₦airaland Forum

You guys destroying people property in lagos and sending others back to their state have fanally find a voice for one Nigeria. Ask yourself is there a unity among Nigerians? It was only a Britain experiment that have failed and keep falling over and over the years.

truthera:
How does this help Nigeria, so you want US to forcefully setup military in another sovereign country? Are you not ashamed?

to many Nigeria have not gotten any independent yet. The colonial only change hand to another wicked set of people who lounder and destroy the economy. Go to the street Nigerians are in support of the invasion. The the House is divided and crashed what do you expect. Let everyone go there separate ways

Like it or not America is planting military base in Nigeria thus time

India inflation rate from 1947

Mow compare that to Nigeria inflation

press9jatv:
Christians are the most hit and that's where America forces will start the attacks on. Everything has been mapped out. Trump talking isn't talking for entertainment, much forces are involved too.

europe and the uk are involved. Nigeria need a reset because people are tired already

What mineral resources does Nigeria possess compared to other countries? Apart from crude oil what there is again?

Nigeria is overdue for divides. The southern Nigerian is marginalized. The middle belt is only part of the north for politics.

DeepSight:
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:
Understandable but perhaps you both don't also understand that in a largely informal economy (well, the street economy, let me say) prices of commodities in the regular markets tend to coalesce around available denominations.

Redenomination will be better.

you are still saying the same thing. Inflation is normal thing for every economy. There is no economy or currency on earth that doesn’t suffer inflation.


Higher denomination or redenomination are the sanctions thing in economics.

You remove some zero to existing notes and issues a new higher denomination. If buy your claim the market will still request the highest denomination.

Nigeria is not working and needs to be look into or desolved

Nigeria needs it.

Don’t buy those car they are lemon. During the fuel subsidy removal. All these car flooded the market and on the road. But today they have all disappeared. Any car you no longer see like that on the road. Just avoid them. It happens for a reason .

If you can’t afford fuel. It means you are not yet ready to own a car

India inflation rate from 1947 (compare it to Nigeria inflation )

Even people from Europe are denied entry. Not to talk of Africa.

Western parents are disconnected with their children.

Thats why I advise people to plan for their selves rather than depending on children. People have problems to face in their life. This doesn’t mean the man children are poor and suffering. For the age dad to do that it means the children are doing fine.

The person thats closer to him when he is old. Means the cleaner was doing a good job. Otherwise he wouldn’t have done that

inyass2580:
Na musicians dis one go pay most

10k bundle in 100 places na big money

And for a common man to get hold of dt 10k in 3 pieces dts 30k wil come with lot of stress and all sort of dirty and nard job…. 1000 will now be 50 for buscuit.. so imagine buyin a biscuit for 500 because as 5000 or 10000 dn dy
100, 200 will be useless

Jst 500 , 1000 will still be in circulation…. Dis is a wrong move because Nigeria is indeed a Zoo

where you wan see the bundle. There is already limit of cash that can be withdrawn per day

yemmit90:
What do you know about economic? Perhaps absolutely nothing.

It will totally eroded the value of money. Every manufacturer will be targeting the price of their good in a ratio to higher denomination. Spending habit will change, and servive charge will surge. 1k will look like 100 naira in value, people will see it as a waste of space in their wallets, and you cant easily convince people with it but high denomination.

what do you know? 1000 naira is not the cause of inflation in Nigeria. Ibb and abacha kill Nigeria economy with massive inflation. When obj came he address that with 100, 200, 500 and 1000.

b5ive:
Do you know how much naira jas been devalueld since Obj's regimei?

Do you know the implications of having higher denominations in circulation within a weak economy like Nigeria?

Have you try drawing references from the experiences from other nations who adopted such an economic suicide?

Looting amongst our ruling class will become a bragging right cos billions can be looted within a few notes of the new denominations (10k, 20k)

The naira will eventually be so useless that you would need a truck or wheelbarrow to carry ypur money just to buy few items in the market.


Be careful what you wish for.........

bank already have a cap on the naira note that can be withdrawn. From babk or pos. So Where would they get the note to loot? If they are already looting the naira as it is now.. what difference would that make?

Kayberg:
Just asking, what economic policy is behind having the power to devalue the currency, but must require some 'thing' to strengthen it again?

if you have 30 billion in circulation the highest denomination is 1000 notes. You can’t even use withdraw half of the notes and destroyed it. Then introduce higher denomination of half the currency 15bllion. You now have fewer note in circulation with more value.

What causes inflation is having excess money. And Not higher denomination. You can’t even use hardly buy anything useful with 1k notes and destroyed as of today.

Kayberg:
Experts in the house… what's your take on this?
Because this will be a total Inflation. The same happened with Zimbabwe, that their currency has become almost useless that they now request only the US Dollars for transactions.

it’s not what caused the inflation. The face inflation for western sanctions the sanctions with Venezuela. Ghana face inflation too and they add 10k notes. Inflation is why they print higher denomination because it pointless to print valueless currency like we are doing today

It’s long overdue. I would suggest 5000 and 10000 for a start. After a years or 2 we can add 20000.

More of 5k then fewer 10k. and make 20k very scares to see.

When obj introduce 1000 the value today would be like 30-40k. People shouted then. Because it almost amounts to 10$ at the time. Considering dollars also devalued too.

If you give anyone 1k then they will look it in the sun or through touch light just to tell you of it value as at then. But not anymore today.

The only alternative is to redenominate the naira by removing 2 zero or bring higher denomination. If you withdrew 100k in the market. You can’t even use it to buy anything tangible which shouldn’t be.

In fact it should have been done last year.

Higher denomination doesn’t translate to more money in circulation. It only means money in circulation is compressed and scares to see around.

In response to people saying it will cause inflation like zimbabwe
it’s not what caused the inflation there. They face inflation by western sanctions. Same sanctions with Venezuela. Ghana face inflation too and they add 10k notes then. Inflation is why they print higher denomination because it pointless to print valueless currency like we are doing today. They print higher denomination to counter the inflation. Not the higher denomination that cause the inflation. If 20 billion is in circulation and you mob it up with higher denomination with the same 20billion it won’t cause inflation. Alternative is to remove some zero from the currency.

Obj add the option to remove some zero but the senate rejected it. So they introduced higher denomination.

All the testing here and there is just panic mode and trying to deter other and scare them.

If you are not panicking you wont be testing weapons and announcing it when war is coming

The world need to redefine who can be a citizen. Country like Saudi, Iran, india, China, Egypt, libya. Uae, Pakistan and Qatar.

You can never be their citizen by marriage, birth or asylum.

If they have removed subsidies than whats wrong with that? Is the fuel still subsidized?

He is not alone. Alot more will be added to the ban. All those supporting tinubu and their asset will be frozen as well.

It’s very clear Nigeria marrage has enlapse. If Nigeria bot end in 2027 i eill stop posting for nairaland.

The Western plot right now is to divide Nigeria. Nigeria expired in 2015.

The United States replaced the British from debts caused by world war. Economically the US detests the future having all the golds Europe sold to them caused by wars. They proposed the dollar as world currency back by those Golds which no one can challenged at the time.

Right now America is in similar problem. From 17trillon debt before COVID 19. To 42 trillion they can never repay.

1 trillion debt service this year alone is another problem. Us will failed to service it 1 trillion debt which would cause inflation in the coming year.

Right now only the Chinese economy fits the next world power. Chinese central bank have been buying Gold lately and dumping us bonds. The world will ditched the US dollars when inflation comes hitting hard. And those dollars will close their way back to America. There have been calculations from experts who believe American will change their currency to new physical dollars and focus more on digital dollars.

How would Africa survive the economy especially Nigeria and others that depends on borrowing ??

If you have people overseas they will tell you the way things are going.

Tax and too much government regulation is what kills industry in America and Europe. Tax and over inflected markets.

They produce alot of billionaires with over inflation figures. Trump is so clueless on how to handle the situation. He still think America is super country that call bully other countries with tariff and deporting of people allover the world.

People are not ready to go to America anymore, not ready to put their money their, not wanting to invest there.

This will cause more devaluation and more borrowing. It over with the dollars. Experts have predicted that us dollars will never raise again. It’s over and trumps scrolled everything.

Venezuela is not rich in dollars but their economy can contain all the needs. Their currency devalued due to western sections.

The fuel pump price is the cheapest in the world.

Fuel prices in Venezuela are extremely low, with official subsidized prices around $0.01 USD.

If they removed their president they will regret it for a very long time.

She tried hardly to find someone like her in this generation or nowadays

Lanretoye:
Why did they write First Lady of the federal republic of Nigeria on the headstone instead of former.
Somehow somehow na badbelle kill the woman that year,she went to treat badbelle in Germany then

at rhe time she was buried. That’s how it was written

This is the era of frezzing Nigeria accounts and asset overseas. Bring yoir assest to Nigeria before it becomes too lates. Western nations are facing terrible economy and looking for where to dump their debts

Russia intelligent warns that US is trying to dump their debts on crypto and then crashes the market. Wiping out assets worldwide. When the west cant compete and cornered economically the only card left will be conventional war just what hitler did.

Bring your assets to Africa

That closed shot destroyed the rim.