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Conversation With Sanusi On "New" Currency Policy - Business (2) - Nairaland

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Re: Conversation With Sanusi On "New" Currency Policy by phraze(m): 10:58am On Aug 27, 2012
alienware: who be this jarus or suraj self ? u dey show yourself for front page too much, i sure say u be moderator for here. u and cbn governor talk for dream or for imagination you come put am here ?
you get bad mouth o, lol. e be like say u neva knw say the Poster in quote na Dignified personnel abi? lol better wash ur face and hands next time before u comment..
Re: Conversation With Sanusi On "New" Currency Policy by dplordx(m): 10:59am On Aug 27, 2012
Flexskillz: Picture this scenario, i buy an item worth N500, I present a N5000 note i recieve a balance of N4500 in other denominations, am i not gonna ed up with more cash in my pocket?

Your sooo on-point. Im sure, Seun wouldnt think about this....I long tried to advise this guy been a programmer aint the same as been an intellectual.
Shame on this brainless administration. And to mention, 40billion would be spent on this project, on killing the naira and shooting up inflation.
If the 40billion goes into Education, Security, or Health, it would make a greater difference. Anyways, Naija is a useless country.

3 Likes

Re: Conversation With Sanusi On "New" Currency Policy by ariy(m): 11:00am On Aug 27, 2012
Wizeboy: In as much as I agree with his decision to introduce the new N5000 note, where my worry lies is the introduction of N20 coin. Though COIN is been used in more advanced countries of the world as a means of transaction but I doubt if that will work in Nigeria.

I remember when 50kobo and N1 was converted to coin, the price of sweet, biscuits and some other items quickly rise to N5 and had been like that since then. I strongly believe if N20 notes is finally converted to coin, hardly will the value worth what it is today (the price of Pure Water, Biscuit, Sweet and some other things will change drastically) because of Nigerians mentality.

He should therefore, let N5, N10 and N20 remain paper note, in order not to cause hardship for Nigerians.
you speak my mind
Re: Conversation With Sanusi On "New" Currency Policy by Nobody: 11:00am On Aug 27, 2012
well make sure you use N5K note for large transactions because you wouldnt want to make headlines by fighting with bus conductor looking for change issuing N5k note for N100 bus fare. But what if you only had N5k note, and you want to eat at mama put at N300 a plate? How will find change when its even hard to dissect N1k note? Will you leave your N5k note and come back for change later? Gosh forbid.
Re: Conversation With Sanusi On "New" Currency Policy by Olaone1: 11:01am On Aug 27, 2012
You are trying to go cashless and you, so thoughtlessly, come up with a new, higher denomination. How justifiable is that?


Crazy decision, that!

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by Acidosis(m): 11:01am On Aug 27, 2012
Thank you for these clarifications. Nigerians always want to talk. . .always want to talk rubbish. . .on things they know nothing about.

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by Theben(m): 11:02am On Aug 27, 2012
phraze: Only people with foresight emulate the steps of Great Leaders. Mr. Seun has supported this, don't know why i should'nt. Ekù ishè Sir

Stop thinking like a dumb follower. That seun supports it doesn't make it right.

6 Likes

Re: Conversation With Sanusi On "New" Currency Policy by Fourcade(m): 11:02am On Aug 27, 2012
Jarus:
SLS: See, Suraj. It is not. First, know that this is not a monetary policy but just currency management. Our cashless policy never says there should not be any cash at all. It only discourages heavy cash in the system. Whether in N5 notes or N5000 notes, the limit of N500,000 will still be N500,000. So what are we saying? It also enhances operational efficiencies. The number of times banks load their ATM machines will also reduce. Banks can now load up to 5 times the value in their ATM and reduces rate of stocking and associated costs. The cost of printing and managing currency will also reduce.
I don't understand this...
Re: Conversation With Sanusi On "New" Currency Policy by konami001: 11:02am On Aug 27, 2012
Sanusi forgot his share of the contract for the minting of the money sha... may he live forever

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by wasiudvd(m): 11:03am On Aug 27, 2012
To what extent will the effect of N5,000 note have on cash management? All banks have limit on all their ATMs, even though their is still space in the cassettes, u can't load more than the your limit.
Each branchs vault have limit too, this limit is not number of notes but figures, so as soon as d limit is reached, it does not matter if u are moving just a single note with bullion van, you will incure the same expense when u are moving hundreds.
Any time dis man wan do sumtin, he no dey think twice?
Re: Conversation With Sanusi On "New" Currency Policy by ayox2003: 11:03am On Aug 27, 2012
puskin:

grin grin grin grin It definitely will.

Abi, SLS did little in convincing me about this move...




Frawzey
Re: Conversation With Sanusi On "New" Currency Policy by DonaldGenes(m): 11:03am On Aug 27, 2012
Why do nigerians are so fond and quick to carpet any new cash policy programme in this our beloved country,why can't we just allow it to work first and see how it goes?must we oppose anything new?na waoooooo
Sanusi pls ignore them jorr! I lend my credence absolutely with you on this!

2 Likes

Re: Conversation With Sanusi On "New" Currency Policy by Talk2naija(m): 11:04am On Aug 27, 2012
Its just another way around and easy to embezzle our Money. Though the Idea is Good but this time is not the Right.. It should be 2020.... Sanusi tanx but u're too forward.. We dnt want d 5000 naira note now
Re: Conversation With Sanusi On "New" Currency Policy by phraze(m): 11:04am On Aug 27, 2012
dplordx:

Your sooo on-point. Im sure, Seun wouldnt think about this....I long tried to advise this guy been a programmer aint the same as been an intellectual.
Shame on this brainless administration. And to mention, 40billion would be spent on this project, on killing the naira and shooting up inflation.
If the 40billion goes into Education, Security, or Health, it would make a greater difference. Anyways, Naija is a useless country.
you sit behind ur wooden computer and make such furnitury remarks! You deserve 400 lashes of koboko..lol Lets say good things abt our country pl.s.
Re: Conversation With Sanusi On "New" Currency Policy by Acidosis(m): 11:04am On Aug 27, 2012
diluminati: .

Hello ma'am. How have you been?
Re: Conversation With Sanusi On "New" Currency Policy by Wizeboy(m): 11:05am On Aug 27, 2012
Fourcade:
I don't understand this...
Thats the CBN daily cash limit that can be withdraw or save over-the-counter into someone's account.

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by timpaker(m): 11:06am On Aug 27, 2012
In as much as i feel the introduction of the N5,000 note will further strenghten the cashless policy embarked upon by SLS, I still think that the cost of producing this currency and converting N5, N10 and N20 to coins will tell much on the purse of the FG (considering constant complaints that their ain't no money to fund goverment's projects), I also would like to recall the effort of Prof. Soludo's coin introduction and how it was frustrated by Nigerians. I hope this policy won't go down the same road..that's one of my fear. As for the fear of inflation, I believe that can be managed by CBN of other revelant financial institutions.
Re: Conversation With Sanusi On "New" Currency Policy by marleygab(m): 11:07am On Aug 27, 2012
well just an honest opinion. but i suspect this overhauling of our currency has something to do with this islamic. . . . . . sorry Non interest banking thing.
Re: Conversation With Sanusi On "New" Currency Policy by debokaz(m): 11:07am On Aug 27, 2012
My problem is with the introduction of coins.What about the old coins?they appear to be extinct.

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by uceee(m): 11:08am On Aug 27, 2012
No Mr. Sanusi, you have not done your homework well. Introduction of #5000 notes and the changing of #5-#20 to coins will surely bring inflation. It has been proven time and again that Nigerians don't like using coins. #50 will just take the place of #5 just as #5 took the place of 50 kobo. Imagine that you seller selling goods worth #10 each, would you enjoy carrying at least #300 (assuming some people will buy with currencies and get change in coins) worth of coins at the end of the day? Moreover, for the #5000 to be fully integrated into the economy, there must be inflation. You and I know that most sellers won't allow you pay for goods or services worth #1500 with a #5000 note. This is Naija. Its high time we stopped imitating the west verbatim. We are a very unique set of people and what works in the US might not work here.

4 Likes

Re: Conversation With Sanusi On "New" Currency Policy by venorite(m): 11:09am On Aug 27, 2012
alienware: who be this jarus or suraj self ? u dey show yourself for front page too much, i sure say u be moderator for here. u and cbn governor talk for dream or for imagination you come put am here ?

so u just quoted dis whole stuff just to ask who suraj is...SMH,some people need serious deliverance...mtschew
Re: Conversation With Sanusi On "New" Currency Policy by born2boink(m): 11:09am On Aug 27, 2012
Seun: I support Sanusi on the "new" currency policy. It's simply the most practical way to reduce the cost of cash management. I also support his decision to keep a low profile this time, since people won't understand that this has nothing to do with inflation. Uneasy lies the head.
which useless support are you talking about, why can't the US dollars change like Nigeria change naira like cloths, Sanusi do not know anything, I can now see big diference between education and common sense, do you think pure water traders will sit on coins for long, they will be soon be selling pure water for 50 naira or eradicate pure water totally and all that would be left is bottle water and some other close cheap produts will do the same

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by phraze(m): 11:09am On Aug 27, 2012
Theben:

Stop thinking like a dumb follower. That seun supports it doesn't make it right.
Mr Ben i am not Dumb. Maybe you think you are. If you still think i'm supporting him wrongly then who do you support?.. Nobody!.. TheBen i support the policy and Mr.Seun spoke my mind. R we even nw?
Re: Conversation With Sanusi On "New" Currency Policy by Nobody: 11:11am On Aug 27, 2012
Acidosis:

Hello ma'am. How have you been?
im fine but you deserve a hot slap you know
Acidosis: Thank you for these clarifications. Nigerians always want to talk. . .always want to talk rubbish. . .on things they know nothing about.
forget sanusi and the big men and think about the common man like you. It will affect you badly, just be realistic and stop hero worshipping
Re: Conversation With Sanusi On "New" Currency Policy by dplordx(m): 11:11am On Aug 27, 2012
ekt_bear:

Yep. I don't think there is evidence for this hypothesis some have.

In this matter, I agree with SLS


I wont reply this foolish assertion of both you and that Aboki. What good has the larger denominations done for Nigeria?
Wait, so 5k is the solution to our economical issues? Is there anything like economical priorities in our national dictionary?
What the F is wrong with you fake intellectuals here....funny how you tie your hair to your beard, and thinking your looking good.

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by phemybof(m): 11:12am On Aug 27, 2012
Seun: I support Sanusi on the "new" currency policy. It's simply the most practical way to reduce the cost of cash management. I also support his decision to keep a low profile this time, since people won't understand that this has nothing to do with inflation. Uneasy lies the head.
SLS just say dat to defend himsef frm harazment by general public.NEW currency introduction is a real inflation.SALARY EARNERS wl sofer most on introduction because minimum wage has already put inplace, so there won't be strike 4 increase in salary 4 d time being.a busins man can increase his price rate at enytime of favourable condition.on d coins issue,SLS,FED.GOVT. dosnt tink of average nigerians and common man on d street. Ds is just a way of DEVALUATION and it wil increase IMPORT AND DECREASE EXPORT wich wl leads to BALANCE OF PAYMENT DEFFICIT
Re: Conversation With Sanusi On "New" Currency Policy by born2boink(m): 11:13am On Aug 27, 2012
Sack sanusi,Sack sanusi,Sack sanusi,Sack sanusi,Sack sanusi,Sack sanusi,
Re: Conversation With Sanusi On "New" Currency Policy by Nobody: 11:13am On Aug 27, 2012
Theben:

Stop thinking like a dumb follower. That seun supports it doesn't make it right.
don't mind him.seun is now a demi-god abi? Am waiting for the day the almighty seun will comment about the tribal bashing going on in nairaland! Mtscheeew!

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by texazzpete(m): 11:16am On Aug 27, 2012
yuzedo: So while GEJ has a 40-man laptop squad, SLS also has Jarus heading his own Laptop squad (sensitization dept.)?? undecided undecided tongue grin

Is it too much to ask that you logically refute Sanusi's response/reasons instead of making useless snarky comments?

2 Likes

Re: Conversation With Sanusi On "New" Currency Policy by Nobody: 11:16am On Aug 27, 2012
Donalð Genes: Why do nigerians are so fond and quick to carpet any new cash policy programme in this our beloved country,why can't we just allow it to work first and see how it goes?must we oppose anything new?na waoooooo
Sanusi pls ignore them jorr! I lend my credence absolutely with you on this!
idiota. I wonder no one liked the realistics comments so far but yours thats so full of stupidity. Maybe you used your other account to like it. Hmmm seun dey dash money to like ewhu
Re: Conversation With Sanusi On "New" Currency Policy by crackhouse(m): 11:19am On Aug 27, 2012
This jarus of a guy didn't do a nice job here. He was busy romancing & laughing with the dude and agreeing to whatever he said instead of asking him good & challenging questions that will throw him off-balance. This interview is more of a friendly one than an investigative or fact finding one, Infact it's not explicit. Thumbs down my guy jarus. This shows u are not into professional journalism.

1 Like

Re: Conversation With Sanusi On "New" Currency Policy by dedeike: 11:19am On Aug 27, 2012
born2fuck: Sack sanusi,Sack sanusi,Sack sanusi,Sack sanusi,Sack sanusi,Sack sanusi,
And appoint you abi?

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