Who has noticed the excess Circulation of Nigeria highest currency, 1000 naira. You can obviously see it everywhere you turn to.
I believe when the economy is balanced, the highest denomination is supposed to be scarce, while the lesser denomination is supposed to abound in much higher quantity.

Do we have economist in the house? What do you think? Is there something the CBN isn't mentioning

it's very simple, inflation rate is rising.

Because the naira is mimicking the Zimbabwe dollar .
Meanwhile Nigeria is the only country i know that doesn't use coins yet the citizens gladly use same abroad.

This is a side effect of what is called currency debasement in economics. As a currency becomes more worthless it becomes more visible.
On the other hand Greshams law predicts that a valuable currency will be driven into hiding since it is a store of value. That is why you don't see much dollars, pounds, gold (or Bitcoin ! ) around.

It's. Ot abt inflation or evn any Gresham law... It's simply cuz of the machines at the ATM pays only 1k...............

Nigerians ahve Com to embrace the ATM more than online banking.. That's why 1k is very rampant..... Naira depreciation add just little to it....

For us to resume the use of coins.. The naira has to be decimalized.. I. e wipe some zeros off the numbers...e.g 1000 naira will b equivalent to 10

Blackmann001:
It's. Ot abt inflation or evn any Gresham law... It's simply cuz of the machines at the ATM pays only 1k...............

Nigerians ahve Com to embrace the ATM more than online banking.. That's why 1k is very rampant..... Naira depreciation add just little to it....

For us to resume the use of coins.. The naira has to be decimalized.. I. e wipe some zeros off the numbers...e.g 1000 naira will b equivalent to 10

thank you!
All ATMs I visit always vomit #1k, the ones vomiting #500 are considered nonfunctional
I have never seen ATM in Nigeria dispensing #10, #20, #50, #100 and #200, never!

Blackmann001:

For us to resume the use of coins.. The naira has to be decimalized.. I. e wipe some zeros off the numbers...e.g 1000 naira will b equivalent to 10

I support this decimalisation. It was d same tin that was done 2d Ghana cedis abi?

But no need going back 2coins. Afta decimalisation, 1kobo, 2kobo, 5kobo 10kobo, 20kobo, 50kobo, 1naira & 2naira can be printed as notes. They'll hv d value of d present N10, N20, N50, N100 & N200 notes.

While
Decimalised N5 = 50naira
Decimalised N10 = 100naira
Decimalised N20 = 200naira
Decimalised N50 = 500naira
Decimalised N100 = 1,000naira
Decimalised N200 = 2,000naira
Decimalised N500 = 5,000naira
Decimalised N1,000 = 10,000naira

E go too swt wallahi. Hehehe...

But d sweetest part is that if Buhari does it
$1 = N37

That's a wuruwuru way 4him 2fulfil his 2015 campaign promise. Ya Excellency, u can thank King kObOkO later *winks mischievously*

kingkoboko:


I support this decimalisation. It was d same tin that was done 2d Ghana cedis abi?

But no need going back 2coins. Afta decimalisation, 1kobo, 2kobo, 5kobo 10kobo, 20kobo, 50kobo, 1naira & 2naira can be printed as notes. They'll hv d value of d present N10, N20, N50, N100 & N200 notes.

While
Decimalised N5 = 50naira
Decimalised N10 = 100naira
Decimalised N20 = 200naira
Decimalised N50 = 500naira
Decimalised N100 = 1,000naira
Decimalised N200 = 2,000naira
Decimalised N500 = 5,000naira
Decimalised N1,000 = 10,000naira

E go too swt wallahi. Hehehe...

But d sweetest part is that if Buhari does it
$1 = N37

That's a wuruwuru way 4him 2fulfil his 2015 campaign promise. Ya Excellency, u can thank King kObOkO later *winks mischievously*

Nice analysis
Unofficially, the lowest denomination is 5 and you can't even buy anything with 5naira