TrebleChamp:
Carbon, Kuda and Fairmoney have been serving me well for many years, i use Carbon to pay my kids school fees and other petty stuff. Fairmoney is for buying recharge card, Data and i also use the fairsave feature to save money. Kuba and First Bank na my main bank accounts...

Segedinho:

I said ur take about d 100 n 150 using petty sellers as a yardstick is negligible.

The petty traders have nothing at all to worry about if the commodity ranges from 50 to 150 as d amount(20 50 n 100) in circulation remains.

How do you rope a kpuf kpuf an akara and a g/nut seller into d 1000 saga ?

All these are just exaggeration and of negligible impact to d real deal

larride:


I have said it in my response to iz.zou many times and it's pointless to keep repeating it but I will do so again for emphasis sake. It is not really the naira redesign that's the problem, it is CBN implementation of the policy. It's as simple as that.

Yes, CBN said they have been able to mop up 1.9trillion naira but how much in new notes are people able to access? It us easy for you a big mam to deposit your old naira notes in the bank and continue to use transfer and other means to do your transaction, what percentage of the population have that luxury?

Or what do you say about those that deposited their old notes in the bank but when they needed to do cash transactions and up with withdrawing the old naira notes again?

I went to GB Ikorodu today and all their POS machine wasn't working, the stanbic atm right beside them isn't dispensing and the customers that were paying with cash were almost all paying in the old naira notes. I had to make transfer to their union acct and it took them close to 35mins to confirm the transfer. Earlier in the day while I was looking for fuel, i took bike to Itamaga with hope that i would be able to withdraw from pos agent at Itamaga only to get there and most of the pos agent are shouting no cash. The one i later saw that has cash was paying with old notes. I paid the bike man with the old note who in turn gave me change in old note also, I'm sure the bike man will also give someone else the old note when buying or paying for something and there's a big chance that he will get back old note as change also.

All these are happening in Lagos, how imagine how bad it will be in the rural areas where they only have pos agents around or have to go to another LG or the state capital to use the bank there. (That's what happened to me in Ebonyi. Uburu that I was in has no bank, we only have pos agents, to use bank, we have to go to the capital Abakaliki or to Afipko South)

larride:


But your last post before this is that you support Emefiele cashless policy whichever way he wants to go about it.

iamoyindamola:

All these ancient banks way go give me hbp I no they do them
First bank, union bank, uba na those government workers bank

larride:


Yeah because petty traders only sell 50 naira and 100 naira things and they are forbidden from selling anything higher than that.

BlueRayDick:


The problem here is u are expecting the CBN that moped up N1.9trillion out of the streets to push out N1.9trillion of new notes ;

Segedinho:

People just dey talk as if others no dey dsame country....

The only issue I have with d policy is "Yahoo boys" cos they are gonna run so many fake alert.

I believe sensitization about how to know fake alert should be d other of d day..

Segedinho:

There are apps that send u alert o...the only way to know is difference is to check your account balance

seankafor:
so far as I know, no app sends alert.. unless I don't know of it

How d app go take get your number you registered your bank with?

Shaa I no dey discard am, boys dey update on formats these days

CrystalTiger:
“They don’t have a mandate; what they have is ice cream. It has melted. I am the one that rescued him from Obasanjo who wanted to roast him like goat meat,” he said.

“He ran away to Dubai, and when the election came again, he came for stomach infrastructure. He came to Lagos. We rehabilitated him and gave him a ticket but he wasted it and used it to collect money.

“He faced Obasanjo, faced Buhari and failed. He failed with Jonathan. He failed in all his subjects.

“You better watch him before he starts selling the little palm trees that you have left. What we need to do is to develop our country. We have enough gas reservoirs on our land.

“Akwa Ibom, you will not suffer again. That boy [Emmanuel Udom] that brought Atiku here, that calls himself governor, tell him enough is enough. He lived in my backyard in Lagos. If not that we are one, I’d have driven him home.”

BAT na craze man lol

Segedinho:
I don't understand this APC ancestor at all.

What is he driving at with all these I did this and that for so so names.

He said he helped Atiku when obj wanted to roast him?? So what??


He made him senate president Lols.


What is he really driving at....?

BlueRayDick:


1000 naira .

It’s the banks and their staff/management that are part of people sabotaging the whole thing .

It’s just similar to when Ambode took the job of PSP operators and came up with Visionscape. What happened next ? People poured refuse almost everywhere ; in fact the area I was staying back then people will dump refuse everywhere but the visionscape large refuse containers provided at strategic areas .

I believe those bank CEO’s are not in tune with Emefiele’s policy and would not mind to frustrate it if the chance presents itself .

raumdeuter:


Na person wey do something get right to mention it

Let those who he claimed he helped deny it

Segedinho:
I don't understand this APC ancestor at all.

What is he driving at with all these I did this and that for so so names.

He said he helped Atiku when obj wanted to roast him?? So what??


He made him senate president Lols.


What is he really driving at....?

Itsrm:


The summary is emi lo kan

Segedinho:
I know he helped Atiku to be d "Senate president" but of what used is it to voting him in
Like what is d correlation??

izzou:


The bolded is why i see anybody arguing against the policy as either ignorant of the CBN's goals, or just being mischievous

You deposited 1,000,000 of old notes, and you are expecting to have access to 1,000,000 of the same new notes. So what is the essence of the policy in the first place?

Go to any bank with 10 000 of old notes. Ask the cashier to change it for you, and she will give you 100, 50 or 20 naira notes. What is the headache there?

The exaggeration is just too much.

raumdeuter:


When Atiku as a VP was being chased all over by OBJ. It was Tinubu that saved him and stopped the country from falling into a one party state

He is reminding us about the contribution to Atiku personally and to the country political development

Segedinho:

Like.. presidency is a thank you souvenir or what

Segedinho:
Ok...even when he infused Atiku as d Senate president .

Should d Nation use d presidency as a thank you souvenir

Segedinho:

This man is actually d most dull(just have to remove d fooolish and stupid for respect sake)..contestant I have ever seen or witnessed...


Does this even equate d reason he should be voted for

Itsrm:



This is not true at all.

They just don't have the money themselves. ATM o, over the counter o, they don't have new notes to give.

Trust me, if they indeed have and are hoarding it, CBN would have come down hard on them. CBN wasted no time handing out fines of 5m to any bank caught dispensing old notes through their ATM machines.

They deployed their staff to move around ATMs and record videos of any machine still dispensing old notes. That's the extent the CBN is willing to go.

raumdeuter:


Its his contribution to the polity he is recounting. If you do, talk am

Na person wey do dey brag about his achievements

CrystalTiger:


It's looking like BAT believes he should head into AsoRock unopposed..

BlueRayDick:


The problem here is u are expecting the CBN that moped up N1.9trillion out of the streets to push out N1.9trillion of new notes ; unfortunately that's not going to happen. If it happens that way, then the aims and objectives of the naira redesign will be defeated. As at 4 weeks ago the same petty traders u are premising Ur argument on were practically rejecting the new notes ; some of us had to even convince them to accept to no avail.
It's only now they get the memo that the old notes will no longer be legal tender that they decide to start scampering for the new notes.

I also served in a community where was no bank and worse still there weren't POS as at that time. U go to the bank at the local government headquarters, withdraw the cash u will need for the month and head back to Ur community after buying things at the market. We survived then, people we met there have been surviving and people living there in present day are still surviving till date ( I doubt have bank in that community and neighboring communities till date). U see, people in these areas within a day or two working days they will make sacrifice and get their ni ara changed if they want to. I've lived in their midst and know these things ; it's a non issue.

I've mentioned it in the past that CBN ought to have drawn up a formal process of how the cash swap will be implemented especially for people in rural areas. But then I read somewhere that CBN had deployed about 30,000 agents in rural communities with no banks to aid them mop up the cash and make available new notes ( I'm not sure how much cash they would actually be able to access tho)

As regards GB's bank not having network, that's not a new thing. U honestly can't tell me this is the first time u will go to a store and the only means of payment available will be cash simply because their bank is either not having network, their POS down and u have no choice but to get cash across the street to pay for items bought. I've experienced it wella before this whole naira redesign.

Segedinho:

Did he made Atiku the Senate president?

If yes...Tell us how.

raumdeuter:


He made Atiku Presidential candidate under his party AC

Segedinho:

Senate president na another name for presidential contestant