fatymore:
Look at the money. They are too mutilated joor.. Even the one that is abit tear.. People are rejecting them

babe this your grammar give me heart attack... ...na pidgin sure pass o

I can relate to this

I went to AEDC cash office to credit my prepaid meter but the attendant returned two 500naira notes to me saying the bank would reject them. I was furious and as other people on the queue said the money wasn't that bad and that they've been seeing worse.
The lady insisted that she wouldn't accept them, I had to return home and get my token via online portal.

I have spent those notes already else would have shared screen shots

n

SSpeter:
babe this your grammar give me heart attack... ...na pidgin sure pass o

correct me pls

Lots lots and lots of things are going bad in country.The worst is yet to come.

Emefiele ehn


Sack emefiele now. He is the most useless cbn governor ever!

Is well

Good.... Very good.

Now Nigerians will have to learn to respect the currency.

The way some people fold and twist Naira and where there store it is frightening. From shoe to socks to bra to underwear.
Can they fold and twist Dollar or Pound like, NO!
All the Dollar notes I have seen from Nigerians are always straight as if it was ironed and are always in wallets.

blueandbirds:
Tell your friend to give to beggars they will pray for him and he will make new money lol..

Then the beggers will eat the money raw.... That it won't return to bank...... #nigeriansthink

UBA did same thing to me last month. FG should do something about this because the new notes are not in circulation.

Those guys dats sells naira notes @ parties una see wetin una cause. Those rougue bank staffs God go catch una one day

Diamond back told me they no longer collect bad notes for replacing

Mabpaine:
Wetin come be their job if nt 2 collect multilated notes. Na only notes dah dont av @ least 4 of its numbers dah cn be declined

fatymore:
Look at the money. They are too mutilated joor.. Even those one that are torn a little. .People are rejecting them

NIGERIANS IGNORANCE MAKES THEIR GOVERNMENT IMPLEMENT ANY LAW AND U WILL SEE SOMEONE SUPPORTING THEM.....ONES OF THE WORKS OF CENTRAL BANK IS TO COLLECT THOSE TORN MONEY AND REPRINT IT...... AND THE LOCAL BANKS HELPS THEM TO COLLECT IT FROM THE GENERAL PUBLIC..... NOW TOMORROW IF UR GOVERNMENT IMPLEMENT A LAW THAT STOPS YOU FROM GOING TO CHURCH HOPE U SUPPORT IT

What nonsense. They must collect it so far as its not fake

If I am correct, Banks are sanctioned if they have mutilated notes + customer's don't collect them.

If you were in their shoes, what will yo do?

planetuzor:
I don't know where the people managing the fiscal and monetary affairs of this great nation is leading her to....

Yesterday, a colleague who owns a mini supermarket went to deposit some funds in a bank here in Lagos but some of the Note were rejected by the bank for being torn... He inquired why shouldn't a bank which is supposed to serve as a central collection point for this notes to be returned to CBN which in turns prints newer equivalent. But the bank staffs said, they are now being charged a percentage by CBN for MUTILATED Notes hence they don't accept it anymore........

So now how do we change bad notes, since banks and Petrol station will stop collecting it now....I wonder what a country this is...

am facing the same thing here, diamond banks not collating any mutilated note

blueandbirds:
Tell your friend to give to beggars they will pray for him and he will make new money lol..

Wicked people everywhere

ezenwajosh:



Then the beggers will eat the money raw.... That it won't return to bank...... #nigeriansthink

Don't mind those wicked and unempathetic Nigerians

I had a similar experience about 2 weeks ago. Got to the bank to make a deposit. The cashier collected the so called good notes and returned the few mutilated ones to me.

I just told them to return everything to me and went to pay them in another bank.

So true. Last week I was at UBA to pay for a given fee and I was surprised when the cashier rejected torn out cash. Although the excuse she gave was that CBN does not collect worn out cash. She did not specify that a given percentage is being charged by CBN on any worn out cash remitted by commercial Bank.

The same experience occurred at ACCESS Bank.

It's so painful that CBN decided such initiatives without given any notice to it citizens. What a country!

fatymore:
correct me pls

Replace tear with torn.... Have a lovely day.

Senipapa:
Replace tear with torn.... Have a lovely day.

have done that since.... Thanks.. Nobody is above mistake

ok

D problem is from CBN not d banks. This is irony of duty.

They are considering d cost of minting visa viz d value of the currencies (cost-benefit factor).

Money, as long as it is genuine, is supposed not to be rejected in transactions no matter how mutilated.This is because it is just a proxy. It is only representing a number(its nominal value). The import of this is that u don't derive d value directly from d currency/coin but you
exchange it for a thing of value dt corresponds with d value of d currency. E.g if u receive N200 mutilated note, u are not going to eat up/consume d note. It is not the product/service u have exchanged it for. It is when u need a service/good dt u then exchange it for that service/good. Itt is dt service/good that is consumable.

In d far northern Nigeria, people there appear to understand this as money, no matter how mutilated, is not rejected there. I think we should learn from this.

the CBN and d banks should encourage this by doing the needful.

They may have a thousand reason why they (banks) reject mutilated notes. But considering the intrerestof the economy, such reasons can't stand up anywhere.

Similar harmful policies largely contributed to non use of coins today,despite still being legal tender in the country. Corrupt leaders in time past pushed for introduction of higher denominations of currency just for selfish interests including facilitating easy looting of public funds. Use of higher currencies by Nigerians naturally relegated lower ones to the background in the first instance. Then unpopular policies further led to total non use of coins. This non use of coins, which are more durable than notes has contributed to the problem of notes mutilation.

for real

blueandbirds:
Tell your friend to give to beggars they will pray for him and he will make new money lol..

So the beggars will spend it where?

Simple, start rejecting mutilated notes and every Nigerian will start taking care of the Naira because it will be useless once it is torn. We abuse the currency too much.

blueandbirds:
Tell your friend to give to beggars they will pray for him and he will make new money lol..

Blind beggar kwa!

If commercial banks who are supposed to be an intermediary between The Apex Bank and the public starts rejecting mutilated currencies, with an excuse that the Apex is charging them money for those currencies, then the banks should take the Central Bank to court.

The Apex bank should now explain to Nigerians their job. Are they just out to sell dollars and pounds making their individual profits from the illegal foreign currency deals they perpetrate in connivance with the Abokis.

The central bank MUST not charge any money from commercial banks for mutilated currencies as it is their duty to remove and replace those currencies that has gone bad in circulation.

Or, is it because some of the directors of the CBN and commercial staff that got involved in fraudulent practices of stealing those mutilated currencies in the past in which the deal was blown and some of them in court facing jail term when convicted has made them to start charging money on such?

This nonsense must stop and if actually the CBN governor is aware of this development and nothing is done, it will serve him right to throw in the towel.

Any bank that rejects mutilated note should be sanctioned, they are doing it illegally

trendyupdates:
They should keep rejecting it till they have no other money to pay those that want to withdraw. SMH
Meet the woman that got engaged to herself because of absence of husband
http://www.updatesflow.tk/2017/05/hilarious-meet-south-african-woman-that.html

Oga stop spamming