But we really can't change what is odained, exept via violence (which is not a healthy way to get things right)." but the people your group think they are oppressing had endured more pain than election defeat by rigging.

thesolutions:
That will be a very difficult task. Nigerians has not risen up yet. all I see is cruise.

CBN can come up and implement something without it being debated at the national assembly and Nigerians are mute about it. We don't have nationalist anymore. all we have are political jobbers who only criticize just to be seen and rewarded with cash or appointments.

Nothing will change.

And I said this.

OneCandleAway:
Nasarawa has a lot of Christians. Nothing less than 50% Christian I believe. So many areas you won't find a mosque in streets. How they let the Muslims suppress them so they can't produce a Christian governor is what I can't understand.

Politics of interest is all there is. They incumbent funds a strong contender among the opposition in another party to split the votes the opposition could have garnered.

Massiveglory:


This is not a dinner matter. Whoever is invited will only decide for himself. Lagos matter is not even ibo. The citizens of Lagos made up of various tribes decided for PODATTI.

His excellency Sanwolu was invited few weeks ago to tell Lagosians what He has to offer. He rejected the invite.
The man was doing big boi with structure..

Governance right now is beyond all this tete-a-tete.
Citizens are suffering from thuggery, nepotism, cult governance and so on.

Let's finish with the presidential. We will meet you at the poll.

This is it. The more people try to make it an Igbo thing, the harder things become to the south easterners.
They should not claim glory of what ever happened in Lagos before the west start treating them like the north are doing.
The political class has gotten the message. It is only remaining for an independent and incorruptible umpire to be instituted.

Why are people so emotionally attached to fake news.
The total votes in Plateau State might not be up to 1Million votes.
Don't follow fake news from mischief makers whose aim is to make you believe their fake news and ignorantly stir up crisis when the actual result start coming in.

That GossipNinja needs to be banned.

chai

Those monies in the POS agents wallet has to be transferred into an account. If it is a politician that owns that account, he will have to give account on how he got the money given that office holders are not allowed to run private business. So, no office holder can open any business in his name and put such huge amount of money in it. That is one.

If politicians uses human proxies to open the business, they may escape the consequences of corrupt act if the business handler is upright. but the economy gains as the money is invested in something meaningful and is both in circulation and also taxed unlike when it is stacked somewhere and is unproductive.

POS business is not the problem. It will be faced out very soon as more business banks are licensed and charges are minimized.

The only problem we have now is civil servants. By civil servants in this regard I mean CBN and it staff. They can not mobilize to handle the responsibilities of receiving the old notes and they cowardly pushed it over to Deposit money banks without any stipend to the staff bearing the burden and no plans to provide human resources from their idle staff to assist in this exercise but are quick to sanction any error. Now that they have mandated Commercial banks to bear this burden, the people are going to still keep the old note in circulation and this rush to deposit this same old notes is going to be re-visited again and again because of their being irresponsible and lazy. So bad they kept making corrupt politicians seem right to the public.

TheSameGuy:
Glo and Etisalat left the group

Etisalat changed name and started claiming virgin but was busted. That is why it has been silent ever since.

The end

portal for the form not given. this is not appropriate.

Jos. It was very embarrassing. My abandoned airtel portable mifi came through for me. customers can't do transfers as most use mtn network. but my pos was buzzing for them.

Luxurysouls:
I disagree with this as an economist

No theoretical economic model can work in Nigeria.

If the government succumb to the supreme court order on suspension of the deadline for the use of the old currency, it will appear that APC created this panic deliberately about the new/old note to make oppositions lodge their money in the banks over the panic while their own candidates is allowed to use the notes for campaign being aware of the plan. This is not fair politics. I don't know the candidate that this act will benefit but it is easier to point finger at the ruling party while I keep my fingers crossed at the actions of the PDP candidate that is enshrined in a lot of conspiracies.

Aristo3146:
So dumb of anyone to suggest this 🙄

Yes. we are in a very dumb nation. we are in this together.

CBN gave banks money and not POS operators. They should give the Microfinance banks money also to distribute to their agents so they can boldly come out and regulate them and not POS operators who sourced fund with more fund.
This lack of direction is really irritating. No planning for situational action. really bad.

I believe the CBN embarked on this naira redesign after seeing this thread. https://www.nairaland.com/7248444/nigerias-currency-should-expiry-date
But they chose the repainting and discard the introduction of a new currency or higher denomination. this is the reason there is this panic.
The people the CBN are trying to put in check are the ones feeding the masses and so they can easily entice them to a protest not to mention tipping selfish bank officials for the new notes while the people that make use of it on a daily basis suffers.

The Objective first is to get the old notes to the bank while taking record of the amount of cash deposit flowing into which account and whose own.

The second objective is to make sure idle money stays in the bank or be replaced by a higher denomination should it leave the bank so that the CBN won't be minting money too frequent at the expense of the national budget.

The only quick fix has two option.

One is to introduce a very high denomination of the Naira to reduce minting cost, Let us say N10,000 note. With this people can have access to their money for investment and daily transactions and not be made to feel as if their money isn't theirs anymore. This is why I think over the counter limit is evil and wicked. With the new higher denomination, account owners can withdraw any amount they need in higher denominations while limits are places on Card transactions at the ATM for those withdrawing meager amount for feeding and other bill payments.
The other is to introduce a new currency different from the naira whose value will be equivalent to, at most, the highest denomination of the naira. This is not phasing out naira or making it of less value. It will make for some cash transactions to be less bulky and convenient.

Which ever the Central Bank of Nigeria chooses, The aim of the redesign is met while the government agencies faces the corruption in their own system and armed forces faces the bandits and kidnappers they are paid to handle.

I have always said that Nigerians are selfish and will find ways of taking advantage of any situation for selfish benefit, it is the duty of the government to create that platform but make it to work under a legal/legitimate framework. I have advised for an e-currency owned by the government with value higher than the black market value of dollar to entice the hardworking youth that earn foreign currency from the net to make use of this e-currency as it exchange hub. So it will appear they are working for federal government and earning FOREX for government and not bureau de change operators who sells to the highest bidder.

We can not continue to look and laugh at the victory over few criminals while ignoring the suffering of Many who are affected by the battle.

One step at a time.

Please, how much is on that display? How much has the terrorist taken from the economy.

Gumi mobilizing money from banks in this show by his terrorist gang with the aim of making the move appear as failure shows they are out of tricks.

They should demand for foreign currency. Government is coming after that too. Government is going to hear my advice and introduce an e-currency that will be above black market exchange rate for the most popular foreign currency and everyone that earns or receive foreign currency will prefer to exchanged it to the new e-currency from the comfort of their home and it equivalent transferred/credited into their naira account should they need it. Here, the cash flow is monitored as the withdrawal limit will prevent single swoop of the fund by the receiver. To achieve this, CBN needs be in charge of receiving foreign currency. They should not allow google, Amazon and other platforms of payment make foreign currency easily accessible.

ok.

Move you fund to your eNaira wallet for now.

I have three POS devices but only one is paying.
The one paying did not for once pay any verve cards notwithstanding the bank.

I see it as a deliberate attempt to sabotage this shift.


i believe CBN is overwhelmed and need some support, but the banks are making the masses to struggle in an attempt to create an uproar.

Operating a commercial bank in Nigeria is a huge loss. They give you loan and collect simple interest. If they operate a compound interest, the rate will be in per day and not per anum. They are seeing a huge migration of customers to business/microfinance banks in droves and they are not happy about it. I have not renewed my ATM Cards from 4 different banks. Just transfer the money I want to use to the one that has ATM card when I need to and save myself from Quarterly Card Maintenance charges and renewal charges.

More harm is coming to The Federal Government and the Central bank if they don't introduce a working digital currency that is tied to something that appreciates in value higher than interest rates given by banks so that citizens can buy into it while the real money remain in the hands of the government and not this sham called eNaira. The owners of Digital currency owns more or close to 50% of US Dollars and that is a problem. If Someone develop something that works in Nigeria, The Nations currency is going to be in the hands of unknown individuals because more people are going to put their money in it with hopes of getting something meaningful out of it. This means no money for banks and other businesses, and if it is created by people with destructive mindset, new era of terror might be birthed.

Nigeria need a digital currency owned and controlled by the federal government. If they succeed in this, they won't be selling all this government bonds again.