SEE WHAT HAPPENED TO THE PRINTED NEW NAIRA NOTE AND WHY IT IS SCARCE



WHY PEOPLE CANNOT ACCESS NEW NAIRA NOTES

By Baron Roy 

The 2023 Presidential Elections 19

The CBN designed new notes...

...and asked folks to change their old notes to new notes over a 3-month period.

There was 3trillion Naira worth of printed Naira in circulation!

Nigerians exchanged about 2trillion Naira of the old notes for new notes.

About 1trillion Naira of old notes is still note exchanged!

This means 1trillion Naira of old notes are in hiding somewhere!

Here are the facts:

1. The 1trillion Naira old notes are in bullion vans and warehouses of politicians; they find it difficult to change and are running all about to scuttle the new notes policy

2. The new notes are being hijacked by the politicians too and about 1trillion Naira of these have been hijacked already 

3. We have less than 1trillion Naira of all notes (old and new) in circulation 

4. The CBN cannot print more notes because by monetary policy, there's a ratio of the value of the notes against the GDP that must not be exceeded to be in circulation 

5. The politicians are hijacking the new notes directly from the banks!

And these are facts!

Their own brand of "structures" and winning elections is hijacking raw cash to buy votes!

Thoae are the people that want to be president or something to give you development? Seriously?

#thinkAgain and bury that stupid constitution!

Are you still expecting credible election???
Share it widely, thanks. 

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