SolidWind:
I don't mean to insult you. You are ignorant of the situation in Nigeria. Some western ountries redesign their currency every 9 years to curb money laundering. Goggle it. But this is not what your CBN is trying to do now. Though your CBN will fool you by claiming to fight money laundering. Ask yourself why CBN never tried this until now. Also watch out for when next CBN will redesign the currency again. This move by CBN is purely political. It is an attempt to weaken one cabal and favour another cabal in the upcoming election.

First of all, you speak about kidnappers. Boko terrorists are the major kidnappers in Nigeria and they get the major ransom paid in Nigeria. The terrorists get whatever they want. The redesign of the currency is not targeted at the terrorists. Government itself pays the terrorists ransom. Just look at your logic. Between giving terrorists the currency and trying to stop them from spending the currency they have, which one is easier for the government to achieve? The government that has on many occasions given the currency to the terrorists? Terrorists that can easily highjack another set of train passengers just to ask the government to change old Naira notes for the terrorists? You are far from the reality in Nigeria.

Talking about politicians hoarding cash, it is a matter of time for the politicians to get enough of the new notes. Printing new notes makes no difference when the financial policy is unchanged.

See yourself. This is how people like you claimed that BVN, NIN and SIM card registration are targeted at terrorists. But terrorism became worse after Nigeria embraced these things.

Talking about e-Naira and cashless economy, how does redesigning the Naira note aid these two things? Does the new design have chips to aid e-Naira? Must the CBN redesign Nairobi notes (physical cash or hard currency) before the CBN can make policies that will encourage e-Naira and cashless economy? You are not logical here at all.

sometimes people reason well but political sentiment won't let them rationalize properly.
If it's targeted at one cabal, I'm sure it'll still have a way of getting non canals that hoard money.
Fact or not..
Besides the cabal ain't good either.

Okoroawusa:
Very helpful and insightful write up. You made sense and have explained it to the basic as possible.
However change the headline and remove the "idiots" part of it. It might put some people off thereby depriving them of the wonderful information you have passed here.

if you read the comments. You'll agree with the idiot.

VKN23:

ppl where killed today under the leadership of APC where they not
gas price increased by 62% in just a year under APC

AND YET YOU ARE BATIFIED

GIVE me 3 GOOD REASON WHY APC SHOULD RULE AGAIN AND I'll DEACTIVATE MY account

Under APC.
10 Kings, 10 periods.
Another King , Another type of government .
Another King, Another set of people in policy making.
APC is a political machine to get people into power.
If buhari is not president today and osinbajo become fully in charge, there will be total changes in the policy of government.
So , APC can still make Nigeria better.
God help us

Oppo na Lia u dey talk, you formulate something for us.

iwaeda:


Insulting people because of your personal interests shows how badly you were brought up

What is his personal interest?

iLegendd:
CBN: What Idiots People Don't Know About the New Naira.

I noticed everyone is complaining about the new notes and it's irrelevance at the moment. That is expected, but I like the fact that no matter how many million times you complain, they'll still do it.

Does the new money have economic value? No. It doesn't, but it has a control value from criminals.

Your complaint can't stop them (the government) and I have vowed never to waste my energy complaining but find out reasons to agree with the CBN.

The main reason for rebranding will never be exposed to the public. Only those who dig deeper will know.

FOUR REASONS FOR THE NAIRA REDESIGN

1. Security: A lot of kidnappers and politicians have bags (Ghana must go bags) of the old notes at their disposal and the government wants to push these people to come out of their closets and head to the bank to exchange these money and from there, they'll be caught. Also, these criminals won't go to the bank — they'll send people and these people will be questioned and if they don't bribe the bankers, they'll be caught.

2. Cleanliness: Some of these old monies are bacteria carriers.

3. e-Naira growth: After this process, the government will put a huge tax on anyone withdrawing up to 1 million Naira. The money you'll pay as tax for withdrawing 1 million Naira will be almost 1 million Naira too. Imagine paying 1 million Naira just to withdraw 1 million Naira? Will you do that? No. Since most people won't do this, kidnappers will mostly reduce their price or they'll start using digital means of receiving payment and they can be easily caught even if it's via crypto.

4. Cashless economy: Just as above, Nigeria will focus more on cashless economy and this will help in curbing crime, bullion vans moving money from bank to banks and getting attacked by armed robbers in the process.

Unfortunately, Internet crime will increase. Some people's e-Naira accounts will be hacked, but the good news is, they'll find out where the money was sent to. So, they'll still get caught.

In summary, what the CBN is doing is good even though it doesn't increase the value of the Naira. At least, it will increase the security of the Naira and curb money abuse and financial crime.

Idiot calling people idiot.

SolidWind:
I don't mean to insult you. You are ignorant of the situation in Nigeria. Some western countries redesign their currency every 9 years to curb money laundering. Goggle it. But this is not what your CBN is trying to do now. Though your CBN will fool you by claiming to fight money laundering. Ask yourself why CBN never tried this until now. Also watch out for when next CBN will redesign the currency again. This move by CBN is purely political. It is an attempt to weaken one cabal and favour another cabal in the upcoming election.

First of all, you speak about kidnappers. Boko terrorists are the major kidnappers in Nigeria and they get the major ransom paid in Nigeria. The terrorists get whatever they want. The redesign of the currency is not targeted at the terrorists. Government itself pays the terrorists ransom. Just look at your logic. Between giving terrorists the currency and trying to stop them from spending the currency they have, which one is easier for the government to achieve? The government that has on many occasions given the currency to the terrorists? Terrorists that can easily highjack another set of train passengers just to ask the government to change old Naira notes for the terrorists? You are far from the reality in Nigeria.

Talking about politicians hoarding cash, it is a matter of time for the politicians to get enough of the new notes. Printing new notes makes no difference when the financial policy is unchanged.

See yourself. This is how people like you claimed that BVN, NIN and SIM card registration are targeted at terrorists and money launders. But terrorism became worse and money laundry cases began to increase after Nigeria embraced the NIN, BVN and SIM card registration.

Talking about e-Naira and cashless economy, how does redesigning the Naira note aid these two things? Does the new design have chips to aid e-Naira? Must the CBN redesign Naira notes (physical cash or hard currency) before the CBN can make policies that will encourage e-Naira and cashless economy? You are not logical here at all.

God bless you

There is some misinformation here.
Government cannot impose such a low withdrawal of 1M and then charge 1M because of kidnappers because there are other legitimate business and high net worth individual that withdrawal of 1M is insufficient.
Besides some certain jobs require casual labour including roads, railway, farms, port, sea,pipe laying etc.

iLegendd you're just an illiterate with smart phone!

Don't ask me why! Just re-read what you just wrote!

Do you think kidnappers/terrorists are still dumb like you? (Keeping money in a Ghana must go?) Hahahahahahah!

You just made a fool of yourself Mahn!

Kids everywhere!
...

care4you:
iLegendd you're just an illiterate with smart phone!

Don't ask me why! Just re-read what you just wrote!

Do you think kidnappers/terrorists are still dumb like you? (Keeping money in a Ghana must go?) Hahahahahahah!

You just made a fool of yourself Mahn!

Kids everywhere!
...

I know. Rest.

SolidWind:
I don't mean to insult you. You are ignorant of the situation in Nigeria. Some western countries redesign their currency every 9 years to curb money laundering. Goggle it. But this is not what your CBN is trying to do now. Though your CBN will fool you by claiming to fight money laundering. Ask yourself why CBN never tried this until now. Also watch out for when next CBN will redesign the currency again. This move by CBN is purely political. It is an attempt to weaken one cabal and favour another cabal in the upcoming election.

First of all, you speak about kidnappers. Boko terrorists are the major kidnappers in Nigeria and they get the major ransom paid in Nigeria. The terrorists get whatever they want. The redesign of the currency is not targeted at the terrorists. Government itself pays the terrorists ransom. Just look at your logic. Between giving terrorists the currency and trying to stop them from spending the currency they have, which one is easier for the government to achieve? The government that has on many occasions given the currency to the terrorists? Terrorists that can easily highjack another set of train passengers just to ask the government to change old Naira notes for the terrorists? You are far from the reality in Nigeria.

Talking about politicians hoarding cash, it is a matter of time for the politicians to get enough of the new notes. Printing new notes makes no difference when the financial policy is unchanged.

See yourself. This is how people like you claimed that BVN, NIN and SIM card registration are targeted at terrorists and money launders. But terrorism became worse and money laundry cases began to increase after Nigeria embraced the NIN, BVN and SIM card registration.

Talking about e-Naira and cashless economy, how does redesigning the Naira note aid these two things? Does the new design have chips to aid e-Naira? Must the CBN redesign Naira notes (physical cash or hard currency) before the CBN can make policies that will encourage e-Naira and cashless economy? You are not logical here at all.

Wetin you wan make government do now?

Changing notes is not the problem of Nigeria

I read an article that said something similar about criminals losing their ill gotten money due to the redesign.

iLegendd:
CBN: What People Don't Know About the New Naira.

I noticed everyone is complaining about the new notes and it's irrelevance at the moment. That is expected, but I like the fact that no matter how many million times you complain, they'll still do it.

Does the new money have economic value? No. It doesn't, but it has a control value from criminals.

Your complaint can't stop them (the government) and I have vowed never to waste my energy complaining but find out reasons to agree with the CBN.

The main reason for rebranding will never be exposed to the public. Only those who dig deeper will know.

FOUR REASONS FOR THE NAIRA REDESIGN

1. Security: A lot of kidnappers and politicians have bags (Ghana must go bags) of the old notes at their disposal and the government wants to push these people to come out of their closets and head to the bank to exchange these money and from there, they'll be caught. Also, these criminals won't go to the bank — they'll send people and these people will be questioned and if they don't bribe the bankers, they'll be caught.

2. Cleanliness: Some of these old monies are bacteria carriers.

3. e-Naira growth: After this process, the government will put a huge tax on anyone withdrawing up to 1 million Naira. The money you'll pay as tax for withdrawing 1 million Naira will be almost 1 million Naira too. Imagine paying 1 million Naira just to withdraw 1 million Naira? Will you do that? No. Since most people won't do this, kidnappers will mostly reduce their price or they'll start using digital means of receiving payment and they can be easily caught even if it's via crypto.

4. Cashless economy: Just as above, Nigeria will focus more on cashless economy and this will help in curbing crime, bullion vans moving money from bank to banks and getting attacked by armed robbers in the process.

Unfortunately, Internet crime will increase. Some people's e-Naira accounts will be hacked, but the good news is, they'll find out where the money was sent to. So, they'll still get caught.

In summary, what the CBN is doing is good even though it doesn't increase the value of the Naira. At least, it will increase the security of the Naira and curb money abuse and financial crime.

Lolz @ no2
The new notes will be bacteria carrier in less than 24hrs after production

iLegendd:
The idiot is universal. Just try your best not to be among them. We Nigerians love to complain too much and that was why I decided to offend those people. Dem too complain. At least, let me hurt their feelings a little.

why can't you you take a simple correction?

care4you:
iLegendd you're just an illiterate with smart phone!

Don't ask me why! Just re-read what you just wrote!

Do you think kidnappers/terrorists are still dumb like you? (Keeping money in a Ghana must go?) Hahahahahahah!

You just made a fool of yourself Mahn!

Kids everywhere!
...

hhhhhh an illiterate indeed, he's always feels he knows it all

oxiide22:
why can't you you take a simple correction?

I blocked someone on WhatsApp begging for money. I knew it was probably you. Whenever we block any of your numbers, you always come online to cry.

Last year, I sent you 5k to stop stalking and quoting me and you agreed before I sent you the money and recharge card.

Why is it so hard for you to keep your side of the deal? I'm not gay for my fellow man to be licking my ass everywhere I go.

Blocked you on WhatsApp and you ran to Telegram to message me. What is wrong with you? I select who comes close to me and you're not worth being close to me.

I'm not among the people who brought you into this world to suffer. Take your frustrations to them. Abi, you need another 5k and recharge card?

iLegendd:


I blocked someone on WhatsApp begging for money. I knew it was probably you. Whenever we block any of your numbers, you always come online to cry.

Last year, I sent you 5k to stop stalking and quoting me and you agreed before I sent you the money and recharge card.

Why is it so hard for you to keep your side of the deal? I'm not gay for my fellow man to be licking my ass everywhere I go.

Blocked you on WhatsApp and you ran to Telegram to message me. What is wrong with you?

I'm not among the people who brought you into this world to suffer. Take your frustrations to them. Abi, you need another 5k and recharge card?

yeah I need but I don't beg

oxiide22:
yeah I need but I don't beg

I won't give you because you won't keep your side of the deal. Keep quoting me and I'll keep ignoring you.

I may deactivate soon or leave Nairaland for you — lemme see who you'll stalk.

iLegendd:
I won't give you because you won't keep your side of the deal. Keep quoting me and I'll keep ignoring you.

I may deactivate soon or leave Nairaland for you — lemme see who you'll stalk.

you see what pains me is that you delisted me from your 3k access bank group without any offence n I opened the the account just to benefit from that hustle you promise us that we can do once in a month I spent 5k to opened the account but U later dumb me. N U once promise me if you start for Gtbank you will put me there but U didn't U always accuse me. I swear I keep promise n I'll keep my promise never to insult you again since we're not foes

iLegendd:
I won't give you because you won't keep your side of the deal. Keep quoting me and I'll keep ignoring you.

I may deactivate soon or leave Nairaland for you — lemme see who you'll stalk.

[quote author=iLegendd post=118146545] you see what pains me is that you delisted me from your 3k access bank group without any offence n I opened the the account just to benefit from that hustle you promise us that we can do once in a month I spent 5k to opened the account but U later dumb me. N U once promise me if you start for Gtbank you will put me there but U didn't U always accuse me. I swear I keep promise n I'll keep my promise never to insult you again since we're not foes

iLegendd:


I blocked someone on WhatsApp begging for money. I knew it was probably you. Whenever we block any of your numbers, you always come online to cry.

Last year, I sent you 5k to stop stalking and quoting me and you agreed before I sent you the money and recharge card.

Why is it so hard for you to keep your side of the deal? I'm not gay for my fellow man to be licking my ass everywhere I go.

Blocked you on WhatsApp and you ran to Telegram to message me. What is wrong with you? I select who comes close to me and not worth being close to me.

I'm not among the people who brought you into this world to suffer. Take your frustrations to them. Abi, you need another 5k and recharge card?

yes is me that you blocked but I don't see the reason you do that last year U also blocked me n removed me from your group it pains me so much I talked to you in telegram U never respond y?

iLegendd:
I won't give you because you won't keep your side of the deal. Keep quoting me and I'll keep ignoring you.

I may deactivate soon or leave Nairaland for you — lemme see who you'll stalk.

I swear to God I'll keep my promise ilegendd

iLegendd:


I blocked someone on WhatsApp begging for money. I knew it was probably you. Whenever we block any of your numbers, you always come online to cry.

Last year, I sent you 5k to stop stalking and quoting me and you agreed before I sent you the money and recharge card.

Why is it so hard for you to keep your side of the deal? I'm not gay for my fellow man to be licking my ass everywhere I go.

Blocked you on WhatsApp and you ran to Telegram to message me. What is wrong with you? I select who comes close to me and not worth being close to me.

I'm not among the people who brought you into this world to suffer. Take your frustrations to them. Abi, you need another 5k and recharge card?

yes I need it because I used my hard earned money to opened an account with access bank get an ATM card but U deselected me n blocked. But is not that I renege or broke the deal we made last year I swear I'll keep my promise never to talk down on your post anywhere on this forum

iLegendd:
I won't give you because you won't keep your side of the deal. Keep quoting me and I'll keep ignoring you.

I may deactivate soon or leave Nairaland for you — lemme see who you'll stalk.

you won't give because crypto has eaten up all your money you're broke n pained right now n I'm happy since you are stingy n proud always show off wat U eat, watch, etc. But if you give me I'll leave you alone I swear to keep my promise even fight for you

iLegendd:


I blocked someone on WhatsApp begging for money. I knew it was probably you. Whenever we block any of your numbers, you always come online to cry.

Last year, I sent you 5k to stop stalking and quoting me and you agreed before I sent you the money and recharge card.

Why is it so hard for you to keep your side of the deal? I'm not gay for my fellow man to be licking my ass everywhere I go.

Blocked you on WhatsApp and you ran to Telegram to message me. What is wrong with you? I select who comes close to me and not worth being close to me.

I'm not among the people who brought you into this world to suffer. Take your frustrations to them. Abi, you need another 5k and recharge card?

your hypocrisy n stingyness won't allow you to send 5k n recharge card to a guy but if female you'll lose your mind running after her simping like madman just because of toto you can spend your last Kobo to impress vagina ppl hisss!

iLegendd:
I won't give you because you won't keep your side of the deal. Keep quoting me and I'll keep ignoring you.

I may deactivate soon or leave Nairaland for you — lemme see who you'll stalk.

I swear I'll pepper you till you leave this forum like I force you to deactivate the other account U opened

oxiide22:
uwarka ilegendd

You're disgracing your region. You're Hausa, a great region for that matter.

The region that took more than 80% of our Niger Delta oil. The region, along side Fulani, that has up to 80% people in government and in important positions.

The region Jonathan and Buhari spent up to 80% of Nigeria's wealth developing. The region that produces up to 80% of food consumed in Nigeria.

The region that dominates currency exchange and many more sectors except entertainment. You're not supposed to be broke with 80% of everything in your favor.

You're begging someone who has helped you in the past for money, yet you're cussing the person's mom. How do you expect such a person to forgive you?

The reasons you're miserable and will continue to be are

1. You don't pray for God's direction when you wake and when you're about to go to bed
2. You don't exercise — your body is dull and you're lazy — your brain's synapses are not connecting
3. You don't have a solution to a problem that you can package and sell to the world online or offline
4. You're always online looking for who to abuse instead of learning a skill with the help of the Internet

I feel sorry for you.

A man with 80% advantage to wealth yet broke can never make it by dragging 20% of his neighbor's wealth.

I wanted to send you 5k, but ended up using it to buy Hollandia yoghurt, shawarma, and a couple of things. Man must wak, haters must cry.

Suffer never even hit you. Global recession is coming and everything will be extremely expensive. You better go back to farming as Buhari said.

iLegendd:
You're disgracing your region. You're Hausa, a great region for that matter.

The region that took more than 80% of our Niger Delta oil. The region, along side Fulani, that has up to 80% people in government and in important positions.

The region Jonathan and Buhari spent up to 80% of Nigeria's wealth developing. The region that produces up to 80% of food consumed in Nigeria.

The region that dominates currency exchange and many more sectors except entertainment. You're not supposed to be broke with 80% of everything in your favor.

You're begging someone who has helped you in the past for money, yet you're cussing the person's mom. How do you expect such a person to forgive you?

The reasons you're miserable and will continue to be are

1. You don't pray for God's direction when you wake and when you're about to go to bed
2. You don't exercise — your body is dull and you're lazy — your brain's synapses are not connecting
3. You don't have a solution to a problem that you can package and sell to the world online or offline
4. You're always online looking for who to abuse instead of learning a skill with the help of the Internet

I feel sorry for you.

A man with 80% advantage to wealth yet broke can never make it by dragging 20% of his neighbor's wealth.

I wanted to send you 5k, but ended up using it to buy Hollandia yoghurt, shawarma, and a couple of things. Man must wak, haters must cry.

Suffer never even hit you. Global recession is coming and everything will be extremely expensive. You better go back to farming as Buhari said.

I swear you never meant to give me in the first place, i know you won't the moment you said you won't you think I won't keep the promise even though I assured you that I will keep my promise. You're d1 always
creating unnecessary enemies for yourself in this forum with your words

You see there are poor in America, UK, Canada n Germany so is not a big deal Even if you think we own this country as you always claimed. Niger Deltans are the most lazy ppl always shouting our oil! our oil! But they can't work or even got to school.


I want to start POS business in our school long ago but na capital hold am. Is it my fault because I was born a poor or do you want me to kill myself just to make it in life?

iLegendd:


I blocked someone on WhatsApp begging for money. I knew it was probably you. Whenever we block any of your numbers, you always come online to cry.

Last year, I sent you 5k to stop stalking and quoting me and you agreed before I sent you the money and recharge card.

Why is it so hard for you to keep your side of the deal? I'm not gay for my fellow man to be licking my ass everywhere I go.

Blocked you on WhatsApp and you ran to Telegram to message me. What is wrong with you? I select who comes close to me and you're not worth being close to me.

I'm not among the people who brought you into this world to suffer. Take your frustrations to them. Abi, you need another 5k and recharge card?

you're suffering from inferiority complex due to your introvertic nature. You can't do without nairaland forum I dare you to deactivate or leave this forum. But you can't I swear you can't leave or deactivate your account in this forum.

SolidWind:
I don't mean to insult you. You are ignorant of the situation in Nigeria. Some western countries redesign their currency every 9 years to curb money laundering. Goggle it. But this is not what your CBN is trying to do now. Though your CBN will fool you by claiming to fight money laundering. Ask yourself why CBN never tried this until now. Also watch out for when next CBN will redesign the currency again. This move by CBN is purely political. It is an attempt to weaken one cabal and favour another cabal in the upcoming election.

First of all, you speak about kidnappers. Boko terrorists are the major kidnappers in Nigeria and they get the major ransom paid in Nigeria. The terrorists get whatever they want. The redesign of the currency is not targeted at the terrorists. Government itself pays the terrorists ransom. Just look at your logic. Between giving terrorists the currency and trying to stop them from spending the currency they have, which one is easier for the government to achieve? The government that has on many occasions given the currency to the terrorists? Terrorists that can easily highjack another set of train passengers just to ask the government to change old Naira notes for the terrorists? You are far from the reality in Nigeria.

Talking about politicians hoarding cash, it is a matter of time for the politicians to get enough of the new notes. Printing new notes makes no difference when the financial policy is unchanged.

See yourself. This is how people like you claimed that BVN, NIN and SIM card registration are targeted at terrorists and money launders. But terrorism became worse and money laundry cases began to increase after Nigeria embraced the NIN, BVN and SIM card registration.

Talking about e-Naira and cashless economy, how does redesigning the Naira note aid these two things? Does the new design have chips to aid e-Naira? Must the CBN redesign Naira notes (physical cash or hard currency) before the CBN can make policies that will encourage e-Naira and cashless economy? You are not logical here at all.

Read this https://www.nairaland.com/7467704/cbn-drops-atm-withdrawal-limit#118950633

blacksam01:
@ OP what will happen yo the over 1000,000 POs operators...?

will dey b phased out..?

Read https://www.nairaland.com/7467704/cbn-drops-atm-withdrawal-limit#118950633