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Nairaland Forum / Nairaland / General / Politics / #5000 Note (932 Views)
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#5000 Note by klechie: 1:18pm On Aug 28, 2012 |
Sanusi is at it again. #5000-what an inanity. I strongly believe that policies should reflect contemporary situation. His islamic banking concept faced a lot of criticizms after which he introduced cashless society. Now #5000 note. Perhaps we need to consider the inflationary tendency of this policy. Nothing increases by a naira or 2 again in Nigeria. We mosty experience #20 or more increment in price. Even the discount houses that claim to accept coins hardly issue it when you have coins balance with them. For crying out loud, where was he when Soludo tried removing zeros from our currency? Look at Ghanaian economy. Besides inflation, one can now carry a hundred thousand naira about. Was he not the one that introduced cashless society? What is the point of connect? What are the implications on our banks? Why must he use error and trial method in our economy? If i do this, this might happen. Yes!yes! Let me try it. Dekko the crisis in our banking sector with workers being laid off on a daily basis. Countries that once introduced high currencies are trying to wipe them out while the reverse is the case here. What has higher denomination got to do witi the contemporary problems in our economy. I am very sure that he is aware that Nigerians detest coins. Why producing something that nobody will consume? Where are the #1 and #2 coins introduced? Now he wants to introduce higher coins-meaning nothing will sell for #5 or #10 again. Perhaps he need to study Zimbabwe. |
Re: #5000 Note by Callotti: 1:23pm On Aug 28, 2012 |
I hope all this will not affect my vacation to Nigeria o! I don wanno be marooned on that Island of Death! |
Re: #5000 Note by klechie: 12:17pm On Aug 29, 2012 |
u have nothing to worry about. It's Naija. We will always find a way out. I just love this country. The happiest people on earth despite arrant nonsense policies in the midst of indigence |
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