₦airaland Forum

Frank-C:
I have my issues with Sanusi but if someone is nominated for a job and screened by our Senate and found worthy of such office, we should be gracious enough to let them DO THE JOB. The law has empowered this guy, by virtue of his office to take decisions that will advance the country economically and what he is doing is within the limit of his powers, so lets not do his job for him...let him do the job we put him there to do!!! This place is not a jungle.

Yeah! You have a point there. And I was about saying the same thing.

Let me just add that later in life, posterity will judge him.

Quiet frankly, I don't have issues with the N5000 thing but the redinomination of some currencies to coins. That's where I see some infractions. We all have the experience with N1 and K50. That's my fear.

PhysicsQED: Are you serious? I'm probably younger than you.

"Only 51" in that context doesn't mean 51 is actually young. It means 51 is too young for him to have such a wrinkly forehead. Sanusi is more than twice my age but the lines on his forehead are more like what you'd see on a man four times my age.

Them this idiots don change the topic

Kobojunkie: How did you deduce this one? Where do you people come from for pete's sake?

She decides to skip his funeral means she has not forgiven him? What the frell does that even mean? [b]So, suddenly there exists a rule that when a person dies, you MUST attend? [/b]Pray tell, where is this rule written?

Come, you dey craze? Them say person husband die ... you dey talk nonesense. Why would a widow skip her husband's funeral. Na so you talk say she been deen dey busy, and that's why she didn't come. Dem swell for that you mouth?

edlion57: why nt white house

abi 3rd mainland bridge or carter bridge. even river niger bridge is there. that one is closer to his ancestors

kasheemawo: front page pls...............OP this ppl even lied on radio Nigeria broadcast this morning that hundreds of nigerian graduates secured job yesterday on which NO single person got job.world bank supported the program wit billions.

How will it make front page, when it does not involve GEJ, P-Square, Tuface, Omotola.

s3nn2x: Although, I did not participate in the programme but a friend of mine who came from Abuja to attend the programme stays in my house at the moment. Since he did nt knw the way, I tagged along to see what was happening. A programme that was slated for 8 a.m that was for 12th of September, did not begi before 12 and there was not one person to address us. I had my misgivings from the onset, but how do I tell someone who spend huge sum of money just to attend the programme. Altough, few employers attended the thursday's programme, it seems like the friday's own was a little better, at least the guy brought back some magazines, but to say the truth most of the companies in attendance were IT companies, he even said that Afrihub promised to fix some of them in different locations where the company operates. Who am I to complain when it seems like the person who attended the programme considers it fulfilling.

I didn't even border attending that because as far as I'm concerned, why make it open to everyone, even to those that never partook in the whole exercise?

mannet: After the whole training and exams for ten weeks,result was out and we never heard anything reasonable from them,since then i started having a second thought about those guyz; world bank made a mistake to have used this guyz in conducting this training and organizing this whole program from start,i saw a big Bleep up ahead since they hijacked the program from the Indian guyz(Aeon Hewitt),nothing ever does well in the hand of a Nigerian company especially when it comes to doing things in a proper way.I'm happy i didn't risk my life and waste my resources coming to Lagos,cos my friends were there to tell me the whole thing going on.It is a big shame.

yes, I noticed that I didn't see the white people again. I think that's where things started falling apart.

it was a real nonesense.

Obinoscopy: I think the effort was worth it, my opinion though.

My dear you were trained for 10 weeks! I presume you didn't pay a dime for such training. Put what you learnt to good use. You'll get a job soon.

Wish you the best. Regards

.

Thank you for the advice. But as for the training part, that tells a lot about something missing.

Now, let me tell you what we were trained on; basically, it was about time management, spoken english and microsoft office. that was it.

does that tell you something mam/sir? it means this people don't believe in the four/five years I spent in the university.

it means they don't believe that i have learnt anything in the university so had to put me through all this test and so called 'training'.

If we had been trained on enterpreneural skill and the likes, one would have even appreciate it the more. but we gave our all, not minding the insult, just becuase of the desperation to get a job, because after all, that's what we were promised.

lagerwhenindoubt: How this Dog has been eating no one cares to ask..

Can't you read from the story that the cemetery attendants and the owner's family feeds the dog

na2day!:
Obama's support for Arab's spring is coming home to roost!
You cant force democracy on these people, they need a strongman with a strong stick to keep them in line!
Ghaddafi, Mubarak et al are gone!
The Islamic fundamentalists have taken over!
America! welcome to Arab's winter

this comment had the largest 'like' I have ever seen on NL. I haded my 'like' before commenting.

The commentator seem to be making sense in some ways. Only that I don't know is intention.

All this filming, fighting, killing and the likes that we are seeing here and there are not spontaneous. They are well thought out plan ... the producers of the film knew where this is going to take us to at the end. As a matter of fact, the film was not actually made to insult the Prophet or Islam and the Muslims like I kept on saying, it was actually meant and planned to cause all these disruption and killings we are witnessing so that some certain goals, objectives and gains can be made.

Someone once asked me if that includes the killing of the American Ambassadors and the destruction of their business overseas? And my answer is 'YES'!

Yes! And this is the reason: America will sacrifice anything and anybody to gaurantee his future; they can afford to destroy the WTC and blame it on Osama, Sadam and whoever just to get their fingers on the oil in the middle east. Don't under estimate Uncle Sam when it comes to 'sustainability' of its future generations.

Unlike Nigeria that is busy fighting a previous war.

In other words, this is more economical and political than religious.

payan: ICAN STATEMENT ON THE INTRODUCTION OF THE PROPOSED
N5000 CURRENCY NOTE BY CENTRAL BANK OF NIGERIA

PREAMBLE

The attention of the Institute has been drawn to the August 23, 2012 Press Statement by the
Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi in which he
apprised the nation of the apex bank's plan to restructure the existing profile and redesign the
Nigerian currency for the sum of N40billion. Given the spontaneous reactions of stakeholders,
the Institute is constrained to make the following observations and recommendations.
1. We commend the initiative to redesign the security features of the nation’s currencies with a
view to reducing the huge annual royalties paid to foreign interests and also make the
currencies extra secure. Such measure in our view will reduce currency counterfeiting and
enhance the confidence of Nigerians in this medium of exchange.

2. There is nothing fundamentally wrong with the idea to introduce the N5,000 as there are
some benefits to be derived. Beside having the potential to reduce royalty payments on
existing security features as well as the cost of printing and maintenance of the currencies,
the initiative will enhance the profitability of the CBN and its ability to generate funds for the
government. It is common knowledge that the CBN orders, prints, mints, handles and sells
currencies to money deposit banks with which they carry out their intermediation functions.
The margin between cost of printing and selling of currencies is one of the CBN’s sources of
fund. Although the cost of printing each denomination is the same, higher denominations are
sold to banks at a premium and therefore, earn more for the CBN. Section 5(3) of the CBN
Act 2007 requires that at year end, 75% of its net surplus must be paid to the Federal
Government. Here lies an incentive to earn more money. In addition to this, the cost of cash
management by banks will further reduce with positive impact on wealth creation.

3. In spite of the above benefits, we are not persuaded that the N5,000 denomination should be
introduced. At a time when the size of government deficit is about 2.8% of GDP (although
within acceptable limit), the intention to spend N40billion for this exercise appears to be both
a waste of scarce public resource and misplacement of priority. Set against the benefits, the
proposed expenditure of N40billion will add little or no value to wealth creation. The
subsisting budget deficit, financed largely with domestic borrowing at an unsustainable rate,
and therefore crowding out available credits to the economy, can further be reduced by this
huge expenditure of N40billion, if redirected to the funding of infrastructural development.

4. In our view, the introduction of N5000 note will eventually alter the pricing structure of
products in the market leading ultimately to the permanent disappearance of the 5, 10, 20 &
50 Naira notes (and even the proposed new coins) from circulation. The extinction of these
smaller denominations will negatively impact the buying capacity and habits of low-income
earners and the poor as goods and services will be priced above their levels. Sustained
increases in prices may the unintended consequence.

5. Also, we strongly advocate that the CBN should work towards strengthening the purchasing
power of the Naira through policy consistency. The steady slide in the value of the Naira in
relation to other currencies like the USA dollar, British pound sterling, etc, as an importdependent
country should be a major source for concern. As an import-dependent nation,
when Nigeria converted to Naira and Kobo in 1973, the exchange rate was GBP£1=N2.00
and USA$0.30=N1.00. Today, the exchange rate is now GBP£1=246.31, USA$1=N157.50.
From the literature and empirical experience, devaluation benefits export-oriented
economies. As a mono-product and import-dependent economy, we are most unlikely to
benefit from the resultant devaluation that this initiative may unwittingly cause. Since the
Naira is not convertible, increasing the denomination will not check the perceived trend
towards dollarization.

6. The CBN’s repeated change in its monetary policy rate is an indication of severity of
inflation which it has been targeting for some time. If unemployment was lower, it would not
have been a cause for worry given the established inverse relation between unemployment
and inflation. To print more currency as envisaged without earning foreign revenue to
support its value will put more inflationary pressure on the Naira and lead to a diminution in
its value. Indeed, one of the indices of a growing inflation, from economic history, is the
creation of higher denominations as exemplified by Argentina, Peru, Poland, Russia,
Democratic Republic of Congo, Angola, Zimbabwe, etc.

7. The aforementioned press statement of the Governor did not indicate whether the
introduction of the N5,000 notes will involve the printing of more currency notes to
complement the existing quantity of money in circulation or it intends to substitute some
smaller denominations with the proposed new note. It merely said that some currencies will
be converted to coins. Whatever, the intention, we shudder to think that the CBN plans to
increase the quantity (volume) of money in circulation by introducing N5000 notes when the
possible inflationary impact of this is common knowledge! Or does the CBN want to
substitute higher denomination for smaller, more convenient, ones when Nigerians are
yearning for enhanced value of the Naira that will lead to the return of Kobo coins? Who is
the beneficiary of a denomination that will stall transactions in rural Nigeria inhabited by
70% of the populace? Only the convenience of the elite and urban dweller will be assuaged.
Following the CBN statistics that 90% of Nigerians’ cash transaction is less than
N150,000.00, why substitute their preference for higher denomination? Is it not obvious that
small transactions will be made more difficult if a proportion of each smaller denomination is
eliminated?

8. We are persuaded that the initiative will impair the modest gains recorded with the Anti-
Money Laundering Act and the pilot cashless policy in Lagos which the Institute expects to
spread to the entire country by first quarter of 2013. The convenience of carriage of N5,000
notes will indeed, be an incentive, not disincentive, to carry cash. Such an incentive will
defeat the acclaimed drive towards a cashless economy. If the international community
perceives that we are lax in anti-money laundering agenda which higher denomination and
convenience of carriage connote, we stand the risk of being the target of FATF initiatives
including blacklisting with its attendant problems for the attraction of Foreign Direct
Investment. This is an untoward route that we have taken before. It should be avoided.

9. The heroines or amazons to be honoured- Mrs Funmilayo Ransome Kuti, Mrs Margaret Ekpo
and Hajia Gambo Sawaba (of blessed memory) - deserve all the possible posthumous
recognitions available because of the profound contributions and enduring legacy they made
to humanity particularly, the less privileged. They represented the finest women of their era
and even today, set against all best practice parameters, their achievements tower. Indeed,
they were rich in ideas, principles and strong in character. As dogged fighters for the rights of
the downtrodden, honouring them with the highest currency denomination belies their proproletariat
stance. They never made any pretensions to pro-elitism and should not be painted
in that light.

10. Finally, the national economy is confronted with a lot of challenges requiring ingenious
strategies to overcome. The cost of doing business is among the highest in the world; the
very high unemployment of youths is creating a lot of social dislocations and security
challenges (graduates of tertiary institutions are now hired as drivers and security guards!);
double digit inflation, etc, have continued to impair the Human Development Indices of
Nigerians. These, in our view, are more critical issues for the CBN and managers of the
Nigerian economy. This indirect devaluation of the national currency is unacceptable. Let's
work towards making the N100 the country's highest denomination in the true spirit of a
cashless economy.

Mr. Adedoyin Idowu Owolabi, BSc (Econs.), MILR, MNIM, FCA
48TH President/Chairman of Council
The Institute of Chartered Accountants of Nigeria

And majority of these CBN staffs and policy makers are members of ICAN.

Now if your institute is agianst the policy of the place you work, and where you are part of the decision makers, what is one expcted to do.

Seriously, Sanusi ought to take the points raised by the ICAN very serious, particularly as regards coins and its consequence.

I hope moderator will bring this to the front page. This is the story.

Sometime in 2011, around March, we got invitation to attend a World Bank sponsored training called ACCESS Nigeria. The program was held in several cities across the country, which includes Ibadan, PH, Abuja, Kaduna and others.

We were made to go through a 3hours intial examination to prone down the number of people that will be selected for the training. After being selected, we were giving a 10 weeks training at Multi-Mix Academy, going to Eric Moore and Ikeja for our theory and practical classes respectively three days in a week for 10 weeks.

At the end of the training, every trainee were made to take another examination in order to evaluate then and prone down the number to those that meet the standard - I suppose. Meanwhile, the impression we were given was that after all said and done, candidates that meets all requirements will be placed on internship after which prospective employers will then decide to take you on if you are up to the task. Let me quickly add that the program was meant for final year students in the University.

To our greatest surprise, that is those of us that took part in the trainning and examination and passed, the organisers (World Bank, Hewitt-Aon, and the Step B Project) then organised an open job fair at the national thearter for everyone to attend and meet prospective employers. And guess who are this prospective employers; NIIT, New Horizon, APTECH, JOB Finders, HR Consult, GT Bank, UBA, Multi-Mix Academy. Majority of them, except GT and UBA, are training providers and job placement recruiters. You will drop your CV with them and expect to call for you for jobs when they are available.

The question is, what is the essence of the trainning and series of examinations we were made to go through in the first place afterall?

To make matters worst, people came from this other centers, particularly from PH, Kano, Adamawa (I saw some folks who chartered a bus from Kebbi and Adamawa, they took part in the series of programs at their respective locations).

I wish this makes front page and the organisers will see it to react. But as far as I'm concernned, the objectives of all the troubles we were put through has been defeated. For them to have thrown the job fair open to even those that didn't taka part in the selection process and all that was unufair and an injustice on their part. For them to have brought in NIIT, and all that into a job fair says a lot about them. Is NIIT an employer or a training institue? They were just there to market their product just like majority of the so called employers of labour, perhaps with the exception of GT Bank and UBA. Even these two banks will not collect your soft copy CV except hard copy- they will just throw it somewhere at the end of the day.

They just wasted our time, energy and resources. Some people even had to rush down from NYSC camp to finish the course. And do you know that we were not given a dime for all these exercise, it was all at our cost. So, what are we saying? For them to only throw us among people who had masters degree and years of experience at an open job fair. I can go on and on but...

paris10: Hundreds of brainwashed Muslims will start defending this heinous and devilish act on this forum now. There's nothing moral about killing of people for religious sake.

Ok, accepted, the Movie shouldn't have been made in the first place, but why not criticize or even ask for apology from the producer? Or don't we still have virgins in the world anymore that you so crave for that 70 virgins which your Allah promised you?

Religion is a cankerworm, not worth it. It makes you blind and deprive you of that true love that bond us together as people. It is a better to be an atheist than join a religion where killing is justified.

American embassy in Yemen is currently on attack. There's something missing and wrong with this sect. Can't Islam sort thing out by way of dialogue rather than violence?

So, why not put the blame at the door step of the 'agent provocateur' because that's what they are. And let me tell you, they aren't oblivious of the consequence. That was infact their aim. And they are getting it. You can see, can't you. God will judge

fittty: Is the movie producer the ambassador or others your brother killed??

In response to your comment. The Ambassador is certainly not the producer of the movie. But the producers were well aware of the consequence. They knew it will result into the death of powerful and influential people. And that was part of the game plan.

If no Ambassado had been killed, particularly that of the United States, the objective would have been defeated. To them, what is the worth of the life of an Ambassador compared to their long term goal and plan? As a matter of fact, one Ambassador is too little for them to conviniently achieve their aim. They would have wished that for more and more attacks, in all ramifications, and just like everyone - muslims and christains- are attacking one another on this plartform, so that they could have a veritable ground to play their role as the world police.

They would prefer that such an occurance produces more terrorist group, in the name of defending Islam, so that they can have an excuise to enter into their territory.

It is all a game plan as far as I'm concerned, and the Muslims are playing into their hands. And why wont they? Because they have studied us and know that we don't take lightly matters such as this.

@Fittty, please engage me in this discussion from an intellectual point of view and not with sentiments or any biasedness. Thank you and God bless you.

KDULAR: Don't be deceived, some of them are as dangerous as the Northern fellows. It was just because there seemed to be a sizeable number of non - Muslims amongst them. The day you have a population proportion of about 40 % Muslims to others , you'll start seeing same thing as it's witnessed elsewhere in the world. I had an immediate senior in Secondary school way [b]back , infact he was the Senior prefect in a school where there are more than 80 % Muslims , this guy was always very brutal with non- Muslims , subtly, he was forcing with canning those who would rather stay in class than go to chapel or mosque [/b]on fridays to the Mosque,at that time! despite the school policy on religion.

I think it is every school's policy (as at when I was in school- 1997) that students should go to the Christian fellowship on Fridays while the Muslims go to mosque.

I remember I used to go to the Christain fellowship because they will give us biscuit after the programme. It was a thurg of war between our school Imam and I. Not untill one teacher voluntered to be buying buscuit for me every Friday. That teaher, today, happens to be my wife's sister's mother-in-law. We met at the son's wedding to my wife's sister.

You see, most post on this issue have really shown how religion have 'dabaru' our life in this country. Muslim and Christians thrown insults at one another! Yet, we claim to be serving God.

I have had tremendous relationship more from my Christian friends. As a matter of fact, I will blame our so called now-a-days Pastors and Imams for this 'woe' so to say. Reason, Allah said in the Glorious Quran, Chaptr 2 Verse 82.

Allah: Thou wilt find the most vehement of mankind in hostility to those who , believe (to be) the Jews and the idolaters. And thou wilt find the nearest of them in affection to those who believe (to be) those who say: Lo! We are Christians.
That is because there are among them priests and monks, and because they are not proud

I have quieta number of post on this issue and I'm quiet disappointed by majority of comments. My basis of being disappointed is that I believe anybody that have the ability and resources to come to this forum should have at least been educated in some ways or the other. So, I'm more disappointed in most commentators ability to differentiate between religion and individual differences,

I'm a muslim and a public affair analyst. But I would like to view this issue with the public affair analysis training in me.

Although I've not seen the film in question, but the question that need to be asked is; what is the motive of the producers of the film, is it to blasphem agaist Islam, Muslims or Muhammed?

To the best of my knowledge and understanding, none of these may possibly be the answer.

Can someone somewhere possibly spend million of dollars, manpower, time and energy in producing a film for the singlelar reason of just portraying Islam and the Muslims in bad light? The answer, as far as I'm concerned is certainly No.

What then could have been the motive or objective behind this so called film about Muhammed or Islam? Believe me-you, it can be farther from economic reason. I guess you know at hand where I'm heading to. I honestly believe it can't be any other reason than for economic and perhaps political reason.

Why did I think so?

I'm quiet sure that the producers of this said film knew the implication and outcome of people's reaction to this film, particularly in the middle east, before sending it out to public domain. They knew the type and amount of riot and may helm that will result from the release and yet went ahead to do so. You will recall that this was the same thing that happened in similar event occured in Denmark some few years back.

In conclusion, the most probable reason for the production and release of the film is to give a dog a bad name so as to hang it. The producers knew quiet well the type of reception and reactio that will greet the said film and they knew what they want to achieve with it; an excuise to make incurssion into a territory under the pretext of protecting their interest. Don't forget that they are the makers of the Al-Qaeeda of this world in the first place. Or what other reason you do you think there could have been for them to enter Iraq, Afghanistan, Pakistan and a host of others, if not under the pretext of looking for Islamic terrorist groups.

And for all those calling for The American drones into the Nigerian northern territory, I pray the affirmative is not the case. It will be palatable at the end, that's just putting it mildly.

Dee60: Sanusi will not stop at it until he destroys the economy. He sees himself as the de facto president of Nigeria and he is so sure GEJ will endorse whatever he says! We have elected a president who does not like to preside. That's the problem! Who will now call the CBN man to order? Even if the new bill will not cause inflation why waste money experimenting?

Why kill the kobo? Certainly his policy will lead to the total burial of the already comatose kobo?

A few years ago when they introduced N1000 they said there will be only a few. Now thats the only bill on ATMs, and that is what people want to carry.

I never believe the statistics churned out by government! At best they are guestimates, and that is why I do not believe that flimsy claim that N5000 will not cause inflation.

Please remind SMS of this one thing. What was USD exchange rate to Naira before N1000 was introduced and what is it now? This N5000 if introduced will lead to DEVALUATION, pure and simple.

Someone should stop SMS because he is proving unstoppable! Mr President, please be president!

The Ghana model is better, please. SOLUDO tried to do it before he left. Decimate this currency and give value to Naira and Kobo. Let N5000 simply become N50. Let the price per litre of PMS be 97kobo instead of N97.

God save Nigeria.

You are right with the boldened. You hardly come across any ATM that gives out anythiing other than that, as if that's the only currency we have in the country.

When I was in Yr 4, I had N500 left in my account and I was hungry, as in hungry, and the ATM will not give me momey, except it is N1000. By the time I started making troubles with the bank manager (Intercontinental Bank, Unilag Branch) he brought out N500 from his pocket, nonesense!

My take on this debate, and which many people have turned blind eye to, is the insinuation that other denominations like N5, N10 and N20 will be converted to coins. That's where I have problem.

Can some one tell me that changing these denominations to coins will not have negative effects on our economy, our the purchasing powers of these particular denominations? Please, I need to know.

gboss4sure: The American authorities are yet to tell the truth about that trade center bombing, it is an insider job meant to for the USA to have a reason to invade Iraq and Afghanistan and impose a regime change "Says by some Americans"

I think so too.

I have read quiet a number of article in this regard. This can't be farther from the truth.

ifeness: People like him are still part of the problem.We need a free thinking society. Not a case where the president is now praying and fasting....shows he has ran out of ideas on how to rule.

Exactly. Praying and fasting may not neccessarily be the solution to a problem.

You need to be seen working

Can praying and fasting fix our roads, health care and educational system just to mention a few?

I'm quiet convinced that our president is deluded of ideas ... pathetic.

musKeeto::
Dorox, why are you still Christian?

dorox: There are different kinds of christian and i think that i am one of the lesser known kind that doesn't need magical incentive to worship.

I like your response to the question. Very simple and genuine I suppose

dorox: There are different kinds of christian and i think that i am one of the lesser known kind that doesn't need magical incentive to worship.

I like your response. Very simple ... and truthful I suppose

maclatunji: Mike Adenuga for GCON? Brother please! Mr. President, you just keep finding ways of insulting Nigerians. Don't keep this up.

Yea! That's beats my imagination too! Why GCON for Adenuga and CFR for former supreme court justices.

I think I read it somewhere that GCON is the second highest honour in the land, GCFR. And I think this is preserved for the holder of the office of the vice president?

The third in line, if I'm not wrong is CFR, Commander of the Federal Republic.

So, what makes Adenuga a GCON? Besides, has he clared his case with the EFCC? I thought they were on his trail sometime ago, when he had to hide in Ghana?

I need to be updated please. Make una no course me o! I just dey ask o!

Billyonaire: We understand there is improvement in power generation, but we need 247 electricity in this country in order to spiral economic growth. We deserve it. GEJ, I commend you for doing your job. I can be rest assured that everything will fall in place when electricity sector becomes another 'telecoms' success. FRESH AIR!!!

I don't see any change in the power supply as far as I'm concerned because it has always been the practice that during raining season, when the water level at the hydro station rises, there's always improvement in power supply. In other words, the seemingly improvement in power supply may not have been due to any magical wand or serious work at hand.

By the way, I sincerely hope Government will disappoint cynics like me on this their seemingly improvement in power supply. At least, it will be to the advantage of everyone, even the opposition. Let's wait and see...

orne: Mak NFF GO BEG SHUAIBU AMODU HM DON SWEAR 4 9JA,IF NT TINS IL NT GO WELL AGAIN! Period.

I agree with you

haky4all: Salam,

I am looking for islamic school for my daughter also.I learnt there is one very close to yaba bus-stop ,along the road to your left when going from yaba to oyingbo.

I will be checking it out on tuesday insha Allah because I have not been around for some time now.

Salam Alaykum

It is called Fareedah. I think it's ok.

Your description of the place is appropriate. It's like two or three buildings after STB McCain, before the junction where you'll turn to Ozone

aswani: I had 2 much older sister's who between them must have had a million bags. Once in a while, or maybe every day even , I used to rifle through the ones they hadn't used for a while.

On a bad day I would find less than 10 kobo. On a good day I would find a few 10 kobo coins. I never used to take any notes that I found because I would have been questioned by the nosy neighbour whose stall I bought the sweets or biscuits from.

I used to like Trebor sweets, there was Minta, Refreshers and the third one that was red which wasn't as popular. I also regularly bought goody goody and fruit drops. Not forgetting kulin kuli a ko mo l'ole which probably was true in my case. I think the popular biscuits then were Bisco biscuits and I think they made Malted Milk which were my favourite.

Anyway I got away with the pilfering, serves my siser's right for having so many bags.

mbhs139: I could remember a day my uncle gave me N5 to go and buy something, I was in primary 3 then, precisely in 1984.

Believe it or not, two adults were asked to follow me to our compound to find out from the elders of our clan how N5 note got to the hand of a small boy like me.

My uncle was berated for giving such a young boy like me such an amount of money.

That's to tell you how big and valuable that amount of money was.

But today, my niece in nursery 2 will not say thank you for giving her N50. She just looked at it ... and moved on.

You see, it's not good to lie. the boldened corroborated my story.

In those day, no young person dare go and buy anything with naira notes ... you will be quarried.

I could remember a day my uncle gave me N5 to go and buy something, I was in primary 3 then, precisely in 1984.

Believe it or not, two adults were asked to follow me to our compound to find out from the elders of our clan how N5 note got to the hand of a small boy like me.

My uncle was berated for giving such a young boy like me such an amount of money.

That's to tell you how big and valuable that amount of money was.

But today, my niece in nursery 2 will not say thank you for giving her N50. She just looked at it ... and moved on.

berem: Thank God I have never entered an aeroplane ! The day I will try it I will stay with the pilots in the cockpit! I no wan hear story!!

bad pikin

Genius100: :

Dude, stop being ignorant. Everybody in the USA use $100 bills, which is equivalent to N16,000. Ghana uses a 50 cedi bill which is equivalent to about N7500. What are you on about? If you ignorant about something, at least ne honest enough to know and say you are ignorant. Please show us the study that links higher notes to inflation..

Zeus I: Mr. Know it all, how is what he said in line with your ignorant answer? Let america start using $5000 bill and turn $100 bill 50, 20, 10 and 5 dollar bills to coins and see where their currency value will find itself before other currencies. When Prof. Soludo introduced the reduction of two zeros what did Nigerians did? Now you are ignorantly, and shamelessly so, before the whole viewers here, defending nonesense. Mcheeew. Bunch of illiterates.

The idiot just wan show us say him dey america ni. Na mumu him be.

Now, to be serious. In as much as I refrain from insulting people on NL, some people will just always ask for it.

My arguiment about the issue is not about corruption but inflation. To say this policy will not cause inflation (and what does inflation means, the rising cost of goods and services, isn't it ... pls tell me if it's otherwise) is turning the arguiment up-side-down.

Was it not the eradication of one naira and fifty kobo note that resulted into every thing being priced to the nearest currency in note?

Tunsbobo: Its a good policy if u ask me.....!

I'm asking you ... Oya, explain why it is a good policy

mekuslogan::
Lagos' problem is intractable. It is in the interest of Yorubas to support a program of even development of the country so that the number of those moving to Lagos (Nigeria's former capital developed with our collective wealth) from all parts of Nigeria will reduce. The more they keep playing tribalism with the developement of other places, the more Lagos is swamped, to the disadvantage of the Yorubas. Now Igbos even rent houses to Yorubas in some parts of Lagos (Festac, Satellite town, etc)

cogitoErgo: what politics are the yorubas/lagosians playing that made other regions not to develop?
if Kano is as accomodating and religiously tolerant as Lagos, I can tell you that Kano would have been as populated as Lagos is today!
Is Nigerian money not being used to develop Kano? Is it the fault of Yorubas/Lagosians that Kano is non-religously accommodating?

@cogitoErgo: that was a very appropriate response to an otherwise warp reasoning.

Nobody can hold anybody not to develop their state and nobody is holding anybody not to develop their state.

The fact that Igbos rents houses out to Yorubas in Lagos is a testimony of the fact of the hospitality of the Yoruba people.

Should I also remind you that Igbos are HODs in Lagos owned public institutions. Can that happen anwhere in Igbo or Hausa land?