Old Naira Notes: Senate Seeks Extension Of CBN Deadline To June 30th, 2023
Category: Nigeria News
The Senate has urged the Central Bank of Nigeria (CBN) to extend its deadline for the phasing out of the old N1,000, N500 and N200 notes from January 31st to June 30th, 2023.
The recommendation follows a motion by the senator representing representing Borno South, Ali Ndume raising the alarm over the January 31st deadline.
According to him, the notice given by the CBN is too short, considering the “few” banks in Borno and Yobe states and the “inability” of people in these states to lodge the old notes in time to meet the deadline.
The CBN Governor, Godwin Emefiele on October 26, 2022 announced the redesign of the three bank notes, saying the new and existing currencies will remain legal tender and circulate together until January 31, 2023.
The apex bank believes the redesigned notes will limit cash in circulation and therefore restrict the deplorable activities of ransom-demanding kidnappers as well as politicians set on rigging the upcoming elections.
CBN do not have ny option other than to extend it now abi how will they liquidate the old notes when new notes aren't in circulation
ReplyDeleteNo waay
DeleteThey only released few quantities of new notes to the banks and hoard the rest.
DeleteI went to different banks last week to made a withdrawal of 100k and I was told the new notes aren't available. I reduced the money to 50k, they said I couldn't get it and I was like, what kind of rubbish is this one.
The old currency is hot cake!
DeleteThey want to allow those politicians to use the old notes for election ni
DeleteIt is obvious
DeleteIf you need 50k new note come my bank, them go give u
DeleteThem won use the once in their homes ND store to give out for election, they can't take billions to the bank to deposit
DeleteThem too get sense
Which bank?
DeleteThe truth is
DeleteIf u bank in a particular branch and u well known the new currency will be given to you,
I bank with gtb n zenith, although have other banks when I needed 50k I was given 30k new and 20k old
They wanted to give me 10k new notes too e too small
DeleteU for collect am
DeleteWe no go gree.
ReplyDeleteUna wan use old note for VOTE buying
Before nko
DeleteThis is Becos,
ReplyDeleteThey believed many wanted to withdraw and keep.
So strategically, we will stick to cashless policy by force.
By time you transfer for vote buying it will be easy to track down.
Now you must transfer with narration
Owó ọbẹ̀
Owó epo
Owó motor
The implementation of cashless policy is next year now and they're even ready to give you any amount of old notes.
DeleteLet's wait and see sha!
Is it a must to put narration before transferring?
DeleteYes o.
DeleteIfyou want to send Margret money for menstrual pad, you'll out it there.
Not mandatory
DeleteI wont agree,
ReplyDeleteCBN should stand their ground on this
If CBN are not compromising too, the new notes should ve been in circulation by now
DeleteThey never mandate it,
DeleteBut you yourself must do...
Make them no tag u
VOTE buyer
So that they will use it buy votes, ndi ara!
ReplyDeleteCBN will heed to such request, so long as it's coming from the North... mark my word!
ReplyDelete