Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks - Business (3)

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Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks (20635 Views)

We Did Not Authorise Commercial Banks To Collect Old ₦500, ₦1000 Notes - CBN / New Naira Notes: CEOs Of Commercial Banks Back Extension Of Deadline / Businesses In Nigeria Must Accept E-naira Payment, CBN Warns (2) (3) (4)

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Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Bigchristo: 8:08pm On Jan 10, 2023

TooMuchSense1:
Stop putting Old corrupt politicians in power or continue to face economic problems — my warning for Nigerian youths.

This your warning is the best of its kind to issued to Nigerians most especially those who are brainwashed with religious and political sentiments

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by aylipple: 8:11pm On Jan 10, 2023

[s]My gut feeling is there's not enough of the new currencies minted or even in circulation.
Some of the major reasons cited by CBN for introducing the new currency include strengthening cashless policy & reducing the volume of cash outside bank vaults; if that were the case indeed, what that would mean is[/s]

I stopped making sense grin

On a serious note however, the CBN can't play the ostrich here; many banks have not received these new notes & where they're available in the MDBs, only very very very few was released by the apex bank.

lsoul:
This is the raw truth, CBN don't have enough of the new notes to give banks yet. They should stop painting it as if it's the banks fault, have you ever thought of this? If the old notes were exchanged for the new ones by CBN to banks why on earth will banks load old notes?

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Elidrisy20: 8:13pm On Jan 10, 2023

Confused govt

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by rummmy: 8:22pm On Jan 10, 2023

How can illiterates invite a financial expert to come and explain the modalities of a money policy..?
What do they know about economics. grin

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Benwallt(m): 8:23pm On Jan 10, 2023

TooMuchSense1:
Stop putting Old corrupt politicians in power or continue to face economic problems — my warning for Nigerian youths.

Vote Tinubu for president

1 Like

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by bigdammyj: 8:24pm On Jan 10, 2023

lsoul:
This is the raw truth, CBN don't have enough of the new notes to give banks yet. They should stop painting it as if it's the banks fault, have you ever thought of this? If the old notes were exchanged for the new ones by CBN to banks why on earth will banks load old notes?

If you go to Ojota or @ parties in Lagos you'll understand better.

1 Like

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by XOGBADO(m): 8:30pm On Jan 10, 2023

OBUKOMENA:
The difference between the old notes and the new ones na dye. The new notes are mints immersed in different colours of dye while the old ones aren't

You can keep the old one if you wish

1 Like

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Light78: 8:38pm On Jan 10, 2023

lsoul:
This is the raw truth, CBN don't have enough of the new notes to give banks yet. They should stop painting it as if it's the banks fault, have you ever thought of this? If the old notes were exchanged for the new ones by CBN to banks why on earth will banks load old notes?

You talk like you are not in Nigeria.

They are being exchanged for politicians. Banks will collect their percentage.

Someone starched about 180m old notes, goes to the bank and bargain

That's what is playing out. CBN is now warning banks.

5 Likes

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by MarketDispatch: 8:41pm On Jan 10, 2023

UDOKABESTLUV:

Source: https://saharareporters.com/2023/01/10/stop-putting-old-naira-notes-atm-machines-or-face-penalty-central-bank-warns-commercial

CBN should request Nigerians to report any ATM dispensing old notes. The Banks in question too should start paying fines.

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by BennyDGreat: 8:42pm On Jan 10, 2023

Light78:

You talk like you are not in Nigeria.

They are being exchanged for politicians. Banks will collect their percentage.

Someone starched about 180m old notes, goes to the bank and bargain

That's what is playing out. CBN is now warning banks.

This is valid but beyond this, the money released can't be enough

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Naijatalkies(m): 8:45pm On Jan 10, 2023

Shout out to firstbank and polaris bank at dugbe (ibadan) their atm have been dispensing the new Naira notes

1 Like

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Positiveme2020: 8:46pm On Jan 10, 2023

lsoul:
This is the raw truth, CBN don't have enough of the new notes to give banks yet. They should stop painting it as if it's the banks fault, have you ever thought of this? If the old notes were exchanged for the new ones by CBN to banks why on earth will banks load old notes?

Then the commercial banks should come out and debunk the statement. Let's know who is not doing there job properly.

1 Like

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by doneback04: 8:50pm On Jan 10, 2023

This country is not serious as of this morning I still withdrawal old note,

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by BigDawsNet: 8:52pm On Jan 10, 2023

Winnin009:

Nice one!

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by BigDawsNet: 8:52pm On Jan 10, 2023

FERNANDEZISBACK:

Aww!
Are you the same dude as bigdaws on YouTube?

His my mentor cool

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by nauto: 8:55pm On Jan 10, 2023

Banks like 2 hold clean notes and sell them to the highest bidder.
Some just started to release the clean 500 and 1000 notes of the old currency that they have been holding.

2 Likes

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Unclesamo(m): 8:55pm On Jan 10, 2023

lsoul:
This is the raw truth, CBN don't have enough of the new notes to give banks yet. They should stop painting it as if it's the banks fault, have you ever thought of this? If the old notes were exchanged for the new ones by CBN to banks why on earth will banks load old notes?

They know what they released to banks, that's why it's coming with a penalty.

Banks are definitely running some exchanges backdoor.

2 Likes

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by yusluvad(m): 8:56pm On Jan 10, 2023

Way to go. Else the old notes will still be going round...

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by musazulyadain: 9:08pm On Jan 10, 2023

Until now I'm yet to get the new notes

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Komu1048(m): 9:20pm On Jan 10, 2023

UDOKABESTLUV:

Source: https://saharareporters.com/2023/01/10/stop-putting-old-naira-notes-atm-machines-or-face-penalty-central-bank-warns-commercial

CBN n Polithiefians dribbling poor male Nigerians Upandan.

Whatever ways Clitocurrency is still valid n it’s transaction is top notch

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by jaxxy(m): 9:20pm On Jan 10, 2023

lsoul:
This is the raw truth, CBN don't have enough of the new notes to give banks yet. They should stop painting it as if it's the banks fault, have you ever thought of this? If the old notes were exchanged for the new ones by CBN to banks why on earth will banks load old notes?

They are not trying to replace the old notes they are trying to bring them back to the system and release of few new notes into the system and the rest will be electronic.

The aim is not to flood everywhere with new notes like the old one. That will defeat the purpose.

Only limited amount of new notes will be in circulation.

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by jowhyte(m): 9:22pm On Jan 10, 2023

Well said!

How can people think CBN don’t have enough cash (new note) that will go around when the policy fully take effect?

Just as many of these corrupt politicians have been sponsoring smear campaigns to discredit the CBN that the new notes are fake like this is the first time CBN is being involved with new note minting.

I think feedbacks shows that the ones they have distributed so far are finding its way to the hands of corrupt politicians via the aid of corrupt bank mangers and CEOs. The reason the CBN is now mandating the distribution and circulation of the new notes via ATM.

Light78:

You talk like you are not in Nigeria.

They are being exchanged for politicians. Banks will collect their percentage.

Someone starched about 180m old notes, goes to the bank and bargain

That's what is playing out. CBN is now warning banks.

2 Likes

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by 7arrows: 9:27pm On Jan 10, 2023

UDOKABESTLUV:

Source: https://saharareporters.com/2023/01/10/stop-putting-old-naira-notes-atm-machines-or-face-penalty-central-bank-warns-commercial

All.of them are the same. CBN and other banks. They r very foolish and lack sense. They think we are fools.

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by olisefom: 9:28pm On Jan 10, 2023

So they should print it nah

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Indispensable85(m): 9:28pm On Jan 10, 2023

Warn them please

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Nobody: 9:29pm On Jan 10, 2023

Gbadespet:

How does something you've not touched or collected look fake to you? Haba

u dey mind Nigerians? The money is very okay, and has so many visible features dat will aid detect original from fake.

1 Like

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by everythinggirly(f): 9:30pm On Jan 10, 2023

But why N100 no follow?

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by 7arrows: 9:31pm On Jan 10, 2023

oz4real83:
Empty threats as usual, you will go to the banks and they will give you rottened notes, you will go to those note sellers in ring road in Benin city and see crisp naira notes that they got from the same banks that distributed the rottened notes to you. Every thing is just upside down in this country

The corn tree is a shithole.

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by 7arrows: 9:31pm On Jan 10, 2023

Olaolex:
The questions are: Do commercial banks have enough notes to fill their machines with? What is/are the penalty(s)? How are we sure CBN is not being hypocritical on this matter?
Let's wait and see what will happen if by January 31st, the new notes in circulation are still not enough.

The truth is you dont give what you dont have.

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by jojothaiv(m): 9:33pm On Jan 10, 2023

gbengaeed:
Well, they would keep loading the old notes because the new one given to them has been exchanged through the back door for 65/35 with people who have over the years stash up cash in their private vault thinking that is the definition of being rich.

Sad reality.

1 Like

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by SodiumValproate: 9:41pm On Jan 10, 2023

Pwettylinda:

fman come and see the lady with nyash grin

Edit: oooooh! I forgot to add the panty line grin

....brb

Re: Stop Putting Old Notes In ATMs Or Face Penalty – CBN Warns Commercial Banks by Melagros(m): 10:03pm On Jan 10, 2023

gbengaeed:
Well, they would keep loading the old notes because the new one given to them has been exchanged through the back door for 65/35 with people who have over the years stash up cash in their private vault thinking that is the definition of being rich.

Truly, you said something

2 Likes

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