Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,165,389 members, 7,861,077 topics. Date: Friday, 14 June 2024 at 11:16 PM

Chinedukenneth9's Posts

Nairaland Forum / Chinedukenneth9's Profile / Chinedukenneth9's Posts

(1) (2) (of 2 pages)

Politics / Unfiltered Views: Market Women And The New Naira Note by chinedukenneth9: 10:23am On Feb 12, 2023

https://www.youtube.com/watch?v=ymfBHuHLl3c

Have you seen the new Naira note yet? It has caused quite a stir in the markets—and for good reason. On one side of the coin, it is a visual marvel that speaks to the progress of our nation's economy, but on the other, it has caused a lot of confusion and frustration among market women.

We're here to give you an unfiltered view of what these market women are saying. Here at XYZ, we love to invite people to take part in conversations they may not have had access to before. That is why today we've conducted interviews with market women all across Nigeria to hear their perspectives on this new Naira note and how it could affect their businesses. Join us as we explore this issue from a different angle!

Introduction to the New Naira Note

We had heard about the new Naira Note in passing, but we didn't really understand the magnitude of the changes until we received it in our hands. It felt strange, foreign. Unfamiliar. We could feel our palms trying to adjust to its unforgiving rectangular shape as we tried to place it in our pockets.

The introduction of the new Naira Note marks a major change for us as market women who, like many others in Nigeria, rely on cash transactions to make a living. This is why the launch of the note came as such a surprise—even though its intentions are good (reducing counterfeiting and increasing security), there has been a lot of backlash due to fears that it will make life hard for us because we'll have to adjust accordingly.

But above all else, we're resilient—we're used to adapting our traditions and practices in light of changes like this —and that's why this article is here: an unfiltered look into how some of us feel about the new Naira Note and how it's likely to impact our lives.

What Market Women Had to Say

We all know what it's like when a new product hits the market. But for Nigerians—especially market women—the introduction of the new Naira note is more than just an economic shift. It's an adjustment to the very way that commerce is conducted in the heart of West Africa.

So what did these women have to say about the change? We went straight to the source and asked them for their unfiltered views.

Overall, they seemed to be feeling slightly overwhelmed by the update, but excited as well. "The transition will be hard," said one woman, "but it's one that I'm looking forward to making." Others shared similar sentiments, hoping that more modern forms of payment will make it easier for them to keep records and stay competitive in a crowded economy.

From reservations though came excitement too. Not only would many of the women benefit from improved convenience and digital records, they also saw potential in a more secure currency. As one woman put it: “This is massive! I'd be able to safely carry much more money with me as I travel for business."

Impact of the Change on Market Vendors

As market women, the new Naira notes had a direct impact on us. Before the Naira changed, it was easy to sort through any amount of money, whether it was large or small. Now, we have to figure out how to separate the new notes from each other and verify that each note is valid and authentic. We don’t have any machines to help us with this process, so it takes us longer to handle each transaction.

We also do a lot of business with people in rural areas who aren’t familiar with the new notes. They’re used to using the old notes and are perplexed by the new ones. Not only that, but lots of people think that the old notes are being phased out for good so they don’t bother trying to use them anymore. Unfortunately, this often leaves us having to explain to customers why they need both kinds of money when making their purchases.

Accessibility

The process of sorting through money has become more cumbersome for customers as well as vendors. The elderly or those with sight impairments find it difficult to tell the differences between certain denominations of cash which can lead them being shortchanged unknowingly in transactions. We try our best to help out those who need extra assistance but even then it can be hard for us too sometimes!

Worries on Price Manipulation

We had never seen a reaction like it: the moment the new Naira notes were brought into circulation, the market women started making heated exchanges. Some argued that while it looked nice, the new currency would be a source of price manipulation.

The new Naira seemed to validate their fears—the note was sturdier, which made it easier to pass around and harder to manipulate. As one of the traders said, “with solid notes like this, traders will find ways to increase prices as they please and decrease when they want.”

Their concerns didn't end there: they also worried that vendors would start cheating them by giving them smaller change because they couldn't easily determine the value of a note with a quick feel or glance due to its uniformity. Aside from worrying about being shortchanged, some feared that this could lead to bigger discrepancies in the economy if people started making their own rules about exchange operations.

No matter how much we tried to assure them that this wouldn’t be an issue, none of our efforts soothed the apprehensive faces in front of us; it seems change is still hard for some people to swallow.

Success Stories of Transacting With the New Naira Note

Since the new Naira Note was introduced, some market women have been more successful than others at transacting with it. Our investigation led us to a few success stories of market women who have been able to make money--buying and selling goods--in spite of the new currency.

Chikodi A., egg seller

Chikodi A., an egg seller in Obalende Market, Lagos, has found success using the new Naira Note. "I am finally able to keep accurate accounts and records of my business transactions" she said. She noted that her business had picked up since she adapted to the new currency, as customers can easily pay for purchases and make change when necessary.

Bola O., cloth seller

Bola O., a fabric seller, has also been able to increase her profits since she adopted the use of the new Naira Note. Bola explained that customers comment on how easy it is to carry around lots of change due to the small size of notes and coins; this had enticed them into buying more items instead of dismissing her offer due to lack of change.

Ada C., food vendor

Ada C., a food vendor in Onitsha Market, Anambra State, has found success with the help of the new Naira Note as well. She said that not only does she make more sales due to customers being able to pay for goods easily with exact change but she's also recognizing profits faster than before because she is no longer waiting for long hours for larger denominations which customers needed for exact payments.

Challenges Experienced With the New Naira Note

We also spoke to a few market women about the challenges they’ve experienced with the new Naira note. As much as we heard a lot of positive things, it was clear that the new currency wasn’t without its drawbacks.

Lack of Change

The biggest challenge we heard from them was lack of smaller denominations to make change for customers—which can be tricky for market women who often rely on daily calculation of what’s owed and paid. A lot of them mentioned that they only got used to the old notes when they had to suddenly learn and adjust to the new ones.

Aging Population

Market women also pointed out that currency change can often be more confusing or challenging for elderly citizens, who are already facing difficulty in adapting to life in the digital age. The fear is that this might depress their buying power and significantly affect their livelihoods even further.

Fraudulent Notes

The other issue that came up is counterfeit notes, which has been a bit of an issue with the introduction of any new currency. Market women have long dealt with fraudulent note scenarios—so with this new Naira note, it’s essential for vendors to take extra precautions in order to protect their own interests in the long run.

Conclusion

In conclusion, the economic impact of the new Naira note is still uncertain and market women are concerned about the implications it may have on their businesses. This is understandable, considering the economic downturn Nigeria has faced in the past year. For now, the only way to truly assess the effect of the new currency is to wait and see how it plays out in the market.

Despite the current uncertainty, market women remain resilient in the face of this change. They know just how powerful the markets are in their communities, and they understand the importance of adapting to the new currency. As one market woman said, “We are the ones that know how to adjust and make do with what we have”.
Family / Re: Nigerian Woman Born 1897 Marks 125th Birthday, Video Shows Her Greatgrand Kids by chinedukenneth9: 3:16pm On Dec 28, 2022
Jesus.
very strong and look like 70.....I claim it my mother will live long like her mother and you grandma

5 Likes 3 Shares

Crime / Re: Yahoo Boys Hire Soldier To Accost Alfa Who Bought Benz Who Gave Them Fake Charm by chinedukenneth9: 10:28am On Dec 28, 2022
The way this yahoo business is becoming a normal in our country, soon nobody will want to hustle legit again.
Romance / Man Breaks Piggybank, Packs Money He's Been Saving To Buy Xmas Gifts For GF by chinedukenneth9: 3:24pm On Dec 26, 2022

https://www.youtube.com/watch?v=dzEPB9Gf8xs

A young Nigerian man, @anieprobeauty, has gone online to show people how much he loves his girlfriend and everybody has been praising him.

In a very short video, he brought out his piggybank and broke it to access all the money he has been saving in 2022.

After getting the money out, he arranged them to get his girlfriend some very beautiful Christmas gifts.

He bought her things like a wig, chocolate and jewelry. The lady was overwhelmed with joy.

https://www.legit.ng/people/1511355-man-breaks-piggybank-packs-s-saving-buy-christmas-gifts-girlfriend/

1 Like 2 Shares

Crime / Re: Pastor Delivered From Ritual Kidnappers, Says God Of Solution Ground Saved Him by chinedukenneth9: 8:11am On Dec 10, 2022
Celebrities / Re: Davido Arrives Qatar With Customized Blanket Of Ifeanyi’s Face Printed On It. by chinedukenneth9: 8:10am On Dec 10, 2022
Sports / Re: Tite steps down As Brazil Coach after World Cup Exit by chinedukenneth9: 11:37pm On Dec 09, 2022

https://www.youtube.com/watch?v=g1sng-RU-fE

Super Eagles striker Victor Osimhen visits former club Charleroi
Business / Re: Naira Value Drops For 3days In A Row, Now 15th Worst-performing Currency by chinedukenneth9: 10:22am On Dec 09, 2022
How e take concern the Nigerians now??..Dem like sapa pas flexing abi..
Business / Re: New Naira Notes: Nigerian Man Causes A Stir After Taking $500k Cash To Bank by chinedukenneth9: 10:21am On Dec 09, 2022
In Nigeria, laws are made for the middle or low class citizens.
Business / Re: Naira Value Drops For 3days In A Row, Now 15th Worst-performing Currency by chinedukenneth9: 10:20am On Dec 09, 2022
We deserve our leaders who formulate and implement laws for the middle and low class citizens

Y'all calling out a citizen why not the leaders who seems to be above the laws.
Family / Re: "New Trick": Mother Buys Microphone For Her Baby To Use For Crying by chinedukenneth9: 9:38pm On Dec 08, 2022
Nor be only the mother go dey hear the cry
Atleast neighbor too go partake for the noise

3 Likes 3 Shares

Foreign Affairs / Re: Big History Made As 18-yr-old Jaylen Smith Becomes Youngest Black Mayor In US by chinedukenneth9: 12:27am On Dec 08, 2022
The country who knows that the youths are the leaders of tomorrow not in nigeria where our grandfather's don't want their children to grow up

1 Like 2 Shares

Foreign Affairs / Tanzania Cancels Independence Day Celebration, To Use $445k Budget For School by chinedukenneth9: 1:18pm On Dec 07, 2022

https://www.youtube.com/watch?v=7-ogL8SmPAI

Tanzania’s President Samia Hassan has cancelled the country’s Independence Day celebration.

The Independence Day celebration was scheduled to hold on Friday.

Hassan, the country’s first female president, directed that the event’s budget of $445,000 be used to build eight dormitories for children with special needs in primary schools around the country.

She said the unnecessary extravagance of the celebrations informed her decision to use the allocated budget to handle a more urgent project.

In a statement on Monday, George Simbachawene, the country’s minister of state, said the money had already been disbursed.

“The debates and conferences will be preceded by various schedules for regional and district leaders to carry out social activities in different areas including cleaning hospitals, schools, elderly homes and groups with special needs,” he added.

https://www.thecable.ng/tanzania-cancels-independence-day-celebration-to-use-445k-budget-for-school-dormitories/amp

6 Likes 4 Shares

Politics / Re: Tinubu's BBC Interview: 'I Was The Most Investigated Governor, Nothing Was Found by chinedukenneth9: 12:01pm On Dec 07, 2022

https://www.youtube.com/watch?v=o26eoo_jz9A

Insecurity In Nigeria Has Reduced Under Buhari -Tinubu

The presidential candidate of the All Progressives Congress, Bola Tinubu, has said that the President, Major General Muhammadu Buhari (retd.), has reduced the insecurity challenge he met on the ground in 2015.



https://www.youtube.com/watch?v=3he3HG7CZiU
Politics / Re: Catholic Women In Nsukka Back Ugwuanyi For Senate, Drum Support For PDP by chinedukenneth9: 12:00pm On Dec 07, 2022

https://www.youtube.com/watch?v=o26eoo_jz9A

Insecurity In Nigeria Has Reduced Under Buhari -Tinubu

The presidential candidate of the All Progressives Congress, Bola Tinubu, has said that the President, Major General Muhammadu Buhari (retd.), has reduced the insecurity challenge he met on the ground in 2015.



https://www.youtube.com/watch?v=3he3HG7CZiU
Politics / Re: Our Election Will Be Free, Fair, Credible – President Buhari To West African.. by chinedukenneth9: 12:00pm On Dec 07, 2022

https://www.youtube.com/watch?v=o26eoo_jz9A

Insecurity In Nigeria Has Reduced Under Buhari -Tinubu

The presidential candidate of the All Progressives Congress, Bola Tinubu, has said that the President, Major General Muhammadu Buhari (retd.), has reduced the insecurity challenge he met on the ground in 2015.



https://www.youtube.com/watch?v=3he3HG7CZiU
Politics / Re: Insecurity In Nigeria Has Reduced Under Buhari - Bola Tinubu by chinedukenneth9: 11:58am On Dec 07, 2022
But you run to the West to address your internal issues, Buhari always run to the West for his Medical tourism. When you are a failure you will find way to blame you working implements.
Politics / Re: West Uncomfortable With Buhari, Tinubu Says About Insecurity In Nigeria by chinedukenneth9: 11:56am On Dec 07, 2022
A new Ñigeria is coming free of Corruption, insecurity and misery. Let's try Peter Obi or Kwonkwosor and allow the oppressors in the person of Tinubu and Atiku to go.
Science/Technology / Re: "It Is So Real": Meet 'omeife' Africa's First Human-like Robot Built In Nigeria by chinedukenneth9: 5:31pm On Dec 03, 2022
Nice
Sports / Ghana Coach Otto Addo Resigns After World Cup Exit by chinedukenneth9: 2:44pm On Dec 03, 2022
Mr Otto Addo has resigned as Ghana's coach following the Black Stars' exit from the 2022 FIFA World Cup in Qatar.

The 47-year-old who took charge of the team in April is leaving after eight months as head coach of the Black Stars.

Addo was first named interim manager before Ghana's World Cup playoff against Nigeria, supervising the team to make a comeback on the global stage.

The former Ghana international announced his resignation in a press conference after the match.

“I said before, it was clear I would stop after the World Cup. At the moment, me and my family see our future in Germany, I like my role at Dortmund,” the gaffer said.

Addo works as “talent coach” at the Bundesliga club, where he previously played.

“I said I would resign after the World Cup even if we were world champions,” he added.

Addo’s departure means Ghana must make a quick move to get a new coach in place before they continue their Africa Cup of Nations qualifying campaign in March.


https://www.youtube.com/watch?v=k4BWdgWmDxM

6 Likes 5 Shares

Science/Technology / Re: "It Is So Real": Meet 'omeife' Africa's First Human-like Robot Built In Nigeria by chinedukenneth9: 1:45pm On Dec 03, 2022
One day igbos will build nuclear weapons and you knows what gana happen

3 Likes 2 Shares

Sports / Stats Reveal Argentina Direly Need Messi While Portugal Are Fine Without Ronaldo by chinedukenneth9: 7:52am On Dec 03, 2022
Portugal can thrive without the services of Cristiano Ronaldo, according to interesting stats.

But for Argentina, they always seem to click only when Messi is in top gear.

As far as winning the World Cup, Portugal stand a better chance simply because they can score goals without their talisman Ronaldo.


https://www.youtube.com/watch?v=l-FARvRqSUs

https://sportsbrief.com/football/29404-world-cup-interesting-stats-show-portugal-cristiano-ronaldo/

4 Likes 4 Shares

Sports / Re: Morocco Vs Spain: FIFA World Cup Qatar 2022: (3 - 0) On Penalties by chinedukenneth9: 10:17am On Dec 02, 2022

https://www.youtube.com/watch?v=k4BWdgWmDxM

English Premier League side Southampton have thrown their support for Mohammed Salisu and his Black Stars teammates ahead of the game against Uruguay.

Ghana renew their rivalry with Uruguay twelve years after their dramatic clash in South Africa
Sports / Re: Cameroun Vs Brazil FIFA World Cup Qatar 2022: (1 - 0) On 2nd Dec 2022 by chinedukenneth9: 10:17am On Dec 02, 2022

https://www.youtube.com/watch?v=k4BWdgWmDxM

English Premier League side Southampton have thrown their support for Mohammed Salisu and his Black Stars teammates ahead of the game against Uruguay.

Ghana renew their rivalry with Uruguay twelve years after their dramatic clash in South Africa
Sports / Re: "I'm Part Of The Revenge": Ghana Defender Mohammed Salisu Ahead Of Uruguay Clash by chinedukenneth9: 10:16am On Dec 02, 2022
Ghana should forget about revenge , there should play what is call good football and the gods of soccer will scale them through
Sports / Re: Photos Of Kudus' Splendid Mural In Ghana Emerges, Fans Admire Beautiful Artwork by chinedukenneth9: 2:14am On Dec 02, 2022
Argentina and Messi will still win the world cup

1 Like 1 Share

Celebrities / Re: Prophet Tells Members To Contribute N130k Each So He Can Buy A New Car by chinedukenneth9: 10:15pm On Dec 01, 2022
Oga pastor go and sleep.look at the kind of car you are driving and you are saying is old may GOD HELP US.

1 Like 2 Shares

Religion / Re: Prophet Tells Members To Contribute N130k Each So He Can Buy A New Car by chinedukenneth9: 10:14pm On Dec 01, 2022
Anyway this one is vry sincere to his followers. He told them the truth. Not like others that will lie, in other to extort.

2 Likes 2 Shares

Family / Re: Prophet Tells Members To Contribute N130k Each So He Can Buy A New Car by chinedukenneth9: 10:14pm On Dec 01, 2022
How many of his followers have such cars??How many?? May God have mercy on you people!!

(1) (2) (of 2 pages)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 44
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.