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Banks Will Accept Old Naira Notes After Deadline - Emefiele - Business (9) - Nairaland

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New Naira Policy: Do People Still Accept Old Naira Notes In Your Area? / Supreme Court Temporarily Halts Banning Of Old Naira Notes / Old Banknotes Redeemable Only At CBN After Deadline - Emefiele (2) (3) (4)

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Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by namo77: 4:41pm On Jan 31, 2023
A confused country

Pls vote wisely, let’s avoid another 4years of confusion
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Segzy19: 4:44pm On Jan 31, 2023
Meffy dey take us catch cruise and play politics.

I don't why Buhari retained him. He should have been fired the moment he paid for APc primaries nomination form... That shows he was political as a serving CBN governor... Is it not glaring now
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by kaeycea(m): 4:50pm On Jan 31, 2023
Parachoko:


Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp


If toh say you carefully read the article the OP posted and understand, you wont be disgracing yourself right now.
Stop foaming in your mouth Dimwit..
Emefiele has dealt with that issue after meeting with Buhari in Aso villa after which he made press conference..
There's no indefinite time-line for the return of the old note.
I know that's what urchins like you are craving for.
He had already stated 17th Feb as the deadline.
Go and watch the video of the press conference and cure yourself this sickening ignorance
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 4:52pm On Jan 31, 2023
baralatie:
Meanwhile presidential election is 25th of February 2023


Yes!

The old notes can still be deposited at the banks after February 25 2023.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by eedimo(m): 4:52pm On Jan 31, 2023
I give up on this country
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 4:53pm On Jan 31, 2023
kaeycea:

Stop foaming in your mouth Dimwit..
Emefiele has dealt with that issue after meeting with Buhari in Aso villa after which he made press conference..
There's no indefinite time-line for the return of the old note.
I know that's what urchins like you are craving for.
He had already stated 17th Feb as the deadline.
Go and watch the video of the press conference and cure yourself this sickening ignorance
You're the dumbest slowpoke on Nairaland

1 Like 1 Share

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by kaeycea(m): 4:54pm On Jan 31, 2023
Parachoko:
You're the dumbest slowpoke on Nairaland
Urchin will ever remain an urchin..mumu
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 4:55pm On Jan 31, 2023
Sheyhunn:
Emefiele don bow to political pressure...
He can't go against Nigerian law
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 4:56pm On Jan 31, 2023
kaeycea:

Urchin will ever remain an urchin..mumu
I know you're an Obi supporter

Nah una dey dull like this grin

2 Likes

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 4:57pm On Jan 31, 2023
Parachoko:
Yes!

The old notes can still be deposited at the banks after February 25 2023.


Where are you people getting this info from,

Governor of CBN said 17th is the deadline for commercial banks to accept it, so why will the commercial banks accept it after 17th of February...
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 4:59pm On Jan 31, 2023
Omoapena:



Where are you people getting this info from,

Governor of CBN said 17th is the deadline for commercial banks to accept it, so why will the commercial banks accept it after 17th of February...


Make sure you read and understand before quoting me please.

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp



Everything dey bold and clear
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by kaeycea(m): 5:01pm On Jan 31, 2023
Parachoko:
I know you're an Obi supporter

Nah una dey dull like this grin
I know you're Tilumbu supporter.. Tilumbu is probably somewhere sleeping or making another gaffe while you're on nairaland embarrassing your village people.
Brainless Nematode
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 5:02pm On Jan 31, 2023
kaeycea:

I know you're Tilumbu supporter.. Tilumbu is probably somewhere sleeping or making another gaffe while you're on nairaland embarrassing your village people.
Brainless Nematode
Obi won't even have up to 500k voted
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 5:06pm On Jan 31, 2023
Parachoko:




Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp


Make sure you read and understand before you think of quoting me please.

Everything dey bold and clear

Layman explanation:

It's said general public are advisable to take their old notes to the bank after 10th of February of which commercial banks are allowed to accept the old notes till 17th of February then the commercial banks should stop accepting after 17th, but the commercial banks are given access to bring all the old notes they collected before the 17th of February to the Apex (CBN) bank after the 17th of February...

So basically, commercial banks will receive money from public till that 17th and any individual that have old notes and want to exchange it can go directly to the apex bank to do so...

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by kaeycea(m): 5:06pm On Jan 31, 2023
Parachoko:
Obi won't even have up to 500k voted
There wouldn't be any bullion van for Tilumbu.. online thugs like you can keep screaming Emefiele here and there..
Aso rock is not a retirement home for your Drug lord
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by dyera(m): 5:08pm On Jan 31, 2023
UnfairLife7:
the purpose has been defeated

Politicians will buy votes like water 😀

Buhari, Emefiele lost the battle with criminal politicians and corrupt Nigerians. As I speak ATM at the two banks UBA and First bank close to my house were still dispensing old N1,000 notes. And POS and other holders are selling a single N1,000 note for N200. With the current pace at which people get the new notes, If banks stop accepting old note by February 10, the citizens will suffer enormous lose and there will be riot across the country.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 5:09pm On Jan 31, 2023
Omoapena:


Layman explanation:

It's said general public are advisable to take their old notes to the bank after 10th of February of which commercial banks are allowed to accept the old notes till 17th of February then the commercial banks should stop accepting after 17th, but the commercial banks are given access to bring all the old notes they collected before the 17th of February to the Apex (CBN) bank after the 17th of February...

So basically, commercial banks will receive money from public till that 17th and any individual that have old notes and want to exchange it can go directly to the apex bank to do so...
Can you paste where you got this your own statement from?

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline.

Emefiele spoke on Tuesday when he appeared at an interactive session with the house of representatives ad hoc committee on the currency redesign and naira swap policy.

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp

I back my own evidence up with my source

I wan know where you dey get your own from
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 5:12pm On Jan 31, 2023
Parachoko:
Can you paste where you got this your own statement from?

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline.

Emefiele spoke on Tuesday when he appeared at an interactive session with the house of representatives ad hoc committee on the currency redesign and naira swap policy.

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp

I back my own evidence up with my source

I wan know where you dey get your own from

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by phineas: 5:13pm On Jan 31, 2023
Omoapena:



This is now getting more confusing,

Is it that commercial banks will start rejecting after 10th of February or they are given till 17th of February to collect it.


I'm only quoting his speech, and it appears commercial banks will stop collecting from the public from the 10th based on the last speech on Sunday. But the CBN will continue to take deposits till the 17th.
Thats a clause everyone should review carefully and ask questions around
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 5:16pm On Jan 31, 2023
[quote author=Omoapena post=120529840][/quote]

We dey talk of wetin the CBN Gov talk this morning, you dey show me something wey happen 2 days ago grin

Look the screenshot wey you screenshot and tell me if nah today news you dey share with me

Some of una eh grin

Nah today news I dey share with you not news of 2 days ago



Banks will continue to accept old naira notes after the deadline has passed, according to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN).

Emefiele stated on Tuesday when he appeared before the house of representatives’ special committee on the redesign of the currency and the naira swap policy.

After the deadline of February 10th, he claimed, the CBN will also accept old naira from banks.

Emefiele referred to the CBN legislation, which requires the top bank to keep taking old notes after they expire.

The CBN governor did not provide a time frame for when banks will stop accepting old notes, though.

Despite subsections (1) and (2) of this section, the CBN act’s section 20 (3) states that the bank has the authority to call in any of its notes or coins upon the president’s direction and after giving reasonable notice in that regard. However, subject to section 22 of the act, any note or coin with respect to which a notice has been given under this subsection ceases to be legal tender upon the expiration of the notice.

Read More>>>>>>>>

https://gistreportar.com/banks-will-accept-old-naira-notes-after-deadline-says-emefiele/
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 5:18pm On Jan 31, 2023
Parachoko:


We dey talk of wetin the CBN Gov talk this morning, you dey show me something wey happen 2 days ago grin

Look the screenshot wey you screenshot and tell me if nah today news you dey share with me

Some of una eh grin

Nah today news I dey share with you not news of 2 days ago



Banks will continue to accept old naira notes after the deadline has passed, according to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN).

Emefiele stated on Tuesday when he appeared before the house of representatives’ special committee on the redesign of the currency and the naira swap policy.

After the deadline of February 10th, he claimed, the CBN will also accept old naira from banks.

Emefiele referred to the CBN legislation, which requires the top bank to keep taking old notes after they expire.

The CBN governor did not provide a time frame for when banks will stop accepting old notes, though.

Despite subsections (1) and (2) of this section, the CBN act’s section 20 (3) states that the bank has the authority to call in any of its notes or coins upon the president’s direction and after giving reasonable notice in that regard. However, subject to section 22 of the act, any note or coin with respect to which a notice has been given under this subsection ceases to be legal tender upon the expiration of the notice.

Read More>>>>>>>>

https://gistreportar.com/banks-will-accept-old-naira-notes-after-deadline-says-emefiele/


Goto instablog and see if its today and 2dayz ago news
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by ViktorCash: 5:19pm On Jan 31, 2023
Smart move. It wil now be easy to track cash of higher denomination. Any customer who comes to deposit cash of 1000,500 or 200 naira denomination will be subject to serious security checks by the EFCC. Smart one💪
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by tabaralph: 5:20pm On Jan 31, 2023
politicoNG:


https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp
The main reasons why the naira is being changed has now been defeated, the politicians will still buy the votes with the old currency and the voters will take the money to the bank for exchange, my permutations might be wrong though but that’s what will likely happen.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 5:20pm On Jan 31, 2023
Parachoko:


We dey talk of wetin the CBN Gov talk this morning, you dey show me something wey happen 2 days ago grin

Look the screenshot wey you screenshot and tell me if nah today news you dey share with me

Some of una eh grin

Nah today news I dey share with you not news of 2 days ago



Banks will continue to accept old naira notes after the deadline has passed, according to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN).

Emefiele stated on Tuesday when he appeared before the house of representatives’ special committee on the redesign of the currency and the naira swap policy.

After the deadline of February 10th, he claimed, the CBN will also accept old naira from banks.

Emefiele referred to the CBN legislation, which requires the top bank to keep taking old notes after they expire.

The CBN governor did not provide a time frame for when banks will stop accepting old notes, though.

Despite subsections (1) and (2) of this section, the CBN act’s section 20 (3) states that the bank has the authority to call in any of its notes or coins upon the president’s direction and after giving reasonable notice in that regard. However, subject to section 22 of the act, any note or coin with respect to which a notice has been given under this subsection ceases to be legal tender upon the expiration of the notice.

Read More>>>>>>>>

https://gistreportar.com/banks-will-accept-old-naira-notes-after-deadline-says-emefiele/

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 5:21pm On Jan 31, 2023
Omoapena:


Goto instablog and see if its today and 2dayz ago news
Mr Man are you just arguing for arguing sake?

You sef look the screenshot you sent to me, nah you send screenshot, yet you dey argue blindly.

There's a law that states the banks must keep on accepting the old notes 6 months after the deadline.

Is so silly for you to even be arguing wetin you dey use your eyes see

Even the title of this thread alone should make you stop arguing like a pikin

Banks will accept old notes after deadline -Emefiele
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by tabaralph: 5:22pm On Jan 31, 2023
ViktorCash:
Smart move. It wil now be easy to track cash of higher denomination. Any customer who comes to deposit cash of 1000,500 or 200 naira denomination will be subject to serious security checks by the EFCC. Smart one💪

Those politicians and other crooks are smarter than this, they will still circumvent the system
..
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by ViktorCash: 5:22pm On Jan 31, 2023
I think security checks by the EFCC will be involved now. They have already told banks to start paying cash in 100,50,20,10 and 5 naira denomination. Anybody who comes to deposit with higher denomination will be questioned.
tabaralph:

The main reasons why the naira is being changed has now been defeated, the politicians will still buy the votes with the old currency and the voters will take the money to the bank for exchange, my permutations might be wrong though but that’s what will likely happen.

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by seglabsy(m): 5:22pm On Jan 31, 2023
tamdun:

Why won't I accept it if I can just enter any bank and credit my account with it?
It is legal tender until the bank stop accepting it
you are right,in as much as banks keep giving it out either via the counter or the atm ,they MUST accept it,so now tell me when are they going to stop giving it out?
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 5:23pm On Jan 31, 2023
[quote author=Omoapena post=120530015][/quote]Good

This your screenshot don even show I am right and you are wrong

The banks will keep on accepting the old notes after February 10.
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Parachoko: 5:27pm On Jan 31, 2023
ViktorCash:
I think security checks by the EFCC will be involved now. They have already told banks to start paying cash in 100,50,20,10 and 5 naira denomination. Anybody who comes to deposit with higher denomination will be questioned.
Can you show me where you get the bolded from?
Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by seglabsy(m): 5:28pm On Jan 31, 2023
kaeycea:

Stop foaming in your mouth Dimwit..
Emefiele has dealt with that issue after meeting with Buhari in Aso villa after which he made press conference..
There's no indefinite time-line for the return of the old note.
I know that's what urchins like you are craving for.
He had already stated 17th Feb as the deadline.
Go and watch the video of the press conference and cure yourself this sickening ignorance
use ur sense that date is not going to work

1 Like

Re: Banks Will Accept Old Naira Notes After Deadline - Emefiele by Omoapena(m): 5:28pm On Jan 31, 2023
Parachoko:
Good

This your screenshot don even show I am right and you are wrong

The banks will keep on accepting the old notes after February 10.






Did you even read the screenshot at all, he said if you have your money you have not able to send to bank, they, the cbn are mandated to collect it so that means, commercial banks will stop collecting them from public but the apex will still collect them if you have it

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