Bitcoin Forum

Nigeria is currently facing one of the most disastrous time in history in terms of economic meltdown and inflation in the country. This problems are also due to the upcoming elections in the country, opposition parties are using every means possible to make sure the present governments Leave but this political battle is now affecting us the masses.
 Recently the cbn announce the redesign of the old naira note and it's ttermination use before the end of January but due to the scarcity of the new notes it later postponed it further till 10th Feburary and now today i saw another update, as he has later announced the continual use of the old notes even after the given termination date

 HERE (http://BREAKING: Banks Will Accept Old Naira Notes After Deadline, Says Emefiele https://l.kphx.net/s?d=5861263233617409242&extra=&g=6261378cb897e794d80ffb473637a7f0 (From Phoenix APP))

The mases are really going through hell, because of the economic meltdown in the country, and we expect our leaders do something to save the life of the poor mases in our midst.. come to cbn governor, what he said is that as from 10-2-2023 to 17-2-2023, you can still be going to the bank deposit the old naira note, while the new naira note are been used..

I think the decision is good to be using the old note too due to the scarcity of the new naira note, at least after some days the old naira will be reduced like the way the 100 naira own was done, because if they keep saying they can't use the old naira note and the new naira note is not available it will really cause a lot of problems to the poor, that's remind me I saw a new today that a man lost his pregnancy wife due to the scarcity of the new naira note, please our government should do something about it, whether the new naira should be available in time or people should continue using the old ones.

These our leaders are just confused set of People most time I dey wonder if them get advisers, because how can person go see as the old naira notes been dey in circulation for years , you wan come use only two months withdraw am, it's not possible na, the for still leave the old money but once em done enter bank , bank no go give am out again and make them they give the new notes over for counter by so doing before you know the old naira note go disappear from our hand.

My own opinion be say make Dem no for fix deadline wey people go stop to dey use the old notes,
The thing wey Dem suppose do be say, CBN for print many of the new notes and send to other banks like fedilty, zenith, union, access etc, Dem if person go banks (ATM)to make withdrawal, bank now go miss the new notes and the old notes together and give to people, Dem go still miss the new notes and old notes for ATM too.

then when Dem know say the new notes don plenty pass the old one, Dem go stop to dispense old notes when person want make withdrawals,then na only banks go dey accept old notes that time for only deposit, na so Dem for do am oo, because all this their deadline wey Dem dey put no go work...

What they are supposed to do by changing this note is allow the old one to gradually move out of the hands of the holders, just as it was done when the old 1000 and 100 were changed years ago. I can remember that both were accepted up to a certain point where we were no longer seeing the old notes. If they can hold on to this, then the money scarcity that we are currently facing will gradually reduce since no one will be afraid of holding the old note and not being able to use it. 

The truth about this whole scenario is that politics is involved in this action,they all know what they are  doing. Last time like you said redesign of 100 was given enough time for proper circulation before it was gotten rid off. They use their selfish interest to suffer the masses for no reason,if not why the rush to end the swap. All these nonsense is done by the APC leaders just to have more advantage over PDP to manipulate the forth coming election.