Why Banned The Old Currency - Politics - Nairaland
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| Why Banned The Old Currency by emeka213: 5:56am On Jun 02, 2007 |
 WHY ON EARTH WILL OUR GOVT THINK OF PUTTING A STOP IN THE OLD CURRENCY N50,N20,10,N5 FROM CIRCULATION.I WAS EXPECTING THE MONEY TO STILL BE IN CIRCULATION, THEN AS THE MONEY CONTINUE TO GO THE BANK EVERY NOW AND THEN,THEY MAKE SURE THEY DONT RELEASE IT ANY MORE.TO MY OPINION AS IT IS NOW THERE IS KNOW RESPECT ENOUGH FOR THIS SO CALLED NAIRA CURRENCIES. |
| Re: Why Banned The Old Currency by cuteass1(f): 12:54pm On Jun 05, 2007 |
Thats just absurd . . why Nigeria will always be Nigeria  Are they banned from the banks too?? If thats so, then they're not thinking straight. What do they expect peeps with the former notes to do?? Here in Norway, you can buy things with it, and if youwant a newer one, you could always walk to the bank and declare your request. And yes they'll grant it with a smile  |
| Re: Why Banned The Old Currency by Seun(m): 1:04pm On Jun 05, 2007 |
It's very sad that the CBN would choose to discontinue the old currency when 1) it's not necessary. 2) They spent money promoting useless coins, but failed to announce the discontinuation. |
| Re: Why Banned The Old Currency by Mamajama(m): 2:33pm On Jun 05, 2007 |
Have you seen how dirty Nigerian money can get? I think its a good idea to introduce the coin, remember we have lots of local traders in Nigeria that don't use banks. |
| Re: Why Banned The Old Currency by uchetobi(f): 2:38pm On Jun 05, 2007 |
heard that even the banks are rejecting it |
| Re: Why Banned The Old Currency by denex: 3:35pm On Jun 05, 2007 |
@MAMAJAMA I am certain you've long been out of this country. With all due respect. The situation on ground in Nigeria right now is that there are grave similarities between a Naira Coin and Leprosy. No body wants to touch it, no body wants to see it, nobody wants to have it, and nobody wants to know somebody that has it. And by the way why, why, why. Why mint a N2 coin? What can one N2 coin do that two N1 coins cannot? |
| Re: Why Banned The Old Currency by rowlandwhy: 4:18pm On Jun 05, 2007 |
do you know if the commercial banks are accepting these old notes right now? |
| Re: Why Banned The Old Currency by Mamajama(m): 4:36pm On Jun 05, 2007 |
denex it is only a matter of time people do not like change because it leads to inconvenience. but with time I think this will be a good strategy. in essence what can you buy in Nigeria today with naira coin? not even chewing gum. introducing this coin in my personal opinion is a good thing for the local traders that carry the vast amount of currency for their daily transactions. I for one never use coin and I just don't carry coins. |
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