Back in those days you could buy biscuits, sugar, water and other things using the naira coin, but it is no new news that the coin era has diaappeared. Some children dont even know the naira coin anymore but its still a form of money in Nigeria. Itas not even accepted in some parts of the country anymore. And this has contributed immensely to the hype of some goods, you cant buy biscuits or even kweli kweli without providing the naira note.

The only objective reason I have heard is that it is 'heavy' to carry around, but even at that other countries still use it.


In the UK you could buy things for 'cents' and a cent is also a very valuable unit of measurement over there, but what has happened to the Nigerian coin

Inflation of our currency killed its worth.

velo10:

Inflation of our currency killed its worth.

Most countries have suffered worse inflation than Nigeria, why havnt they stopped using the currency. It is hardly acceptable here sef

It was silly to introduce coins in the first place when there was hardly anything you could by or do with 50 kobo or one naira coin. Unlike the western world where you need 25 cents coins for vending machines, washing machines and stuff like that you definitely need coins but in Nigeria it is a different story.

i heard that the use of the coin is still prevalent in the north.

http://itworked.net/

^^^^
I think the first line above is the mistake many Nigerians make. Yes, there may be no products selling at 50kobo at the moment, but what about N1.50k, N10.25k, etc? Nigerians do not understand that by rejecting the coins, we are only cheating ourselves.

Let's take Cocacola as an example. If they need to increase the cost of coke from say N50 for one reason or another, the closest they can increase it to is N55 when maybe an increase to N52 may have been sufficient but because we do not have lower denominations,  it makes it impossible to do this. And this goes for every product in the market including transport fares. Operators will increase in multiples of N5 or N10 when a N1 increase may be sufficient. At the end of the day, its we the end users who suffer for it.

^^Exactly.
Just last week, i bought a ticket from p/harcourt airport to lagos by arik air and the cost was N25, 066.
i gave the woman behind the counter N25, 100 and she just gave me ticket and boarding pass without so much as an explanation.
seeing that boarding was already being announced, wetin i go do than to waka.

its as a result of IGNORANCE by you and i,am trying to be precise

the coin got eaten up by hyper-inflation. that's what!

pinkrex:

Back in those days you could buy biscuits, sugar, water and other things using the naira coin, but it is no new news that the coin era has diaappeared. Some children dont even know the naira coin anymore but its still a form of money in Nigeria. Itas not even accepted in some parts of the country anymore. And this has contributed immensely to the hype of some goods, you cant buy biscuits or even kweli kweli without providing the naira note.

The only objective reason I have heard is that it is 'heavy' to carry around, but even at that other countries still use it.


I[b]n the UK you could buy things for 'cents' and a cent i[/b]s also a very valuable unit of measurement over there, but what has happened to the Nigerian coin

Cents are not used in the UK. Cents is an American currency. You meant pence, right? Get your ish right.

^^^

So what if he made the mistake, so? Bottom line is that you understand his point, period.

proudly9ja:

^^^^
I think the first line above is the mistake many Nigerians make. Yes, there may be no products selling at 50kobo at the moment, but what about N1.50k, N10.25k, etc? Nigerians do not understand that by rejecting the coins, we are only cheating ourselves.

Let's take Cocacola as an example. If they need to increase the cost of coke from say N50 for one reason or another, the closest they can increase it to is N55 when maybe an increase to N52 may have been sufficient but because we do not have lower denominations,  it makes it impossible to do this. And this goes for every product in the market including transport fares. Operators will increase in multiples of N5 or N10 when a N1 increase may be sufficient. At the end of the day, its we the end users who suffer for it.

Enough said.

manny4life:

^^^

So what if he made the mistake, so? Bottom line is that you understand his point, period.

some mistakes need to be addressed. imagine someone saying we spend cedis in naija

Becos our govt official can not launder in coin. It is needless for them and the common man is not considered. It is an evidence of bad govt with no vision for growth. The same coins were minted some years back with tax payers funds but now nobody remebers them due to govt policies.

may GOD help us.

Princek12:

some mistakes need to be addressed. imagine someone saying we spend cedis in naija

Thank you for correcting him; though you had a good intention, I just thought your approach towards the correction was off.

down the toilet pit

The last time I heard of the coin was in a jingle, I believe it was when it was resized, What year was dat again?

I learnt the only people that found them useful were blacksmiths! They turned out to be cheaper than metals they bought from iron and aluminium (or whatever) mongers, so they just gathered them for their day to day smelting which kind of hastened their disappearance.

There are worthless like dead men's bones. But I know that the bones shall rise again one day.

Though inflation may have its own share of the blame but i think our attitude also contributed to it in a way,we complained a lot about its handling and govt also did not do much to defend coins. When i arrived at ghana my Nigeria mentality about coins almost made it difficult for me to cope with spending and receiving coins, but,ehh over a period of time i 've get used to it and the same can happen in Nigeria if CBN will rise to the occasion.The Bank of Ghana had issued a directive that makes all the banks to pay some certain percentage of coins to their withdrawing customers at the counters unless you use ATM.

no one wants dem,every body jst trying to act big. @ poster,abi u go gree cary coins 4 pocket? I can,who else can.

no one wants dem,every body jst trying to act big. @ poster,abi u go gree cary coins 4 pocket? I can,who else can.

what will you do if you travel to a country that use coins? you will throw them away?

i would use em.

Princek12:


Cents are not used in the UK. Cents is an American currency. You meant pence, right? Get your ish right.

Obviously you know i made a mistake, * covering ma eyes

manny4life:



Thank you for correcting him; though you had a good intention, I just thought your approach towards the correction was off.

BTW, i havnt seen a vital contribution from him so far except for him pointing out my error

it got hijacked by coin smiths! 

apparently it has more value being melted than when used as currency!