Topic: An official update on the deadline for the naira note palava (Read 187 times)

You should have known that the whole December 31deadline is not feasible at all. The idea for the redesign of the old note is a politically motivated thing and they've used it to actualize there agenda so it's very normal to see statement like this from the central bank. The good thing about this whole cashless policy of a thing is that it has helped most local businesses to start embracing the changes in the use of transfer for making purchases which has reduced to a very large extent the rate at which people now move around with physical cash.

There are just many ways to launder money, Former CBN governor and Ex President Don carry us GG, if not why introduce this naira swap without proper preparations. In guise of checking election malpractice, naira redesign would not do it. Good thing to hear the rubbish naira swap is indefinitely suspended. See how Emefiewele make POS business be like NNPC work.

I been don know say e no get how this current administration go begin face the money palava issue of money deadline, because them still dey try recover  expenses on election and get more  affix to the new office.

Na till like next year I know say them go begin talk of to even print or redesign new notes to make the Naira notes become more in unity as compared to the double notes wey full around for some area.

We gather dy for this country brother man. You see this central bank palava ba, dem know wetin dem dy do. You see the last time around February make us see shege, I no fit forget am. I had money on my Palmpay and I literally couldn't spend a single naira because there was not cash and POS were the god at the time milking Nigerians their money, withdraw ₦10k for ₦2k charges, that's absolutely insane, no human should have extort another because of opportunities but naija they always see it as way of making money to buy house and car.

On the matter self, the central bank don talk am say na indefinite and na good thing, everybody fit dy rest now, what they only need to do now as a monetary policy people, they should make sure that any old note that comes to the bank on December should never go out again and should also instruct commercial banks the same thing, gradually old note are going to disappear from circulation.

Pipo really suffer because of the lack of money that period way money been no really dey, but one thing way give me happiness be say, this country, everybody have to survive.
The choking part na as say even the new naira not no even spread to other areas and banks because of the election way been win take place that time, but sha thank God, we as a Nigerians baba God give us one kin grace way be say, no matter how hard the economy of our country dey, we dey always survive to see the end of it.
This torry way you carry come nah better one because I just dey too busy based in one or two things and e con make me no dey even pay more attentions to the news again, but I don get the update.

My brother no be small thing wey men face for this update wey the former president and CBN governor cause oo, alot of people lost so much as the case of fraudulent activity was everywhere and so many people just wanted to survive due to the lack of money. The worse part of issue is that the money printed was not even being circulated and this caused so much panic as people having the old fiat note were trying as much possible to make it possible so that they can deposit their money in the bank and still yet no way  after the deposit, you will left stranded as even the banks were not having the new naira notes. Well I just thank God say all this rubbish don finish because the matter tire me well well and thank God for this administration adjusting this nonsense palava indefinitely.

This government feel say the hardship we don already de is much so if dem try that money nonsense e go spoil their name and reputation completely na why. And dem de feel say e no de necessary now especially as d Naira self no get value for global market, so instead wey dem go emphasize on the new notes, e go better make dem try see if dem go fit raise the value in the global market.

This is a good decision for the CBN and Mr President, but they need to work on the value of Naira and the country’s economy in general.

I thought the court has extended the usage till the December this year, this one I'm seeing CBN extending it Ad infinitum doesn't it breach the order of the court that has extended till December.
The old Naira is over due for renewal, that's why I see this information from CBN as a back and forth decision, the redesign of the old Naira note was for a purpose, with this kind of decision by CBN, it means the redesign was unnecessary.

Nigeria government need to consult psychologists along during deciding on factors that has effects with the public oh because poor immunes is real and tender hearts too dey real.
I talk this because with how tolerating them think some of their publicities my be accepted by the masses dey likely not to be withstood by some of us looking at the past experiences oh.
People lost money last time about this old and new denominations  and honestly, e returned so many back to zero because I remember how we trade with our fiat then whereby we dey exchange a whole #1K to #200. That is even when u see a willing person for the exchange.
That alone caused about people loosing their businesses and essential amenities that supposed be obtained by financial exchange become a tussling milestones to everyone.

I can also imagine some petty traders going to market to buy goods with about #50K but will be conditioned and considered to goods worth just #15K.

My own na make government no dey talk about this tin again bcos e dey remind people some kind intolerant pasts and hearing that such get tendencies to happen again go cause lot of mental breakdowns and frustrations on the vulnerables because even as now, e no easy for life talk more of facing such crisis again.

Thank God them extend this thing because people for do worst if to say after the deadline reach them nor cor see the new naira note tel buy something and when they cor finally get watin they wan buy price don increase wella, this one go for bad, Thank God say then use their head well this time

This na very wonderful news wey you carry come, how dem go just rush us say make we start to use new naira note wey no even dey circulate well, even till now anywhere you go na old naira notes naim plenty pass, I just thank God say this our new presido and CBN governor get small sense. This na the second time I dey see say the new CBN governor dey work, the first one na when em remove FX restriction for some items and I believe say na man way understand the important of crypto currency maybe as time goes on em fit still remove the restriction wey dey for crypto, I no lie you I dey proud of em good works, em dey try.

And if to say dem no extend the date till further notice how men wan do for the new year celebration con join the hardship wet dey ground, e for just be the worst new year celebration wet I don experience.

You do well as you carry the matter come here to so that country people wey never here watin dey happen go get opportunity to hear  the update. Na so I go withdraw money for pos the other day, the pos attendant come say the charge wey usually be #100 come be #150 I come ask am why the sudden increase, she say money don dey scarce as the deadline for the old note don dey reach. I tell the girl say na lie that there is no way wey that December 31 go fit dey possible. Me I was certain say the new administration go extend this deadline. I never see where people dey change money and the only one will cease to exist within one year. This wasn’t the first time Nigeria as a country changed money why this one come dey different if no be corruption. This administration has gotten this one right.

I could remember that time; it was hell. As early as possible, we are already awake to go to the bank just to get a chance of withdrawing only 20,000 Naira per account. Though it is just time and it has come and passed, now is just history, but to be sincere, we suffered a lot with your own hard-earned money, but you will have no access to it, which made many things happen and many deaths occur due to that cashless policy. Most especially those residing in rural areas are the most affected because I know the health emergency case that happened. It was a pregnant woman who couldn’t give birth due to the position of the baby in her womb, and she needed surgery. She needed some money to buy some surgical instruments, but due to that cashless policy, that is how we lost both the pregnant woman and the unborn baby. Such a great loss happened at that time that made me feel so sad.


To be sincere, this is the best solution. If they are trying to enact a law, they should be considering not only people residing in the urban area but also those residing in the rural area. They will have to understand that some people in the rural area don’t have enough access to many things like banks and others, so it will be hard for them to have smooth access to the change in their money to the new note, but with the time given now, it will be very easy for them to have it because of the time given. They will accumulate the new note with time, which is the best opinion.

I think this is a good decision made by the current government to continue with the flow of the old and new Naira notes concurrently until further notice. I wonder what came over the last administration on that decision to put people into unnecessary sufferings by causing the scarcity of naira for some political reasons. Because you cannot say that was solely done to stop kidnappers and bandits from requesting for ransom when at the same time, you didn't work on the security architecture of your country. I don't understand how some leaders take such kind of decisions without considerations to the emotions and well-being of the people.

I no fit imagine the kind of sufferings wey we self undergo because of that decision wey few people make in a roundtable against the will of the general public. Oboi, Nigerians been take style see shege then and I don't really see the much impact that made to improve the lives and properties of the people, if not worse. In that period, we witnessed cash hoarding to the point that most of our parents mentioned that they've never faced such incident before. Even in the past when there was food scarcity. The unique thing about the cash scarcity was that many people had money in their bank accounts and wallets but could not access it cash for their daily business purposes, especially the petty business owners 

Nevertheless, one can say that the cash scarcity also had some positive impacts like the use of e-channels such as the POS, Bank Transfers etc. Since a lot of businesses were losing customers because of lack of cash, they had no choice than to switch to e-channels through accepting POS and bank transfers. For me that is not a fan of cash, I didn't feel much of the impact like others did.

The  idea of naira redesign and cashless society policy were not a bad ones but the implementation process was very poor and inconsiderate. Now this government have relaxed the ban of the old naira notes from thr market while it still promotes the use of the e-channels which people are gradually adopting to. That's how it should have been from beginning and not inflicting hardship on people.

I don't think this one is the reason the Naira is strengthening against the dollar. The Naira gain is as a result of massive influx of dollar into the market as a result of CBN directives to clear foreign-direct contracts that were long overdue. These contracts involved big fish like Tony Elumelu, Dangote and others and resulted in poor flow of dollars. Since they were mandated to pay back their dollar, there was sharp increase in supply of dollar hence Naira had to strengthen... simple demand and supply theory.

This is rhe right thing to do and not to stop old notes when the new notes are not available, exactly what Buhari did and scattered the country.  I remembered that President Jonathan redesigned the Naira note several times yet we never noticed because he never stopped the use of the old notes but only directed banks to retrieve and stop issuing them as well.

I'm happy this new administration is not adding to our suffering with their policies like the last administration. Even though we are yet to see much improvements in the key indices of development, the suffering should not be worse than they met it else people will go into depression.

Already before now almost all of us knew that the deadline for the use of the old naira notes will not stand because for Godwin Emefiele to be suspended and afterwards arrested as soon as President Bola Tinubu assumed office means that there are some controversy that surrounded the naira redesign.

Like for a country that is experiencing economic drop down like Nigeria and for the immediate past CBN governor Godwin Emefiele to impose the redesign currency on citizens at that critical period of time even during the election period is wickedness. Imagine the stress people went through that period, a lot of people got defrauded of their money just because everyone was rushing to deposit their old currency in the bank and due to  the high rate of electronic method of performing transactions as a result of scarcity of the redesigned currency made a lot of people lose their money.

Moreover, the judiciary and the legislative arm of government didn't formerly adopt the redesigned currency as a legal tender. So for me; I don't know the reason why we should redesign the naira except a situation where the country feels that the secrets of the currency have been compromised by another country or fraudsters.

Good day my people dem,

Well this no be new tori again as everyone know how many people take suffer in the hands of the former CBN governor and the former president on the matter say dem come up with the idea to change our currency for the following note #200, 500, and 1000 naira note. This matter caused so many damages for the country last year when the election being dey near so tay many people come dey even think say this people dem just come to kill everyone in the country. But so many people come dey make suggestions say the whole idea na about the election and how dem see fit to take reduce the rate of corruption and to wicked the politicians wey already get plans to buy vote for the election but other come with their suggestions say na to actually give the naira note small value as wicked people don already stock pile so many printed currency and this they make the CBN print more money and we all know when that happens, the money starts losing value.

 This na the main reason wey even the dollar and so many other fiat currency dey lose value too and na also why the technologist behind Bitcoin creation make Bitcoin get a limitated supply of 21 million so that no matter what the currency go get value overtime as people start demanding or please correct if am wrong @open for corrections still learning.

But all the same, the attempt to change the naira wasn't a pleasant one as the CBN failed to make the cash enough or maybe that was also part of the plan as shortage of the cash made the demand increase like mad or the so called politicians dem been already don hijack all the money finish. Going to bank was a war zone and so many terrible things occured during that period, police even nearly beat me up trying to get into the bank to collect your own fucking money, Omo, it was not easy many people Starve well well and most of them get millions for bank but the issue be say no way to a access the millions and money.

Now all this suffering and complain also bring good side effects somehow sha because massive cashless economy was adopted immediately as many businesses come dey accept transfer for the country and till now sef many people eye don open up but the negative effect was too much so the CBN had no other choice but to extend the deadline for the termination of the use of old naira note to DECEMBER 31 2023 and time for this don dey near and I believe upsets don dey come small small as money come dey somehow scarce if you ask me.

But I come see this official release say the new administration don EXTEND THE DEADLINE TILL FURTHER NOTICE so i say make I drop the matter here and many people fit go online see their selves and as we do am make we try relate on our experiences and impact wey this naira swap cause for our great country NIGERIA

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