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Treasure17:

Where did you see them giving out the new notes?

Where did I see them or they are selling it out at a very higher price. Visit those near you.

Islie:
• Consumers, businesses groan over elusive notes

• Advocate calls for higher value banknotes



https://thenationonlineng.net/why-new-naira-notes-are-scarce-cbn-sources/

See him head like coconut....

If the CBN wants their "online/mobile payment system" to be successful, they only need to print ₦200, ₦100, ₦50, ₦20, ₦10 & ₦5 Notes.

This scarcity will end!

Same rubbish again?


These CBN guys are senile

TOPCRUISE:
Where did I see them or they are selling it out at a very higher price. Visit those near you.

I can't contest this with you base on the fact that location differs. However, it will be ridiculous of those patronizing them because all notes are legal tender irrespective of whether it's new or old notes. Absolutely nobody in my area buy new notes and the highest price for old notes on 5k is #200.

# lifeless legacies

ecolime:
Emefiele must not go unpunished.


President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka, said it was very worrisome that the new notes are not available to the ordinary people on the streets.

BTW, when was this Bank customers association formed? Nigerians and associations sha.. So funny

Bank customers association wey I no be member

This is what we Shud be protesting against but we are more concerned about who won and who lost elections.

Smiling and suffering citizens

LeoDeKing:
Emefiele never intended changing currency. That explains why the new notes were not printed together currency demand.

All his plan was to punish Tinubu while unintelligent ipob terrorists cheered him up. It could be recalled that Atiku, pandora Obituary and ipob terrorists were all hailing Buhari and Emefiele at the peak of currency scarcity.

But immediately after election when the scarcity was still biting despite punishing Tinubu, same ipob terrorists quickly turned around to start blaming Tinubu who was to be punished. Their reason being that it was APC policy. I kept wondering if Buhari and Apc were in Labour party when they came up with the policy while the unintelligent ipob terrorists cheer them up.

In summary Buhari and Tinubu were not to be blame, we should blame Atiku and Obi for this calamity
I didn't know Emefiele is working for Labour party.

God will definitely Judge you.
No be curse oh.

Birdbyrde440:



Demonitisation is the way to go.
Declare the old and new N1000, N500 notes as illegal.

Revalue by removing one zero so that
N1000 becomes equivalent to N100
N500 = N50
N200= N20
N100=N10
N50= N5
N20=N2
N10= N1
N5= 50 kobo

Any outside this will lead to economic suicide, hyperinflation.

Redenomination doesn't solve inflation.

Why is it important to have the new notes when the old notes are equally acceptable

datola:
One economist is even suggesting CBN introduces higher denominations; N2,000 N5,000, N10,000, N20,000. That will create bigger problems for us..

If I were them, I will even cancel N500, and N1,000 and make N200 highest denomination.

even the 200 is still too high.

100 naira will be okay

oz4real83:
redenomination does not add value to currency, it is economic development that gives Value to currencies, go and see Ghana that redenominated their currency, a bag of pure water sells there for over N2000, which is unlike Nigeria where we buy the same amount of satchet water bag for an average of N250\bag.

Nigeria has the strongest economy in Africa, it will be a shame us to have N2000, N5000 and N10,000 notes.

The problem with ghana was that their economy could not maintain the revaluation peg, slowly it went from $1=1GHC to $1=5GHC... same goes for India.

When you revalue you must force citizens to make lifestyle changes and reduce importation, improve effiency of tax collection, reduce fossil fuel dependency, regulate the informal sector and with technology alot can be achieved.

Birdbyrde440:



Demonitisation is the way to go.
Declare the old and new N1000, N500 notes as illegal.

Revalue by removing one zero so that
N1000 becomes equivalent to N100
N500 = N50
N200= N20
N100=N10
N50= N5
N20=N2
N10= N1
N5= 50 kobo

Any outside this will lead to economic suicide, hyperinflation.

Disagree.

Ghana did this unsuccessfully.

Why not address fundamental issues instead of unsustainable window dressing? Most of Nigerias inflation is import led. How does taking zeroes off, address the problem of low productive capacity and preference for imports?

BreconHills:


Disagree.

Ghana did this unsuccessfully.

Why not address fundamental issues instead of unsustainable window dressing? Most of Nigerias inflation is import led. How does taking zeroes off, address the problem of low productive capacity and preference for imports?

We must start by removing subsidy from fuel and taxing it very well, compulsory tax collection/payment from every nigerian >18. How you see am?

samsard:
Redenomination doesn't solve inflation.

It will give us time to make necessary lifestyle changes.
Nigerians are overly externally oriented.

It was never the Central Bank governor's intention to print and release new naira notes in sufficient quantity.
The original intention was to confiscate all the old notes in circulation, and eventually enforce a cashless policy with Central Bank digital currency (CBDC or enaira).

The new naira notes issue was just an excuse to remove cash from the general population.

Gradually, the new notes disappeared.

slivertongue:
Is CBN still explaining her incompetence

It's important that CBN should not have involved herself in this political ROFOROFO but be independent like Mrs Yelen in the American Treasury Department,so neutral, that both the Democrats and the Republican have left that dept alone for a long time! Equally true is those in the dept don't venture into the American Politics too because the World is watching them and why should our own CBN dabbled into the local politics?
Is there not enough troubles on -
- galloping Inflation,
-Unemployment for the Youths,
- aggravated Foreign Exchange etc
- Economic Developmental Issues,etc.
As at weekend,the Bank ATM Machines are working below capacity and funny enough,unlike before,you can only go to your Bank to collect - 50 or 100K ,as Bank limit your ATM Withdrawals in other Banks that is not yours!
New Naira Notes is as scarce as Gold in virtually all the Banks,as they too are using Old Notes!
Don't forget that the deadline is Dec 2023,which is fast approaching.though looks tall.
Thanks to the Supreme Court!
Very Shameful situations!

Birdbyrde440:


We must start by removing subsidy from fuel and taxing it very well, compulsory tax collection/payment from every nigerian >18. How you see am?

If offset gains are well applied why not? We can't keep delaying the inevitable. There is a lot of wastage in Government as well that needs to be addressed.

Adjust structural imbalances and take care of the street, aspiring mid class will shout but how many are they? Are they not the ones craving Kellogs? Let them eat Nasco na

I really hate the new notes. They are very unattractive.

Who here is a specialist on currency swaps or new notes policies? Should the new notes replacing it not be of a higher quality or have better security features than the old notes

I think the only "advancement" of the new notes over the old ones is that it's made in Nigeria which excites Buhari is all bunkum.

In Hong Kong, the central bank does not mint notes. That's the job of the 3 largest banks.

I'm sure if GTB was given the task of producing notes, it would even beat the ones currently used.

Nigerian are hording the new notes dispensed over the ATM abi....


Can recollect withdrawing the new note from any Nigeria bank ATM

BreconHills:


If offset gains are well applied why not? We can't keep delaying the inevitable. There is a lot of wastage in Government as well that needs to be addressed.

Adjust structural imbalances and take care of the street, aspiring mid class will shout but how many are they? Are they not the ones craving Kellogs? Let them eat Nasco na

The proper use of offset gains will depend on who becomes next president. We need someone who is not corrupt, someone thats is a good manager, transparent and fair in judgement.

It will take a while to adjust structural imbalances, revaluation/demonitization will give us the time we need. But we must work strigently towards it.

I have come across a 1999 N100 note and a 2016 N50 note.
Those couldn't have been hoarded by politicians. So many funny angles to this issue of note scarcity.

Failure of CBN and emefiele.. just looking for who to blame for their incompetence

This people just played on Nigerians, they will gradually fade the new notes away.

The CBN is planning of removing the NEW NAIRA NOTE from circulation by continuing with our old ones.

That is a strategy for those that are hoarding the notes, think twice.

Hezzyluv:
I didn't even bother to read it. One thing I know for sure is, the new notes are scarce because Emefiele is a clown.!

...and Buhari is smart and intelligent

Me too. Every new note that enters my hand is not going out.

EMEFELIE is in book of NIGERIA history as useless CBN governor of his time/ BUHARI beside.