.

@billoynaire, Hw much did Nigeria saved 4rm d introduction of N1,000. Abeg this policy wil only benefit d Minority

.

The masses should with immediate effect inform NLC and TUC, so that we can start the mass protest and strike, as CBN and FG want to suffer the masses. 5000.00 will surely bring hardship to Nigerian. We should all disagree with these. The introduction of coins to 50.00 will make every thing in the market to be sold at 100.00. Some thing must be done now before is too late. God bless Nigeria

I misplaced 1000 nairra note this morning...I come dey imagine say na 5000 naira note

Billyonaire: CBN spends more than 10 Naira to mint a single 10 Naira note.
CBN spends more than 20 Naira to mint a single 20 Naira note.

So by introducing N5000 there will be massive savings for Nigeria. I am totally in support of introduction of N5000 but against conversion of lower denominations to coins.

Blacksmiths convert our coins to fashion items and sell at exorbitant prices. 1 Naira coin could be smelted into 2,000 Naira ear-ring. This makes coins endangered.

u ar stupid,how much is GEJ Even paying you?

nense Nigerians should think of something better

kodred: perhaps we are all in a haste to judge quickly.....lets see hw it goes, afterall evrytin has its advantages nd disadvantages

If we watch and let them do as they wish, it'll be too late to correct the action. We better criticize it now and try our best in not making it come through.
Most countries that have strong economy has lesser denomination, and majority of the countries with poor economy have very high denomination, which is the part we're towing right now.
What else do we need see before we know this action will cause catastrophe to our economy?

Agiliti:

thats the dumbest thing i've ever read..think before you type man

Its like Poverty is your surname, see the way you are crying about pure water price after introduction of coins.

Chai. if the pic above is the pic of this 5k then is trash

I was one of those who thought Sanusi Lamido was an intelligent man but he have proved me wrong. Actually, I' am now seeing him as a complete fool. Someone should check whether the man have clean educational qualifications for that job. How can he be talking about introduction of N5,000 at this time?. If anything what he should have done is withdraw N1,000 note, N500 note, N200 note, N100 from circulation, leaving N50 note as the biggest currency in the land. This will effectively force everybody to go cashless without causing unnecessary hardship to Nigerians.

Centinno01: u ar stupid,how much is GEJ Even paying you?

Poor man, dont cry. The coins wont be introduced, so price of pure water will remain stable. The N5000 will however help Nigeria save money.

I used to be a staunch supporter of Sanusi when he got to the office of CBN Governor and kicked off the reforms in the banking industry but I now know better.

He is just another one of the big government bureaucracy run at the centre called FGN. They have so much power and money but they are blinded by their greed and lack of basic knowledge of running this country......the FGN is our own natural disaster in Nigeria. I read a funny statement here on nairaland that "we would not die as virgins as the government will PH*****K us all up at one time or the other" Funny and indecent but true.

1. CBN is on the loose and they alongside other government officials will be held to account very soon by the masses. I see another occupy naija coming soon. People are dying of poverty and they are thinking of 5k note!!!

2. CBN's banking reforms has resulted in tighter credit, massive job losses and economic downturn, he denied that he had an agenda to sell the banks to his cronies. History has shown he was lying through his teeth.

3. CBN's 5k note is at variance with the cashless Nigeria they are trying to push (Cashless Nigeria in my opinion is good but has it's limitations hinged on lack of infrastructure)

4. CBN should tell us why the coins are no longer available after the huge costs of production.

5. Sanusi is clearly a religious extremist and is not ashamed to demonstrate this using the instruments of the state

Clearly FGN's progress is just too slow to keep Nigeria running and together as a corporate entity. Imagine of not for the coalition of civil society that organised Occupy nigeria , the subsidy thieves will have made a way with the monies and Nigerians will have had to pay more at the pumps.

I watched the interview of the CBN corporate affairs guy on channels yesterday and he just did not make sense but went on talking about achievements in the power sector and infrastructure and T1! He did not have anything reasonable to say in defense of the 5k note. I think we should occupy the home of anti people government officials.

Kpac: Power to Change
The govenor of Ekiti state once said "To change this country,you have to be in power"
I have been having some visiting headache since I got the news of the concluding intentions of CBN....
I have carefully studied these things in my capacity and I smell a conspiracy between GEJ,Ngozi and Sanusi....First,if 5000 notes is released,then its a step to increase fuel price in the nearest future,its another step to make huge withdrawals from the foreign reserve,its also a step to borrow a huge amount from World bank,which most probably have been nearing final approval.....Large currency like 5000 naira makes these operations easy and it would make their transactions cheaper....... And to the common man,price of every goods would increase,traansport fares etc...The price of pure water would firm at around 20 naira,the smallest sized bread would be 100 naira.
Don't forget that,the inroduction of 500 and 1000 naira was what made maggi sold for 2 for 5 naira(from 50k), chewing gum,sweets sold for 5 naira each(from 1 naira) etc just because traders was looking for every means to avoid collecting coins of 50k,1 naira and 2 naira.
All part of the Nigerian trade in a common man market eradicated the need for collecting coins by increasing their goods cost to meet up the nearest Note,which was 5 naira,as a result of these,coins disappeared from circulation.
The same would happen if these 5000 note is allowed by Nigerians....The hardship of Nigerians would increase significantly and no one would be spared.
I call on all Nigerians to halt these move....It is a calculation of gain to the government and its close allies and hardship to the masses which makes up more than 85% of the population.

50 gbosa for you.u got it absolutely correct.

Billyonaire: Poor man, dont cry. The coins wont be introduced, so price of pure water will remain stable. The N5000 will however help Nigeria save money.

pls can u explain how it will help nigeria save money?dont tell me u too bought that daft theory of the cost of money printing?i know u are smarter than that anyway

clearly now it is obvious that gej and sanusi thinks everyone earns hundreds of thousand every month so they should help us make it easier to carry around.dumb fools

It is no longer news that CBN plans to introduce N5,000 note by January 2013 .

The crux of the matter is the implication that this will have on our individual lives and national economy. One of the indices of a GROWING INFLATION, is the creation of Higher Local Currency Bill, NO matter what CBN or the Managers of our economy say, they know too well in their minds.

Ask them in Zimbabwe!
...

We will soon be buying things now sold for about N3,000 - N4,500; for N5,000.00!

It is terrible!

Why are we not emulating Ghana where they just redenominated their currency? Why can't we do same to manage our economy?

The answer is clear; if we redenominate THEY will lose the money already stolen and kept abroad. For instance if we redenominate by cutting down two zeros, N1,000 becomes N10 while N100 becomes N1. In a similar way one dollar will exchange for N1.55k. Therefore $100m will be N1.5m. Naira will become stronger against many currencies and stealing money abroad will become unattractive.

Why are we going for higher denomination when CBN is spending billions to promote a cashless economy?

Join to say no to introduction of higher denomination of naira . Let's save our economy. Pls rebroadcast untill it gets d necessary attention. If we have 2 re-occupy Nigeria or CBN (this time), let's do it....even if ₪o† for ourselves then let's do it for d future of our children and their unborn children!! Before they turns us to millionaires that can't buy bread.

mrrock: I was one of those who thought Sanusi Lamido was an intelligent man but he have proved me wrong. Actually, I' am now seeing him as a complete fool. Someone should check whether the man have clean educational qualifications for that job. How can he be talking about introduction of N5,000 at this time?. If anything what he should have done is withdraw N1,000 note, N500 note, N200 note, N100 from circulation, leaving N50 note as the biggest currency in the land. This will effectively force everybody to go cashless without causing unnecessary hardship to Nigerians.

U just made a good point my bro...i dont knw where dis country is heading to....d question i asked mysf when i first read about dis introduction of 5k note is "IS DIS D SOLUTION TO NIGERIA PROBLEMS"?

God help us.

This prototype N5000 note is funny. The designer tried. Just that it's a modification of N50 note, the pictures overlap some texts and the note is signed by the then Charles Chukwuma Soludo. Lol

i cant wait for 2015 for this gej to get out of that seat ,he seems very very confused,why is he creating problems for himself knowing the kind of oppsposition ppl have against him.

Remii: i beg to disagree with this officer, cashless will better be encouraged by scrapping of N1000 and N500 instead of making cash carrying easier with N5000 notes.

Brilliant

Billyonaire: CBN spends more than 10 Naira to mint a single 10 Naira note.
CBN spends more than 20 Naira to mint a single 20 Naira note.

So by introducing N5000 there will be massive savings for Nigeria. I am totally in support of introduction of N5000 but against conversion of lower denominations to coins.

Blacksmiths convert our coins to fashion items and sell at exorbitant prices. 1 Naira coin could be smelted into 2,000 Naira ear-ring. This makes coins endangered.

I think our coins are made of alloy of copper and nickel. They are cheap metals, though useful as fashion items, and can't be sold more than 10naira, so stop lying

kodred: perhaps we are all in a haste to judge quickly.....lets see hw it goes, afterall evrytin has its advantages nd disadvantages

U must have said dis wen N1000 was freshly introduced which later led to inflation.I know u wil say the same tin after this has resulted in inflation nd d government starts planning to introduce N10,000 note.
Y not let's find a way to stop this mess instead of trusting this government that doesn't think abt u.

dorothy111:
I think our coins are made of alloy of copper and nickel. They are cheap metals, though useful as fashion items, and can't be sold more than 10naira, so stop lying

So you support conversion of the lower notes to coins I guess

sureboykris: Î feel we all shud rise n fight this new denomination. Its only going to increase hardship for d average man. The NLC is d major organized body that has d power to fight negative govt policy. This is  ‎​​ for them to speak up. Their job is not only to clamour for increased salary. Introducing this 5k n changing others to coins will only lead to further inflation. This is so common sensical. Why can't everyone c it

are you the only one in naija that doesn't know that NLC has been bought over by the govt?. The other day i saw NLC and TUC presidents champaigning for a governor for a second term.....may God help Nigeria

GEJ,SAnusi and NGOzi have gud plans 4 Nigerians.he has said it times without noba,he will b d best president in nja.
Keep ur fingers crossed,let wait till we cross d bridge.

onatisi:
pls can u explain how it will help nigeria save money?dont tell me u too bought that daft theory of the cost of money printing?i know u are smarter than that anyway

I am against conversion of notes to coins, but Introduction of N5000 will buffer the near-Cashless Policy. The introduction of the near-cashless policy was to enable us reduce the number of notes in circulation and that is the same thing that the introduction of N5000 will do. Instead of 5 pieces of N1000 notes, instead of 10 pieces of 500 Notes etc, you simply carry a piece of note. That is a wonderful policy if viewed pro-economy analytical mindset.

Kpac: Power to Change
The govenor of Ekiti state once said "To change this country,you have to be in power"
I have been having some visiting headache since I got the news of the concluding intentions of CBN....
I have carefully studied these things in my capacity and I smell a conspiracy between GEJ,Ngozi and Sanusi....First,if 5000 notes is released,then its a step to increase fuel price in the nearest future,its another step to make huge withdrawals from the foreign reserve,its also a step to borrow a huge amount from World bank,which most probably have been nearing final approval.....Large currency like 5000 naira makes these operations easy and it would make their transactions cheaper....... And to the common man,price of every goods would increase,traansport fares etc...The price of pure water would firm at around 20 naira,the smallest sized bread would be 100 naira.
Don't forget that,the inroduction of 500 and 1000 naira was what made maggi sold for 2 for 5 naira(from 50k), chewing gum,sweets sold for 5 naira each(from 1 naira) etc just because traders was looking for every means to avoid collecting coins of 50k,1 naira and 2 naira.
All part of the Nigerian trade in a common man market eradicated the need for collecting coins by increasing their goods cost to meet up the nearest Note,which was 5 naira,as a result of these,coins disappeared from circulation.
The same would happen if these 5000 note is allowed by Nigerians....The hardship of Nigerians would increase significantly and no one would be spared.
I call on all Nigerians to halt these move....It is a calculation of gain to the government and its close allies and hardship to the masses which makes up more than 85% of the population.

i applaud Ūя̲̅ assertions here but;-

Nigerians na siddon look critics dem be

Believe me, CBN, GEJ anϑ Okonjo will release this N5000 note, increase fuel price as u said anϑ everyother thing dem wan do, but nothing will happen.

Mark my words: NOTHING WILL HAPPEN.

Abi ηo be naija again. Mtcheeu!

lacasa:


i applaud Ūя̲̅ assertions here but;-

Nigerians na siddon look critics dem be

Believe me, CBN, GEJ anϑ Okonjo will release this N5000 note, increase fuel price as u said anϑ everyother thing dem wan do, but nothing will happen.

Mark my words: NOTHING WILL HAPPEN.

Abi ηo be naija again. Mtcheeu!

i think u are right,i dey go sleep sef

HQ: Imagine walking up to a Recharge Card vendor with a 5,000 note and buying N400 MTN card.

and what of entering a public bus and you wanna pay the conductor 50naira.you bring out 5,000 naira note.I swear that conductor will give me a dirty slap!

KILLING THE CITIZENS SO THE ECONOMY CAN LIVE....