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Nairaland Forum / Nairaland / General / Business / CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics (27958 Views)
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Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Ventura1: 6:57pm On Nov 22, 2022 |
But these traders like the currencies produced by the banking system they don't trust? Kindly advise them to return to trade by barter or use of cowrie shells. MiaBeer: |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by coolatlantic: 6:58pm On Nov 22, 2022 |
This is serious However you can learn how to create charts in Microsoft Excel Check my signature for details 2 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by MiaBeer(m): 6:59pm On Nov 22, 2022 |
Ventura1:Some of them are related to you as well. Do the needful for them as well. Lol! |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Tareq1105: 7:00pm On Nov 22, 2022 |
Pwettylinda: You're very stupid for that comment. I advise you leave the platform if you don't have anything constructive to say. We're here talking about serious issue that is crucial to our economy and well-being and you're typing rubbish. Take the truth and that's all politicians spends looted money including your Saint Obi. Since this campaign started tell me the source of the money of your candidate? Na hin salary e dey spend? Keep deceiving yourself at whatever age you're. Nonsense talk. #200 should be the highest currency denomination. This will encourage transactions to be done electronically thereby making funds transfer to be trailed. It would reduce corruption. CBN should fast track it and the earlier we embrace eNaira the better for our economy. 3 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Dongyi123: 7:01pm On Nov 22, 2022 |
The CBN should scrap the #1000 and #500 denomination. Let #200 be the highest currency denomination in circulation. 4 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by uvie66: 7:04pm On Nov 22, 2022 |
I am shocked to hear what is coming out of this Man's mouth, how can he compare a poor country to a rich country, this is like v unlike. The sole reason people carry naira notes in thousands is solely because of inflation. One can hardly see anything priced at 20 or 50 naira notes. a loaf of bread in the UK can still be bought for 50p while in Nigeria it is usually #500 and above. 3 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by uvie66: 7:05pm On Nov 22, 2022 |
uvie66:.... comparing like v unlike...... |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by uvie66: 7:06pm On Nov 22, 2022 |
Dongyi123:....that means we will hold #100000 in Ghana must go.. |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by uvie66: 7:09pm On Nov 22, 2022 |
MadamVanessa:.... the thing weak me how one compare a currency that is on a ratio 1: 850 |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by kennyz247(m): 7:11pm On Nov 22, 2022 |
IranianSea:na Ewo malam u bi oo |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Tareq1105: 7:12pm On Nov 22, 2022 |
uvie66: I agree with you but I want you to know that these higher denomination were partly responsible for inflation we have today. Higher denomination killed #5, #10, #20, and coins. Some keep #1000 and #500 to satisfy their ego. At parties, people used to spray #20 , but today it either #500 or #1000. Let #200 be the highest currency denomination and I bet you Naira will regain its value and respect. 4 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by dondave61(m): 7:16pm On Nov 22, 2022 |
kennyz247:Olodo, what is misplaced about this priority?? ��♀️ |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by BigBashiru: 7:16pm On Nov 22, 2022 |
thebosstrevor1: The price of something is N6980 they will tell you "just make it N10,000" lol |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by oneMalik: 7:19pm On Nov 22, 2022 |
yes ! but let's start somewhere . chariisGRACE: 1 Like |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by BigBashiru: 7:19pm On Nov 22, 2022 |
Tareq1105: Go Market. The price of something is N6980 they will tell you "just make it N10,000" lol....or if the landlord wants to increase rent from N800,000....he won't consider N835,000 or N847,350 he will just increase it to N900k straight or even N1million. 4 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by BigBashiru: 7:20pm On Nov 22, 2022 |
uvie66: Why do you need N100k in cash?? 4 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by oneMalik: 7:20pm On Nov 22, 2022 |
Excellent idea ! you want big transaction ? Go Cashless . 5 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Nobody: 7:22pm On Nov 22, 2022 |
Less circulation of 500 and 1000 bills prompts for more online transactions….banks will benefit more from incessant extra charges hmm |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by BigBashiru: 7:22pm On Nov 22, 2022 |
Tareq1105: I actually agree with you on making N200 the highest denomination....nairalanders make una write cbn |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by oonyeoma50: 7:22pm On Nov 22, 2022 |
This is a good policy, anything that will move our Country forward is all we want. God bless President Buhari, God bless CBN Governor, God bless Federal Republic of Nigeria 2 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by IMASTEX: 7:22pm On Nov 22, 2022 |
Christane:How will it work when the value of the Naira is worthless because of poor governance, policies and corruption. #5, #10, #20 completely gone and #50 currently on it way out. And lastly, they (the politicians & cbn) will print for themselves, share dollars, etc. |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by ufine200(m): 7:25pm On Nov 22, 2022 |
If u want to use large amount make use of the electronics Let embrace cashless 2 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by BestMan001: 7:29pm On Nov 22, 2022 |
Fr33born: True |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Nobody: 7:30pm On Nov 22, 2022 |
MadamVanessa: You are outdated. Now these people will learn how to use online banking. So because some people can't use online banking, we shouldn't progress 3 Likes 1 Share |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by omoadeleye(m): 7:32pm On Nov 22, 2022 |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Nobody: 7:32pm On Nov 22, 2022 |
IMASTEX: Theh have already explain, how it will work in the article. Also no politician can print money as they like, even cbn cant print money as they like |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by uvie66: 7:34pm On Nov 22, 2022 |
Tareq1105:I don't understand, how can the currency gain value if the economy is solely based on oil exportation, and most other items are imported, let me lecture you, I am in my late 40s and can still remember when naira was on the same parity with the pounds. Back then there were no tokunbo cars, TVs, or footwear. All these items were manufactured/assembled in Nigeria by Peugeot/VW, Leanerds/Bata, and Philips/National, we also had Nigeria Airways. But now all these products and services are being provided by foreign countries. So it is natural that our naira will depreciate I don't want to even delve into the education or health system which is provided by foreign countries. 3 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by BABANGBALI: 7:36pm On Nov 22, 2022 |
What happened to our coins? Countries like the US, UK and Canada are still making use of coins 2 Likes |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by uvie66: 7:37pm On Nov 22, 2022 |
BigBashiru:... because if I go to a strip joint I do not spray the dancers through POS...you happy now. 1 Like |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by wasi9ice: 7:37pm On Nov 22, 2022 |
I knew it would eventually get to this point, the money will be scares . But it's good anything to deal with vote buying is welcome 1 Like |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Steve2626(m): 7:40pm On Nov 22, 2022 |
This is will greatly affect POS agents. That's more jobs will be lost. |
Re: CBN To Reduce The Volume Of N500, N1000 In Circulation - Nairametrics by Steve2626(m): 7:41pm On Nov 22, 2022 |
This is will greatly affect POS operators. This will also lead massive job loss. |
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