 The supply pressures particularly to our citizens, I have given approval to the CDN that the old 200 Naira banknotes be released back into circulation and that it should also be allowed to circulate as legal tender with the new 200 Naira, 500 Naira and 1000 Naira banknotes for 60 days from February 10, 2023 to April 10, 2023 when the old 200 Naira banknotes ceases to be legal tender. In Lionel section 20, subsection 3 of the CDN X 2007, all existing old 1000 Naira and 500 Naira banknotes remain redeemable at CDN and designated points. Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CDN. Okay so the president lamented that the currency in circulation grew from 1.4 trillion in 2015 when he assumed office to 3.23 trillion at the end of 2022. He however said that 2.1 trillion of the cash in circulation had been retrieved since the launch of the Naira redesign policy of the federal government on October 26, 2022. Now what are your thoughts on this development and do you think that President Mohamed Abouhari's plan you know to fight corruption, to curb all the works the reasons that he gave for this Naira redesign, do you think that plan will work reintroducing the 200 Naira nodes you know in the market. Now please let's hear what you have to say remember you can join the conversation send us an SMS or WhatsApp to 081 803 4663 you can also tweet at us at Weissha after one or the hashtag Weissha. All right so this conversation is quite interesting you know so when I saw those guys bringing in money and I'll come to you Uti back to the CBN right and my thought were okay so were these people really not taking a central bank of Nigeria seriously that they kept 150 million Naira at home what if you know there was no extension what would have happened so is that not why we're seeing all the agitations there some people are actually fueling you know people to go and cause rank up because the truth is honestly the people that truly need the money and that go to queue at 8 a.m. they are not the people that it is the people that need to 2,000 Naira, 5,000 Naira right the real people with real money you can't catch them staying in the bank for money tonight in the name of trying to withdraw money do you understand so I'm trying to get a bit of clarity here but Uti President Buhari has reintroduced 200 Naira nodes for the next 60 days alongside the new 500 and new 1000 Naira nodes what are your thoughts because earlier today I passed through the airport and we had to pay 400 Naira I had to ask the guy do you have new nodes to give me back because if you don't have new nodes me I will not pay you and most of the businesses they are not cashless a lot of these things you know I was telling my sister I said see this is where there's corruption because if I'm paying as high as 400 Naira why can't I just scan a QR code or something and pay directly to other people you want to collect cash you know so I mean the the system that we are so cash driven has also really really filled corruption because now I told you people about a a a luggage that my sister had sent to me as a gift from France they it was supposed to be delivered to my house they didn't deliver to my house they delivered it they intercepted it and took it to Shomolu the night post they Shomolu they now called me up and said I should come and bring 190,000 Naira 890 I'll be 895,000 Naira you know that we ended up paying 50,000 Naira for that loot but that payment is nowhere in any record because they insisted that we had to pay cash you know so there's corruption in the in the land there's heavy corruption in the land so when I see policies like this it tells me that okay maybe somebody genuinely wants to just solve the problem but you see it's not really my say because I'm not a finance expert I don't know how this would impact and that's why I want to come to UT first help me establish this this conversation the reintroduction of the 200 Naira what do you think you know would it help would it work but so thanks it's an interesting one I listened to the president's broadcast this morning and you know throughout the whole time when he was talking I was just going oh yeah what's what what is it what is the solution what are you bringing to alleviate the the pain of the average Nigeria so when he said that they were reducing reintroducing the old 200 Naira notes into the system to support the 200 the new 200 500 and 1000 Naira notes as well for a 60 day window I thought okay that's interesting so that is at least they've done something to attempt to alleviate the pain or the issue the situation that's going on so in fact the the broadcast had ended and then I found myself thinking hang on how much of this money is in 200 Naira notes denominations so if we have managed to reclaim 2.1 trillion in deposits it would have been nice if we had a sense of what constituted the percentage of that amount that is in the 200 Naira notes denomination for us to properly assess whether this is actually going to alleviate the situation or if it is just a a way to keep us going until the election because he then also spoke about the election being on the 25th and urging everyone to go out and vote so I did a bit of research and the closest I could find was that I think it was about 55 percent of money in circulation was actually 1000 Naira notes and that's the 200 Naira notes in circulation was only about five five percent but again this is just general sort of you know research you know I don't have the exact statistics but this was me just trying to find information around what this would actually mean if that money was reintroduced into the system I think the other key thing to mention is that this issue has always been I don't think anybody who is truly a patriot of Nigeria and who has like you said understood the implications of corruption and how cash facilitates corruption I think if you can look at it from a logical neutral point of view you can agree that what they're trying to do is a good thing right so the problem here is not the policy the problem is the implementation because here you have from the video that you showed here's a hundred and fifty million million person is bringing in in cash now the banking system has a fairly robust bvn the amount and this is what we talk about the different databases that we have in Nigeria and everything you have bvn you have the what's that thing called now is it the scum out certificate that businesses have to have um we have all these different areas we have nfi we have efcc we have a whole you know industry around managing fraud managing corruption just all of that but here is somebody rocking up to cbn with a hundred and fifty million like who is like what questions do you ask because if you are a genuine business you would have found a way to pay this money because i don't know any business that can afford to write off a hundred and fifty million like that even if you say that this is a billionaire company hundred and fifty million it's not a drop in the ocean at all so the fact is we can see that it is an implementation thing because the people who are suffering they're not looking for some people are not even looking for a hundred thousand naira they're literally looking for two k five k yes and all of that so given that there is data given that there is information how could we not um cut off the head of the snake at both sides let me put it that way because you could have fork corruption without affecting the day the everyday man because we all can read between the lines to say we understand what it is that you're trying to achieve we understand trying to mop up the naira that is floating around everything you know it's all very laudable it really was just implementation that was not a problem to the point where absolutely um it's a boiling point so so there's there's just so much to unpack there but i think i'll stop there okay you know what so i so that we can also bring in our viewers early enough let's just quickly go out on a break when we come back we'll open our phone lines and i'll hear jennifer and nalera's thoughts on this stay with us we're very back all right thanks for staying with us now if you're just tuned in we are discussing the old naira withdrawal and we're asking will pmb's plan work and it's our lady's night out now let's hear what you have to say remember you can join the conversation send us an sms or whatsapp to grade one eight zero three four six six three you can also tweet at us at weishu africa one with the hashtag way show then our phone line is now open the number to call is zero seven zero two five zero zero seven seven four nine that's the number to call zero seven zero two five zero zero seven seven four nine remember to turn up the volume of your whatever device it is that you're watching us from okay so jennifer and nalera let me come to you jennifer then i'll come to alera what are your thoughts on this reintroduction of the 209 do you think it would help at least all the rancor we saw at those state people shouting they don't have money and all of that because really the people that need money right uh queuing at eight o'clock sleeping at eight o'clock camping at eight o'clock is to that 209 would truly cater to them right at least if they have the 209 to to work move around with but again here in uti saying only five percent you know would they add their plans for them to like um like produce more of that note but let me hear your thoughts on this honestly i'm actually still very confused by this because i don't know and i don't understand how um reintroducing the old 200 nara notes and taking it out after 60 days what that would do is either you if you already have the new notes so just get more put more in the atm's and let people have access to this money and that's what people are asking for i don't think anybody needs the old 200 nara to come back and so maybe they didn't maybe they didn't manufacture enough 200 nara or they didn't print enough 200 nara notes so maybe that's why they want to okay plus the new 200 nara note that is in existence and the existing 200 nara notes let's flood all of it back into the market that's that's what i think you know so if you flood if you flood that amount or that note back into the market you have people carrying bundles of 200 nara old and new yeah old and new and it just causes a lot of confusion so what happens once it 60 days is over you tell people okay come back no no at least i'll give you like so whatever 200 you have left come back again to the bank and then return it i don't understand i i i don't get you're trying to understand it okay let me let me ask alera she understands it alera what do you think okay you know alera please hold on your your thought let me just take our first call up an evening i'll come to you alera sabastin you're alive yeah yeah okay good evening good evening i'm getting to the studio yeah i know that i know it's college this college no problem what i what i saw the policy that the government brings to us although it's a hard it's very bitter on us but one thing we know good things doesn't come easy yes we know how politicians they are trying to manipulate their way to buy votes and they seem to be the subunits this is the problem of Nigeria all these people though this big politician that they have money because they seem to be above the law so what i know from our president is in order not to try to avoid all these problems he bring the policy so the policy now is fighting on on us we know that we it is not easy for us to do this in fact they they're gov not the fpc gov not that are doing this thing we want them to come down because we have this work full capacity as to strike all those okay nobody go to thank you Sebastian thank you Sebastian uh so i think the fuel situation has calmed down right so let's let's just move fast that um allero your thoughts on this do you think president Muhammad Ubu Ari's plans will work so for me whether we like it or not whether it's going to work or not we have to wait wait it out experience it i mean like you said the bottom lines are the ones suffering from this if i last week there was a very very embarrassing experience that i had i needed cash my phone went bad and i had to quickly just sort it out i needed cash i couldn't get cash so i was telling myself that okay maybe when i go to the bank and i tell them that it's dollar i want to withdraw they will allow me to enter the bank maybe i got to the front of the what they call it the entrance of the bank and the guy asked me what do you want because i saw crowd and i was thinking i may be because the dollar is non-naira they will give me a different treatment but more it's not is the same if you see the number of people that wanted to eat me up because i said i wanted to withdraw dollar and it's non-naira i said nobody everybody just wants who are you let me take back mamu for me to come on my face to walk away because i was like jesus and me i'll say okay because if i go and i will not collect naira so let me cook or collect dollar so i can go and change and it that's so everybody is absolutely hand-cooked everybody yeah let me take my mood we have a caller from meduguri my mood you're live hello more effort is a good policy and if you look deep into it even those targeted with the policy uh they have missed the target already because the elites are not suffering from the main target of the policy is only the format is who are being devastated are still suffering from this policy the good policy what is on time so i get you i get you mohammed to look into it seriously to see to ease the sufferings of our communities and the largest society okay so i get you mohammed thank you so much so it's ill timed and that's why i think that they have realized that okay this thing was ill timed right so that's why they brought back the 200 naira notes back into the market at least for the next 60 days will not be complaining of money shortage because it's money shortage that is the problem right it's not it's not that oh there was a new currency is that the currency was not enough for you so what these guys were thinking like the way these guys have taken a hundred and fifty million to the cbn yeah they are expected to collect 150 million of the new new notes so that's why a lot of people were hoarding their old currencies because if they take the money to the bank they are not setting that the bank can give them what they have given them you understand so if i give you 150 million you're not giving me 150 million but if i won't get one million naira i'll be lucky to get back one million naira from you so that's why a lot of people were not you know having it that they wanted to return their old currencies but now the reintroduction of 200 naira it will help at least the mass market because again it is the mass market that really suffered the heat and i think this is like trying to correct the the they feel like oh we made a mistake so let's try to correct it i think this is what what this reintroduction is but i think we have a caller um maya i believe ilia from bouchie hello ilia ilia we are finding it difficult to to hear you but let me come to you back um alero then i'll come to uti right i mean yes people are suffering but um someone was giving the analysis today and they said see if i needed to withdraw um 100 million naira in 200 000 to 200 naira notes it's a lot of bulky movement right compared to if i withdraw that same amount in a thousand naira notes or 500 naira notes so now reintroducing the 200 naira notes do you think it will help in any way to fight this money politics which is what literally like all of these things is about like trying to make sure that this election is not um you know bombarded with money so for me i feel like it's because i mean what's the point of of actually saying that we can actually spend the old the old 200 naira notes when the initial thought was to you know change things so it just seems like you're going because it's still money still has value that's still be spent and it's even worse because it's now going to be in larger quantity like you mentioned so for me i still don't understand why they can't just make the process easy because the fact that it's limiting like when you know when this fact that there's scarcity is actually causing too much unrest but even the solution that they have created which is this making sure that okay you have you know the old 200 naira notes that you can still spend it it still doesn't change anything it still doesn't change so uti let me come to uti what do you think they should have done differently if they wanted to make this policy work think that first and foremost the the awareness so there was a lot of awareness around um or they tried to drive the awareness of the campaign right um and focused on having people um paying their money now the first approach towards paying in the money said everybody whatever money you have go to the banks but we first of all have a largely a large under banked and um unbanked population right so not everybody some people live pure you know cash existences right they don't have bank account uti you know hold that thought uti let me take francis from leagos he's been holding for a while then i'll come back to you please don't forget your thoughts francis you're live okay good evening good evening yeah everybody yes i just want to react to the discussion go ahead please okay fine uh the plan will work first of all nothing comes easy it's just a short time we the first time we are going in a short while we stand to benefit from it i strongly believe in what you and yourself and the monetary policy that is being issued by me it may fail it it's good okay because like what i said the politicians are ready why would they the governors why do you ask the world why are they telling what they don't want to help you know set up a big country thank you francis uti so you thank you francis uti you were saying that you know large population on the banked and um what's he called um cash driven populations that we have go ahead yeah so even the first attempt to retrieve these monies that were out in the economy um largely ostracized those people right and those are the people who really need the 2k the 5k you know then understanding what aspects or what sectors of the economy truly depended on cash take transportation for example people going on buses every day this is a real life blood of the economy people being able to move from point a to point b cash dependent completely so in using the data i mean when the age of data data driven and decisions using the data to be able to understand the real impact of this so it's like you're trying to kill an aunt and you want to kill one particular aunt then use the sledgehammer you kill all the aunts around it so you're you're literally trying to say the people that have hundred and fifty million they would have one billion two hundred million they're not affected by this in the everyday the way the average man is absolutely but he please hold your thoughts kind of day for mabuja has been holding sorry for keeping you you're live okay thank you good evening good evening go ahead okay on the reintroduction of the two hundred nine notes and first of all starting from the reasons the government gave now for the purpose of politicians not buying votes and all of that now we die in the cities we are complaining we are facing a lot of issues trying to get money the people in the villages they are even far worse off than we are and now you have you are reintroducing to 200 error if you give 5000 error of those to 200 error to an electorate during the election and you tell them right down there in the villages because in the cities basically there are a lot of election observers everybody wants to see what is going on in the city so they concentrate more in the cities it is in the villages that election cheating and all kinds of things goes on if we are denying the larger populace right now to get access to money during next week believe you me this to 200 error that they are returning back into the economy like the politicians again we use it to buy votes we just need to give a common man in the village 1000 error or 2000 error thank you okay we have been so much calls let's take comments quickly then i'll let uti to wrap up what she said alera you have a few comments with you yes um so i have a comment here as long as this pulls through this should be one of the biggest gifts pbm is going to leave office for Nigeria for Nigerians with let's see how the first time um let's see how for the first time we should go we should be going to the pool without any doubts or or over the results this is from Charles um in kaduna um there's also another comments from um Angola greetings to you dashing ladies concerning today's topic i agree with Jenny because i still don't understand the positive impact of reintroducing the old 200 notes back to the system this is from gift offer from angola okay let me take loma then i'll come to you jennifer time go ahead your life good evening my dear keeper good evening there is also loss the plan of our president will work okay if our secretive men they feel that yes it is the bss will not compromise it if only the work with the three after i listen to the president like that i don't like that for the first time i don't like that for the president what he has done is collecting votes by him those money laundering let me see how they will carry that if it's not one thousand naira notes that they stock in their proper in the stock after pitch let them bring it down let us insert the game plan of our president will work out okay we have to watch in a credible candidate so what i'm not saying is that the problem now lies on the tables of his secret who will make sure this particular plan will come if they compromise that is the plan of the president will not work but if it won't be the president to make sure that we have that people can vote not vote by him but let me just tell our supreme court supreme court has made itself our president of ovarudia and they don't have power again well if i have any problem after the after i turn the high cost i will not go to the premier to help me because the president is the final i hear you you better go to our supreme court let's take some comments all right so i have a comment here that says it's only an illiterate that don't really understand the policy but the main suffering banks on common man on the streets bankers and purest operators was seen the system the solution is if banks play justice with with populates things will go better if only we can just sacrificially endure through these till after elections like we did with covid lockdown it would be a record breaker uti you have a comment and i i need you to wrap up the conversation for us all right so um this is from our regular fan daniel illo it says good evening my dear beautiful sisters of ways narrow withdrawal will pmb's plan work i really don't understand what pmb's plan is whether it will work or not i really don't know at least the resurfacing of the 200 narrow old note is a very big relief that way no one will suffer cash shortage but if he can bring back the 200 narrow note why can't he do likewise to the old 501 000 um that pastor that died after fasting for 40 days so he wants to be on the same level as god um and he urges you to rest or uh thank you very much daniel thank you daniel and what's on comment says pmb's broadcast to me has no effect because he is brazenly disobeying the supreme court order why must we my must we be disobeying court orders particularly that of the highest in the land suspend the policy till uh the otherwise decided like what have you said there are several bodies to check body laundry use them to track those you are looking for i'm not against the policy but um as we have said there are still some transactions that are not cashless go ahead uh utti so i i need you to wrap up the conversation so we can go in a minute just to come yeah i mean it's a step in the right direction it's attempting to i believe it's attempting to find the middle ground which is to reintroduce some money to alleviate the plight of the common man without totally taking the legs out of the policy itself i like the last comment who talked about the legal ramifications because we also um i also sort of looked at that a little bit to say um we know that several um state governments have gone to the supreme court and there's an injunction in place um does that mean that the president is basically overriding the law but we don't have enough time to sort of dissect that now uh it's a step in the right direction um i like that the messaging around the election has been reinforced so uh we all believe that there's an end in sight to the current issues and we hope that people find some sucker in this money being um released the final comment for me would be that of course implementation is everything so my thought my final thoughts on this is how quickly would the money be reintroduced when would the banks then have that money to pay out to people uh the element of so today you know atm's don't pay 200 naira so that means a reconstruction again of atm's yes yeah to be able to pay 200 naira so there are lots of moving parts so making sure that we've learned from the implementation issues of the past and are able to move up very quickly absolutely i think on that note we we've had a fantastic conversation this matter is is unending we really love to to understand how this would impact in the next few days right it would see the effect whether it's good or bad but thank you so much ladies thank you allera thank you uti and thank you jennifer now before we go and show you follow us across all our social media handles that waste your africa you can interact with us further drop a comment and most importantly follow all our engagements on social media like share and invite your families and friends to watch and follow the conversation now these are interesting cause money often costs too much i think it's costing us too much right now we should just go cashless already gtb bank they are owing me money like two times they've debited my account they haven't reversed it i've been calling my account officer nowhere to be found i will start calling them out too because now we don't even have the capacity for cashless do you understand we have too much things Nigeria is a unique country we'll see you guys tomorrow at 8 p.m i want to be here channel we take you on