₦airaland Forum

Bukkyade: OLODO! Were ni e! This shows you don't even watch news at all. I just found out I have been discussing with an Agbero all the while. An Agbero who doesn't know that FEC meetings hold every Wednesday since OBJ days in 1999. I'm happy you have come to learn this night. If you have a TV , stay tuned and watch CHANNELS TV or AIT or even STV news later today and you will watch the outcome of FEC sessions. Try it next week too and start following it. It will redeem your iilletracy. Please always tell them I told you first.

Bukkyade: If you don't know that FEC Meetings hold every Wednesday in Nigeria, then you have no business here on Nairaland.
You rather go back to your petty trading business

jimmyboy1010: Pls mr Genius, may I know the level of your education? Let's assume dat you're a blind man, pls are you deaf and dumb as well You're just a jack ass of a fellow! Kindly face front n drive bluudclaat!!!

Bukkyade: Meanwhile, this woman in question was shown on air yesterday attending to some directors in the Nigerian Gas company over the linkage to GEREGU power plant.
Except, she was flown abroad just this morning because that report showed her in a parley with the director's yesterday.
Believe this rumours and you will believe anything.

You will be shocked to see her in tomorrow's FEC meeting. Let's watch and see. I have learnt not to trust these petty Internet based newspapers

obowunmi: LooooooL ---- wooord.

seedord247: First define the word denied?

Second lemme complete your username for you... 2much stupidity.

Do you know what they call strategy?.. For crying out loud, the poster said, not one, not twice has this man been using that slant to blueprint those strumpet to go his way.

Every cheaters have their own of making a girl moaning. And also, he didnt denied his wife and kids infront of the so call hoes. If he did that'd have bee a different case.

Mr stooge, like i said earlier, the only positive thing your life is that mbakoko tribal marks and that horrendous odour you got. Foool

seedord247: You are ranting and insulting the innocent man you dont know. Maybe bcus you are fugly and your body odour can turn manure to human, thats why girls runaway from you.

Even your house wifee must be one local girl from otapiapia development area. She must be arranged to marry you.

Femi Adesina: . Do you know your STATUS considering your different comment nd views on a marriage issue Scan nd paste d result before you reply or demonstrate here again. You tell d poster she married a mad man even so to say she is insane herself haba all she wana hear na advice she can work with why now ..? No be only you study psychology infidelity has nothing to do with insanity

shymexx: These policies are elitists and part of extreme capitalism, what about the ordinary Nigerians?

These clowns don't even think about the normal people on the streets before they start throwing words around..

Cashless policy in a country where most people don't even have money to feed, not to even dabble into having current accounts.. GTFOH!!

miky: Lol no insult but i think u dont read properly for real!!

this is what u said: Even 100 and 50 dollar bills are very rare. Most people dont accept it because of security reasons. You dont know what you are talking about. Please logout.

this is how i responded : how do u get your information,, i withdraw cash everyday i get some in $100, and $50 too much 20's and u could loose em...



Now tell me where i talked about circulation? lol when the word i mentioned was WITHDRAW!! pertaining to withdrawal from banks abi na lie?


the usa doesn't need $1000 their currency is on par with any in the world. Nigeria currency has a ratio of 157: to 1 US dollar... it means if u buy an imported good from usa and want to pay in naira you have to pay 150x the amount of that good..thats too much cash to be carrying in my own opinion.. it is also too costly and inefficient for the cbn, banks and maybe u

if u cant understand that, then i dont think i can make it simpler..i suggest u look at facts.

Now i have a question for you the #1000 naria was introduced in oct 2005, sometime that year inflation droped from 27.8% to around 12% How is this possible? You need source i can provide?

Genius100: Look at this moronic intellectual midget. I've lived virtually all my life in the US and you are telling me $50 and $100 are very rare. You are incredibly daft. You belong in the zoo, as I'm sure even a silverback monkey has a higher IQ than you. What an ignoramus.

Elueme: I don't quite agree with your assertions.. The points you raised above could just be your psychology and it is the same way most Nigerians are thinking right now.. There are economic and market forces that determine inflation and cause currency devaluation not on the denomination itself.. Why has the dollar not been devalued even with their $100,000 , $10,000 or $5000 bills.. How abt Japan and other countries.. Ok, let's put Ghana in perspective with their hundreds of thousands of CDs their currency is even waxing stronger.. In as much as I don't advocate for this new policy, we should be able to tell ourselves the real issues other than looting and inflation .. The economists know so I expect them to sensitize us

Ghana’s cedi currency will shed four zeros next July, a central bank official said on Monday, and shoppers weary of carrying big bundles of bank notes welcomed the plan.

Residents of the West African country complain a combination of low-denomination notes and the low value of the cedi—a result of high and sustained inflation in the past—obliges them to carry bags full of tattered currency.

“We will be setting the current 10 000 cedis to one of the new Ghana cedis,” Ernest Addison, the bank’s head of research told local radio station Joy FM.

“It is not a revaluation. It is a redenomination,” he told Reuters later. “Depending on the exchange rate in July, the old currency will just translate into the new one.”

One United States dollar is currently worth 9 200 cedis.

http://mg.co.za/article/2006-11-27-ghanas-currency-to-shed-four-zeros-in-july

miky: can u read does withdrawing specifically mean atm machines.. as a med student here in the states, i withdraw cash from 3k to 4k depending on situation.. its not even safe to do that driving through those atm machines, dont get killed bro lol

obviously $20 is common so is $1 which is probably more common... but the point u stated previously was that 50, and 100 are not really used??

miky: how do u get your information,, i withdraw cash everyday i get some in $100, and $50 too much 20's and u could loose em...

miky: lol a bit silly bro.. inflation is caused when the total value of currency printed is way to high compared to goods and service on the demand floor.. if cbn wants to print 5000 it only means fewer lesser denomination would be printed so the total value is the same... our useless naira is due to the fact we produce nothing in nigeria our trade deficit is horrible.. and sometimes economic growth can spur a bit of inflation so it can be trivial at times..

Genius100: Dude, stop being ignorant. Everybody in the USA use $100 bills, which is equivalent to N16,000. Ghana uses a 50 cedi bill which is equivalent to about N7500. What are you on about? If you ignorant about something, at least ne honest enough to know and say you are ignorant. Please show us the study that links higher notes to inflation..

taharqa: My friend with due respect, you are just ranting. Where is the DATA suggsting that "With higher denominations comes inflation" or ny of the other things you claimed above? Stop doing "Street talk" plz

Elueme: I still don't get how this note will destroy our economy.. As much as I don't subscribe t o the new denominations especially coins I don't see how it will aid our corrupt leaders in looting more than they are currently doing. Do u need naira notes to inflate contract or mk fake subsidy claims? Other countries have far higher denominations of their currencies and their economy hasn't scrumbled.. We should state what the real grouse is and stop pegging it on shallow excuses.

obailala: Please, can someone be kind enough to explain to me why/how the N5000 note will destroy our economy/nation?? If the words of CBN are anything to go by, the new N5000 notes will not necessarily be in circulation; just like in the US where they have the $1000 and $10,000 bills _{(which are however not in circulation)}

Believe it or not, it wasn’t just to save space in fatcats’ wallets. When the Treasury started printing these giant bills, their main purpose was making transfer payments between banks and other financial institutions. Before sophisticated wire transfer systems were fully developed, it was apparently easier and safer just to fork over a $5,000 bill to settle up with a fellow bank. Once transfer technology became safer and more secure, there really wasn’t much need for the big bills anymore

esere826: Patent owned by foreigners? what am I not getting here?

Can some monetary (non governmental) expert please explain!!!

I am in a state of shock