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Is " No N10 Change " The New Trend In Nigeria? - Business - Nairaland

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Is " No N10 Change " The New Trend In Nigeria? by Bensondrums(m): 4:19pm On Dec 01, 2020
No d tin is very annoying now and it's no longer funny. I have been noticing it for quite some time now and if its same in your area then there is an impending doom..I entered a bus and d driver wanted t buy pure water and brought out N20 , the next thing the seller said was no N10 change..like seriously...so all the water you dey sell since morning na 20 20 naira own u dey sell? D man just annoyingly took the money back and said that is their new method now.. I just laughed it off.
Few hours later, I needed t get same water from a shop this time around, a shop o not those Hawking, and the lady said no N10 change...haaaa haaa, what happen? she couldnt give any explanation as to why she wasnt having the N10 change, she told me to replace the money with sweet.. well out of annoyance I took the sweet instead of the change....
Now, I know many of you will call me a stingy dude, but no, its way way more than what think. I'm angry not because its just N10, but because if this trend or act continues its going to affect the purchasing power Nd availability of the N10 notes..its definitely going to fizzle out just like N5 is no more useful again....na we dey by ourselves dey destroy this country... take a look at countries like Ghana, South Africa, USA and England, they still use C1, 1Rand, $1 and one £1 respectively but in our own case we are fizzling out our own even up to the tune of N10... we may think we are making profits by denying people of the N10 change but when our actions starts biting us in the future we will only have ourselves to blame.
Thank you.

Re: Is " No N10 Change " The New Trend In Nigeria? by dawnomike(m): 4:48pm On Dec 01, 2020
It is a Nigerian problem... Unknown to us, it causes inflation indirectly.
It started from people refusing to accept coins, to "No 5 naira change" and now no "10 naira"!!!

Implication
No coins - Automatically the least commodity became #5
No #5 - Automatically the least commodity you can purchase becomes 3 for #20

No #10 - Automatically, biscuit , pure water, candy will become #10 and above
Re: Is " No N10 Change " The New Trend In Nigeria? by Observer11: 6:08pm On Dec 01, 2020
Yawa
Re: Is " No N10 Change " The New Trend In Nigeria? by Slyzen(m): 6:35pm On Dec 01, 2020
The less commodity a particular currency denomination is able to purchase, the less its demand and availability. If you want to have more N10 notes in circulation, create more commodities that can be purchased for that price. This doesn't seem to be the case in Nigeria. In the U.S. a cup of starbucks coffee takeaway cost less than $5. in Nigeria, you'd get that for 1k or more. angry

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