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How Relevant Is The N5 Naira Note Today? - Business - Nairaland

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How Relevant Is The N5 Naira Note Today? by 0079jaBond(m): 8:47pm On Feb 17, 2017
So recently I was wondering what could've gone wrong with the value of the Nigerian Naira currency and yesterday, I was pulled back to come to terms with reality when the regular sachet (pure) water which was commonly pegged at N5 Naira was sold for N10. Also, two 'pure' water was sold for N10 Naira before but now it sells for N20 Naira. Well, it's not as if I'm just getting to know this but yesterday's experience brought a lot of questions to mind.

In times past, we have complained of the reduced value in our coins and we're yet to find a lasting solution. Now the N5 Naira Note has been eaten up completely; I searched through to find what it could buy but sadly, nothing, not even sweet or biscuit! Like seriously, how did we get here as a nation? Is this how we intend to grow?

Moreover, it's quite difficult to see the N5 note in the market today and I can't remember the last time I had it in my wallet. Even 'agberos', bus conductors and commercial drivers don't have it! And gradually, it's beginning to eat up the N10 note as well. More disheartening is to know that our little neighbouring country like Ghana has better exchange rates than us. Last time I checked, 1 Ghana Cedis went for N50 Naira. Of course, this problem didn't just start; it's been there for many years and it keeps compounding as no government seems to know how to turn the tide or care about it anyway.

So, is it safe to say the Central Bank of Nigeria should stop producing the N5 Naira note in order to save cost? What went wrong and how can we correct the ills? Or does the N5 Naira note still have relevance in your area?


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Re: How Relevant Is The N5 Naira Note Today? by loomer: 8:51pm On Feb 17, 2017
E still fit buy chewing gum

1 Like

Re: How Relevant Is The N5 Naira Note Today? by 0079jaBond(m): 8:57pm On Feb 17, 2017
loomer:
E still fit buy chewing gum

chewing gum for where I doubt
Re: How Relevant Is The N5 Naira Note Today? by Epositive(m): 9:03pm On Feb 17, 2017
op u said it all,,, 5naira is now as useless as an expired credit card... it's annoying!!!

#positivevibes

1 Like

Re: How Relevant Is The N5 Naira Note Today? by loomer: 9:48pm On Feb 17, 2017
0079jaBond:

chewing gum for where I doubt


Talk true
Re: How Relevant Is The N5 Naira Note Today? by 0079jaBond(m): 10:21pm On Feb 17, 2017
loomer:



Talk true

Is true I talk o
But come to think of it, of what relevance is "chewing gum" to guarantee the value of our currency?
Re: How Relevant Is The N5 Naira Note Today? by loomer: 10:43pm On Feb 17, 2017
0079jaBond:

Is true I talk o
But come to think of it, of what relevance is "chewing gum" to guarantee the value of our currency?

Naija money tire me

1 Like

Re: How Relevant Is The N5 Naira Note Today? by 0079jaBond(m): 10:54pm On Feb 17, 2017
Epositive:
op u said it all,,, 5naira is now as useless as an expired credit card... it's annoying!!!

#positivevibes

absolutely my bro, and it has a worsening effect on the poor masses while the rich keep getting richer

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