 మరిలిలాడిల౗ంవారియా మివాడిడిలాక౿ మాడ్పిగెతియ మపినిలిక౿ మినౕనినౕడలికి. మరిహాలిల౾పిలాన౟ాక. నెత్పిమరికితి. నికువిపూవయియా what are your thoughts on business? let me start with Utti Utti are you there? yes yes we can hear you okay so how is this affecting Nigeria? yes I bet we've all seen it the Vox Pop is pretty much the sentiment on the streets people are suffering the man who spoke in Europe I think that's just the sentiment out there there's nothing worse than it's a different thing to not have your money there's a different thing to have money you can't access it you can't spend it to the available channels that you should be able to spend it on your card I mean it's just and it doesn't appear I think the most concerning thing for me is that I don't see that there's an end in sight because the president spoke about reintroducing the old 200 Naira into circulation like I said yesterday I don't know from my sort of many research the volumes of those 200 Naira do not sound like they are the quantities that will alleviate the challenges of the average Nigerian man and nothing has been said about the capacity to produce and meet the need for the quantities that are required of the new notes to drive this so there's also a lack of information when there's a void of information when people don't have anything to hold on to there's no end in sight so it only amplifies the production in an exponential manner they know that this is going to end in two days then I can convince myself that you know what it's only two days and I'll hold on nobody that I've spoken to at least seems to know when this is going to end do we have some sort of communication of a rollout plan to say more one is going to come into the system tomorrow more one is going to come into the system by Monday nobody seems to know and everybody is just waiting this is I mean this is how the first scarcity ended up largely spoke to it nobody said what was happening nobody addressed it and eventually the market found itself the lines fell where they made and we can't do that in this situation because people are literally everything is grinding towards people are being paralysed I remember when it was announced that CBN would start collecting the Naira my first thought was why do people still have the old notes but then I realized are you going to let go of the old holding you might be able to spend it because everybody should have paid in their money but the fact is that the gap that exists with the new notes requires that the old notes remain in circulation it's almost like I have to prove that I have money like an old old old one Naira note to say you know what I had been no real answer and I think that was what was missing for me in the address from the president where we gave a solution but it was a half measure there was no end in sight it was literally like here you have a massive surgical wound and then I give you a little plaster to hold it together and then I say sorry just hold on well Damla what do you think well about this whole Naira scarcity thing I as much as it makes sense it doesn't make sense that's the funny thing it makes sense but it doesn't make sense and I'm not surprised at the outcome that we're experiencing currently I mean the riots because really what were we expecting people are literally suffering okay today while we're on the streets you know some people I mean maybe we're just being people really but in the true sense of it some people were literally just asking for cash and I had to tell them that you see me that I'm doing this interview for you I also don't have cash so we are in it together it's not just a you problem don't think because I'm wearing makeup and I look all fine and stuff then everything I have everything all sorted out no we are in the everybody they collect let's put it that way we are in it together even it doesn't and at this rate that we are going and like Uti rightly said nobody is coming out to tell us okay this is when this whole problem is going to end you know what we're just used to in Nigeria we're just used to there's a problem and then we'll just keep going with it whenever it ends is when it really ends and I don't even think that's the best way to live life because with the way this thing is going on there's going to be a very high increase in crime rates somebody was one of the guys that we were interviewing to do well he was off mic but we're having a conversation and then he goes ah I'm a lot that's we're going to go and scatter everywhere I mean and really I could see the pain where it was coming I mean that's not the best way to go about it but really that's what he just that's that's the level at which he could think and he's like I'm a lot and there was there was really nothing there was there was really nothing I could say to really passifying because we are the person I'm also suffering for instance yesterday at the office I wanted to drink water as in just one bottle of water we send the office assistant to get cash for us and then she didn't even know that they would not collect the old 1000 naira note and 500 naira note and then she got she had already collected the cash and the POS match and gave her old notes so she got to where she wanted to buy something and those ones didn't collect the money okay fine return the money back to where you collected it and then take your money back in transfer they said they are not going to send money to how and up until right now there's a lot of POS matches that actually have old notes with them and they are willingly going to give it to you they won't even but if you return it to them they are not going to collect it so the old naira the old naira I mean okay fine but we came and said okay we can use 200 naira notes for the next 60 as up until April 10 but is the 200 naira note is it really going to be in circulation is it really going to be available people are stranded you know I was talking to my cousin Sinyani she has 9k cash that she cannot use because it's old note that she has not been able to go to work what do we do people also start snatching bad news it has affected me and she said we are at a point of uncertainty my endurance so it's like should I use my money should I not use my money my own money I don't know what to do because on one hand you have supreme court pass given its judgment you have CBN who should we obey so even the whole system is so confused that even lawyers will come out and say no how would CBN you know overall what the supreme court some people say no CBN has the power to so at the end of the day Nigerians are confused so we are the ones feeling the heat and this is so honestly I did not so I saw this coming if it prolonged for too long where we are now because there are already signs of it so I had someone was it yesterday also saying that in the morning when they made the ruling when CBN came out and said he's not going to change its stand on the deadline he said from that morning he was trying to take public transport so they were no longer taking the old notes so he had to beg so at the point he went to the bank tried to withdraw money, stayed there for hours and he was able to get 2000 in the evening in the new notes so they are now saying they are taking old notes so everyone is are we taking old notes so Nigerians were and also insecurity were just at that point where they've had it it's too much where do we go from here and also just like Ute Raitu said there's also the timeline when is this going to end and also Nigerians are also at that point where they are just trying to figure out what this is all about is it what's this story about is it really for the Nigerians or not is it a favor of how am I going to put it an ordinary man or is it a political move because it all started like it's economical it's this and that but now it's very glaring that this is very political I mean you find governors coming out to make statements it's everything it's just a confusion state that's where we are right now I'm actually confused right and I don't know what the future holds right now like I said at the beginning of the show we've thrown into a state of chaos and confusion and as we've all said there's now an increase in crime rate because the truth is that that's how the people know how to express themselves so they're going to start burning places they're going to start attacking people because that's how they know how to express the anger that they have inside of them they don't know to do better but then at the same time is that the right switch they understand peace they are men of war they have 19 men do you have to protest in Nigeria for our own currency well that's the point that we've gotten to now in our dear country and it just seems like the fact that we don't even know when this thing is going to end to say okay maybe after the election I mean we have just how many days about 8 days before the election so are we saying that okay after the elections this whole thing is going to die down are we saying that okay maybe there will be money in circulation what exactly so I think I'm actually urging the government let us know what we're even working with let us know what it is that we can look forward to let us know what to expect now there are panic messages going around saying stock up your house for the next two weeks in fact sometimes they stock up your house for a month some people are saying because we don't know what's going to happen and there is nothing in this world that is as terrible as living in uncertainty not knowing what to expect because we know what's going to happen the next minute so I mean this is really this is affecting there's nobody like you said you don't touch everybody there's nobody that this has not told nobody that this has not affected in one way or the other if you say you have money to okay you are doing the cashless even before because some people are saying that even before now we're already doing the cashless what about the insecurity currently so it is degenerated to insecurity are you now safe with your cashless you've been doing what about your security the truth is Nigeria can not even go completely cashless unless we want to lie to each other okay I want to go and buy biscuits now I'm going to tell Yari Singh that is selling petty things she will just look at me like this guy talking about and it's even the fact that banks are not also helping so you expect that in such a situation charge it expecting banks to reduce charges so banks are charging and the amount of transfers of triple because people are not trying to need more online transactions so I expect the bank to respond to this by reducing charges and also even we Nigerians we have to be fair to ourselves POS operators we have to be and I know like because this goes it's a circle it goes but without paying money to get the money that's what I'm saying it's a circle but it's ridiculous sometimes the rate is very ridiculous sorry to cut you short women say that to collect 50K you have to pay 10,000 naira why? it doesn't make any sense I mean I can understand that they also get the money because I asked one of the POS merchants that I spoke with today I asked him I said okay how do you get money and then he's like they buy from those that have it and I'm like okay that's why people also sell at a high rate they say of course that it depends on how much they buy it that also determines how much they are going to sell it but some people are still being very greedy you know Nigerians an average black man is greedy but you see Nigerians our own is very different our own is really very different because we just want to take and take and take we don't even care if it's going to affect the next person we really don't care about that we just want to take and take we just keep complaining about the government oh the government is this oh the government is that they should have put a lot more time but we ourselves we are not even making the work so easy we get a good government now Nigerians will still frustrate the government I like what you said there that we are not also helping ourselves we are not being fair on ourselves but then at the same time let us also consider this do you want the conductor in the bus to collect transfers from passengers see my sister we've gotten to that point there's no cash now what do you want to do what do you want to do are we transfer 100 Naira if you would take me to but then that would also increase should I say internet fraud Nigerians are not truthful people and I think that is my own problem Nigerians are if we were truthful people well a lot of things could work we have a lot of alternatives if we are being honest because I believe that there is I always believe that there is one solution with several alternatives do you get but Nigerians are not Nigerians are not truthful people like you said now you transfer 100 Naira to the conductor what do you have seen the money what tells you he has not seen it with a lot of proof that he has not seen it do you see so I want to hear from you well I was just listening when the ladies were speaking and a couple of things first of all I don't I think greed is a very strong word I think that when you have a supply problem you have a demand problem it becomes money has now become a product it has now become something that you are selling and when you are selling you are selling with first of all I need to make a profit secondly I need to prospect as to when I sell this one how much am I going to buy the next one by that time in a scarcity you can guarantee that to replace it will also be higher so I have to speculate to say you know what I have got this 50,000 Naira today for 60,000 if I sell this at 70 or at the time I am going to buy that same 50,000 tomorrow is probably now 70 so I will sell it to hedge my bet so the reality of it is that as long as the situation the supply issue isn't addressed the demand will keep driving the prices of that's just basic economics one on one yes the solution is there and I can tell you that there isn't any bank today that isn't scrambling to improve the quality of the infrastructure so that more more transactions more cashless transactions can go through and be successful but again it's a process I like what you mentioned about float because the fact is we also have a largely I don't want to say illiterate but uneducated unenlightened population particularly in that aspect of technology where people and everybody is going to take advantage so if the scammers can get in if the fraudsters can get in they are going to do so so these are all the gaps that were identified these are all the problems that were identified even when Roy was talking about the banks reducing charges we've seen some banks do that but if you understand the ecosystem about banking transactions work it's an ecosystem the charges don't all sit with the banks so any bank today that is telling you they're not taking charges is actually paying some part of those charges on your behalf because the ecosystem still has to keep running if I decide not to charge you that means I put my hand in my pocket and pay for that service but it's great to see that some banks are doing that so they understand how it's impacting people right for me it's like I keep trying to say that what is the solution what is the way forward because this is when innovation comes into play right a lot of organizations need to really and I mean we have fintechs but this is when you then realize that all the fintechs they are all playing on the same technology so all this where fintech where fintech where fintech where the go away for me I always try to say let's learn from where these things have happened before something similar happened in India I can't remember what year it happened and the same thing happened overnight where taking out the nodes were changing and it was a mess it affected the economy adversely and they didn't actually succeed in getting rid of corruption but then we also can look at countries who have moved on to other solutions that they have now used and they are working in a kind of scenario where they are working in a kind of scenario where they are working in a kind of scenario that we are talking about like paying for transport and buses so things that can pay in Kenya the sad part of it is that we don't have the time for the innovation so whoever can get to the top of that line today and create a solution that works even when the solution works then the problem of adoption because how are you going to convince Yarisi that the 29er you want to pay for the biscuits she can get it through the system like they said that for me is what is most unsettling there doesn't seem to be a solution inside and then it doesn't seem to be information and nature avoids the vacuum so as long as we continue it just feels like you are standing further like you are trying to stand further away from a fire with a keg of petrol but then something is dragging you closer and closer to the fire that's what it feels like we are in now and what's going to be what's going to happen what's going to be the chaotic situation I don't want to think about it and I keep saying in as much as we can do in our faith is to pray for Nigeria but I don't know how we are going to do it the problem just seems so big very yes we just have to get through it everybody I've spoken to is like what shall we do those that can stay at home that have a little bit of food it just seems hopeless I think that's the thing and it's nothing more dangerous than that people just go on a rampage don't you think there's violence and there's crime I'm thinking I thought that it would lead to a reduction in crime because really and truly there's no need to steal but there's creativity in it that can steal other things and people will take the opportunity so we find ourselves in a terrible situation and we have been seeking answers and I haven't found any yet that's what's more scary about it thank you I was also going to say two things I was going to ask what are the banks doing to help to curb the situation and make it even better it now seems like we are all surviving through online transactions so if I want to pay 100 Naira 100 Naira you still charge me 26 Naira or whatever amount it is that I'm sending I think that's a bit unfair but I would say there's a process sometimes they have to take the burnt and then at the same time it won't just happen overnight that they'll just come and say we're not charging you anymore for transactions because I remember there was a time they didn't need to charge for transactions we got to this point through something as well also we've talked about solutions after all said and done we've complained we've gone through this there's been so much violence and she mentioned coming up with innovative solutions but then do you think tomorrow are we ready for that these are the things that I think about when I say so before we got to this point what would it be what were the processes putting what did they think of did they do an analysis to say if X happens we should do Y if this happens let's do this for example transportation most of the buses take physical cash we're saying let's start transferring to the conductor but then when we say if we start transferring to the conductor we don't know we don't know so going to have that problem I remember there was a time we had this conversation on the show and I said okay maybe we should now start using cards you get to the what they call it you get to the bus and then you can tap something like that I said this is not something that we can just wake up to as well so all of these things I think this just puts us in a very tight situation and you're still like you want to say something so innovation we are in in it deeply currently so it's not something that's just going to happen so but first I think there is need for clarity even in the political system first people have to even be sure what direction should we take so you have the governor in some state saying that keep using the old Naira note going against what the president is saying and what Sibian is saying what happens to the people in those state who should they obey, who should they believe who should they follow so if there is even clarity like they have one voice we know they have something they are trying to sections in their political parties but for the masses like if you have one voice to say okay we are all saying that do not use the old Naira notes at least from there we can start from there so now some people are trying are still saying let's use it we are using it so you find people fighting in the case of was it protocol I just said when they are fighting people for not taking the old note that's because they believe some other powers have said collapse this mode so if there is even clarity on what direction to take I think it is step in the right direction at this point okay so Gleve I hear you correctly you are saying that there is no oneness so this one governor is coming to say continue I saw a video of I don't remember about Gleve I think it was El Rufaia that said for the next see you guy or something they will continue to collect this note so El Rufaia comes and tells us this he says no we can continue in fact just before we came on the show I saw another CBN director that said they did not ask anybody to bring 500 Naira and 1000 Naira notes to the CBN to the CBN and I asked my own like so what take this and so I think you are right on that let's even understand what is it we are following are we really listening to PMB when he says okay 200 Naira notes to be in circulation you can still continue spending the old 200 Naira notes but then you can take your 500 Naira because I know yesterday that was what was said you can take your old 500 Naira and 1000 Naira you just need to log on to the CBN website and register then generate the reference code and then you can take your money to CBN but then this director we saw this evening a few hours ago says don't bring any there is another one that we showed me this evening that said if you have up to I think in Kogi state if you have up to 500,000 Naira that's when you can come to the bank if the money is not up to 500,000 don't so you are right I think we need that oneness that's clarity to say okay this is because that's another thing that's the confusion we are talking about there are so many different things that are being said everywhere so we don't even know even the people don't know what to believe they don't know what to do so really actually should they carry their 1000 Naira 500 Naira notes to the bank I just got an email from one of my banks now saying we are open on Saturday bringing your Naira notes and I am like okay you said you are open so that means we can actually take money to this bank but what happens I say no take it soon I don't know there is a whole lot I think that apart from disparity of voices our major problem in this country is implementation you know the people in the place of power just say okay we are going to do this they don't think about implementation in mind because it is one thing to lay down rules it is one thing to say okay let us do it this way it's another thing to actually see that that thing is actually done the way it should be done it's basic project management you need to be able to break down your project into bits know how okay we need to do this first before we comment on this this can run simultaneously but we don't implementation feels like it doesn't exist in the Nigeria sector of power we need to come outside and say okay Nigerians this is what we are going to do but then they don't even follow it they don't care if the people that are down there like the regular Nigerians how they can even be able to manage the entire situation for instance this was scarcity thing I generally don't believe that I mean the central bank governor should have just come up to say okay by so so so and so did the old Naira not being used again and it is stamped as that I feel like it is really inhuman now this is why ideally I think that the old Naira notes and the new Naira notes should still be coexisting until the old Naira notes would fade away because it's our legal tender some people apart from those who hard cash some people generally don't take their money to the bank actually those in rural parts of Nigeria they don't take their money to the bank they probably put it in Kolo something like that so what should happen to those people when you create the awareness that by so so and so time that is giving a wide gap by so so and so time this currency will no longer be acceptable anymore people will keep spending it with the hope that when they go to the POS when they go to the ATMs they will get new notes and before you know what is happening the old notes will not be in circulation anymore but actually just saying we are not going to spend this money again and that's that about it I really do not think that it's fair to come on Nigeria's honestly I just really pray that this thing doesn't get to the point where we are as bad as we are envisaging it to get to I just pray that this election actually comes I also pray that the election is not postponed because I was having a conversation with someone earlier today and then he said to me that he thinks this is also a propaganda to actually extend the elections and he even took me back and sent me the last election directive where they I don't remember whether it was 2010 or 2015 where they actually changed the days for and it was actually what was going to happen but you know deep inside of me I don't want the elections to be postponed I have never been so eager for something to come and I think that's the exact reason why they are doing what they are doing because they know that there are so many people that actually want to vote and they want to vote right only a political move to you know just try to shake us a bit so that's why I just come back to what you said it's intentional so the timeline given the short time now that's because it's very intentional there is a plan there is a reason why this was done and that's the reason why no matter what has been done and I think even this protest springing up here and there I think it's really orchestrated someone else's plan still for the purpose of this election and that's the reason why they can't that's the reason why they can't extend it more than what because it's there is a reason for it okay I think we can take comments now glory please I think you have comments so this is from Shagun he said he says hello I am Shagun from O'worsh or Key Lagos PMB plan will work it will work very well there are results already such as reduction in crime rate tanks really? reduction in crime rates okay let's see I think you have a comment mine is from Rafa and Zarya he says when laws and policies are repugnant and there is out by the citizens then the same government takes a decision to repel such laws and policies CBN to new currency redesigned policies is a good thing but the timing and implementation exposes how ineffective policy makers are in the whole world there is no central bank that are involved in collecting deposits from individuals but only in Nigeria and the most disheartening thing is that our leaders have started to disobey the apex court announcements making the courts lose its credibility as a last thing for the common man the last broadcast by the president reminded me of the military junta of yesterday's this our democracy has no part to that's me please tell me your comment alright it's only an illiterate that don't really understand the policy but the main suffering bank on common man on the streets bankers and purest operators what's in the system the solution is if bank play just seeds with populates things will go better I agree to that as well this one says living in uncertainty is dangerous it's political because how can Bwari heads like Kaduna Kogi and Kano govnas challenging their idol Bwari including Festus Kiamo a while ago on another national TV saying that the president was ill advised agreeing that he flouted the supreme court order it's a confusion galore and the fact that there's poor communication goes to show that the leadership which is in this injury time before exiting is taking us for granted as always however I'm pleading with the populace to not play into the hands of the enemies this is my take from Austin from Delta thank you so much Austin Daniel says good evening my dear beautiful ladies of what are you saying honestly speaking this thing has entered another level and people are already reacting what kind of country is this that someone cannot access his or her own account this is very ridiculous there is serious hunger in the land and there is still no solution coming to remedy this situation trust me this violence and protest you are seeing is just child's play I pray not what will happen next will be worse than answers oh I pray not if care is not taking imagine me using money to buy my own money this is highly unacceptable nice anchoring of the show my dear beautiful lady my dear beautiful sister thank you Daniel thank you so much okay yeah so after all said and done I think we have just come to a conclusion that this is really affecting Austin this entire Naira scarcity and we have seen that it is leading to so much violence and it is also increasing crime rates something that we thought was even going to reduce crime rates instead it is doing the opposite of it and while just hoping that it doesn't get like Daniel rightly said we hope that it doesn't get to the same protest may I tell you that if people keep buying their own currency it is going to get to that point that we think it is going to get to because it doesn't make any sense that I am buying my own country's currency in my country at a very high rate so if care is not taking we are going to get it any final words ladies I am still pleading with Nigerians that just become I mean even me saying become I know it is a difficult thing to say because I mean how can you be but look at it in the long run it is going to affect you if this escalates more than it already is I mean you are still trying to look for cash to buy you cannot run out of Nigeria they who are doing calling the shots doing all of this it is easy for them to take a jet the next and leave this country and everything goes crazy so that is why you have to calm down no matter how angry you are just calm down knowing that if it goes any worse than this it is going to be you and I so just calm down and take it easy let's see any final words we wish us to wish Nigerians the best these are terrible times these are uncertain times protect our mental health as much as we can and let's keep the hope that we have that's all I can say there is nothing else to say really like I said earlier we are in very tough for precedented times in all of this please our priority should be safety and by the way who are we miss you as well but before we go do ensure you follow us on instagram you can interact with us further drop a comment and most importantly follow all our social media engagements and remember to like, share, comment and invite your friends and family to watch us and follow us if you miss today's quotes here it is again building Nigeria right now feels like the world is ending but see you on Monday at 8pm as we bring another great conversation to your screen thank you for watching