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Nairaland Forum / Nairaland / General / Politics / Reinforce Use Of Coins - Reps Tell CBN, Banks (20411 Views)
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Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by franxalive(m): 9:45pm On Mar 22, 2022 |
ebukajay184: FAILED GUNMENT...IN A FAILED STATE... TALKING BOUT FAILED NAIRA AND ECONOMY
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Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by clericuzzio(m): 9:46pm On Mar 22, 2022 |
rep that spend in dollars when they go for clubbing. they don't even use naira self. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by femicyrus(m): 9:47pm On Mar 22, 2022 |
At a time #100 is very much useless? |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Nobody: 9:47pm On Mar 22, 2022 |
Just like that ? Na so them dey use do things , ? I hope you morherfuckers are seeing the Swine you’re going to be running up and down campaigning for . We don’t produce anything yet you want to enforce the use of smelling coins bunch of clowns |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Ofiadiegwu: 9:48pm On Mar 22, 2022 |
The economy is more deserving of urgent legislation to revitalize, not the use of money or the legal tender itself. Economy, not the naira denomination, is in need of attention. Obviously, our political leaders ( esp. the one's in house of Reps) are now confused. Of all matters bedeviling Nigeria, our Dear Country, they chose to legislate on reverting back to the use of coins. To produce the currency, it comes with huge expenditures that when you are told the actual cost of producing 10 billion naira; you will wish that money wast produced so as to save the cost. That in essence means they ( CBN) may have to produce #20, #50, and #100 (naira) all in coins... Coins of #10 or #5 naira are not going to be useful because our bad economy makes the lower denominations unusable. One naira was in notes in the past. The moment it was changed into coins, the value depreciated and it suddenly lost value. I still remember. This plot to mint coins may be from the folks who are clamouring for #5,000 single notes of our naira. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by chloride6: 9:51pm On Mar 22, 2022 |
Why? |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Nobody: 9:52pm On Mar 22, 2022 |
Useless brain-dead legislators, what can coins afford in Nigeria of today? Busy bodies... busy doing nothing. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Emir01: 9:53pm On Mar 22, 2022 |
OkpaNsukkaisBae: Where are you buying your fuel for 230 nd 300 satchet of water? Most you are worst than the so call politicians. You are not doing anybody good by misleading people. Some might fall victim by those people taking advantage of ordinary Nigerians. You buy something 1 Naira and tell a friend N200. You are contributing to the downfall of the society. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Germi9: 9:53pm On Mar 22, 2022 |
Mercy after death |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Chinny024(f): 9:56pm On Mar 22, 2022 |
#20 is already useless talk more of coin...Abi,you want to turn #100 into coin?...mcheeeew.. 1 Like |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by LAFOCUZY: 10:04pm On Mar 22, 2022 |
WATCHOVER: Do you really mean what you wrote or it's a joke and a metaphor |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by slowice(m): 10:05pm On Mar 22, 2022 |
The useless rep should be more worried about 10 - 50 naira that have become completely useless to Nigerians due to inflation caused by their ineptitude. But because live in "corruption paradise" they have been cut off from reality and thinks our problem is with coins |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by sweetkev(m): 10:06pm On Mar 22, 2022 |
Faiththatworks:You gave a valid points but ended it with God bless Nigeria. So in case you don't know, God has turned his back on Nigeria for a very long time |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by WATCHOVER(m): 10:07pm On Mar 22, 2022 |
LAFOCUZY:Don't ask me stupid questions, the United Kingdom and other European countries you are jealous of use the coins till date, Pride is what is destroying this nation most especially the South |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by edosignature(m): 10:10pm On Mar 22, 2022 |
I still have coins in my house trill date. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by omoadeleye(m): 10:16pm On Mar 22, 2022 |
When the face value is more than the increasing value nkan |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by 24brains(m): 10:17pm On Mar 22, 2022 |
SarkinYarki:in cases where pms pump price is at 233 naira, knowing that 3 naira is not payable at the lowest denomination, what will the common man do? |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by BillionKnights: 10:22pm On Mar 22, 2022 |
WATCHOVER:Mtcheeew |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by WATCHOVER(m): 10:23pm On Mar 22, 2022 |
BillionKnights: |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by SarkinYarki: 10:25pm On Mar 22, 2022 |
24brains: Any amount you give them at fillings station the can program it into the pump |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by MISSCONGENIALITY(f): 10:33pm On Mar 22, 2022 |
I wonder how many coins one will have to gather before they can buy sachet of water or a box of matches.. 20naira can't even buy a cube of maggi and they are talking about reinforcing coin. what will the coin be used for? |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by writeprof(m): 10:33pm On Mar 22, 2022 |
It's okay if to will contribute to reduce the cost of things in the country. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by King44(m): 10:39pm On Mar 22, 2022 |
Good news, they should reinforce the use the coin by force. We are killing our currency with our hands while the gvt are also playing their part in ruining the currency by not check mating artificial inflation caused by us. . The artificial inflation and the normal inflation should be regulated, that would make the reintroduction of coin more pleasing. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Nobody: 10:40pm On Mar 22, 2022 |
All this old people done chop this country money finish their brains come turn upside down come dey think backwards. Well done old thieves, una mate dey make bitcoin legal una wan bring back coin for where the notes no even dey valuable. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by 24brains(m): 10:49pm On Mar 22, 2022 |
SarkinYarki:exactly... It is only going to be programed into a payable amount forcing the buyer to either buy more or lose some naira. If i buy 233 naira worth of fuel at 1Ltr, i will be forced to pay 235 or 240 which is payable in naira, losing either 2 or 7 naira to the filling station. THAT is inflation hike!! multiply such small naira to 200million. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by VaselineCrew: 10:51pm On Mar 22, 2022 |
WATCHOVER: Bros na wa for you oh. How is it coin’s fault that it is no longer useful in Nigeria? Chai! Don’t you think it’s the economy over the years that made it useless? Now you want to force Mr. Coin back by fire by force, when it doesn’t have any place left in society? What is 5 naira to dollars? That is like just one cent, 5 whole naira is just 1 cent or lower actually? So how much is 1 naira in dollar, that is like 1 cent divided by 5, chai!!!! Chai chai chai!! So what is 50 kobo to dollar, that is like 0.08 cents. I’m sure it would take more money sef than that 0.08 cents to make one 50 kobo coin. Trust me, coins will make a comeback when it is economically viable, and not before. Imagine if inflation gets so bad that bread becomes 1 million naira, would you still be supporting 1naira coins? At that point, what really is the point? So you will carry 2 million 50 kobo coins to go buy one loaf of bread? Let’s be real! In Countries with strong economy’s, coins have value. I could buy a cheeseburger for 90 cents for example, pay one dollar and I would want my 10 cents change because it’s like 10% of the product I purchased. Juxtapose that with buying something here for 449 naira and paying 500. I would gladly take the 50 naira change and tell you to keep the one naira if you don’t have it, cause it’s not even up to 0.3% of an already low cost product. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by SarkinYarki: 10:53pm On Mar 22, 2022 |
24brains: Most Nigerians usually buy round figures and besides they always have change |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Toni19: 10:59pm On Mar 22, 2022 |
100 naira bill should be change to coin, then I will know you people are serious. What do you want to buy with a coin? Even goat shit is sold for 500naira. |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by nathyx(m): 11:03pm On Mar 22, 2022 |
Proper case of medicine after death |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by 24brains(m): 11:03pm On Mar 22, 2022 |
SarkinYarki:so how will you give a #2 change from #5 if you take #3 when there is no coins of smaller denomination of such? |
Re: Reinforce Use Of Coins - Reps Tell CBN, Banks by Stanleyq: 11:04pm On Mar 22, 2022 |
Coins can't be used unless we get items in de market DAT are worth 50k and 1naira, we can get that by these two to three factors, 1, Buhari has to fulfil his campaign promise to make 1naira equal to 1 dollar, 2, to reopen de closed borders to import goods like rice, 3, to make fuel 65naira per litre..QED. |
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