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Y Not Redominate The Naira??? - Politics - Nairaland

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Y Not Redominate The Naira??? by KnowAll(m): 11:05am On Nov 05, 2022
As we are bringing in new Naira notes come December 15, is it not time we revisit Soludo’s redominating of d Naira as of today Naira is £1.00 to 962 Naira.

So all we have to do is divide d current exchange rate by 100 & that would make 96 kobo to £1.00

What is wrong about going this route. At least Ghana did & heaven has not fallen.
Re: Y Not Redominate The Naira??? by Nobody: 11:07am On Nov 05, 2022
Best idea
Re: Y Not Redominate The Naira??? by Sinda11: 11:09am On Nov 05, 2022
Applicable
Re: Y Not Redominate The Naira??? by KnowAll(m): 11:12am On Nov 05, 2022
Sinda11:
Applicable

Thanks, any country can bench mark their currency on any currency with time if d country is not doing well d currency would start losing value.

The new Ghanaian Cedis was 1 to 1 to d dollar.?Today it is 1 to 17

So y not go this route for Nigerians.
Re: Y Not Redominate The Naira??? by Nobody: 11:14am On Nov 05, 2022
KnowAll:
As we are bringing in new Naira notes come December 15, is it not time we revisit Soludo’s redominating of d Naira as of today Naira is £1.00 to 962 Naira.

So all we have to do is divide d current exchange rate by 100 & that would make 96 kobo to £1.00

What is wrong about going this route. At least Ghana did & heaven has not fallen.

Perfect idea...but you've forgotten that the ogas at the top and sense are two parallel lines that dont meet
Re: Y Not Redominate The Naira??? by mrvitalis(m): 11:36am On Nov 05, 2022
KnowAll:
As we are bringing in new Naira notes come December 15, is it not time we revisit Soludo’s redominating of d Naira as of today Naira is £1.00 to 962 Naira.

So all we have to do is divide d current exchange rate by 100 & that would make 96 kobo to £1.00

What is wrong about going this route. At least Ghana did & heaven has not fallen.
Ghana
Re: Y Not Redominate The Naira??? by Nigerialabalaba: 11:52am On Nov 05, 2022
KnowAll:
As we are bringing in new Naira notes come December 15, is it not time we revisit Soludo’s redominating of d Naira as of today Naira is £1.00 to 962 Naira.

So all we have to do is divide d current exchange rate by 100 & that would make 96 kobo to £1.00

What is wrong about going this route. At least Ghana did & heaven has not fallen.
why u no kuku change naira to cedis? Na oversabi and too much sense go kee you las las.
Wen ghana wey do am today don turn dia cedi to almost toilet paper, u no get sense from dem calamity and u want make we go enter dat yeye tin again. You fit redominate ur own money, nobody go arrest you. If you buy N1000 suya from malam, instead give am N10 and tell am say u don redominate ur own naira. yeye

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Re: Y Not Redominate The Naira??? by jimyjames(m): 12:00pm On Nov 05, 2022
KnowAll:
As we are bringing in new Naira notes come December 15, is it not time we revisit Soludo’s redominating of d Naira as of today Naira is £1.00 to 962 Naira.

So all we have to do is divide d current exchange rate by 100 & that would make 96 kobo to £1.00

What is wrong about going this route. At least Ghana did & heaven has not fallen.
It won't change the value of the naira , the value of Ghana cedis is worse than that of Nigeria , resonating of currency is just a cover of currency from shame
Re: Y Not Redominate The Naira??? by Zandena(f): 12:34pm On Nov 05, 2022
This is not the best way to go about as it will still not work. Ghanaians are also regretting that redenomination of Cedis, today, Cedis is the worst performing currency on the African continent which has usurp the benefits of exercise.
Nigeria should upscale its production capacity with value addition that makes made in Nigeria products attractive at international markets. This would heavily reduce imports and its attendant quest for dollar.
Anything less than that will be exercise in futility!
Re: Y Not Redominate The Naira??? by KnowAll(m): 1:19pm On Nov 05, 2022
Nigerialabalaba:

why u no kuku change naira to cedis? Na oversabi and too much sense go kee you las las.
Wen ghana wey do am today don turn dia cedi to almost toilet paper, u no get sense from dem calamity and u want make we go enter dat yeye tin again. You fit redominate ur own money, nobody go arrest you. If you buy N1000 suya from malam, instead give am N10 and tell am say u don redominate ur own naira. yeye


The problem is a lot Nigerians love the idea of having 1.5 million in d bank as supposed to 1,500 Naira. They are suddenly not a millionaire anymore.
Re: Y Not Redominate The Naira??? by KnowAll(m): 1:21pm On Nov 05, 2022
We love that millionaire status. 1 million today wey no fit buy anything.
Re: Y Not Redominate The Naira??? by Nigerialabalaba: 1:32pm On Nov 05, 2022
KnowAll:



The problem is a lot Nigerians love the idea of having 1.5 million in d bank as supposed to 1,500 Naira. They are suddenly not a millionaire anymore.
Oga no be so! Even if u remove am, e no do anything..For Ghana, all d redenomination now na scam becos d new cedi don turn to old cedi. Ghanaians dey vex even more
Re: Y Not Redominate The Naira??? by KnowAll(m): 1:34pm On Nov 05, 2022
Nigerialabalaba:
Oga no be so! Even if u remove am, e no do anything..For Ghana, all d redenomination now na scam becos d new cedi don turn to old cedi. Ghanaians dey vex even more

But u would not have all those humongous figures 2.5 million wey no pass $200.00

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