Stats: 3,185,975 members, 7,927,915 topics. Date: Thursday, 22 August 2024 at 04:20 AM |
Nairaland Forum / Nairaland / General / Business / CBN Writes Banks On Implementation Of Naira Re-Design Policy (25949 Views)
New Rules For Banks On Money Laundering / CBN Writes Banks, Requests For Accounts Without BVN / CBN Writes Banks, Requests For Accounts Without BVN (2) (3) (4)
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by BreakingNews21: 7:33pm On Nov 06, 2022 |
Hmmm, many developed nations have gone totally cashless, especially Japan and S. Korea. I can't wait until we see such progress in the financial sector. How I dislike those forex traders inflating our local currency for profit. ![]() |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by luluosas(m): 7:36pm On Nov 06, 2022 |
Good one |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by JesusChristLord: 7:36pm On Nov 06, 2022 |
Bullion van emi lekan oya go and spend ur billions. Thanks CBN for this below the belt gbas gbos Teach these politicians a big lesson. India did it and curbed corruption. Continue wt these policies until these thieves learn their lesson 1 Like |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by BrutusOj(m): 7:37pm On Nov 06, 2022 |
Hehe...CBN luring politicians and those hoarding naira to submit themselves. ![]() 1 Like |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by nurric(m): 7:38pm On Nov 06, 2022 |
Bullion van city boys, matters arising as this one shock baba them. I hope CBN won't alter the deadline date 1 Like |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by nedekid: 7:38pm On Nov 06, 2022 |
OVAFYNBOY:I hear say you cannot deposit more than 5m in a new account in a month and more than 50m for an old account in 1 month too. And you cannot use multiple accounts as it will be monitored through bvn. This one them announce yesterday. In short, men go rush to buy dollars which will spike the exchange rate. But on the other hand, what will aboki do with the cash he collects since he cannot deposit more than 50m in his account month? Ie aboki will have a limit to the amount of dollars he can sell. Dollar then should reduce against naira! This is what is called checkmate in chess! 11 Likes 1 Share |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by BritishAirways: 7:39pm On Nov 06, 2022 |
IamaNigerianGuy: Out of fear, people run away from trying new things. Don't let "new thinks" scare you. |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by drololaaof: 7:43pm On Nov 06, 2022 |
nlfpmod:The closing date is not possible, somebody will come up with the complaints of people in the north having logistics problem, terror attack zones ,difficult terrain etc . Those hoarding the naira etc . Those trading the naira in parties have not been taken care of!. 2 Likes |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Spandau: 7:44pm On Nov 06, 2022 |
sojayy: Yinmu! Uncle Kunjo. |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by matify83: 7:47pm On Nov 06, 2022 |
IamaNigerianGuy: For the ordinary Nigerian, a digital currency is no different from the current banking electronic transactions. It's those who engage in illicit activities that won't want their transactions monitored. Agreed, you could be locked out of your funds or taxed arbitrarily by a draconian government but let's give it a trial first instead of shooting the idea down even before it's inaugural flight. There are several countries where cash transactions has been antiquated and some of their younger citizens have never seen their national currencies. 2 Likes |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Spiritmask: 7:51pm On Nov 06, 2022 |
A 1 Like |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Gbeng30(m): 7:52pm On Nov 06, 2022 |
Parachoko: Policy were put in place just to change the naira note as they have been proposed...if you know. You know |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by olisefom: 7:55pm On Nov 06, 2022 |
Are we not supposed to have started using the new notes already? Are these guys expecting us to be out of cash completely before they miraculously supply us? Nigerian economy is cash dependent and CBN is not making avaliable the new notes yet. I sincerely don't understand this policy. |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by ojesymsym: 8:01pm On Nov 06, 2022 |
Is there a way for eNaira can be designed to be used to pay for little transactions like buying biscuit, paying church offerings and low transactions? How does Kenya applies theirs, do you know? BritishAirways: |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Nobody: 8:02pm On Nov 06, 2022 |
I think that's a good development |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Nobody: 8:11pm On Nov 06, 2022 |
Fiat is dogshit |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by adonainana: 8:14pm On Nov 06, 2022 |
Brillant idea Wrong timing The idea would easily have achieved it aims pre 2016 era. With no pressure on the currency, no obvious inflation, no obvious need to increase interest rates at the time This idea would have easily counter attacked illegal and dirty money in the system. But look at the timing where this is been done, firstly you have inflation which you need to discourage rampant spending to bring it under control. Whilst you are doing that you have just redesigned the notes which further supplies the economy with more naira notes and more like hustling backwards Secondly naira already was under intense pressure, by redesigning the currency all the illegal money in the system its obvious its dollars they would be looking for to convert their old naira to, why the own goal for no reason Like I said Good idea Bad timing which makes the project a waste of time You can't be changing your legal tender jn the midst of economic madness Both the fiscal and monetary policies must work to make things easier for nigerians not harder |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Elidrisy20: 8:15pm On Nov 06, 2022 |
Economy minister abi na economy president |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Parachoko: 8:18pm On Nov 06, 2022 |
Gbeng30:So what are you trying to say? |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by CheapHomes1: 8:28pm On Nov 06, 2022 |
JoshTim: What exactly is now the benefit? |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Cubanaocean: 8:31pm On Nov 06, 2022 |
Serious buyer's only EOD 1•65m and discussion continue 1•35m within Lagos
|
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by CheapHomes1: 8:31pm On Nov 06, 2022 |
olisefom: It's a stupid policy meant to enslave Nigerians. Like adeboye asked, why are you beautifying and redesigning a worthless currency? I perceive that after the deadline, they might impose restrictions on cash withdrawals |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Cubanaocean: 8:33pm On Nov 06, 2022 |
Serious buyer's 08144763847 EOD and discussion continue 1•35m and 1•65m
|
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by CheapHomes1: 8:33pm On Nov 06, 2022 |
matify83: Should this be the focus or the focus should how to revalue the naira? Why redesigning a currency that has no value? |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by GeneralDae: 8:36pm On Nov 06, 2022 |
JoshTim:Also if CBN can seize on this opportunity, they can find a way to push the E-Naira more. The only real negative to me here is the depreciation at the black market rate which CBN can solve if we begin to get more dollars from termination of subsidies. Then we can unify the exchange rate by opening the official rate to all. The benefits outweighs the cost. 2 Likes |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by einsteine(m): 8:44pm On Nov 06, 2022 |
CUMIN: They have been told not to. That doesn't mean they can't. |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by DaveHarry(m): 8:53pm On Nov 06, 2022 |
Abeg make i eat only chicken this night. Buhari? I like him but not as a politician. Very poor in good economic policy making. |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Parachoko: 8:58pm On Nov 06, 2022 |
drololaaof:Nonsense talk |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by baralatie(m): 9:09pm On Nov 06, 2022 |
nedekid:Don't count your chicks till they hatch |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by Nobody: 9:18pm On Nov 06, 2022 |
g) Banks shall cease to load their ATMs with old Naira notes from January 31, 2023, as the old Naira bills shall cease to be legal tender from that date. Does this mean that after depositing my old notes, banks atm will still be dispensing those same old notes until 31st January which is the deadline for those notes being valid? Doesn't make sense except if they deliberately want people to lose money. |
Re: CBN Writes Banks On Implementation Of Naira Re-Design Policy by nedekid: 9:18pm On Nov 06, 2022 |
baralatie:Its just my opinion, and that is the only light at the end of the tunnel I have seen while trying to remain positive. What are your own thoughts? |
Sack Fever Grips Bank Workers. / Kairo Market In Oshodi On Fire (photos) / GTB, FIDELITY, UBA Card: Which Is The Best For Online Payment?
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 54 |