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Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order (40674 Views)

Naira Scarcity Lingers Despite Supreme Court Judgment / Banks Begin Collection Of Old Naira Notes Despite CBN’s Denial Of Directive / Bank ATMs Still Dispensing Old Naira Notes, Despite CBN’s Directive (2) (3) (4)

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by azpekuliar: 7:07pm On Feb 10, 2023
Well, if you insist on using the old notes because you chose to be misguided by the likes of El-Rufai, be prepared to deposit them at the bank of the supreme court after the deadline.

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Lawalemi(m): 7:08pm On Feb 10, 2023
Just see the rubbish that Buhari is taking the nation through

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by writeprof(m): 7:08pm On Feb 10, 2023
Pierced:
Toaday.......at mile 12 market.......even till now.... people are still collecting old notes.

I wonder what will happen on Monday. Maybe banks will not open.

Have the banks been opening where you are? They have not in my areas in Lagos and Ogun States.

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by sliky09: 7:09pm On Feb 10, 2023
Vote for Peter Obi

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by drololaaof: 7:09pm On Feb 10, 2023

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Nobody: 7:09pm On Feb 10, 2023
grin grin

Very reason I stopped arguing with Tinubu's urchins on the other thread.

Supreme Court sidon give nonsense order wey no dey binding on CBN, because the apex bank was not part of the sued parties, and una just think say commercial banks go wake up reverse policy when their Mother Bank never give them order to that effect?

When they say Tinubu's urchins are foolish, there are very good reasons why. Make the Supreme Court waka go banks go enforce the injunction na.. grin!

Stupid bastards!

8 Likes 1 Share

Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by chiefolododo(m): 7:10pm On Feb 10, 2023
Supreme court will collect it

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Vatod(m): 7:11pm On Feb 10, 2023
What will happen if we continue spending it ?

1 Like

Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Lumig: 7:11pm On Feb 10, 2023
They are playing cheesy
Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Miles300: 7:11pm On Feb 10, 2023
So much confusion here and there, Nigeria is just a kangaroo state...we have never had it this bad and chaotic ....supreme court dey talk one thing , bank dey do another thing , CBN self confuse ...

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by writeprof(m): 7:12pm On Feb 10, 2023
The banks are not serious. As far back as last week some of them have refused to open their doors to customers for transactions.

I was at a FirstBank branch yesterday,but they said they are not opened. I went this morning, the same story. I just wanted to pay a cheque into my account to access money. No way

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Gilgil: 7:12pm On Feb 10, 2023
I don't think ot will work so.

First, banks are not taking the money. No matter how people cooperate, they won't win since from now until forever, the banks won't take the money, it will just be like monopol money.

When those people want to do real business they will have to get the new notes in circulation from the banks and the najs won't take their old notes forever. So it will be a loss.

CBN has already mopped up o er 80% of the cash targeted and so they won't mind the rest. Remember they also destroy old and worn cash notes from time to time and so this will be considered as such.

Plus digital channels are already there to do transactions with.

The banks can never go bankrupt, do you see how much profit after tax that they declare every year? In billions of Naira!!

Plus CBN will keep injecting cash to the commercial banks in a controlled fashion.

See, once CBN is quiet like this into next week, then it's all over.


AsomughaChuks05:
People are still c9llecting the old notes as of this afternoon that I went to the restaurant. If the people cooperate, there is little the CBN can do until they mop up the old notes completely. If the commercial banks don't collect the old note(which is doubtful), they risk going bankrupt if customers decide to start keeping their cash at home.

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Cti28(m): 7:13pm On Feb 10, 2023
Pierced:
Toaday.......at mile 12 market.......even till now.... people are still collecting old notes.

I wonder what will happen on Monday. Maybe banks will not open.
The chaos that will ensue might degenerate to something else.

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by oshiokpu(m): 7:14pm On Feb 10, 2023
Banana Republic

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by feeloscar(m): 7:14pm On Feb 10, 2023
AsomughaChuks05:
People are still c9llecting the old notes as of this afternoon that I went to the restaurant. If the people cooperate, there is little the CBN can do until they mop up the old notes completely. If the commercial banks don't collect the old note(which is doubtful), they risk going bankrupt if customers decide to start keeping their cash at home.
Keep the old notes at home and use where?

2 Likes

Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Kingkolaq(m): 7:15pm On Feb 10, 2023
Pierced:
Toaday.......at mile 12 market.......even till now.... people are still collecting old notes.

I wonder what will happen on Monday. Maybe banks will not open.

There papa... The small vaulewnce when they see few weeks ago them close all there branch offices

1 Like

Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Truvelisback(m): 7:15pm On Feb 10, 2023
It is now that i know that one can be highly educated and still be very, very stupid. How can u reject old notes when u haven't made enough of the new notes available? How many of the new notes are in Circulation? Are these people not highly educatively stupid?

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by walexyatzion: 7:16pm On Feb 10, 2023
Houstency:
APC -- All Past Criminals... Add your own!

A party of confusionists

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by pongwa(m): 7:16pm On Feb 10, 2023
ChangetheChange:

grin grin grin
Lol they should take it to Hell Rufai or Tinubu's house to exchange since they have made themselves ministers of financial affairs
Obi supporters

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Nobody: 7:17pm On Feb 10, 2023
Upworkwriter007:
People are still collecting old notes. it like CBN has their own law, while the populace has another. This is the definition of anarchy

Which anarchy?

What would it take to make you people understand that the CBN is an independent institution whose head is nominated by the President and confirmed by the Legislature? They have their own working templates. You went ahead to sue the President, who didn't actually come up with the policy, but only approved it after it had been made by the apex bank. Yet somehow you're dancing in joy that the judgement of the court is supposed to be binding on an independent institution.

Mtscheew!

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Gilgil: 7:17pm On Feb 10, 2023
The deadline means that collection of old notes will be on until close of business today.

Try depositing your old notes tomorrow and see. Thats if the commercial banks are still open to collect deposits on weekends.

brightDdon:





Big fat lie,,

I made on the counter deposit of old note today without stress or question.


Stop misinforming people.

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Lordofalmajiri(f): 7:17pm On Feb 10, 2023
tinsel:

Stop sending out fake news to cause panic. Banks are still accepting old naira notes.
Today is the deadline here in Delta state

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Nobody: 7:19pm On Feb 10, 2023
Best time to make money!

Just sue the bank and you guaranteed of getting paid

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Nobody: 7:19pm On Feb 10, 2023
christistruth01:



No Problems

We understand the Game

The State Governor should just revoke their Certificate of Occupancy for trying to Sabotage the State Economy

The Supreme court is already on their side

State Government should revoke their Certificate of Occupancy, on what grounds please?

1 Like

Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Jack500: 7:20pm On Feb 10, 2023
ChangetheChange:

cheesy grin grin
Jungle don mature
They should go to Hell Rufai house or the supreme court or Tinub's house or any APC office in their States to change their old naira note grin grin grin
Even Supreme Court will vacate that nonsense order next week , and CBN decision next week will be final and heaven will no Fall


You must be mad.

Money that everyone is transacting with here.

Why are all these obidient monkey senseless

8 Likes 2 Shares

Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by NwokoloOwa: 7:20pm On Feb 10, 2023
Pierced:
Toaday.......at mile 12 market.......even till now.... people are still collecting old notes.

I wonder what will happen on Monday. Maybe banks will not open.

Even in Abuja, people are still trading with the old notes. If you follow the definition of money, then CBN should be very careful before the people begin to decide what is legal tender for them like in the old. Because more than 40% of Nigerians are unbanked.

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by DonroxyII: 7:21pm On Feb 10, 2023
Pierced:
Toaday.......at mile 12 market.......even till now.... people are still collecting old notes.

I wonder what will happen on Monday. Maybe banks will not open.
We should just Abandoned the Bank and Continue spending Old Naira notes among Ourselves cheesy ....

CBN no fit wise Pass Us !

11 Likes 1 Share

Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by chiefolododo(m): 7:21pm On Feb 10, 2023
lazynairalander1:
This shit 8s getting realer, 2 ¹½ governors vs FG vs Meffy.

Oh lest I forgot gandollar has also filled a case against the deadline making it 3½ governors vs FG vs Meffy.
Where is my popcorn?
the 1/2 governor is ?
Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by alfajohn: 7:22pm On Feb 10, 2023
Abuja airport refused to collect old 200 naira note. They gave me free passage. Can’t just wrap my head around this situation.
In typical Niger voice God will see us through

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Nobody: 7:22pm On Feb 10, 2023
I know one Bank App refuse to open for a whole 6days because they are upgrading their system. I like the bank, they don't give me unnecessary charges,but the way they are going on and off with their app, I have decided to create a buffer pending when they would be okay. What is important is that we should take the lessons.

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Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Diligence: 7:22pm On Feb 10, 2023
you like interpret it your own way, but note these facts:

1. By 4 p.m. today, 10-Feb-23, the old Naira notes cease to be legal tender.
2. From 11-17 Feb 2023, those mischievous souls can still deposit BUT with only CBN of course after coffee/tea wt EFCC &/ ICPC.
3. CBN would circulate more NEW notes but cautiously wt strict disbursement monitoring on banks because of people like Tinubu & APC & their greedy cronies in some banks
4. Buhari & CBN really desire free & fair elections NOT vote buying elections that Tinubu & APC had vn preparing for.
5. Nigerians should know that CBN & Buhari mean well, but unscrupulous Tinubu & APC mean otherwise esp in connivance with some bankers.

Shebi Money is supposed to be a medium of exchange of value NOT for some heartless politicians who may hv bn hoardg them at various places for evil purposes.

We want DSS to carry out sting operations on Tinubu, his cronies & Lagos State govt. They may just catch dem in the act of illegally hoarding and laundering both old & new Naira notes...

Take Back Your Country
It Is your future they're toying with
Vote Obi Datti
ItIsNowOrNever

5 Likes

Re: Banks Insist On Rejecting Old Naira Notes Despite Supreme Court Order by Jack500: 7:22pm On Feb 10, 2023
Buddha3:


Which anarchy?

What would it take to make you people understand that the CBN is an independent institution whose head is nominated by the President and confirmed by the Legislature? They have their own working templates. You went ahead to sue the President, who didn't actually come up with the policy, but only approved it after it had been made by the apex bank. Yet somehow you're dancing in joy that the judgement of the court is supposed to be binding on an independent institution.

Mtscheew!

People are trading with the money here, you can bring your old money to me

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