₦airaland Forum

grandstar:
What is all this economic illiteracy about?

Introduction of higher denominations has never led hyperinflation in Nigeria.

This is how it work: the central bank would withdraw N100BN of the lower denominations, and replace it with N100Bn of the new higher denominations. The central bank simply replaces higher denomination.

Hyperinflation on the other hand is when the central bank print new money for the sole purpose of giving it to the government to fund its spending.

Replacement of lower denominations with higher denominations of equal quantities will spell doom for the economy.

This is akin to removing the zero digits in the currency, which will now spiral the already bad situations as much money will be buying fewer goods.

Fifty and one hundred naira will be wiped off

All these your beer parlour economics will and can never work in this delicate economy that has defy all economic principles

grandstar:
What is all this economic illiteracy about?

Introduction of higher denominations has never led hyperinflation in Nigeria.

This is how it work: the central bank would withdraw N100BN of the lower denominations, and replace it with N100Bn of the new higher denominations. The central bank simply replaces higher denomination.

Hyperinflation on the other hand is when the central bank print new money for the sole purpose of giving it to the government to fund its spending.

Do you know that it was the introduction of the N1000 and N500 naira notes that wiped out ten and twenty naira in terms of value and usage

You people just bring out textbook economic theories that is not working

What a shame,so,,Akpabio's name is now synonymous with sexual harassment in Nigeria.what a shameless Senate president.

He should tender his resignation immediately This 10th Senate is the worse ever

If this advice is followed,it will put the final nail on the Nigeria coffin.This is handiwork of enemies of Nigeria.

The only thing holding up this country now is the crude oil export, because no working refinery to refine it.
which is tied to the dollar, despite that,the county's currency is still at an all time low.

Nigeria is an import dependent nation,so all her money is spent on import and less on exports

This results to trade deficit,year in year out, hence the continuous borrowing to run the economy including padding the naira

What members are doing here is a clear reflection of the larger society,we should stop pretending.
.
This is a foundation that has been laid down by the nationalist

If you're not an indigene,you cannot get a job or do business in some parts of the country.

Even the country's constitution promotes it,in form of quota system and the liikes

Most people that their immediate or larger society looks up to,has failed woefully in controlling their emotions.

They lacked emotional intelligence.Wole Soyinka,a Noble Laurette winner in literature could not control his emotions,

He makes weighy comments without thinking of the consequences in the short or long run

The other day Bode George said that if Tinubu should win the election that he will not stay in Nigeria.

Nobel laureate Professor Wole Soyinka has announced that the United States of America has revoked his non-immigrant visa, immediately making his entry into the country impossible.

Professor Soyinka made the disclosure during a media parley themed ‘Unending Saga: Idi Amin in Whiteface!’ held at Kongi’s Harvest Gallery, Freedom Park, Lagos Island.

He noted that the development seemed like being witch-hunted due to his long-standing opposition to the policies of US President Donald Trump.

The renowned author, poet, and playwright confirmed that his B1/B2 visa, a temporary, non-immigrant visa for business or tourism, had been revoked.

“I have no visa; I am banned, obviously, from the United States. And if you want to see me, you know where to find me,” he told journalists.

Visa Revocation Details

Soyinka read the official notification, stating he received the letter last Thursday, October 23, 2025. The letter, issued by the NIV Section of the US Consulate General in Lagos, was dated October 23, 2025.

Part of the letter shown to the press read: “This letter serves as official notification by the United States Consulate General in Lagos that the non-immigrant visa listed below has been revoked pursuant to the authority contained in US Department of State regulations… Additional information became available after the visa below was issued.”

The letter listed the revoked visa details as:
Name of visa holder: SOYINKA, WOLE
Date and place of birth: 13-JUL-1934, NIGERIA
Visa classification (symbol): B1/B2
Date and place of visa issuance: 02-APR-2024, Lagos

Soyinka Visa Revocation Details
The letter, issued by the NIV Section of the US Consulate General in Lagos, was dated October 23, 2025.
Confusion and Stance on the Issue

Soyinka expressed confusion over the reason for the revocation, stating he was unaware of any wrongdoing that could have warranted the ban.

“I’m still looking into my past history… I don’t have any past criminal record or even a felony or misdemeanour to qualify for the revocation. I’ve started looking back — have I ever misbehaved toward the United States of America? Do I have a history? Have I been convicted? Have I gone against the law anywhere?” he queried.

He stressed that there were no hard feelings as a result of the development and that he held no issues with the American people or the nation.

“I will continue to welcome any American to my home if they have anything legitimate to do with me,” Soyinka affirmed, adding that, as a global citizen, he would continue to speak against racism and policies he believed were wrong, including those of Donald Trump.

The Nobel laureate noted that the media parley was necessary so that people in the United States who were expecting him for events would “not waste their time.”

Background: Prior Visa Interview Invitation

The permanent revocation follows an earlier incident on September 10, 2025, where Professor Soyinka publicly refused to honour an invitation by the US Consulate in Nigeria for a visa re-interview, which was scheduled for Thursday, September 11, 2025.

The invitation was part of a recent notice sent by the American Consulate to many Nigerians holding B1/B2 visas, asking them to appear for a “visa interview”.

Reacting to the re-interview invitation in September, Soyinka initially thought the letter was fake and a fraudulent move by scammers.

“I would like to begin by stressing the fact that, for me, this is not a personal issue… I thought it came from scammers who prey on those eager to get visas elsewhere, promising to deliver them for a certain amount…”

“I had never received that kind of letter from that or any other embassy. I even thought that maybe AI had been generating generic letters. It was very strange,” he said at the time.

Upon realising the letter was genuine, he maintained that he had more important things to do than chase visas for places he did not want to go to.

“So the question of going to such an interview is totally out of consideration,” he maintained.

He specifically expressed disapproval of the consulate choosing 9/11 for the proposed interview—a day he considers critical for the United States—suggesting it should be regarded as a day of national mourning, for deep, sober reflection, and not for the “perpetuation of ignoble motives.”

Soyinka also expressed wariness of accepting invitations from a government that has a “white Idi Amin” at the helm of affairs, an apparent reference to President Trump.

It may be recalled that in December 2016, the acclaimed playwright tore his Green Card after Donald Trump’s electoral triumph for his first term in office, following a pledge he had made to do so if Trump won.


© 2025 GUARDIAN Newspapers. ALL RIGHTS RESERVED

Humans need an enabling environment to excel,and that's what they have abroad and Nigeria doesn't.

Enabling environment is what Nigeria and African government needs to put in place in order for her citizens to excel

Hopez456:
How I wish the pipelines are working, there won't be need for this metallic monsters playing the roads.

Pipelines is the best way to transport petroleum products.

The pipelines were shut down alongside the refineries to create room for dangote

daylae:
He should start his own business and compete with dangote

Who can compete with dangote in Nigeria.

The incentives given to dangote cannot be given to any business concerned in the country

Remember how he was given cheap forex to build the refinery

The black race is cursed,it runs in their veins, their DNA .

There's little difference between an animal that lives in the forest and a black man,no wonder other races feels superior and refer to the blacks as black monkey.

Kaczynski:
my style is not here


mine is trying to piss like a woman while laughing in my head

You need to visit the psychiatrist

From dust to dust

Leilalee:
so you're not willing to try out a new brand?

l will,if someone who has used it recommended it.

Armaggedon:
the sub committee will meet after three weeks and it's unlikely any new states will get a nod. It was only an additional state for south East that was debated and approved yesterday.

the video you posted is saying the same thing, you seems not to understand the contents

Exceed15:
Fake news

your problem is ignorance

The bedrock of every phone is the battery life and performance.

That's what buy's my loyalty.

Techno has all that

Dogalmighty17:
This girl and her mother schemed and Ned fell for it. Ned got used

Ned should have known better because the age difference between them is much

So,he left office with government property which he still uses fraudulently.

This man, criminality is still running in his blood.

It's a matter of time,when all his backbones and godfathers has left office,he will then realized that power is transient.

highchief1:
low wetin?he’s not doing better than me that’s if u understand life.i no be ur mate.he knows me one on one we Dey jam for club for Toronto steady,I have houses,cars,certificates,family,businesses.The only thg left for me to do as a man is to die.Theres Nthg men achieve that I have not achieved.None of my age mate is doing better than me sir.na una wey Never arrange Dey reason dem.

online billionaire, you're welcome

You don't even know who you are chatting with,how old are you

press9jatv:
Pastor Tobi Adegboyega steps out to church in a blue Ferrari SF90 Spider, worth $590,000.

Congratulations 🎉

is he the owner of the car or he's being dropped off by a friend.

It's only in Nigeria that pastors live lavishly

highchief1:
first class in law from which school?e go fit gain admission into any Nigerian university to study law?all those their abroad packaged certificates.sheyi has empowered ppl from where?rob Peter to pay Paul?where does he work.i don’t have any personal issue with them.take it to the bank na their papa money dem Dey chop.We know who the strong men are.

what makes you think he can't gain admission into Nigeria university to study law like his peers,was it because he's the son of a governor,does that make his a lesser human.

Your problem is low self esteem

FarahAideed:
APC has really turn Nigeria to something else ...imagine the son Jonathan and the son Uduaghan doing this in 2014 , imagine Lai Mohammed wailing

If children of political leaders befriends,I don't think anything is wrong with it.

Instead it will help uplift the youths

zero8zero:
Loading from where to where?

From Delta state, it's long overdue

Armaggedon:
This is misinformation. They only agreed to form a new subcommittee to consider the rest 55 state creation requests.

The subcommittee has reviewed them and six were approved, although, it's still a proposal .

Anioma state loading.....from the south south

Nigeria is set to have six new states as the National Assembly joint committee on Constitutional Review has approved the proposal for their creation.

The approval was one of the major outcomes of a two-day retreat held in Lagos, jointly chaired by the Deputy Senate President, Senator Barau Jibrin, and the Deputy Speaker of the House of Representatives, Benjamin Kalu.

A unanimous decision was reached by the committee after reviewing 55 separate requests for state creation from across the country.

The lawmakers also considered 69 bills, two boundary adjustment proposals, and 278 requests for new local government areas during the retreat.

According to the joint committee, one new state will be created in each of the six geopolitical zones: North West, North East, North Central, South West, South East, and South South.

If the recommendation sails through all constitutional processes, Nigeria’s number of states will rise from 36 to 42.

Speaking during the session, Senator Barau Jibrin noted that the committee’s decision followed years of consultations, engagements, and public hearings involving citizens, civil society organisations, and other stakeholders.

“We have been in this process for the past two years, engaging our constituents, critical stakeholders, institutions, civil society organisations and interest groups in town hall meetings, interactive sessions and public hearings, harvesting and synthesising views and perspectives which has ultimately culminated in what we have here today – 69 bills, 55 state creation requests, two boundary adjustments and 278 local government creation requests,” he said.

However, the proposal is expected to be forwarded to the full chambers of the National Assembly for deliberation and possible constitutional amendment.

If approved, the geopolitical balance across the country would be altered, giving each region at least six states.


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Bestmanfornow:
Doing more without borrowing

Verify before saying anything.all the states in Nigeria are debtors

Christistruth00:
Yahoo boys are not Geniuses

They are thieves

They are evil genuines

The operation may probably have been carried out by an inexperienced doctor,it's uncommon for fabroid operation to lead to death.

All these fake and unregulated medical centers in Nigeria with quack doctors