long overdue for the past 5 years

Money heist

bettercreature:
Its a very obvious scam

A VERY OBVIOUS ONE

the country is going mint

sharena:


A VERY OBVIOUS ONE

EMEFELE want to loot his own before signing out

They should go to Lekki toll and pick the 2dead one's an Uber man gave me last week and i used it for toll this mornig.
Clean 100 naira notes have long gone to rest.

They are all notes thAt should have been destroyed by cbn staff but managed to find its way back into circulation.

c how d #200 note b like how Nigeria is currently in Buhari's hand.
Oh boi... Naira don suffer,
Naija don suffer... Buhari, ppl don tire 4 u ooo

They are beginning to think? Ok cool

grayht:
Amazing development
They should give it to APC for 2023 presidential elections!

Wheres Lalasticlala sef!

can such notes be recycled? If yes, I feel that should be the best way to go.

IfoyinTEDO:
And a staff would steal them from CBN vault and spend then back to the street

This is exactly what happened the last time they sent mutilated currency to be destroyed, senior staff colluded and stole billions from the cash.

What happen to the hawkers of new currency note, you can not get new notes from banks yet CBN look the other way

Guyman02:
Watch out for dirty notes in circulation. They would divert it back to the market, it has happened severally. The destruction of the old notes should be done openly and observed by international observers from UN, since we cant do anything right.

You know the drill nwanne

very criminal country


Those in charge of destruction will want to siphon some of the notes
and put it back in circulation

criminals

Nbote:
Dey shld start with those cancer looking 100 naira notes oo... I can't remember d last time I even saw a clean one

Them plenty fr Abuja Banks and Bank. Long hand can fetch you clean money

Avengers: Endgame is nowhere close to top rated in the 250 list. Yet you placed it at No.5 to promote your selfish interest. We will sit conveniently to blame the Govt and policies, yet the little we can do is poluted with lies and propaganders that favor ourselves. I'm sick of acts of blasphemy. Do good.

Olamsoh:
Top rated movies.

1. The Shawshank Redemption

2. The Godfather

3. The Godfather: Part II

4. The Dark Knight

5. Avengers: Endgame

6. 12 Angry Men

7. Schindler's List

8. Lord of the Rings: Return of the King

9. Pulp Fiction

10. The Good, the Bad and the Ugly

(IMDB)

Olamsoh:
Top rated movies.

1. The Shawshank Redemption

2. The Godfather

3. The Godfather: Part II

4. The Dark Knight

5. Avengers: Endgame

6. 12 Angry Men

7. Schindler's List

8. Lord of the Rings: Return of the King

9. Pulp Fiction

10. The Good, the Bad and the Ugly

(IMDB)

I so much love 12 angry men
Do u have dat movie

Tintinnoty:
LARGE proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated Teller Machines (ATMs) and over-the-counter payments, the Central Bank of Nigeria (CBN) has said.

A statement by CBN’s Deputy Governor, Operations Folashodun Shonubi and Director, Currency Operations Department Mrs. Pricilla Eleje spoke of plans to withdraw such notes from circulation.

The officials said the bank had the obligation of providing adequate supply of clean banknotes to facilitate seamless payment and settlement of transactions by the public, government and banks.

CBN Governor Godwin Emefiele is “due in Lagos tomorrow to launch “The clean note policy and banknote fitness guidelines”.

The CBN described the measure as the first step in its bid to address the sorry state of the notes in circulation and create a new culture for better handling of the currency.

The clean note policy provides a uniform standard for the circulation of only clean and fit banknotes; while the banknote fitness guidelines provide the industry with clear and acceptable criteria for determining the quality of notes in circulation.

The policy guidelines, the regulator said, were developed after extensive collaboration and engagements with key industry stakeholders under the auspices of the Nigerian Cash Management Scheme, a Bankers’ Committee initiative.

The plan will ensure that unfit, dirty, mutilated and counterfeit banknotes are not in circulation. This is pursuant to Sections 18, 20 & 21 of the CBN Act 2007 which prohibits the counterfeiting, sale and abuse of the naira.

The statement said: “The CBN cannot achieve these objectives without the collaboration of deposit money banks(DMBs), merchant banks, microfinance banks, government agencies, Cash-in- Transit ( CIT), Cash Processing Companies (CPCs), Market Associations, merchants/retailers, chambers of commerce and industry, security agencies, currency Management equipment manufacturers , bank customers and the general public.”

It explained that over the years, the growth in economic activities and the upsurge in population had necessitated the rise in the volume of banknotes in circulation.

The CBN said: “In view of technological advances, the CBN, like other central banks has introduced various forms of electronic payment systems for effective and efficient settlement of transactions and to reduce the volume of cash usage with its attendant cost implications.

“Despite the prevalence of other forms of payment, cash remains ‘king’ in our day to day economic transactions. As such, people still prefer to use cash in making payments especially where there are no digital payment platforms.

Source:
https://thenationonlineng.net/cbn-to-withdraw-n7-9tr-dirty-mutilated-notes/

good development. mopping up bad notes is a good way to go. kudus to CBN.

but the mopped up money is used to enrich one Alhaji. who is deceiving who?

stupid set of useless people. na them.burn 7.9 trillion old note when people are suffering in the country.note that will still be in circulation. even the bank workers no how to benefit from the note if u no ur way.sometimes I keep on imagine that only CBN have right to print money.if everybody are entitled to do this so far u get money to buy machine I go be the richest man in the world.na common sense.I have said the truth nobody should quote me wrong if u do u hug transformer.

Amuocha:


Are you aware that this exercise could have been done as an exchange.

You go to the bank with your dirty notes and a new one issued instantly ...without conditions

How else were you thinking they were going to do it before?

They're simply going to replace all bad notes brought to the bank as bank lodgements by various customers when each bank takes their deposits to them.

Or what were you thinking?

eezeribe:
They should start with 100 naira notes...

Praise God. Wish our polymer notes can be return back to paper.

Amuocha:
Economic recession looms again
Investors are withdrawing
CBN is withdrawing
APC has no budget to spend
Lord hear our prayers

please what can the government, CBN, and commercial bank do to fight recession and restore investor confidence in our financial mark


pls be elaborate and cite extant cases

Amuocha:
Economic recession looms again
Investors are withdrawing
CBN is withdrawing
APC has no budget to spend
Lord hear our prayers

please what can the government, CBN, and commercial bank do to fight recession and restore investor confidence in our financial market


pls be elaborate and cite extant cases

bettercreature:
EMEFELE want to loot his own before signing out

I sensed that as soon as I read the first topic on this... Now they have attached a figure to it; 7.9tr

I won't be surprised if he resigns or is sacked after this.

pussyAvenger:
please what can the government, CBN, and commercial bank do to fight recession and restore investor confidence in our financial mark


pls be elaborate and cite extant cases

To fight recession is simple.

- encourage increased local consumption.
- stabilise the macros economy
- encourage foreign direct investment

How them carry know the value of mutilated/dirty notes?

My naijaaaaaaaa...

I sight u, bro. Check my moniker

If I'm correct, it cost 2cents to produce the paper notes such as N100 and 4cents to produce the nylon type like N50 but they last 4 times as long.

It's best they intoduce coinage for N10 to N100. I would have said N200 to coins as well as it would discourage spraying. People rarely spray the N500 notes and higher denominations.

The CBN should also introduce the N2,000 and N5,000 notes. It's a shame that the present highest denomination is not even worth up to $3.