Demde, u r right. What a cashless economy indeed CBN is getting at?

Watch it, Sanusi is only after making his loot from the minting of these coins and currency. Soludo did same thing ad took the money he made to contest GOVERNORSHIP election against Obi in Anambra State. The earlier Sanusi did same thing!

Watch out for the worst economy is the second name of every CBN Guvnor in Nigeria sn 1985.

And CBN and the fraudulent Nigerian govt. would have succeeded creating bumper inflation in Nigeria once again, amidst ravaging poverty, excessively high unemployment rate and sectors-wide under-productivity coupled with wastefulness and reckless, growing years of neglect, everywhere. BAD LUCK TO Nigeria(ns) in the 21st century!

Demde, u r right. What a cashless economy indeed CBN is getting at indeed?

Watch it, Sanusi is only after making his loot from the minting of these coins and currency. Soludo did same thing ad took the money he made to contest GOVERNORSHIP election against Obi in Anambra State. The earlier Sanusi did same thing!

Watch out for the worst economy is the second name of every CBN Guvnor in Nigeria sn 1985.

And CBN and the fraudulent Nigerian govt. would have succeeded creating bumper inflation in Nigeria once again, amidst ravaging poverty, excessively high unemployment rate and sectors-wide under-productivity coupled with wastefulness and reckless, growing years of neglect, everywhere. BAD LUCK TO Nigeria(ns) in the 21st century!

CRAZY COUNTRY! CRAZY DESTINATION!!

i sorry for my country Nigeria

Whch way Nigeria...d creation of #5000 Note will only reduce d value of our currency. To me d creation of diz so called #5000 note is nt a solution at all...i cn now c dat in d near future der will b a call 4 d creation of #100,000 note...

imagine say you wan buy la casera for 100 bucks and gat only 5k note..o boy you go hungry die that day..because no body go change that money.

It's not an issue to debate. Making noise online can't change anythin. We've got no choice, cos our Govt don't listn's ppls voice.

NA SO WE GO DEY DEY FOR DIS OUR COUNTRY NAIJA. CANT WAIT FOR MY PAPER TO DROP MAKE I MOVE COMOT FROM DIS COUNTRY. AM PROUD TO BE A NIGERIA BUT NOT HAPPY LEAVING IN NAIJA. OUR LEADERS DONT CARE ABOUT THE POOR AND DEY ARE REPRESENTING US MAY GOD FIRE DEM ONE AFTER THE OTHER. THEY ARE TRYIN TO TELL US THAT THEY DONT NEED THE POOR PEOPLE AROUND

Sharexgold: It's not an issue to debate. Making noise online can't change anythin. We've got no choice, cos our Govt don't listn's ppls voice.

that is where u are wrong,this govt listens,i must say that is the only thing positive about gej,all ur respones here on nl is been monitored and on other social media too,dont be surprised if the action on this 5k note is postponed.havent u noticed that when an important issue is discussed extensively on nl the popular opinion is echoed by the govt later?

It is needful that we understand d philosophy behind the redonomination policy and the mitigants in place against the obvious risk of an eventual fall in aggregate output that will be ushered in by rising interest rate in the money market.

This rise in interest will be caused by rising demand for investible funds as short run revenues n profit rise. Without a rise in aggregate money supply to meet this demand, obviously interest rate will go up, and a cost push inflation will result, this will lead to a declining aggregate investment and ultimately national output.

Now how does this affect the price of garri? Coining N100 notes will lead to their eventual extinction-historical evidence supports this. Also, rising cost of imported factor input will be pushed on to the consumer. This causes a tilt in the aggregate expenditure curve to the left as real income reduces.

My take on this is: the current inflation rate does not warrant currency redenomination. The inflation figures are compatible with those of a growing economy @ national income disequilibrium. Do we say each time prices soar, we'll resort to redenomination? Has the cbn exhausted all avenues to restore the store of value fnx of money?

Fisher's MV= PT suggest that rising Money supply will equl rising price given constant V and T. We wonder how dis policy can pull down inflation. What is needed is structural adjustment in the economy such that the market will supply what is demanded in it.Core inflation is fought best by boosting agric output and improving our storage capabilities. Non core inflation can be fought by a combination of macroeconomic tools available @ d corridors of the cbn. Improving domestic manufacturing capacity and increasing the value chain in the process is critical to fighting imported inflation more so as d crises in europe worsens. Behavioural changes is also required on the part of the citizenry to change its consumption pattern.

This forum that used to be educating has now been turned to childs play.where every monkey will come and talk nonsense.
Does it mean that we dont ve nigerians that majored in economics?who can give us proper analysis of this issue.both merits and demerits rather than ALL these whinings.

Luckynonso: This forum that used to be educating has now been turned to childs play.where every monkey will come and talk nonsense.
Does it mean that we dont ve nigerians that majored in economics?who can give us proper analysis of this issue.both merits and demerits rather than ALL these whinings.

Look Bleep all nigerian economist - they don't know anything they are all psycopath -- imagine turnin 5,10,20,50 naira to coins - what the Bleep - am not sayin coins is bad but in this part of the world it does not help matter - coins get lost easily and we nigerians may get tired using it and before you know item sold 20naira will be sold 100naira in notes -- 5000naira hey wat da Bleep I also heard 2000naira is involved - I am cryin here o

Luckynonso: This forum that used to be educating has now been turned to childs play.where every monkey will come and talk nonsense.
Does it mean that we dont ve nigerians that majored in economics?who can give us proper analysis of this issue.both merits and demerits rather than ALL these whinings.

Yam! D one wey dey exactly b4 ur post na wetin? I doubt if u even undastand am self!

I've been following dis thread since yesterday nd u knw what, it's been educative!

Sharexgold: It's not an issue to debate. Making noise online can't change anythin. We've got no choice, cos our Govt don't listn's ppls voice.

More gap btw d rich nd poor. Our naira looses more value, in fact, if we continud at dis rate we would somday chage $1 4 N5,000. If faked, na Big lose b dat (2 u wey hold am nd 2 naija). Men, as far as i'm concerned i c no gud thng about dis steewpid idea nd u say it's a wast of time debating it? And dat we can do nth about it?
Says who? If we co-operate not 2 accept d morning in any form of transaction nd let dat ball heade sanusi knw we're not in support of his puerile idea i bet dey'll take a rethink.

It is now obvious that we have many evil genius in this country,SANUSI LAMIDO is one among many,many of these guys at the rem of affair are expired,they have offered all they could yet nobody is taking note,believe it or not,anytime these guys have evil assignment to carry out,they will not care of any havoc this may cause over 140million Nigerians,We have CASHLESS POLICY already,newly introduced by and approved by THEM to take care of carrying lots of cashes about,what is now the essence of introducing 5000,notes,of course this will brings nothing but inflation,they knew,to approve 18,000 minimum wages became a big issue,if am earning 20,000 i will be going home with 3 pieces and some changes,isn't[color=#990000][/color] it,let JONATHAN GOODLUCK,DAVID MARK,OTHER BIG BOYZ and SAUNSI himself come and tell us the very last time they either handle or even seen 50 naira note last,this is not a joke,its a reality,i can tell u precisely that i that am a common man,its been like 6 months i saw 5 naira note last and for the past 3years or more i have not set my eyez on ANY Nigeria coins,these are guys that i can tell u fearlessly that the minimum denomination u can find with them or even their children starts from 200 naira,they handled dollars and pound sterling more than the owners,it can neva be their problem rather their opportunity,but I & U and the rest 140 millions plus have to live with it.In our National Anthem,"THE LABOUR OF OUR HERO'S PAST SHALL NEVER BE IN VAIN" Sanusi should tell me if two of our heroes were printed on both 10k and 5k,which were no longer in existence today,are we remembering them or forgetting their labour? COMMON SENSE.

el nino on vanguard said:

However, Special Adviser to the President, National Assembly Matters,
Senator Joy Emodi said that the image of three
distinguished women on
the proposed N5,000 note was an honour for
women. With someone like this advising Jonathan
even on his own domestic affairs who need a
prophet to tell him why Jonathan goes astray
most of the time. All this woman could see
about the N5,000 is just the color and the
images on the paper? Na wa for Nigeria government sha !

I can but say na God go punish dem.

AjanleKoko:

So because of counterfeiters, they should not make N5k notes?
Chai

Bro, you misunderstood the point. Is N5k note really necessary at this point of economic quagmire? Won't it breeds unprecedented inflation? I won't be surprised if the least price on any item would be N50. N5, N10 and N20 will be automatically out of used as always the case when a higher denomination of note is introduced.

I am highly disappointed with the so call educated people leading the country. First the president that claims he has a Ph.D and then
this stupid fool called Sanusi Lamido Sanusi that also claims he has a Ph.D.

Nigeria's solution (in my opinion)
There are better ways to improve the economy like agriculture. But first if this our so call stupid leaders can solve the issue of electricity,
Nigeria will be able to decrease the number of people unemployed. Government will be able to construct a good rail network which can employ a good number of people,
agriculture can be modernize,education may improve and our students will be able to learn something for once and it will increase the number of manufacturing industries opening up in the country. To increase the GDP of the country.

Yeye fifle(people)...n0t 0nly 5,000naira n0te,let them create 20,000 n0te 0r change naira t0 taira...things geting w0rse

kuyt: Anyone with an idea where I can learn MATLAB?
Pls help a brother.
I need it urgently.

If you are in Lagos, then I cud be of help, though send me a mail, @ ohezi@yahoo.com stating what you hope/want to achieve with MATLAB, then we could move on from there.

This government are doinq the wrong thing at the right time.....Nigeria is the only country changing currency annually...no other countries do that.....i pray to leave this country coz to serve our motherz land is not by force

we need somtin gud nt diz abeg: many countries hv gone far, bt, 9ja i no no waitin d hapen 2 u, wund u progrez?

Sammyounq: This government are doinq the wrong thing at the right time.....Nigeria is the only country changing currency annually...no other countries do that.....i pray to leave this country coz to serve our motherz land is not by force

Who cares if you leave? Nigeria will not miss you.

Hmmm, me dey speechless

Sammyounq: This government are doinq the wrong thing at the right time.....Nigeria is the only country changing currency annually...no other countries do that.....i pray to leave this country coz to serve our motherz land is not by force

I agree wit u my Broda. I share ur pain.
Soludo came, he chnged d desighn of N50 notes dwnwrd. Lamido carry him rotten, expired brain come, he decided 2 make his own mark by making his own chnges as well (nd even worst chnges) dat could disable, cripppppple, dismember and matyre our naira completely.
When dem cum finaly sack am for his greviour affliction wrath on d nation or him tenor finish, d nxt person wey go con cum go descide 2 do him own. Who knws what dat would be? Maybe d final extinction of d coming coin denomenations.

D point is Naija, dis country lacks focu, consistency nd clearity of purpose. And i don't think dat'll ever chng if we keep on nagging! We're being rulled by monsters who doesn't av brain but AKAMU in dea fat stupid nd silly head!
So if u can run away 4rm dis country, pls go. Nbdy would miss u because i'm not even sure if anybdy would notice, no body cares about u! Our leaders do not care!!

Dis country does nt care 4 u. It cares 4 it's pocket nd doesn't give a damn if u're digging ur head in a suckaway 2 survive. In fact, it'll help u d more 2 advance in ur deadly act, doin all in it's power to make sure u drown!


I hate dis nation with passion nd would renounce it anytime nd any day without a sec. tought if i had d slightest opportunity unless we change and take d bull by d horn!

We can not sit back nd watch some scallywag turn us up-side-down nd ask us 2 walk with our heads! We've gotta do sth!! Or are we goin 2 wait like d coward goat (or dog, which ever it is) 2 b utterly pushed 2 d walls b4 we fight back?

Sammyounq: This government are doinq the wrong thing at the right time.....Nigeria is the only country changing currency annually...no other countries do that.....i pray to leave this country coz to serve our motherz land is not by force

I agree wit u my Broda. I share ur pain.
Soludo came, he chnged d desighn of N50 notes dwnwrd. Lamido carry him rotten, expired brain come, he decided 2 make his own mark by making his own chnges as well (nd even worst chnges) dat could disable, cripppppple, dismember and matyre our naira completely.
When dem cum finaly sack am for his greviour affliction wrath on d nation or him tenor finish, d nxt person wey go con cum go descide 2 do him own. Who knws what dat would be? Maybe d final extinction of d coming coin denomenations.

D point is Naija, dis country lacks focu, consistency nd clearity of purpose. And i don't think dat'll ever chng if we keep on nagging! We're being rulled by monsters who doesn't av brain but AKAMU in dea fat stupid nd silly head!
So if u can run away 4rm dis country, pls go. Nbdy would miss u because i'm not even sure if anybdy would notice, no body cares about u! Our leaders do not care!!

Dis country does nt care 4 u. It cares 4 it's pocket nd doesn't give a damn if u're digging ur head in a suckaway 2 survive. In fact, it'll help u d more 2 advance in ur deadly act, doin all in it's power to make sure u drown!


I hate dis nation with passion nd would renounce it anytime nd any day without a sec. tought if i had d slightest opportunity unless we change and take d bull by d horn!

We can not sit back nd watch some scallywag turn us up-side-down nd ask us 2 walk with our heads! We've gotta do sth!! Or are we goin 2 wait like d coward goat (or dog, which ever it is) 2 b utterly pushed 2 d walls b4 we fight back?

Sammyounq: This government are doinq the wrong thing at the right time.....Nigeria is the only country changing currency annually...no other countries do that.....i pray to leave this country coz to serve our motherz land is not by force

I agree wit u my Broda. I share ur pain.
Soludo came, he chnged d desighn of N50 notes dwnwrd. Lamido carry him rotten, expired brain come, he decided 2 make his own mark by making his own chnges as well (nd even worst chnges) dat could disable, cripppppple, dismember and matyre our naira completely.
When dem cum finaly sack am for his greviour affliction wrath on d nation or him tenor finish, d nxt person wey go con cum go descide 2 do him own. Who knws what dat would be? Maybe d final extinction of d coming coin denomenations.

D point is Naija, dis country lacks focu, consistency nd clearity of purpose. And i don't think dat'll ever chng if we keep on nagging! We're being rulled by monsters who doesn't av brain but AKAMU in dea fat stupid nd silly head!
So if u can run away 4rm dis country, pls go. Nbdy would miss u because i'm not even sure if anybdy would notice, no body cares about u! Our leaders do not care!!

Dis country does nt care 4 u. It cares 4 it's pocket nd doesn't give a damn if u're digging ur head in a suckaway 2 survive. In fact, it'll help u d more 2 advance in ur deadly act, doin all in it's power to make sure u drown!


I hate dis nation with passion nd would renounce it anytime nd any day without a sec. tought if i had d slightest opportunity unless we change and take d bull by d horn!

We can not sit back nd watch some scallywag turn us up-side-down nd ask us 2 walk with our heads! We've gotta do sth!! Or are we goin 2 wait like d coward goat (or dog, which ever it is) 2 b utterly pushed 2 d walls b4 we fight back?

u shld knw dat its d solution to dia problem cos if the 5000 naira note shld cum in place,it wil be easier for dem to smuggle nd steal as mch as dey can and dia pocket wunt swel for pipul to see. Useless govt nd foolish Jonathan.

IT IS NOT THE N5000 NOTE THAT WILL INCREASE INFLATION, BUT THE RELUCTANCE OF PEOPLE TO ACCEPT LOWER-DENOMINATION COINS. As traders avoid coins, prices tend to become the next
available whole note. For example, certain goods would have been, say, N2, but because of the reluctance of people to use coins, prices of such items have become N5 - a note.

The truth is that Nigerians have this reluctance to handle coins, and that is why coining any currency is usually a waste of resources. It is high time the authorities understood the particular situation in Nigeria.

I am of the opinion that the authorities should scrap coins completely, and convert N1 and N2 to notes. That way, they will gain acceptance, and prices of articles that would have been say, N2, but currently priced at N5, would fall to the real price of N2.

Even if N5000 must be introduced, let 50k, N1 and N2 become notes.

THE INTRODUCTION OF N5000 IS NOT THE SOLUTION TO OUR PROBLEMS. OUR SOLUTION LIES IN BOOSTING THE PRODUCTIVE BASE OF THE ECONOMY AND CREATION OF EMPLOYMENT.