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Nigerian Naira Vs GHANAIAN CEDI Strength - Politics (3) - Nairaland

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Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 2:22pm On Jun 09
PetroDolla2020:
any time you happen to be in Ghana and want to change your naira into cedis, tell the money changer that Ghana removed four zeros from its currency and so he should add the 4 zeros to the money he is paying you cool


Look dude, I have no time for your 'cutting nose to spite face' idiocy nor empty d1ck currency because I am a winner who focuses on what is real in the quest for success and the informed advantages that guarantees winning results.

Dispute the real example I give above, using real commodities that can feature in an 'inflation goods basket', showing the real and greater comparative value of Naira over Cedis, or get lost. Don't let some illiterate and self-hating Nigerians mumu you.

Nigeria is full of far brighter people than those Nairaland parades. So don't come thinking you will get anything but slaps because a few self-hating but ultimately ignorant Nigerians are giving you 'liver'.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 2:41pm On Jun 09
coolcharm:
What can 4 cedi buy? And what can 400 Naira buy?

That's the true measure of a currencies strength.

Don't be fooled by the 4 cedi narrative. Add four zeros (0000) in front of any cedi to get the actual value of it.

Thank you ojare. So many self-hating and disgracefully ignorant Nigerians online these days insulting and demeaning Nigeria foolishly.

Why won't troublemaking Ghanaians, Cameroonians, Malian etal be emboldened to come here looking to rub our faces in the sand when we do a fine job ignorantly and falsely portraying our nation as worthless while crowning glorified and overhyped nations as better than us?

The Cedi is a near worthless currency and the inflation over there is off the scale and running at double the rate in Nigeria across virtually all the items in an identical inflation basket of goods from both nation.

BOTTOM line is that the naira equivalent of the cedi can buy more of any measure of identical goods of equal volume and size in Ghana making it the more valuable curency.

You would need 4-5 Cedis to buy a can of malt in Ghana whereas the same can of malt can be bought for just 149 Naira or just over 2 cedis in Nigeria.

How any grown adults who has ever entered a classroom cannot understand the real comparison of currency value is beyond me given the number of times Nigerians have publicly and erroneously praised Ghana's redenominated currency as more valuable than Naira. For some Nigerians it is about using anything, even ignorant lies, to bash Nigeria.

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Re: Nigerian Naira Vs GHANAIAN CEDI Strength by ojobek: 2:42pm On Jun 09
You lack knowledge,instead of seeking for it,you jump into conclusion by calling names.You are the real "IDIOT"
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by gonkin(m): 2:46pm On Jun 09
OneTemplate:


You might not like his response but he is telling you the truth. With all due respect, you are an economic illiterate.

Ghana redenominated her currency, i.e took away a few decimal places, so the currency would become less unwieldy so that paying for even a few dozen tin milk would not involve millions of cedi as was the case before Redenominating of the Cedi.

If I had a kobo for every Nigerian who has made this simplistic argument you make, simply to disparage Nigeria and praise Ghana or others, then I would at least have perhaps 20k Naira now.

The value of the Cedi did not increase with redinomation to make it more valuable than Naira. Nigeria too can redenominate the naira today to make 500 Naira 5 naira. Perhaps the simplistic comparison of the new redinominated 5 Naira will show you it remains a more value-inherent currency than 5 cedis.

Well UNDUE respect stop acting like it's a rapport form of interaction. His os You're better than your level of criticism. Your intro is for u
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 2:48pm On Jun 09
caprini1:
You just summarised it completely....people that haven't travelled out of their bedroom are always economic specialist. 400 naira can get you a meal of rice ,plantain ,meat and pure water in Nigeria,but 4 cedi can only get you one good fried titus fish head in ghana.


Lol. You're not lying sha. Yet try telling that to the millions of self-hating but very ignorant Nigerians who don't "travel out of their bedroom" yet think they are Charles Soludo.

1 Like

Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 2:52pm On Jun 09
gonkin:


Oga stop acting like it's a rapport form of interaction. You're better than your level of criticism. Your intro is for u


Better than what? Better than being annoyed at the senseless antics off self-hating Nigerians who continue to malign their own Nation with lies and fallacies in the hope of portraying her as worthless to the world?

Do some Nigerians even know what is going on in other nations that their citizens hide only for the same people to be cackling at Nigeria because we do a great job disgracing and belittling ourselves?

Yes we have problems but let's learn to keep it real.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by PetroDolla2020: 2:53pm On Jun 09
PURE RUBBISH! cool ARRANT CRAP!

OneTemplate:


Look dude, I have no time for your 'cutting nose to spite face' idiocy nor empty d1ck currency because I am a winner who focuses on what is real in the quest for success and the informed advantages that guarantees winning results.

Dispute the real example I give above, using real commodities that can feature in an 'inflation goods basket', showing the real and greater comparative value of Naira over Cedis, or get lost. Don't let some illiterate and self-hating Nigerians mumu you.

Nigeria is full of far brighter people than those Nairaland parades. So don't come thinking you will get anything but slaps because a few self-hating but ultimately ignorant Nigerians are giving you 'liver'.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by gonkin(m): 2:55pm On Jun 09
OneTemplate:



Better than what? Better than being annoyed at the senseless antics off self-hating Nigerians who continue to malign their own Nation with lies and fallacies in the hope of portraying her as worthless to the world?

Do some Nigerians even know what is going on in other nations that their citizens hide only for the same people to be cackling at Nigeria because we do a great job disgracing and belittling ourselves?

Yes we have problems but let's learn to keep it real.

Well its my topic. You're just one of the duffs in it. After sometime you'll move on. So keep pumping ur chest
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 2:59pm On Jun 09
PetroDolla2020:
PURE RUBBISH! cool ARRANT CRAP!

[s][/s]

Lol. Typical Ghanaian midget. They gave a real example he can dispute with real facts and figures but he resorts to childishness.

Your as empty as your overhyped nation 'charlie' that only ignoramuses praise.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 3:01pm On Jun 09
gonkin:


Well its my topic. You're just one of the duffs in it. After sometime you'll move on. So keep pumping ur chest

Lol. Your 'topic' is dead and the many informed and educated posters who commented to dispel the ignorance and mischief you're selling ensured that. cool

In your first comment you insulted the Naira because of your own ignorance and self-hatred only to now be playing the victim when some proud and knowledgeable Nigerians correct your ignorance.

Abeg go back to school. After you have been educated do you not now feel you owe Nigerians an apology with your "big shame" pun against the Naira, below, when the simple fact is that we never needed to redenominate like Ghana where they were paying for a pair of shoes with over a million cedis before Ghana redenominate in 2007?

The only thing that is a big shame is your self-hating ignorance.

I then compared the cedi to the naira and its a big shame
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by budaatum: 3:07pm On Jun 09
The greatest devaluer of our currency and our selves is our inability to discuss in a civil manner and learn from one another.

We all form "my brain is better than my neighbours", but behave worse than our neighbours and even enemies would behave!

If you are smart and intelligent and wise, you will show it by blessing all those who hate you so that we may see your good behaviour and say, "Whao! What a decent well-behaved respectful individual you must be, and intelligent to boot too. Can I marry you please? I beg".

Few words serve those who would be wise.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by gonkin(m): 3:15pm On Jun 09
OneTemplate:


Lol. Your 'topic' is dead and the many informed and educated posters who commented to dispel the ignorance and mischief you're selling ensured that. cool

In your first comment you insulted the Naira because of your own ignorance and self-hatred only to now be playing the victim when some proud and knowledgeable Nigerians correct your ignorance.

Abeg go back to school. After you have been educated do you not now feel you owe Nigerians an apology with your "big shame" pun against the Naira, below, when the simple fact is that we never needed to redenominate like Ghana where they were paying for a pair of shoes with over a million cedis before Ghana redenominate in 2007?

The only thing that is a big shame is your self-hating ignorance.




Are u done?
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by PetroDolla2020: 3:25pm On Jun 09
OneTemplate:


Lol. Typical Ghanaian midget. They gave a real example he can dispute with real facts and figures but he resorts to childishness.

Your as empty as your overhyped nation 'charlie' that only ignoramuses praise.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by lebuhsi(m): 3:46pm On Jun 09
seunmsg:


In simple terms, we don’t earn enough foreign exchange to keep the Naira strong. We don’t produce anything that other countries require other than crude oil. The little forex we earn from crude oil, we spend almost everything to import refined petroleum products and sell in Naira at subsidized rates.

Political elites and even the citizens are not helping matters. Our elites steal money and horde them in foreign currencies. Citizens also gave a very high taste for anything foreign. So, we keep using our little forex to meet all these demands.

There is, however, a green light at the end of the tunnel with Dangote refinery. Once it comes on board fully next year, we should be able to significantly reduce our importation bills. With other government policies in the Agric sector, mining etc, the Naira May start getting stronger by end of next year other things being equal. I’m just being optimistic.

A whooping $3bn per anuum, that would be significant you have failed to add the fertiliser plant too(also Crude oil would be bought in Naira)
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by chrisooblog: 3:52pm On Jun 09
To be fair I think the poster was asking to be educated not that he had a definitive position. From his later responses you can see he understands the issue better.

Wish most nairaland threads could be like this all the time. Cross examine and interrogate ideas not everytime degenerate to insults and name calling.

OneTemplate:


You might not like his response but he is telling you the truth. With all due respect, you are an economic illiterate.

Ghana redenominated her currency, i.e took away a few decimal places, so the currency would become less unwieldy so that paying for even a few dozen tin milk would not involve millions of cedi as was the case before Redenominating of the Cedi.

If I had a kobo for every Nigerian who has made this simplistic argument you make, simply to disparage Nigeria and praise Ghana or others, then I would at least have perhaps 20k Naira now.

The value of the Cedi did not increase with redinomation to make it more valuable than Naira. Nigeria too can redenominate the naira today to make 500 Naira 5 naira. Perhaps the simplistic comparison of the new redinominated 5 Naira will show you it remains a more value-inherent currency than 5 cedis.

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Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Oracleforce: 3:59pm On Jun 09
Lifestone:
They rebased their currency by removing four zeros, so if you had 100,000 cedis in your bank account, it becomes 10 cedis.
Hope you get

OP just came here to disgrace himself....he didn't research his post very well b4 he started commenting trash...

Ghanaian devalued their currency to meet up with the global market.....
If Nigeria devalue their currency with 000 then we dollar and UK pounds will be 4 and 5 naira respectively...
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Perfectbeing(m): 4:03pm On Jun 09
Kinematics:



Sheer lack of understanding is disturbing you. How can you compare 4 cedi to 4 naira? Did Nigeria redenominate her currency?
Read mature comments here and stop spewing ignorance.
He seems not to understand that if Nigeria redenominates
her currency like Ghana did, N1000 will become N1
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Perfectbeing(m): 4:09pm On Jun 09
seunsiju:

Quite true tho...
Cedi is so weak inside Ghana but so strong outside Ghana ....
Last month I change two thousand Naira to 20 Cedis at Aflao Border .....Togo.....
End of discussion
nice write up. Please I wanna know, can that 20 Ghana cedis purchase the same thing that N2000 can purchase here in Nigeria? I mean the same quality.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by DubaiLandLord: 4:14pm On Jun 09
PetroDolla2020:
have you been to Norway before? Things are prohibitively expensive in Norway than in most parts of the world. Yet Norway is considered one of the world's richest countries in the world.

Prices alone is not yardstick for measuring anything.

okay, because a bottle of water is more expensive in the UK than Nigeria, does it make Nigeria better than the UK?

What is the minimum wage in Norway compared to Ghana?
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 4:21pm On Jun 09
Perfectbeing:
nice write up. Please I wanna know, can that 20 Ghana cedis purchase the same thing that N2000 can purchase here in Nigeria? I mean the same quality.

No. 2k Naira can buy 13 cans of Maltina or Malta at Shoprite in Nigeria, at 150 Naira per can, while 20cedis will get you 4 of 5 max cans of the same Maltina or Malta in Shoprite Ghana at 4-5 cedis per can.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 4:24pm On Jun 09
chrisooblog:
To be fair I think the poster was asking to be educated not that he had a definitive position. From his later responses you can see he understands the issue better.

Wish most nairaland threads could be like this all the time. Cross examine and interrogate ideas not everytime degenerate to insults and name calling.


It was the glaring intended pun in his first post that shows he had a preconceived negative opinion of the Naira against a redenominated Ghanaian Cedis that actually has less value than our own Naira.

Gracious of you to think he wants to be educated but truth is that his ungracious words means he could be one of many who always want to compare Nigeria negatively to others to justify bashing her and proclaiming her worthless.

You yourself can interpret the parts in bold below to see if they fit with with a desire to be educated or more with an agenda to denigrate.



I then compared the cedi to the naira and its a big shame

Naira is 411 to a dollar , cedi is 4 to a dollar.

I remember when i was little sometime around 2004 we used to criticise the Ghanaian cedi. Cuz u would hear statements like 1 biscuit is worth 100000 cedis now how did they fix their currency and how can Nigeria fix theirs. Cuz its a big shame and the idiots in power are least concerned about it. They're more interested in twitter.

So what idea or clue can be used to reset the naira cuz them 2 no be mate.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by seunsiju(m): 4:27pm On Jun 09
Perfectbeing:
nice write up. Please I wanna know, can that 20 Ghana cedis purchase the same thing that N2000 can purchase here in Nigeria? I mean the same quality.
Yeah it can even purchase more than that.....Cedi is one of the currencies in the world that weak at home but strong abroad
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 4:34pm On Jun 09
seunsiju:

Yeah it can even purchase more than that.....Cedi is one of the currencies in the world that weak at home but strong abroad

What you write makes no economic or logical sense. You cannot spend twenty cedis in Nigeria or the UK.

You can only convert 20 Cedis to pounds and Naira to spend in the UK and Nigeria respectively. If 20 Cedis buy 4 cans of Maltin a a in Ghana and it's equivalent in Naira buys 14 cans of the same drink in Nigeria then your statement makes no sense because the value of a currency is fixed.


Impossible for the Cedi to have more value, if it is intrinsically weak at home in Ghana, by merely taking it abroad.

The strength of the Cedis, and its direct purchasing power, is an indicator of the strength of the Ghanaian economy and comaprative productivity.

If the cedi buys more abroad than it does in Ghana, when converted to foreign currency, this is indicated only of how expensive and weak the Ghanaian economy and how Ghana may be experiencing hyperinflation.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by seunsiju(m): 4:36pm On Jun 09
OneTemplate:


What you write makes no economic or logical sense. You cannot spend twenty cedis in Nigeria or the UK.

You can only convert 20 Cedis to pounds and Naira to spend in the UK and Nigeria respectively. If 20 Cedis buy 4 cans of Maltin a in Ghana and it's equivalent in Naira buys 14 cans of the same drink in Nigeria then your statement makes no sense because the value of a currency is fixed.

Impossible for the Cedi to have more value, if it is intrinsically weak at home in Ghana, by merely taking it abroad.

The strength of the Cedis, and its direct purchasing power, is an indicator of the strength of the Ghanaian economy and comaprative productivity.
Put it in mind that you're not changing Cedis to naira in bank but from local bureau de change and 1 Cedi is equal to 100 naira .....
Evaluate your point
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by kponkedenge(m): 4:36pm On Jun 09
Lifestone:
They rebased their currency by removing four zeros, so if you had 100,000 cedis in your bank account, it becomes 10 cedis.
Hope you get

I remember Soludo bringing up the idea to do in Nigeria.... But people complained he shouldn't do it.... Ghana later adopted the idea and we are all complaining now about how worthless the Naira is.
But most of you all at that time didn't want Soludo to implement it.... Our Naira would have still had some value now.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by OneTemplate: 4:43pm On Jun 09
seunsiju:

Put it in mind that you're not changing Cedis to naira in bank but from local bureau de change and 1 Cedi is equal to 100 naira .....
Evaluate your point

I understand you. What I am saying is that Cedis weakness at home in Ghana indicates hyper-inflation. It is not a good thing at all.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Antoeni(m): 4:49pm On Jun 09
Abeg level that thing,
If Not For Nigeria Yahoo Boys Run the Economy of Ghana,
Ghana Na dead
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by seunsiju(m): 4:54pm On Jun 09
OneTemplate:


I understand you. What I am saying is that Cedis weakness at home in Ghana indicates hyper-inflation. It is not a good thing at all.
I agree with that....but as a Nigerian living and working there...it's a good thing for me...I even pray Naira devalued more.....Let me hold enough Cedis then back to Naija to ball
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Perfectbeing(m): 5:18pm On Jun 09
OneTemplate:


No. 2k Naira can buy 13 cans of Maltina or Malta at Shoprite in Nigeria, at 150 Naira per can, while 20cedis will get you 4 of 5 max cans of the same Maltina or Malta in Shoprite Ghana at 4-5 cedis per can.
Thanks. In all my years of schooling I got to know about redenomination today. Tho I'm an engineering student. I didn't do much economics back in secondary school. Now I know better.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Atteraino(m): 5:45pm On Jun 09
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Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Onuh2020(m): 5:49pm On Jun 09
Nigeria economy is still better than Ghana. Before 2007 big businesses in Ghana could not keep their accounts and record because of the volume of figures. Imagine using like 200,000 cedi to buy a biscuit which is now equivalent of 20 cedi.
We need to improve in production activities. There are no rocket science solutions other than increasing production capacity deliberately. Nigeria has whatever to diversify the economy from Oil dependency to agriculture. If we use half of the energy we use in complaining and fighting our selves in production activities the sky will be a starting point. Let me stop.
God bless Nigeria.
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Lifestone(m): 5:54pm On Jun 09
kponkedenge:


I remember Soludo bringing up the idea to do in Nigeria.... But people complained he shouldn't do it.... Ghana later adopted the idea and we are all complaining now about how worthless the Naira is.
But most of you all at that time didn't want Soludo to implement it.... Our Naira would have still had some value now.
It's a useless policy. It only window dressed the issue and hasn't helped Ghana in anyway. For example after chopping off four zeros from the money, the currency has began a gradual slide back and if the fundamental issues are not addressed, the woes will continue.

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