Bloody pigs!! Are US dollars polymer?? I guess that's what's next during this econ meltdown, polymer or whatever, It's still pathetically useless!

Hmm,

I wonder who has tested this #20 polymer note and confirm that it is better than the old paper money, is it the rich that hardly come in contact with the smaller denomination or the market women that sells commodity below #50 in value, who is in better position to recommend polymer notes.

Polymer notes are worthless, deface easily, torn to shred with time, unacceptable once sellotaped. Good for CBN cause the defaced, and sellotaped never find their way into their vault, hence they dont print replacement, the masses bear the loss.

Please polymer notes are not better, Nigerians should reject it, Nigeria is the only country where Govt dont care about feedback on their policies, either good or bad, once it translates to extra income for pple in Govt.

u pple are tallking about 7 point agenda not knowing that it the untouchable.

isiegonwa:

u pple are tallking about 7 point agenda not knowing that it the untouchable.

Bros I dey gbadun dis ur name ooo!!

sanusi his first action as cbn boss was illegal he also comfirmed it
we have not even survived that (the 5 banks) 420bln
now he want 2 waste money on long estincted naira notes
plls ask sanuusi
WHEN LAST HE TOOK N5 TO MKT N WATHE BOUGHT WITH IT

Though I like the concept of pilot scale on the N20 but I think we ought to deal with more pressing issues like the banks. It is ailing and has direct effect on the economy other than the currency or notes that have no direct bearing on demand and supply

nice babe:

sanusi his first action as cbn boss was illegal he also comfirmed it
we have not even survived that (the 5 banks) 420bln
now he want 2 waste money on long estincted naira notes
plls ask sanuusi
WHEN LAST HE TOOK N5 TO MKT N WATHE BOUGHT WITH IT

When did he confirm it? please provide evidence.

The CBN got approval from the President in October 2008 (it in today's punch newspaper were they talked about the history of introduction of polymers to the market) , to print the notes (N5,N10, N50) in polymers. And the CBN Governor at the time was Soludo, Sanusi meet the policy there and he is implementing it.

Well, this is a good idea but they are tons of things that are far more important than this.Lots of issues that need to be attended to first. What kind of govt. doesn't know how to priotize it's problems  .

Nairalanders and Sanusi,

How long does it take to print currency notes. It seems Sanusi Lamido had several plans even before he became CBN governor. If not, how long did he take him to realise that we needed new 50 naira notes. It seems he started printing the notes as soon as he came into office.

The notes are ready for release in less than two weeks. This simply means he started the process without informing Nigerians.

Sanusi recently printed 420billion he injected into the 5 banks, He obviously wasted money by printing notes that would be phased out less than 6 months later.

New notes were printed in 2007 (not sure though). Why discard those notes 2 years later all in the name of polymer.

Mr Sanusi wants his signature on the notes. All he is trying to do is out-do or bastardise Soludo's achievements.


May God bless Nigeria.
May God bless our confused leaders.
May God bless the hungry masses.

It is quite unfortunate that some people do not get thier facts right before they start to post.
1.

UNLEASHED:

Bloody pigs!! Are US dollars polymer?? I guess that's what's next during this econ meltdown, polymer or whatever, It's still pathetically useless!

US more or less functions as a cashless society, hence there is no need to make their currency more durable, but we know that everything in Nigeria is cash.

globatop:

Hmm,

I wonder who has tested this #20 polymer note and confirm that it is better than the old paper money, is it the rich that hardly come in contact with the smaller denomination or the market women that sells commodity below #50 in value, who is in better position to recommend polymer notes.

Polymer notes are worthless, deface easily, torn to shred with time, unacceptable once sellotaped. Good for CBN cause the defaced, and sellotaped never find their way into their vault, hence they dont print replacement, the masses bear the loss.

Please polymer notes are not better, Nigerians should reject it, Nigeria is the only country where Govt dont care about feedback on their policies, either good or bad, once it translates to extra income for pple in Govt.

It might suprise you to know that there is a department called Research and Development in the Nigerian mint. The highlighted part shows how ignorant you are of the term polymer.

koolchicco:

Changing of currency notes.Is this our major problem?

The CBN is doing Its Job. Tell that to YARADULL.

sunmatajai:

Its just an additional waste of national precious resourses. Be it polymer or polypaper they both wear out as time passes. Changing of Naira notes should be left all alone for now and give attention to more serious issues- issues that directly affect the life of masses in general(the utilities and public goods). More orientation and naira handling education is what Nigerians need particularly the Iyalojas(market women) and the youngs.




ogidiolu

The polymer substrate may cost more than the paper but in the long run, due to its durability, it is more cost effective.

ilohim:

Mallam Sanusi is definitely full of intrigue, he has finished with 'cleasing' the banking sector, he has moved on to changing naira notes!

My question: Is it not going to cost us quite some money to print the new notes?! What do we need them for?

Is that the problem of this country now? Spending money unnecessarily when there are more burning issues like undergraduates being at home for over three months(ASUU & FG deadlock),no light,NUT has also gone on a permanent strike;almost everyone in this country is on strike,yet we are wasting tax payers money to print new notes!

This government sure has their priorities all mixed up!

Worsestill,none, not even half of any of the seven point agenda has been achieved.

How sad!

Sanusi is implementing a policy, he did not initiate it.

deezah:

I agree that the 20naira notes tear easily and are quite useless after that. People dont even accept it when it's mended with cellotape because unlike d paper notes which are barely noticeable after mending, the polymer's flashy nature makes it so obvious, hence d refusal to accept it.

The above makes sense though. Something should be done about the nature of the polymer so we can further enjoy it, methinks.

Except you go out of your way to tear a polymer note it does not tear by mistake.

Pro Anti:

Nairalanders and Sanusi,

How long does it take to print currency notes. It seems Sanusi Lamido had several plans even before he became CBN governor. If not, how long did he take him to realise that we needed new 50 naira notes. It seems he started printing the notes as soon as he came into office.

The notes are ready for release in less than two weeks. This simply means he started the process without informing Nigerians.

Sanusi recently printed 420billion he injected into the 5 banks, He obviously wasted money by printing notes that would be phased out less than 6 months later.

New notes were printed in 2007 (not sure though). Why discard those notes 2 years later all in the name of polymer.

Mr Sanusi wants his signature on the notes. All he is trying to do is out-do or bastardise Soludo's achievements.


May God bless Nigeria.
May God bless our confused leaders.
May God bless the hungry masses.

FYI the polymer notes has been printed from the beginning of this year long before Sanusi became the CBN gov.

kristos:


FYI the polymer notes has been printed from the beginning of this year long before Sanusi became the CBN gov.

No need arguing. Lets wait and see who's signature wld be on the notes.
If they were printed at the biginning of the year, it'll definitely be Soludo's.

na d next agenda be dat

franctony:

the notes will soon be stained by the fuel we buy for our generators since there is no electricity in the country

Ujujoan:

Is that the way to make money now in CBN? Change currency notes?

koolchicco:

Changing of currency notes.Is this our major problem?

Ajike link=topic=324873.msg4562711#msg4562711 date=1253201587:

@ franctony, the notes will soon be stained by the fuel we buy for our generators since there is no electricity in the country

abeg do electricity first jooo, it is not wen u work u go get moni wether polmer or polymer abi wetin dem dey call am self

WackyJ1:

Gbam! Thats true talk!!!
Will not bringing the new notes bring us electricity. The #20 is more durable, waterproof and pleasant to the eye than the paper notes.
To me the #20 is better than the dry paper notes.
It also reduces the risk of breast cancer for those women who put money in their b**

isiegonwa:

u pple are tallking about 7 point agenda not knowing that it the untouchable.

If only Seun can lure the members of the house of assembly, the representatives, governors and Mr president to Nairaland.

Seun take your advert to the next level pls

Most nigerians have lost faith in almost everything that has to do with the government. Changing the Naira notes to polymer is nothing bad but just that because of failure of previous policies, an average nigerian will always find it difficult to believe that the government has anything good to offer.

Please Nairalander, are they also saying that all the polymer denominations be dispensed by the Automated Teller Machine(ATM), Or what? Because current situation is that the ATM dispensed 1000 & 500 Naira note only. I don't know if that's done everywhere tho.





ogidiolu

This is good news

What a waste of public funds, this is the new style to steal money, ASSU are on strike nobody talk about them, in short NIGERIA is dome for LIFE with these so-called confused and domed leaders we have, Graduated fools thats behave and acts as KG2 pupil. they want to introduce the Arabic writing again and input sanu isi name and hell signature, EVERY BODY WANT MAKE NAME, STUDENTS DEY HOUSE, lectures dey house, lite no dey, water no dey, common education for even primary and secondary school no dey, work no dey, road no dey,
Make them go kill their selves, the 1st tin when dower be wan do na make them give am 2million abi na even 2billion make he take buy more generator to power abuja, that wan na from uni-ver-sity graduate,


Nigeria children they watch una ooohhh,

What a waste of public funds, this is the new style to steal money, ASSU are on strike nobody talk about them, in short NIGERIA is dome for LIFE with these so-called confused and domed leaders we have, Graduated fools thats behave and acts as KG2 pupil. they want to introduce the Arabic writing again and input sanu isi name and hell signature, EVERY BODY WANT MAKE NAME, STUDENTS DEY HOUSE, lectures dey house, lite no dey, water no dey, common education for even primary and secondary school no dey, work no dey, road no dey,
Make them go kill their selves, the 1st tin when dower be wan do na make them give am 2million abi na even 2billion make he take buy more generator to power abuja, that wan na from uni-ver-sity graduate,


Nigeria children they watch una ooohhh,

i freaking hate this country, this so called leaders lay more emphasis on monetary issues instead of seeing to the needs of the common Nigerians. what is my business with CBN issuing the lower denomination notes in Polymer. we hear billions everyday and we are not seeing the effect of this money they pump in. Electricity is the main problem in this country and i think they should find a lasting solution to the problem instead of wasting so much money on things that is irrelevant to the suffering Nigerians.

Its all a false Welcome development.

These thiefs have come again. Have a good look at a dilapidated 20 naira note and you'll surely doubt if this is a good idea at all.

Its like they wan carry the money for body swim enter europe.

this is total waste of public funds. They should be more concerned about ASSU Strike

how many of our senators still handle N50 notes, not to talk of N10 or N5? all this window dressing won't help us!

These polymer naira notes is not the solution to our problem. . . we should look into electricity.

no. maybe they want us to use them as fossil fuel to run our no boro generators!

every one need there signature on new notes. Sanusi I will forward mine too for you to change one naira coins.Dumb idea no new thing

Some of you are quite funnny.


The only thing changing in the currency it that it becomes Polymer. Soludo did it with the N20 note and the plan was to introduce the N5, N10, N50 this year but, becasue it is Sanusi he has a hidden agenda.

Even though he has said what change will be on the notes:

He said; “The existing denominations of N5, N10, and N50 paper notes remain legal tender and will circulate side by side with the new polymer notes for the next six months. The new N5, N10, and N50 polymer notes have retained their current sizes, designs and other key elements. Only the watermark has been replaced with the transparent window and G-switch which turns from green to gold when the note is tilted.”

And to the person asking how will this affect the common man, it cost money to print money. Printing money that will last for a long time will save cost in the long run. Under Soludo they tried it with the N20 and it showed it saved cost in the long run. quote NAIJATODAY

Thank you jare
Really its annoying when people just spew dust as contribution to the thread without looking at the topic above.

Has it not been proved by the CBN that its is cost effective and durable.

Its true we need Electricity but when do Sanusi double as the Minister for power and steel

Please Read the topic above before contributing.

that's not the point. why is he in a hurry to do everything at once? where is he rushing to?

It seems you are the Deputy CBN Gov, so you are privy to the information when its right for the CBN to print new notes.

What informed your decision that this is not the right time to print new notes or do you work with the printing Corporation of Nigeria.

Please leave Sanusi alone and let him perform optimally in his various responsibility assigned to him.

Nice because this will provide electricity,standardize educations sector,reduce poverty and ensure individual safety, Nigeria is real Dem O Crazy Or Demo Crazy or Crazy Demo, I will rather said craziness na him dey demo this time