femisplash:
Supreme Court will give judgement on the 22nd and most likely retain the legality of ALL old naira notes. No need for panick depositing.

Jashub:
Let Tinubu go and deposit his old notes . We are waiting to see the outcome

charlsecy:
I have been trying to fill the form; the account number authentication is not working.

Pierced:


Hello
Pls......how did u get your account number validated?

Mine keeps saying failed validation.

LadyTara:
Use the account number of the bank you used for BVN registration.

LadyTara:
So this morning I decided to try and deposit my old notes. I went cbn.gov.ng ,filled the cash deposit form ,went to the cafe to print it out and took it to cbn branch . On getting there I met other Nigerians who were already waiting for the cash swap program to commence . After hours of waiting ,some men came out and told people that had already added 200 naira notes to the form they filled online to remove it from the cash they want to deposit as they(cbn branch) just received a circular not to accept 200 naira notes as it was still legal tender.

Note: The form below will be given to you at cbn,while you must have your online print out and photocopy of a valid means of identification.

Pierced:


The account number was validated.....but I was not able to submit.....it kept on saying request failed.

I will go to the bank today......to see if it's possible to generate it manually.

BluntCrazeMan:




See what I am getting..


How do I proceed.??

einsteine:


This window expires tomorrow evening

Siwisheswereesh:


Piiggiiddiioott amaka

seborrhic:

O boy,we should try using our sense atimes.
Where is he going to see ₦200m new naira notes to distribute freely.
No matter what people may say,from what CBN did,restricting amount they give the banks,it's extremely difficult for people to stock up on the new cash in substantial amounts.Unless he prints his own currency.
Though I believe the CBN policy is poorly timed, because it's the masses that are still bearing the brunt,but the reason some politicians are crying is not because of any love they have for the masses,but that it has scattered their election plans.

Aurelius1:
What of those who live in towns where there is no CBN branch? What's gonna be their fate?

lexy2014:


is this about tinubu or is this about the welfare of nigerians?

LadyTara:
Its CBN site then. I doubt you can fill it at the bank though, give update on how it went at the bank.

Akwaokukuo:

You mean exchange of old #500 and old #1000 notes ends tomorrow evening?

einsteine:


Yes.

Pierced:


No deposit of any form going on at CBN.... I av been there since 8 am.

They said without the code.......no deposit.

Akwaokukuo:

https://www.vanguardngr.com/2023/02/breaking-cbn-orders-banks-to-collect-old-n500-n1000-notes/

Jashub:
It's about Tinubu holding the welfare of Nigerians

lexy2014:


kindly explain how?

Jashub:
Go and check his bullion van

NothingDoMe:
The Supreme Court cannot determine legal tender. The Supreme Court can only ensure that the CBN continues to receive old notes according to the law.

Note also that the law does not specify how the CBN may continue to retrieve the old notes. They may decide to receive the old notes for 4 years if they like. Meaning they can give you an appointment to come and deposit in 2027.

lexy2014:


did you check his bullion van before you made this claim:

"It's about Tinubu holding the welfare of Nigerians"

kindly explain the above

Jashub:
Shut up. What about the bullion van is money(welfare) ? Wasn't that meant for Nigerians... isn't it part of the looted funds he and his colleagues acquire ? Till date Tinubu can't tell us how he made his humongous wealth. But in case you've forgotten, the Meridian scandal is still there ...hope you know

lexy2014:


did you check his bullion van before you made this claim:

"It's about Tinubu holding the welfare of Nigerians"

kindly explain the above

lexy2014:


if you say that "the Supreme Court cannot determine legal tender", how then can The same Supreme Court "ensure that the CBN continues to receive old notes according to the law"? which law gives it that power to "ensure that the CBN continues to receive old notes according to the law"?

Jashub:
It's too early for stupidity please. If you can't understand what I've written then that's your own problem

NothingDoMe:
The CBN Act. Let's tackle them one after the other:

17. The Bank shall have the sole right of issuing currency notes and coins throughout Nigeria and neither the Federal Government nor any State Government, Local Government, other person or authority shall issue currency notes, bank notes or coins or any documents or tokens payable to bearer on demand being document or token which are likely to pass as legal tender.

No government, other person, or Authority has the power to determine legal tender in Nigeria. The Supreme Court falls under the "Authority" category.

20. (1) The currency notes issued by the Bank shall be legal tender at their face value for the payment of any amount..in Nigeria E C

(2) The coins issued by the Bank shall, if such coins have not been tampered with, be legal tender in Nigeria at their face value up to such amount or amounts as may be determined, from time to time, by the Bank

Again you see that the bank are the only authorized authority to issue legal tender and change it at will. However the last part of this section contains the conditions:

(3) 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.

Only the president can approve of the naira redesign. Not just approve, but direct that the redesign be implemented.

This last part answers your question about the Supreme courts role in enforcing the collection of old notes. The Supreme Court will simply enforce this part of the CBN Act.

But like I said earlier, they cannot force logistics. Especially since the CBN says they've destroyed the old notes already and the machines are bad.

To force logistics, the governors have to go back to the Supreme court after giving a reasonable amount of time. By that time elections will be over.

lexy2014:


Let's try again.

did you check his bullion van before you made this claim:

"It's about Tinubu holding the welfare of Nigerians"

Jashub:
Let's do this again...only this time let's use picture evidence


Please why is a bullion van coming out of his house two days before the election? And how did Tinubu get this money...how did he earn it ? Because prior to him becoming governor of Lagos he didn't have this much not to talk of a bullion van. So answer how did he accumulate such wealth in a short a period .

Secondly , how did Tinubu make his wealth as an accountant? Because the last time we check , an accountant's salary $136k a year and that's for experienced accountants in developed countries working with firms like Black Rock.


So please where did those billions come from if not from the nation's treasury ?

lexy2014:


did you check his bullion van before you made this claim:

"It's about Tinubu holding the welfare of Nigerians"

Simple yes or no