I think Nigeria is just unfortunate to have foolish leaders, to be sincere the worst note in nigeria today is #100, and the lowest denomination today is #5, this same #5 cannot buy anything in nigeria, the present government is not helping issue. The only solution to reduce corruption in this country is to stop printing out #1000 nd #500, our highest denomination should be #200, print out #1 paper money and 50k. MumuRIC asking daft Buhari not to print out #100 because there's no Arabic inscription on #100 note, can't u see that's savagery, I am sure the spokes man for those terrorist MuMuRIC thinks from Anus at times.

I managed to give out one very awful N50 note I collected yesterday...

Mehn no be small plastic surgery them don do for the money body ooo.....

200N is least denomination I spend on daily basis, if not for this thread I wouldn't have realized its been long, I used N100 or N50 to trade, this country is just going to a dead end

Op you are so right. As a cashier we are constantly facing change wahala and most customers think is our own way of making money. The thing tire me gaskiya.

TO MY GREATEST SURPRISE..

ONE BANK MANAGER @ UBA CALLED ONE OF HIS CASHIER..


AND SAID PLEASE COME AND HELP ME SO THAT WE WILL LOAD ALL THESE DIRTY MONEY INTO ATM MACHINE...


I JUST LOOK AT THEM AND SMILE !!!!!

The money no buy anything again noni..

CHANGE has carried change away.

Divay22:
None is scare in my area.

Scare indeed.

They are working on bringing the Islamic inscription on the 100 naira note. The slate used in producing the old hundred naira note is missing.

SalamRushdie:
Another evidence of poor management from the Buhari Administration..the scarcity is a deliberate one driven by nepotism and bigotry 100 percent .. The Buhari govt has refused to replace those lower currency out of pure nepotism and bigotry

100 : worn out notes are not being replaced because the govt has refused to order new notes over concern about the lack of the Arabic Ajami on them and there is a plan to first re introduce the Ajami before new notes are printed ..


50, 20, 10, 5 naira: are being plagued by patent concerns over the use of polymer technology as the Nigerian govt have refused to order new notes from the patent owners of polymer minting technology because the believe Soludo gets a secret cut from orders paid for ..so the plan is also to return those currencies back to paper when the new design for the 100 naira is ready .

Well, government is not printing lower denomination notes because inflation.More lower denomination notes means more money in circulation..chasing goods at higher prices (because we don't have forex to buffer the naira like we did in the boom period of 2010-14).

Also, it means that costs of printing notes is higher...and when we live in a situation where oil prices are falling plus even at $70-80 we need oil at $140 and above per barrel just to balance our books (that's the real reason why GEJ was borrowing..oil was at $110-130..leaving a deficit of $10-30)....we have to save money and cut costs.

Has nothing to do with Ajami...or whatever.

judedave181:
I think Nigeria is just unfortunate to have foolish leaders, to be sincere the worst note in nigeria today is #100, and the lowest denomination today is #5, this same #5 cannot buy anything in nigeria, the present government is not helping issue. The only solution to reduce corruption in this country is to stop printing out #1000 nd #500, our highest denomination should be #200, print out #1 paper money and 50k. MumuRIC asking daft Buhari not to print out #100 because there's no Arabic inscription on #100 note, can't u see that's savagery, I am sure the spokes man for those terrorist MuMuRIC thinks from Anus at times.

Again, we stop printing N1000 and N500..and make N200 our highest denominaiton....that would massively increase costs of printing...because prices have not yet come down...meaning we need to print higher number of notes (increaisng costs ofproduction and draining our foreign reserve, which we have just managed to build up again after the previous admin depleted it). It also means more notes would be chasing few goods....inflation rises, and the bad economy becomes worse.

If you want the value of the naira to increase...you have to earn more FOREX...and just relying on oyel...or even on agriculture...is not enough.

Don't b surprise wen u suddenly see new 100 naira notes with Arabic inscription on it, That is thier plan..

thesolutions:
They are working on bringing the Islamic inscription on the 100 naira note. The slate used in producing the old hundred naira note is missing.

Well, the Ajami script has been there right from the days of the British...and the thing is...it isn't any Islamic stuff...it just gives the denomination in Hausa language written in Arabic script (Hausa, Iranian, Turkish , Urdu and a host of other languages, inculding some African languiages were first written down in the Arabic script before the Birtish brought in the Roman script).

And please, if we are to call Ajami islamic, we should call this Roman script we write in Pagan...because it was developed by a people who worshipped tons of Gods and Goddesses...and adapted for use by several languages.

Even English too....the days of the week are named after Pagan gods...eg Thursday (Thor's day). Friday (Freya's day). Wednesday (Woden or Odin's Day)...

My area is #50 & 100 but #5 cum excess.

tolexy007:
Don't b surprise wen u suddenly see new 100 naira notes with Arabic inscription on it, That is thier plan..

And why are you writing your response in the Roman script, developed by people who were worshipping Gods and Goddesses when it was first writ.?

Nigeria did not get islamised when ALL our currency carried Ajami script right from Colonial times. Infact, Christianity grew at a faster rate than Isalm back during the days when all our currency carried Ajami script. And Chrsitianity is going to keep growing...and the gates of hell shall never ever prevail....

APC has disappointed its generation.everything is auto-reverse.what is going?

Nd I end up using the change to buy something in the same store. So annoying

If you want change, go to the bank or the church you will get as much as you want.

theoldpretender:


Well, government is not printing lower denomination notes because inflation.More lower denomination notes means more money in circulation..chasing goods at higher prices (because we don't have forex to buffer the naira like we did in the boom period of 2010-14).

Also, it means that costs of printing notes is higher...and when we live in a situation where oil prices are falling plus even at $70-80 we need oil at $140 and above per barrel just to balance our books (that's the real reason why GEJ was borrowing..oil was at $110-130..leaving a deficit of $10-30)....we have to save money and cut costs.

Has nothing to do with Ajami...or whatever.



Again, we stop printing N1000 and N500..and make N200 our highest denominaiton....that would massively increase costs of printing...because prices have not yet come down...meaning we need to print higher number of notes (increaisng costs ofproduction and draining our foreign reserve, which we have just managed to build up again after the previous admin depleted it). It also means more notes would be chasing few goods....inflation rises, and the bad economy becomes worse.

If you want the value of the naira to increase...you have to earn more FOREX...and just relying on oyel...or even on agriculture...is not enough.

But there is an active budget still in place for replacing worn out notes so that defeats this your naive premise

SalamRushdie:


But there is an active budget still in place for replacing worn out notes so that defeats this your naive premise

There is, I daresay, but the problem is...it isn't enough.

The economy is not strong enough, the value of the naira is low..prices go up.

Note...we are not just replacing worn out notes...new ones too are to be printed. And in an economy like we have now...I won't be printing too many low denomination notes yet...it costs more, and as prices keep rising, the demand keeps rising...and pretty soon we start depleting the forex reserves again (something which our CBN governor won't like).

Modified....here is a blog post from 2012..which explains more..(reminds me of the attempt to bring in N5000...lol)

Quick thoughts on the new currency series.

First the new N5000 note. Think about how much you had in your wallet in 2005. The number of notes you needed to get by everyday in 2005. Now think about how much you need to have in your wallet to get through today. I bet your wallets are a lot fatter even though you may not be necessarily richer. The fact is with inflation at about 10% every year you need about twice as many notes than you did in 2005. Its easier on every one from people to businesses to banks to push fewer notes with the same value. A N5000 note makes things easier for everybody. Certainly a lot easier than taping 5 N1000 notes together. Will the new bill make things more expensive? Probably just as much as exchanging 5 N100 notes for 1 N500 note does. Doesn’t make a difference unless you are at a wedding.

Bottom line is as long as we have inflation of around 10% a year then we will need higher denominated currencies every few years and maybe even a currency re denomination at some point. The cashless policy might make all this redundant but that hasn’t really taken off yet.

XingXhang:


Scare indeed.

100 naira is no longer in circulation. Very scarce.

theoldpretender:


Well, the Ajami script has been there right from the days of the British...and the thing is...it isn't any Islamic stuff...it just gives the denomination in Hausa language written in Arabic script (Hausa, Iranian, Turkish , Urdu and a host of other languages, inculding some African languiages were first written down in the Arabic script before the Birtish brought in the Roman script).

And please, if we are to call Ajami islamic, we should call this Roman script we write in Pagan...because it was developed by a people who worshipped tons of Gods and Goddesses...and adapted for use by several languages.

Even English too....the days of the week are named after Pagan gods...eg Thursday (Thor's day). Friday (Freya's day). Wednesday (Woden or Odin's Day)...

Really? So we have been using money before colonization. Or perhaps, you mean the were colonized by the Arabs before the British and others that played a part.

If you say it was introduced because Arabs were our trade partners in our early formation, it would make sense because there was no boundaries then.

But now, our monies are for internal use. Those are not needed. There is a nation foreign currency accepted for foreign trade.

For a religious group to claim it as their property means they have something in mind.

My opinion though.

nairavsdollars:
I dont deal with lower denominations. Scarcity of dollars is my major headache

smh....just travel to US na wetin u still dey do for nigeria

thesolutions:


Really? So we have been using money before colonization. Or perhaps, you mean the were colonized by the Arabs before the British and others that played a part.

That is partly true to some extent...though we used things like Cowries,manillas, and gold....

Arabs never colonised any part of Nigeria. They came as traders, and also came to spread their religion peacefully.

If you say it was introduced because Arabs were our trade partners in our early formation, it would make sense because there was no boundaries then.

But now, our monies are for internal use. Those are not needed. There is a nation foreign currency accepted for foreign trade.

Ajami script is Hausa written in Arabic script. Not Arabic..

Arabic script is used to write other languages like Iranian and Urdu.(and was used in the past to write languages like Hausa.)
Chinese script has been used to write Japanese (Kanji) and Korean.
Roman script is the most common...used to write English, French, Spanish, and a host of other languages, Hausa, Yoruba and Igbo inclusive.

For a religious group to claim it as their property means they have something in mind.

My opinion though.

In my opinion, MURIC is just making a mountain out of a molehill.

My problem is that some Nigerians seem to think that a few Arabic looking words on our currency means that we are an Islamic country. It does nt mean that...just as the fact that most hospitals in Nigeria have a red cross, or that we observe Sunday as a day of rest does not mean that we are a Christian country.

TourismMan:
Have you noticed that you hardly buy something these days and the seller has N50, N100 and N200 for you as your balance? Once your balance is like N50 0r N100 most especially, sorry is your case because what you would mostly hear is "sorry abeg I not get N50 (or N100 as the case may be) change for you" and if peradventure there is, the N100 will be so thorn and worn, while the N50 would be wearing tape all over the body.

What is happening in the country? Where is our government, banks and other concerned bodies? What is going on? How is the situation in your area?

Buhari is planning to release ISLAMIC INSCRIPTION riddled Notes into the populace....Q.E.D

jaymejate:
These days if you have just one #5, just throw it away or wait till you see another one.

Please I'm looking for #5 to add to this one so I can use it to buy pure water.

come and take i have 3 five naira

we need 1naira note in this country

nairavsdollars:
I dont deal with lower denominations. Scarcity of dollars is my major headache

hmmm

Divay22:
None is scare in my area.

Which area is that please?

com to kano u will see many of them

koolguy88:
Same issue in my location, Kano.

Please, what are the banks doing about this?

Do you really want to know what bank are doing about it........
Bank want to create a sewing department.
employ tailors to be sewing the rotten #100 note

hmm