This question has disturbing my mind. I want to by 1 litre of fuel which is sold at 87naira per litre i gave the pump attendance 90naira but no 3naira change to give me back. I have to leave it. Economics in the house is this wise for me? This should be a sensitive topic for front page. CBN should introduce 1naira note like other country currency

cc: lalasticlacla
Please MOD. Fp

Because they are bunch of ₦50 men with no value for little things that could have added value to strengthening the naira at least.

The very time we have our coins in circulation, the needed value for the naira will be known.

ok, seen! Will forward your case to Buhari

this topic should be in fp. If is babymama or reseblance now it will vanish to fp once

I think its a good idea even f i am not an economist, i believe because of the absence of 1 Naira note ,sellers approximate the price of items that should be 3 Naira for example, they approximate the value to 5 Naira,if it is done i believe prices of products MIGHT drop. My little piece even if i am not a economist.

Donald3d:
I think its a good idea even f i am not an economist, i believe because of the absence of 1 Naira note ,sellers approximate the price of items that should be 3 Naira for example, they approximate the value to 5 Naira,if it is done i believe prices of products MIGHT drop. My little piece even if i am not a economist.

prices will drop. nobody will be cheated. i think it will make our currency have little lift. Economis in the house please explain better

Pls reach me via 08098002051 on Whatsapp. That mail is not received

Jboyossai:
ok, seen! Will forward your case to Buhari

semasir:
Because they are bunch of ₦50 men with no value for little things that could have added value to strengthening the naira at least.

The very time we have our coins in circulation, the needed value for the naira will be known.

What value would that #3 command in terms of goods?
As an economist you should have bought 5 liters and even gone with #5 change there.

Last bullet: Nansense post.

l would prefer govt to focus on mobile money, glad buhari is visiting kenya so he can feel the impact of mobile money on their economy. l use airtel here and use it to pay at the supermarket, buy skype credits, on amazon, pay flight tickets and more!

dennisworld1:
This question has disturbing my mind. I want to by 1 litre of fuel which is sold at 87naira per litre i gave the pump attendance 90naira but no 3naira change to give me back. I have to leave it. Economics in the house is this wise for me? This should be a sensitive topic for front page. CBN should introduce 1naira note like other country currency

cc: lalasticlacla
Please MOD. Fp

We already NGN1 in coins (legal tenders) which we Nigerians have failed to appreciate. Try to buy an item or pay for a good/service with coins here in Nigeria and see the total rejection you'll get. No one wants to accept them.

But visit Shoprite and see how coins are utilized there. After paying for your shopping, they give your change in full (even if it includes coins).

Seriously,
I believe having the coins in circulation will increase the value of our money.
Am not an economist.
But visit any of this so call countries with stable economy, dey appreciate dia coins wella.
The #1000 note sud not hav been in existence.
For example, Brazil's heights currency is R$100 dy hav centavos ranginging from 5 to 50 and R$1 coin.
Visit the USA n see. They also have dia cents valued.
Nigeria sud try n apply dis.
I know dy hav tryed to enforced its cerculation in Nigeria, Mayb dy are stil not doing it the ryt way.

Minting cost: The cost of printing one N1 note is the same as printing one N100 note.
---
Why did the coins disappear? Because the use value was higher than its face value. A blacksmith was willing to pay N3 for a N1 coin, so he can use the coin to smelt into something he could sell for N5. So, our coins failed one of the basic requirements of money (the use value should not be greater than its face value).

Bevista:
Minting cost: The cost of printing one N1 note is the same as printing one N100 note.
---
Why did the coins disappear? Because the use value was higher than its face value. A blacksmith was willing to pay N3 for a N1 coin, so he can use the coin to smelt into something he could sell for N5. So, our coins failed one of the basic requirements of money (the use value should not be greater than its face value).

prices of items are going higher. N5 will be of no use soon

If you think ₦3 is nothing then I ask you reconsider and think what value the coin hence it's adoption. Not everyone will be buoyant to buy 5litres but we should be sensible to circulate it and value of items be in coins for usage.

We are no difference to advanced countries but we let this go out of extinction here and use it elsewhere when out there.

Kirinwa:


What value would that #3 command in terms of goods?
As an economist you should have bought 5 liters and even gone with #5 change there.

Last bullet: Nansense post.

Bevista:
Minting cost: The cost of printing one N1 note is the same as printing one N100 note.
---
Why did the coins disappear? Because the use value was higher than its face value. A blacksmith was willing to pay N3 for a N1 coin, so he can use the coin to smelt into something he could sell for N5. So, our coins failed one of the basic requirements of money (the use value should not be greater than its face value).

is this economical wise