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Nairaland Forum / Nairaland / General / Business / NACCIMA Proposes Naira For ECOWAS Single Currency (26728 Views)
ECOWAS To Implement Common Currency In West Africa – Official / NACCIMA Proposes Naira For ECOWAS Single Currency / Ecowas To Introduce Single Currency By 2020 – Ekweremadu (2) (3) (4)
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Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Nobody: 7:25am On Aug 18, 2014 |
so many illiterate in nigeria. typical nigerian graduate. "Ghanian economy is stronger than Nigeria's because 1$=3 CEDI" educational system has failed us 10 Likes |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Nobody: 7:27am On Aug 18, 2014 |
F117A: Sorry,i don't want this.We need the pressure, Nigerians can be complacent. If the pressure cannot come willingly like in Japan let it come like in Germany and Brazil. Brazil revalued their currency 7 times before they could sustain it. 2 Likes |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Nobody: 7:28am On Aug 18, 2014 |
CFCfan: The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) arm of the Organised Private Sector (OPS) has called for the adoption of Nigeria's "Naira" as the single currency for ECOWAS sub region. if this happen, i swear internet fraud will die slowly 2 Likes |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Fourwinds: 7:28am On Aug 18, 2014 |
raumdeuter:d exchange rate was 85 naira to one dollar and fuel pump price was 19 naira 1 Like |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Iriruaga100(m): 7:30am On Aug 18, 2014 |
We dnt need to revalue the naira or use it as a currency for Ecowas. The people in Naccima are dullard..... We need to revamp our manufacturing sector to pave the way for industrialization. Single currency for ecowas will affect nigeria's economy. The japanese yen is all most at par with the naira nd their economy is doing great. We must also learn frm the crisis in europe with the single currency. 1 Like |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Tonylyte(m): 7:31am On Aug 18, 2014 |
Harrybanty: I don't think Naira should be used, they should use a new joint currency. You expect Ghana to give up their currency? Or the illetrates of Liberia? They would say Nigeria also brought Ebola.Who is ghana to oppose naija? U dont knw who u are bro, wake up oh ye sleeping giant..ya cntry is the first and the only cntry in the world to liberate another country and restored total peace till date. 1 Like |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by RatandBot(m): 7:32am On Aug 18, 2014 |
ffhj |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Nobody: 7:32am On Aug 18, 2014 |
ashezbrown: revalued currency, aboki nor go gree, jst imagine a full day work, na only five naira he carry go house. Minimum wages will be around four(4) thousand naira, hmmmm range rover sports will be 500k, but to get d money will be D;I;E...They should think of what 4000 Naira could buy in the 80s, same it would buy when revalued now. The only wahala be say Some people no go fit call themselves millionaire or Billionaire again until they rise to the feat again 3 Likes |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Eldavido1: 7:34am On Aug 18, 2014 |
Adindupeter: "Nigerian currency for over 30 years. In 1980 what Who led the country before 1986, was it the south? 1 Like |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Okijajuju1(m): 7:53am On Aug 18, 2014 |
STupid Idea.. Revaluation = Death of the Naira Value. |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by eunisam: 7:54am On Aug 18, 2014 |
make naira same with dollar |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Tunjasko(m): 7:54am On Aug 18, 2014 |
donnypool: it z NONSENSE cos dere z no way Ghana Nd their folks would agree |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by fiverrwin(f): 7:55am On Aug 18, 2014 |
Imagine the former power of Naira. How I wish we could be there again. |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Haggadah: 7:55am On Aug 18, 2014 |
Another one world movement God help us |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by rhymz(m): 7:58am On Aug 18, 2014 |
For now we do not need such currency amalgamation cos it will only benefit European countries like France that has practically turned francophone countries into their extensions where they can dump their own manufactured goods and dictate the politics of these countries. Nigeria will only turn to their dumping ground as well. We are better off going it alone period. ECOWAS zip a water of time |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Nobody: 8:02am On Aug 18, 2014 |
they're just being selfish... |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by jeflexy(m): 8:02am On Aug 18, 2014 |
.. |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Nobody: 8:07am On Aug 18, 2014 |
One Currency.. End Time 2 Likes |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Kossyne(m): 8:09am On Aug 18, 2014 |
Firstly, let me correct an impression. The real value of a currency does not lie in the quantity or denomination but in its purchasing power. If #1 can buy a shirt and $3 can buy the same shirt, then #1=$3 (ceteris paribus). Now, the idea of making our currency strong or @ par with the dollar is a good idea, but as every other thing is done in this country, we are going about it the wrong way. The first step is knowing how and why our currency got to its current pitiable state. The two major reasons are unfavourable balance of payment and government debt. Currency devaluation cannot be discussed in isolation without its sister "inflation". Solving one entails solving the other. Stabilizing or salvaging the current state of the naira will not be achieved by using the naira as a uniform currency. #1. The first step to achieving sustained stability of the currency can be achieved by encouraging exports and reducing over reliance on imported goods ( this will go a long way in reducing the BOP deficit) ,#2. reducing the amount of naira in circulation. #3. Reducing Capital flight. #4. Restruction our economy to be production oriented. Finally, I doubt if this proposal will see the light of the day cause some top politicians who stashed millions of dollars away in foreign account will be on the losing side. 9 Likes |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by godman01(m): 8:13am On Aug 18, 2014 |
Tunjasko: Nd would oda countries agree or accept d demand....misplaced priority....instead of dem to discuss wayzz of restructuring Nd making naira stand out....dey are busy talking nonsense |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Sam0(m): 8:18am On Aug 18, 2014 |
IBB is responsible for all this during his structural adjustment programme policy 1 Like |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by oge4real(f): 8:27am On Aug 18, 2014 |
manitobor: Adopt the naira? I laugh! NACCIMA is just trying to sound patriotic cos everyone knows that the Naira is the most unstable in the region. Sorry for you. |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by solara: 8:38am On Aug 18, 2014 |
donnypool: so many illiterate in nigeria. I believe U are the Illiterate. With the bolded U mean Ghanian economy is also stronger than Japanese economy because 1 CEDI = 28.28 Japanese Yen. ewu!!! 2 Likes |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by essyisa: 8:45am On Aug 18, 2014 |
Opin aye tii de tan... 1 Like |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Lexusgs430: 8:46am On Aug 18, 2014 |
Which Naira? |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Nobody: 8:47am On Aug 18, 2014 |
Either somebody is trying to embarrass us or they are trying to scupper the single currency 1 Like |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by Nobody: 9:01am On Aug 18, 2014 |
i love those 80's days |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by manitobor(m): 9:03am On Aug 18, 2014 |
F117A: you must be an illitrate. Go and jump into the atlantic ocean. BI TCH! |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by manitobor(m): 9:05am On Aug 18, 2014 |
oge4real: Go and hug a wet transformer shi thead! |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by MikeBetty(m): 9:13am On Aug 18, 2014 |
PastorOluT: Hmm, single currency for west, soon it will be for Africa as a whole then the world!hmmmmmmmm, my bros after dat who knw what next? |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by uzolexis(f): 9:15am On Aug 18, 2014 |
One step at a time Naccima,these countries that have a high VAT have it for a reason,you dont expect them to reduce it overnight, Nigeria has a stronger economy so can afford to have a lower vat,we should try to integrate our economies 1st. We should be a common trade zone,have the same trade policies etc. Also for francophone countries,their france cfa is tied to the euro and France still has a say in their economy so it would be really difficult to pull them along. 2 Likes |
Re: NACCIMA Proposes Naira For ECOWAS Single Currency by oge4real(f): 9:17am On Aug 18, 2014 |
manitobor: |
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