centje: i feel you aren't a female

berem: 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!

Paul John:

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?

dr.laykay:

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.

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.

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

dorothy111:
No, but you support the 5000 naira note just because the government said it cost more to produce those polymer note, which is a big lie. They are polymers, and it's very cheap, I can say it because I am a polymer chemist. In fact, the coins are more expensive than the polymer notes

i-smoke-weed:


reasons?

iykc2012: I remember when i was in Tanzania i changed $100.00 US current and i was given 147,000.00 Tanzania shillings, o boy i rejoiced thinking i could bougth a car. Immediately i went out 2buy Banana of N200 and i waz told 2,000.00 Tanzania shillings i left there 2recharge my phone of 1,500 and i waz told 10,500.00 then i realized it waz bcus of there 10,000.00 Shillings NOTE and 5,000.00 NOTE of Tanzania. Friends the whole 147,000 Shillings given to me waz collected back just like that. Fellow Nigerians pls let's stand and say no to this Policy bcus is going 2 rubbish our Currency.

gboss4sure: Chai. if the pic above is the pic of this 5k then is trash

Billyonaire: Stay with me. So are you saying it does not cost more than 50 Naira to mint a 50 Naira Note ?

PresGEJ:

Fellow Nigerians,

The introduction of N5,000 should be applauded and supported by every well-meaning and intelligent Nigerian. To my chagrin, I see only a few reasonable and smart people on this thread so far.

This reminds me of my days as a lecturer. Let us start with a definition of term: "Cashless" means LESS CASH - It is pity that people who can sign-on to discussion forums cannot interpret a word as simple as Cashless.

Now, for application of the term: If I wish to pay out N10 Million (to further government work of course), I will need 100 bundles of N1,000.

With this brilliant CASHLESS policy of N5,000 notes, I will need only 20 bundles. 100 versus 20!!! Isn't this progress obvious enough?!!

Nay sayers will say that the 20 bundles will fit into agabadas and caps more easily, but that is beside the point.

My government and I should be applauded for making CASHLESS a reality.

Long Live Nigeria.

Your Presido

kodred:




one tin pple dnt realy know is dat the govt dosnt tink abt d masses. they do wat they want when they want. im sure they have already produced the 5000 naira notes. true it wil cause certain difficulties in the economy bt it also hs its advantages yea. so me no fit shout dey protest wetin don dey system already....if they like sef dey shud mk 10000 naira notes sef na dem sabi......its not the intro of the 5000 naira notes that will cause inflation nd d rest bt our corrupt power holders

dorothy111:
Do you know the big nylon you bought for 10N, it is also made of polymer. The naira note is made to withstand heat and pressure, so they add calcium carbonate obtain from snail shell. Stop saying what you do not understand

iykc2012: I remember when i was in Tanzania i changed $100.00 US current and i was given 147,000.00 Tanzania shillings, o boy i rejoiced thinking i could bougth a car. Immediately i went out 2buy Banana of N200 and i waz told 2,000.00 Tanzania shillings i left there 2recharge my phone of 1,500 and i waz told 10,500.00 then i realized it waz bcus of there 10,000.00 Shillings NOTE and 5,000.00 NOTE of Tanzania. Friends the whole 147,000 Shillings given to me waz collected back just like that. Fellow Nigerians pls let's stand and say no to this Policy bcus is going 2 rubbish our Currency.

401kk:

I'm trying to understand the logic behind your statement. OK let me see if I can break it down:

The CBN spends 10 naira to mint a 10 naira note and twenty to minty naira note (I guess they also spend fifty naira to mint a fifty naira note too) notwithstanding that the polymer notes(5, 10, 20 and 50) all come in the same shape and sizes.
So, why would the cost of printing a 10 naira note be 10 naira(or more than), but the cost of printing the same note (in 20 naira) is more expensive?

And how is the CBN saving more money by printing 5000 naira note?

sureboykris: . Its this Ūя̲̅ kind of nonchalant attitude that is killing 9ja today. There is A̶̲̥̅ lot we can do if we come together n protest this new policy

Billyonaire: Are you saying it does not cost more than 50 Naira to mint a 50 Naira Note ?

centje: what about inflation and rejection of coins?

Billyonaire: They nylon is made of polythene or poly-ethylene and does not in anyway require the use of the catalytic enzymes used in the minting process. Its called polymer note for commoners to understand, it is not 100% polymer, Polymer is just a component in the minting process to enable it stay waterproof. So my humble question again is, Are you saying it does not cost more than 50 Naira to mint a 50 Naira Note ?

401kk: I'm yet to see reasons why Sanusi was made the CBN governor till today.

How many naira notes are we going to have?
5, 10, 20, 50, 100, 200, 500, 1000 and now 5000! That is 9 denominations of the naira!

401kk:
What is the difference between a ten naira note and fifty naira that would make the fifty naira more expensive to print than the 10 naira?
They come in the same sizes, the same weight, the same materials are used for minting them, or is there something special in the fifty naira note?

PresGEJ:


The US has 7 paper notes, Nigeria has 9. What is the big deal?!

Is it a sin to lead the US in at least one area?

Young man, have you passed WAEC yet? You don't sound smart.

Long Live Nigeria.

Your Presido

PresGEJ:


The US has 7 paper notes, Nigeria has 9. What is the big deal?!

Is it a sin to lead the US in at least one area?

Young man, have you passed WAEC yet? You don't sound smart.

Long Live Nigeria.

Your Presido