@ okija juju
i like your english here. it is indeed "THE BEGINING OF THE END" lol

OP 5000 naira note is not the solution to nigeria's problems...and I don't remember SLS say that it will solve nigeria's problems.

But if you must knw, introducing the 5k note helps:
1)Enhance the portability characteristic of money
2)Increase d volume of currency in circulation, what economists refer to as INJECTIONS into d economy
3)Increase d rate of inflation slightly,as moderate inflation is desirable and preferred to deflation
4)Immortalize national heroes, in this case heroines, celebrate their braveness n enlighten the younger generation(and posterity) on the role(s) these women played and motivate them to followsuit
5)Bridge the obvious gender inequality trend of using male heroes on previous nigeria's currencies (its now 35% inclusion of females) *tongue out*.

How to kill a third world economy in 24 hours, written by okonjo iweala and lamido sanusi, approved by GEJ, experimented in nigeria. To be released soon. Get your own copy

higher or lower denomination of notes will not really create inflation and in the long run when the 5k note is introduced the lower denominations will be reduced in circulation to encourage a near cashless system and in situation where cash will be needed for transactions the higher notes will come in handy.its only disadvantage is it will aid corruption which is a nigerian phenomenon

DIS SANUSI MAN WON'T LEAVE US ALONE UNTIL HE FINISHES US, DAT IS D LEAST OF OUR PROBLEM IN NAIJA RITE NOW . D RATE OF INFLATION LLB SUMTHIN ELSE. BRITAIN DAT COLONISED US VE 50POUNDS THEIR HIGHEST DENOMINATION . WHY SHD WE RUSH TO THING DAT LL FURTHER IMPOVERISH US ALL. PLS LET SUMONE ADVISE HIM OH. WAT HAS MINISTER OF FINANCE SAID ON DIS ?

tellwsdom: We all know that's not our problem...so no ask us

4rm now on, u wl be hearin news of missin people evry day evrytime.RITULIST.ds also wil ad tu unsolv prblm already exist.is nt ds time around dey shld do dat.RITULIST,HERBALIST:evrybody beware n becareful

Eteo: OP 5000 naira note is not the solution to nigeria's problems...and I don't remember SLS say that it will solve nigeria's problems.

But if you must knw, introducing the 5k note helps:
1)Enhance the portability characteristic of money
2)Increase d volume of currency in circulation, what economists refer to as INJECTIONS into d economy
3)Increase d rate of inflation slightly,as moderate inflation is desirable and preferred to deflation
4)Immortalize national heroes, in this case heroines, celebrate their braveness n enlighten the younger generation(and posterity) on the role(s) these women played and motivate them to followsuit
5)Bridge the obvious gender inequality trend of using male heroes on previous nigeria's currencies (its now 35% inclusion of females) *tongue out*.

How does the nonsense u wrote above help the common man, how does it reduce the poverty level?. Indeed Nigerians are the cause of their problems, imagine the lopsidedness in his steeewpid writeup. Arrant NONSENSE

This Government is indeed clue less as they are about trippling Nigerians problems and consolidating on the once they have already created

nosa gold:

Bros stop hating on my comments cuz it doesn't also change the price of garri in the market

lol

Ola one:
Care to elaborate, ma?

Why should I? Isn't that what this N5000 note is supposed to help accomplish?

I don't like the idea of insulting people but today is an exception,@ SUPER 1759 you are a big fool with no sense of reasoning.The CBN spent billions of naira producing coins yet we are yet to see people spend it even MR Cbn(SlS) can't dip his hand into his french suit and produce a 1naira coin but yet they will saying JARGONS and some MORONS will be hailing them.Let's do a small survey on nairaland to find out how many people have a coin in their wallets and handbags? Ur guess is as good as mine,a country where we keep having policy sommersalt.I am sorry for this country,and they say people should stop checking OUT of naija!You don't have to be an havard PH.D holder to know that this is a wrong move.I don't even know wat to say. In short abeg when VISA LOTTERY GO START!!!!!our leaders have gone mad o

Okija_juju: Nwokem... That news is fake..

You cant have a 5000 Naira denomination without first having a 2000 Naira denomination..

Also if your reason why the 5000 naira note is bad idea is because 'Some cant afford to spend 1000 Naira a week', then you have no business discussing the demerits of the 5000Naira note let alone opening an online thread about it...

MODS!! WHY DO YOU TAKE DELIGHT IN PUTTING USELESS THREADS ON THE FRONTPAGE?! We have already tackled this 5000 Naira issue over a month ago..

fish! U dey listen 2 news at all? Abi dem 4 cum knock 4 ur door first b4 u go knw wetin dey hapen 4 ur country?

INFLATION WILL RISE AGAIN...THANKS TO THE STUPID GOVT OF NIGERIA

If you have not herd, he also said that N5, N10 and N20 will be change to coins; tell me where we use coins in this country. Even bank don't have coins. Useless leaders that think with their mouth and said that their youth are not qualify graduate

Loll..it will be easier for politicians 2 carry their shared loot, instead of big ghana must go bags, d load becomes less for them...its for their selfish intrests, get it straight they don't care what happens 2 nigerians

Welcome to inflation, welcome to Zimbabwe (1 million Zim dollars = 1 bottle of coke; 5 wraps of fufu will be N1 million)! This is really Sanusinomics, abi na Okonjo-Iwealanomics? Everyone will be a millionaire. Sebi Sanusi criticize Soludo then. Why is he going back to coins? Wetin small pickin climb tree to see, old man don see am tee tee where im siddon for chair!

Dis country no go kill person o! Dem no want giv us headlight wey dey point a direction wey make evrybdy jolificate o!

Wetin we want use dis one do na? Wey dem 4 dey look 4 a way 2 revive our dead one naira and 50kobo coins make our naira 4 dey gain value back, dem dey think odawise. Chai! Chai!? Chai!!! Dis our leaders dem dey think wit dea head upside dwn o!!!

5thsnd naira note? Wit 5naira nd 10naira turned into coins? OMG! What has happened 2 dose days of old? When our naira was hiking abreast d USD, when my grandpa would buy a plot land 4 just 5naira, when our naira had value. When a man earned 200 naira as salary and is satisfied wit it, when u went 2 skul with 1 naira coin and bring change back home! Has those days been 4gotten nd it's gudness thrown into d unending abyss of our cruelty and corruption? That all we could think of right nw is travelling far away 4rm it? What has hapend 2 our valued naira dat our leaders has decided 2 abandon 4 a valuless currency?

My fellow nigerians dis calls 4 a uprise if we dnt want 2 someday exchange 1USD for 5 thousand naira...Dis country no go kill person o! Dem no want giv us headlight wey dey point a direction wey make evrybdy jolificate o!

Wetin we want use dis one do na? Wey dem 4 dey look 4 a way 2 revive our dead one naira and 50kobo coins make our naira 4 dey gain value back, dem dey think odawise. Chai! Chai!? Chai!!! Dis our leaders dem dey think wit dea head upside dwn o!!!

5thsnd naira note? Wit 5naira nd 10naira turned into coins? OMG! What has happened 2 dose days of old? When our naira was hiking abreast d USD, when my grandpa would buy a plot land 4 just 5naira, when our naira had value. When a man earned 200 naira as salary and is satisfied wit it, when u went 2 skul with 1 naira coin and bring change back home! Has those days been 4gotten nd it's gudness thrown into d unending abyss of our cruelty and corruption? That all we could think of right nw is travelling far away 4rm it? What has hapend 2 our valued naira dat our leaders has decided 2 abandon 4 a valuless currency?

My fellow nigerians dis calls 4 a uprise if we dnt want 2 someday exchange 1USD for 5 thousand naira...Dis country no go kill person o! Dem no want giv us headlight wey dey point a direction wey make evrybdy jolificate o!

Wetin we want use dis one do na? Wey dem 4 dey look 4 a way 2 revive our dead one naira and 50kobo coins make our naira 4 dey gain value back, dem dey think odawise. Chai! Chai!? Chai!!! Dis our leaders dem dey think wit dea head upside dwn o!!!

5thsnd naira note? Wit 5naira nd 10naira turned into coins? OMG! What has happened 2 dose days of old? When our naira was hiking abreast d USD, when my grandpa would buy a plot land 4 just 5naira, when our naira had value. When a man earned 200 naira as salary and is satisfied wit it, when u went 2 skul with 1 naira coin and bring change back home! Has those days been 4gotten nd it's gudness thrown into d unending abyss of our cruelty and corruption? That all we could think of right nw is travelling far away 4rm it? What has hapend 2 our valued naira dat our leaders has decided 2 abandon 4 a valuless currency?

My fellow nigerians dis calls 4 a uprise if we dnt want 2 someday exchange 1USD for 5 thousand naira...

Minimum wage will be 4 pieces and you give 2000 Naira change. If and when minimum wage is implemented.

jst imagin askin me fo 5000 naira change

When we had 500 Naira note introduced, people cried, it will create massive looting. When we had 1,000 Naira note introduced, people cried, it is anti people, people will carry money in bags, now 5,000 Naira note is to be introduced, and the noise continues. Who said corruption or looting only occurs when we have small denominations? People must just talk.

franksunny: If you have not herd, he also said that N5, N10 and N20 will be change to coins; tell me where we use coins in this country. Even bank don't have coins. Useless leaders that think with their mouth and said that their youth are not qualify graduate

Whats this? Which country doesnt have coins in their currency? Abegi.

I 1da what the introduction of this note would. Do to the economy in terms of improvement? Inflation?

WHAT DO I SAY, DO WE BEGING BY STARTING OR DO WE START BY BEGINING...? WHICH WAY NIGERIA

I think our CBN governor is now bereft of ideas, maybe he has achieved his mandate of Floating the Islamic bank, else how can he formulate policies that does not in anyway support the functions of the CBN.

This is kind of a really stoopid thread.
And all the arguments make no sense either. There's nothing hypothetically wrong with a N5,000 notes. Price of goods won't increase automatically because people have to carry coins. Don't they spend coins in Europe and the USA?

Besides, there is the cashless policy. So what does it matter what notes are out there? Better get yourselves ATM cards or Mobile Money accounts, and stop carrying money around in Ghana-must-go bags.

Naijas

smh. Hopeless and thoughtless people. The worst finance team in the world is in GEJ's government. The guy is dumb seriously. smh. Next president has to understand something about the economy or currency. It seems these 3 blind mice are just stumbling and applying very retarded and illiterate policies. WTF. N20 coin?.

It's BIG business for counterfeiters, especially the banking sector. I once withdrew N1K note from ATM. I wonder what will happen when N5k Note is introduced. How many of the counterfeit N5k notes will be stuffed into ATM. God help us.

The intro of N5k notes will help in rubbishing the already frustrated cashless policy. People will be encouraged to hoard money in the house for quick businesses.

How does the nonsense u wrote above help the common man, how does it reduce the poverty level?. Indeed Nigerians are the cause of their problems, imagine the lopsidedness in his steeewpid writeup. Arrant
NONSENSE

@ Tolu001 : SLS is CBN governor n not DG of NAPEP, and go read d fxns of d central bank,one of which is issuing/minting of currency...if u re concerned abt poverty reduction, go talk to DG of NAPEP, Sanusi is doin wat he was hired to do whether u consider it relevant(or not) is not important...as d 5000 notes will be circulated wen it wl be circulated...
Do away wt ignorance , it is d hallmark of fooolllssss!!!

tolu001:

How does the nonsense u wrote above help the common man, how does it reduce the poverty level?. Indeed Nigerians are the cause of their problems, imagine the lopsidedness in his steeewpid writeup. Arrant NONSENSE

2mch: smh. Hopeless and thoughtless people. The worst finance team in the world is in GEJ's government. The guy is dumb seriously. smh. Next president has to understand something about the economy or currency. It seems these 3 blind mice are just stumbling and applying very retarded and illiterate policies. WTF. N20 coin?.

LOL. Everyone is an economist on NairaLand, even when their postulations doesnt make any sense.

Teebest82: Why are our leaders so stupid n senseless,creating a 5000 naira note?when some can't even afford to spend 1000naira in a week....i can't wait to leave this country before war breaks out

i wonder what will happen nxt

Koolking: It's BIG business for counterfeiters, especially the banking sector. I once withdrew N1K note from ATM. I wonder what will happen when N5k Note is introduced. How many of the counterfeit N5k notes will be stuffed into ATM. God help us.

The intro of N5k notes will help in rubbishing the already frustrated cashless policy. People will be encouraged to hoard money in the house for quick businesses.

So because of counterfeiters, they should not make N5k notes?
Chai