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Nairaland Forum / Nairaland / General / Business / Old, New Naira Notes Remain Legal Tender – CBN (8211 Views)
Old, New Naira Notes Remain Legal Tender – CBN / Naira Redesign: Old, New Notes Are Legal Tender – CBN Reveals / FG Bows To Will Of The Supreme Court: Old Naira Notes Remain Legal Tender - FFK (2) (3) (4)
Re: Old, New Naira Notes Remain Legal Tender – CBN by Goldbw122(m): 7:27am On Nov 09, 2023 |
We are ready for anything that want to happen at least the worst, we are prepared for it.. |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Newborn27(f): 7:38am On Nov 09, 2023 |
I'm so sorry if my question sounds stupid....I do wonder why the news always say Nigeria is borrowing or owing a huge amount of money ....why can't they just print the money in excess to clear the debts or make the budgets? |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Ijaya123: 7:42am On Nov 09, 2023 |
Brendaniel: Quit this arrogant display of arrogance. You just typed a whole lot of nonsense on a subject you’re not knowledgeable about. Let me help your ignorance a bit. The naira has not been devalued by the current CBN governor as you erroneously stated. The naira has only been floated which will allow the naira to find its true value due to market forces. What previous administrations have been doing was to spend about $20 billion annually to defend the naira and it appears like the currency is strong but the economy is weak. Like an urgly lady always wearing makeup to appear beautiful but will that ever make her beautiful? NO. Using our Foreign Reserves to defend the naira as been done before was simply subsidising imports as people can get dollar cheaply and simply import whatever items they want, toothpicks, matches, toilet papers and whatever. This will never allow or encourage local manufacturers to survive as they are competing with cheap imports gotten from subsidised dollars. Guess why companies keep folding up and closes down? Now imports will not be cheap again as local production will now be encouraged though that will not happen in one month. There’s no way you have been doing the wrong thing for about 40 years and you expect benefits of the change to happen in a few month. It doesn’t work that way. Lastly, to help the naira regain value, patronising only items that has local alternatives compared to foreign ones is the way to go. Peace. 1 Like |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Kilometres: 7:50am On Nov 09, 2023 |
Brendaniel: Your boldened statement says a lot about you. A mew CBN governor that has not spent up to 3months, you are comparing him with someone that spent 10yrs? Your IQ is lower than that of a toad 2 Likes |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Moutine(m): 8:26am On Nov 09, 2023 |
Okay .. o.. dx fuel price is too high oo .. pls find something to do about it... |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Brendaniel: 8:29am On Nov 09, 2023 |
Ijaya123: Oga shut up, you just wrote nonsense, so if the naira is being floated and you claim it is good for the economy, then why are local manufacturers you claim were being killed by the pumping of 20 billion dollars annually closing up in droves with your solution of floating, don't you you see that you are countering your self. On the hand you claimed that patronizing locally made goods will help the naira, please I have a question to ask you. 1. Please can you provide local alternative for me as a Nigerian now for television, phones, hard disks, flash drives,memory cards, chips, IC's, generators, industrial machines and so on, I can go on and on, if you can't then shut up or go and start manufacturing them yourself for me. I know you will want to say that people should go and start manufacturing them, Oga why haven't you started or you think people don't want to, look as long as the government does not put things in place to encourage manufacturers then it might not be easy for manufacturing companied to thrive,. You guys just come out to talk anyhow, why do you think even phones like Iphone, infinix tecno which are indigenous companied to their respective countries still produce from China, because it is cheaper, so even if the government still puts things in place it is still not a guaranty that you will produce everything you need in your country. Not even China does that, that still brings me back to your analysis that people should patronize goods only made in Nigeria, so we should punish ourselves because we want to make our currency strong, see talk Now... It is just like bringing in rice from Thailand that is cheaper than ofada rice and I have 5 children to feed so I tell my children that I want to make our currency strong so they might to starve some times because I want to avoid buying Thailand imported rice. You can see how all your analysis are so flawed at this present time. Thirdly you talked about the inflow of 20 billion dollars annually, the questions you should have been asking is who were the receivers of these monies, where were they been channeled to, the people receiving it were people in government and cronies of people in government not the citizens, they turned it to huge business, People round tripping the money and then you did not talk about the massive looting that were being done in dollars, that one was among the worst because the money most times were either idle and hidden in houses by politicians or either exported out of the country which did not help the country one bit. Any dollar loot you hear stolen was not fx profit made from America, it was fx profit made from Nigeria that should have gone into productive use in Nigeria to generate more FX but the money had gone without being profuctive and this happened a lot for more than 8 years and is still happening more even now. And you expect the naira to gain value. Look let's not deceive ourselves. Tinubu had not tackled the problem of the FX, recently he went to inject billions of dollars into the system same thing you accused Emefiele of and I was just laughing when people said the naira was gaining I knew It will fall back, do you know why? More FX into the system is not the only solution needed, before you try to get more FX into the system you have to tackle the corruption in the FX system which Tinubu has not done and is not ready to do, It is like pouring water into a leaking bucket, if you pour water slowly the bucket might never fill up but if you pour water fast into it the bucket might get filled but after a while get empty again because you have not blocked the leaking holes, till you block the leaking holes the bucket will not get filled whether you pour it slow or fast. But the moment you block it the bucket will get filled whether you pour it slow or fast, the time might only differ depending on the amount of water you are pouring into the bucket. The bucket hole is corruption, get it taken care of first. |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Brendaniel: 8:33am On Nov 09, 2023 |
Kilometres: A CBN governor that has not spent 3 months that has performed worse than someone who spent 9 years not 10 years... I think you are reffering to yourself... |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Ijaya123: 8:39am On Nov 09, 2023 |
Brendaniel: Don’t read to respond. Read to understand. Now go back and read more slowly, without emotion. 1 Like |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Brendaniel: 8:54am On Nov 09, 2023 |
Ijaya123: Oga shut up, counter me with facts as I have done, you guys keep churning out nonsense analysis championed by the people you support and look where the country is and is still going, to still prove my points go to front page or read it here, the naira has started falling back and might keep falling, you guys keep supporting rubbish because of tribe, religious or party affiliation, Sometimes I feel so ashamed sharing country with people like you.... https://www.nairaland.com/7905233/naira-shrinks-n1135-parallel-market 1 Like 1 Share |
Re: Old, New Naira Notes Remain Legal Tender – CBN by RichAbujaGuy: 9:17am On Nov 09, 2023 |
tuoyoojo: Emefiele was probably selling the new notes to forex traders for a side hustle profit. Grand scale 419. 🤫 You notice he didn't carry a holy book around with him since he had that job all those years? 1 Like
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Re: Old, New Naira Notes Remain Legal Tender – CBN by Efilse: 9:40am On Nov 09, 2023 |
GET ANY BOOK OF ANY AUTHOR FOR HALF THE PRICE SEND A MESSAGE ON WHATSAPP 08174686962 |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Successlane: 9:48am On Nov 09, 2023 |
So Emefiele, just wasted our scarce resources, punished the already suffering masses all in attempt to sabotage BAT. |
Re: Old, New Naira Notes Remain Legal Tender – CBN by skywalker240(m): 10:01am On Nov 09, 2023 |
Scam government The previous and present |
Re: Old, New Naira Notes Remain Legal Tender – CBN by tuoyoojo(m): 11:33am On Nov 09, 2023 |
RichAbujaGuy: These crooks are good at playing to the gallery. I was repulsed when I saw him carrying a big bible. I am happy that Nigerians didn't buy that stunt. When it comes to corruption everyone is united but when it comes to its repercussions, u would start seeing them acting up Tell u what, after this saga, he would receive a hero's welcome in him hometown. That's Nigeria for you |
Re: Old, New Naira Notes Remain Legal Tender – CBN by commoditiesnig: 12:54pm On Nov 09, 2023 |
Good reassurance |
Re: Old, New Naira Notes Remain Legal Tender – CBN by Codes151(m): 2:31pm On Nov 09, 2023 |
BUHARI AND HIS STUPIDY... every thing the hegoat did was rubbish |
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