After long hiding

ji

iyke2ken:



lol but sir, do you know how long the atm queues will be? some wicked Nigerians that wanto withdraw 100,000 will not now use the 1000 dispensing machines and use the #5 own, because they want change

Simple, the lower denomination ATM will programmed to have a certain limit of withdrawal. That is if there will be any need for a separate machine in the first place. I believe the existing ones can be programmed to disburse lower denominations for those collecting ceertain amount, say N2000 and bellow.

PMB2019, daura..

StarUp:
Money will be paid to make the mints and definitely kickbacks will be gotten by ogas at the top for giving out the lower denomination printing contract. Una wehdone!

Even if that is so, printing more of those denominations is still a good move for Nigeria in the long run.

Moreoffaith:
If the money is given to bank na sell dem go sell am last..

A won were Dede.

an egba is spotted

it is because we lack smaller currencies that makes seller to increase their products prices. i have had several encounters that because of 'change' , i paid 100 naira instead of 70naira or so.

For instance, keke NAPEP in my area started by telling passengers to pay 30 naira to one particular junction but as time goes on, they started telling passengers to pay 50 naira and if you have ' change', they will still collect 30 naira. i tell you, they have standardized that price to 50 naira. they can't even accept 40naira even if you have change

lonelydora:
Biko, they should send 80% of it to Port Harcourt. I don't understand what is happenig to smaller notes (especially 100 naira notes) in PH these days. Taxi/Bus drivers keep shouting....if you don't have change, don't enter. Also, Market women have sworn not to sell to anyone without change.

Ejiro in my street i wanted to dash money, even told me to look for 'change' before dashing him the money because he has no time to look for change.

Lol no be lie ooo, The matter worst for Lagos here.

Na police men hold all the change

ManirBK:
We should have more smaller notes than the big ones in circulation.Let CBN direct banks to load 200,100,50,20,10 and 5 notes in ATM machines like they do in abroad. It will bring value to our currency.

It will not increase value anything.

A two pronged approach might help:
(1) Promote digital economy and secure e-payment. That way cash will be less needed.

(2) Adopt Soludo's proposal rejected by Yar'Adua. Simply re-denominate the Naira like Ghana did to Cedis.

N1000 should become N100, better still N10. That way coins will come back into circulation. Ghana has done well with re-denomination for close to a decade now. Same time Soludo first proposed it. People value small bills when they have some value. I hardly ever use any bill below N100 and most people are like that I guess.

Time was when N5 in your pocket made you feel like a boss. You went to the super market and bought cake, biscuits, capri-sonne and other snacks with a few Naira in your pocket. People earned N100 monthly and lived fine. It was like that when Bubu brought his military coup that paved the way for other coups and our rapid decline.

BuhariCarryGo:



https://leadership.ng/2018/02/27/cbn-disburses-smaller-naira-notes-traders-end-scarcity/?_e_pi_=7%2CPAGE_ID10%2C3157300146

if what was reported is true. and are the word of Mrs eleje. I think she should be the queen is stupidityy.

so lower domination of currency is meant for informal sector and market women.


and she saying they will start distribution form wuse market and if successful they will go nationwide. are they distributing free or injecting the money.


an a agency of government is about to collapse like the civil service because many idiots are employed to man institutions that they are clueless about. simply because most were given a note by a senator.

insensitivity.

What is this one saying?what can a 5 or 10 Note buy and you expect someone to waste his time @ atm just to withdraw 5 notes,people should comment things that are realistic atimes do you know the cash processing cost that are incurred by banks before loading each atm(automated teller machine)please do not say ATM machine next time

ManirBK:
We should have more smaller notes than the big ones in circulation.Let CBN direct banks to load 200,100,50,20,10 and 5 notes in ATM machines like they do in abroad. It will bring value to our currency.

Hope they are in New notes and not those recycled ugly 100# notes we receive everyday?

Why won't small notes be scarce

In my opinion, what needs to be done is scrapping N1000 note and if possible even N500 note too! Yes you read that right! Making N200 the highest note or at most N500 is one of the best things that can happen to this country right now because it will automatically increase the value of the smaller ones, may cause prices of some products to decrease, render monies hidden by corrupthieves useless or force them to bring them out and most importantly discourage laundering, illegal/unreasonable currency stashing, etc, which is currently very easy for them since they can move a lot of money while handling lesser number of notes. No wonder most stashes are in dollars but plenty naira may still be hidden in so many places.

Just take a look at the highest denominations of major countries:-
UK = 50 pounds
USA/Canada/Australia = 100 dollars
UAE = 200 dirhams
South Africa = 500 rands
China = 500 yuan
France/Germany/Italy/Spain = 500 euros
and so on!
Even though the likes of UAE & Mexico also have 1000 notes and even some with higher notes like India (2k), Russia (5k), Japan (10k), S/Korea (50k), most, if not all of those countries are better than Nigeria in terms of level of development, sources of forex, local manufacturing, stability, etc.

It is also worth mentioning that these high denominations are not even common in some of those countries: in some places in the UK for example, 50 pound notes won't be accepted from you! Recently, the European Central Bank voted to end production and stop issuance of the 500-euro note by 2018, at which point the newly-released 200-euro Europa series banknote will be the highest circulating denomination in the eurozone (Coinweek.com). I am neither an economist nor a banker but why can't we emulate this? With notes like N1000, coins may not be of any use and prices will continue to remain high. I think doing away with high notes can help Nigeria to control the looting prowess of public officials and ultimately the flamboyant spending, thereby increasing the relevance of smaller currency notes.

I rest my case.

This scarcity is the cause of inflation. Traders & transporters increase prices by N50 for what they wld hav added N10 as a result of scarcity of smaller denominations

BuhariCarryGo:



https://leadership.ng/2018/02/27/cbn-disburses-smaller-naira-notes-traders-end-scarcity/?_e_pi_=7%2CPAGE_ID10%2C3157300146

CBN Lack capability in controlling nigeria currency.the absent of lower denomination currency must always affect cost of goods and services this means that when N1 is no longer in existence N5 will now be buying what N1 uses to buy that means N4 Increase have added to what N1 use to buy.absent of N5 is N5 increase on every thing that N5 uses to buy AND once purchasing power of lower currency is dead prices of goods and services must increase thus CBN as a governing body should be wise enough to know this not waiting for NAS to question the development before acting.Why should CBN allow 50Kobo,N1, N5 to lost their purchasing power.These are denomination that drives price stability and without them prices will be going up and down please restructure CBN.

Ever wondered why the price of goods and services are still cheaper in the far north were lower denomination are still in circulation?
During my last visit to the north, I was so amazed I would have immediately relocated, keep my degree under my bed if I can't get a job and start a small business but BH boys and these crazy religious wahala in the north nor allow person reason am.
I am not an economist, but I believe redenomination of our notes is the best way to go.

[

akeentech:
All these dirty N100 notes should be removed from circulation

So the thing reach your side... so annoying

BuhariCarryGo:



https://leadership.ng/2018/02/27/cbn-disburses-smaller-naira-notes-traders-end-scarcity/?_e_pi_=7%2CPAGE_ID10%2C3157300146

They should also disburse money to IDPs

Revealed: How Irigwe People Now Experience Daily Killings By Alleged Herdsmen, Number Of Dead Persons Rises To 100

 By admin on February 27, 2018 0 192 Views



Yakubu Busari

Killings in Miango communities of Bassa Local Government Area of Plateau state has left at least no fewer than 26 villages have been razed down by the alleged Fulani herdsmen attackers leaving as they also had killed about 99 people killed, while 44 people has been injured, and 863 houses razed down with food bans inclusive.

The Youth PRO , Comrade Lawrence Zogo confirmed that about 347 hectares of farm land producing dry season crops were destroyed and that they were worth millions of naira, 15 motor bikes and a bus was also burnt, while 24 irrigation water pumps weren’t also speared by the exterminators .

However, Comrade Lawrence Zogo said ,Federal and State Government under their watchful eyes has abandoned 23, 000 IDPs mostly Men, Women, Children are living below one dollar per day as poverty level has hit the people of Miango who are predominantly farmers .

Information available to this medium revealed that in the last five months, from September, 7th 2017 to February 10th 2018 the people of Miango villages in Bassa LGA of Plateau State are gruesomely murdered everyday by the attackers marauding as Fulani herdsmen on expansion agenda of wiping the entire race.

According to the statements, the people have estimated loss of billions of naira from damage done to their hectares of farmlands yet federal, state commence didn’t show sympathy to their plight.

Comrade Lawrence said the numerous attacks which began in Ncha village on 7th September, 2017 with the gruesome killings of more than twenty people, mostly made up of women and children murdered in cold blood in their sleep, as he said that houses were also razed down completely. Since that fateful day, peace has eluded the Irigwe nation.

He explained further that after the Ncha incident, the assailants have continued to launch nightly unexpected attacks in other communities in line with their threat that Ncha was just the beginning. Ever since then, we have continually woken up to news of attacks each day leaving tears, sorrow, despair and apprehension. For the avoidance of doubt, below are details of some of the attacks after Ncha
https://universalreportersng.com/revealed-how-irigwe-people-now-experience-daily-killings-by-alleged-herdsmen-number-of-dead-persons-rises-to-100/

Distribution of smaller denomination of naira is a good idea, but it should be done wisely(bit by bit) it's not like they should just load 5# notes in the ATM so that the queue would not be endless.

Moreoffaith:


How will that bring value to our currency??

By the time you withdraw 50k u will see how many 65naira Emefiele would have charge you..

Awon mofos.

Thank you Sir.

they should also bring out clean notes as well, the notes i have been getting from banks these days are so dirty rough and often times torn.

Greedy leaders. while hundred naira notes that should be is burnt is what Emefiele is circulating to Nigerians. CBN is calling for epidemic with the 100n notes. Who will save Nigerians from this time bomb.

CBN should withdraw all #1000 and #500 note then pump in the coins too and force all of us to use it.. Nigerians will Everly adapt.

What the f**k..The value should be forced!