acenazt: Cancel 500 and 1000 naira. then Enforce the Use of Those Coins.
I like ur idea. I would prefer the N100 or N200 note as the highest denomination. However, I don't think Nigerians appreciate coins; so I think they should be phased out completely
I like ur idea. I would prefer the N100 or N200 note as the highest denomination. However, I don't think Nigerians appreciate coins; so I think they should be phased out completely
True but with the coins in use,the prices of commodities has to be reduced, there by raising the buying power of the naira.
You should know that our major source of dollar notes which is oil is experiencing a low demand. So the best thing to do is to prevent a depletion in foreign reserve since we pay our import products in dollars
The best solutions are
1) Diversify our export trade so as a maintain new inflow of dollar notes
2) Establish industries whose products we import in order to reduce the demand for imported goods which drain our dollar reserve. Eg Electronics Mechanical products are major products we import.
acenazt: True but with the coins in use,the prices of commodities has to be reduced, there by raising the buying power of the naira.
Yes, the general price level would be lower. A N1 and/or N5 coin won't be a bad idea too. But will Nigerians accept coins like the Americans accept cents?
Yes, the general price level would be lower. A N1 and/or N5 coin won't be a bad idea too. But will Nigerians accept coins like the Americans accept cents?
The CBN should enforce its use,they have been Lax about it. From 1-10 naira should be in coins.
Yes, the general price level would be lower. A N1 and/or N5 coin won't be a bad idea too. But will Nigerians accept coins like the Americans accept cents?
what can those denominations buy. even 5 naira i s becoming useless. can you tell us what 5 naira can buy this day.
When you succeed in driving away this senseless insurgency, called bokoharam and effectively warn its sponsors, Naira Currency will gain confidence. No money in war, it's all borrowings, No war more money to enjoy. When in war, you are fighting, so you cant enjoy but when you are enjoying, money in your pocket gain confidence and become more controllable by you to enjoy more. THE FALL OF NAIRA IS A DIRECT RESULT OF BOKOHARAM INSURGENCY, APC, BUHARI & CO. SPONSORING IT, THEREBY FORCING GEJ TO BORROW ONE BILLION US DOLLARS ON BEHALF OF NIGERIA TO FIGHT BACK BOKOHARAM AND ITS SPONSORS.
Orunto: When you succeed in driving away this senseless insurgency, called bokoharam and effectively warn its sponsors, Naira Currency will gain confidence. No money in war, it's all borrowings, No war more money to enjoy. When in war, you are fighting, so you cant enjoy but when you are enjoying, money in your pocket gain confidence and become more controllable by you to enjoy more. THE FALL OF NAIRA IS A DIRECT RESULT OF BOKOHARAM INSURGENCY, APC, BUHARI & CO. SPONSORING IT, THEREBY FORCING GEJ TO BORROW ONE BILLION US DOLLARS ON BEHALF OF NIGERIA TO FIGHT BACK BOKOHARAM AND ITS SPONSORS.
acenazt: they can't do that if the CBN imposes an effective monetary Policy.
I remember Soludo wanted to make the N20 note the highest denomination in 2009, but that plan was prematurely scuttled by the powers that be. Though I think reverting to N20 as the top deno was a tad too radical.
I remember Soludo wanted to make the N20 note the highest denomination in 2009, but that plan was prematurely scuttled by the powers that be. Though I think reverting to N20 as the top deno was a tad too radical.
yes but if that step was taken,the Naira would have been powerful
pure water cost 10 naira in all market in Lagos but five naira in in street. how many tangible product can 5naira buy. when you talk about value. it should be able to buy tangible things.
check numbeo.com check the price of 1 liter of milk in Illinois state of USA. it is 0.92$ that is real value I'm talking about. the coins can buy real things not biscuits that has no nutritional value. thanks
I remember Soludo wanted to make the N20 note the highest denomination in 2009, but that plan was prematurely scuttled by the powers that be. Though I think reverting to N20 as the top deno was a tad too radical.
CFCfan currency don't work like that the idea was a lofty one. we call it redecimalization that is knocking off two zero from all our currency. the value of 1000 naira will be on 10naira. that will only achieve carrying less bulky notes in your wallet. but the real value or buying power is the same.
[size=25pt]Important Public Service announcement:[/size]
Fellow Nigerians and Africans:
The white man is stealthily waging a war against us and most of us are blissfully unaware of this.
[size=18pt]The use of hoax deadly viruses to economically exploit and to depopulate Africa by using fear and panic to coerce Africans to take poisonous medications and vaccines .[/size]
HIV and Ebola do not exist.
Don't believe me? Please do not read any further and immediately google "Ebola hoax" and "HIV/AIDS hoax "
The treatment of HIV /AIDS is what up to now they have been using to depopulate millions of African and profiting the white man.
By selling us condoms he is even taxing us every time we have sex.
Ebola is the "new HIV"
The so-called Ebola outbreak is a psychological terrorism using hundreds of paid actors across dozens of countries including the corrupt W.H.O. who is founded by members of the same foundation/Think Tank advocating for global depopulation (Rockefeller Foundation)
The white man who has been trying to wipe us out for centuries found these two deadly diseases amongst our people both in 1976 and we are not sceptical?
As the oldest race in the world we have survived probably hundreds of thousands of years without any deadly disease, yet our genocidal enemy just happens to be in our midst when he discovers not one but 3 deadly viruses in our midst all in resource rich regions of Africa all in one year (1976) HIV/AIDS, Ebola, Marsburg virus. The odds of this being true are so low that it would be fair to conclude it is impossible.
Fellow Africans the white man has unfinished business with us. He wants our total destruction (by stealth) all because we are sitting on the natural resources he wants.
We do not have a government to protect us so do not rely or depend on it. Unfortunate the imperialist seem to have captured and held our government hostage by whatever means, such that they do whatever they are told to do. Case in point the fake Ebola crisis that played out for some weeks in Nigeria. Which is likely to re-emerge to add to the terror that is being inflicted on us.
White imperialist nations has been conducting a stealth war against us for decades if not centuries to wipe us without success. Lets not forget the lessons of how he destroyed the native Americans, The Amazonian Indians, The Aborigines, Natives of New Zealand all of whom he as virtually wiped out and dispossessed them of their land and resources.
Make no mistake a deadly stealth war is being waged against Africans and all their descendants.
We need to fight this war starting by first getting ourselves enlightened. We do not have a government that can protect us so it is going to be every man for himself.
[size=18pt]Looming Crisis in Nigeria that has been engineered by imperialist nations to occur in Nigeria[/size]
We in Nigeria have been set up experience wicked, punishing hardship, unrest and killings by agents of the imperialists white man in the coming weeks.
The CIA sponsored paid mindless thugs called Boko Haram as already started to set the country on fire.
It is rumoured that the imperialist white man is planning to set this country ablaze in the biggest smash and grab operation the white man has ever carried out in Africa.
By fomenting sectarian killings and unrest it is suspected that the imperialist America may send in troops on the pretext of securing peace, but what ultimately they may be planning is to break Nigeria into several weakling nations with puppet leaders and in the process grab and secure all the resources-rich areas for themselves to steal our natural resources.
Fellow Nigerians because of this imminent violence that is about to explode, I suggest that you start making plans for the protection and if necessary for the evacuation of your families to safer areas or villages.
Prices of everything is going to double. Oil prices is in free fall all has been calculated and designed by America ( who has power to control oil prices and Nigeria's inflation rate) to add hunger to fuel the fire .
[size=18pt]What You Can Do To Protect Yourself And Your Family[/size]
As mentioned earlier: Start making immediate security plans to protect and or evacuate your family to known safe areas in the event of outbreak of murderous violence.
remember to avoid all vaccines produced by the imperialist white nations. Not Ebola, HIV, measles stop taking any vaccines.
Do not take up any offers of free medical health checks from their NGOs, Reject their family planning. Find other ways to protect ourselves from contagious diseases.
Rather than use the condoms manufactured by the imperialist white man which contain toxic chemicals that can damage your health, save money on condoms and we should make our own or abstain from unsafe sexual practices such as casual penetrative sex including penetrative sex with sex workers and anal sex .
Stop eating foods and consuming any products imported from imperialist countries. Start growing your own food.
Stop smoking cigarettes, chewing gum, using deodorant or toothpaste and other toiletries from imperialist nations.
Ladies, you are their special targets. You are the people that are going to deliver our next generation so you would be targeted.
Be very sceptical of any free medical health checks from their "charity NGO". They would like to make you unhealthy and ultimately infertile. Consider getting make-up and other hair products and toiletries from other sources.
Lets all utilise locally produced products that we can trust or from trustworthy countries.
The best way for us to fight this war is to boycott every product produced by these imperialist countries that we are able to do without or find other sources.
Educate yourselves about how vaccines are being used to depopulate us.
Please share share share (NL would not be allowed to put this thread on the front page) So please share it at least once daily and like every positive post.
Start this thread on other social media: facebook' twitter' instagram etc. Also go into my profile and follow me.
[size=18pt] Finally to help to protect yourselves from at least some of the hardship that is coming your way, as the Naira continues to free fall take the following advice very seriously: With immediate effect if you have any savings withdraw it all and use it to buy any asset you could re-sell later at a much higher price after the devaluation has bottomed out.[/size]
[size=15pt]Nigerian Central Bank Intervenes to Save the Naira[/size]
Nigeria might be backed into a corner and compelled to devalue the Naira, as the currency remains weak against the US dollar and other major world currencies. With a consistently dwindling supply of foreign exchange reserves - which are now at their lowest since October 2012 - experts say the Central Bank of Nigeria has no low-hanging fruit left in its efforts to defend the naira and maintain price stability.
