This question pass WAEC. Who go 'helep me ask Ghadaffi'?

truthCoder:


A coup will happen.

The president and legislators that consider it would be killed by the coup plotters.

Ask Ghadaffi how market?

freemi:
so now that der removed has it not help the value? Pls I want to understand.

Help wetin I copied the below from blog.remitly com to further explain the situation of a worthless currency.

*It’s Ghana’s Fourth Currency*
Ghana’s first currency after gaining independence was the Ghanaian pound. In 1965 this was replaced by the first cedi, which was divided into one hundred pesewas. In 1967, the government adopted the new cedi.

Initially, it was worth one half of a British pound, but over decades it became so devalued that it was worth about a hundredth of an American cent. People had to carry their bills around in sacks!

In 2007, the government introduced the “third cedi.” which was worth 10,000 of the old cedis. This made it worth about the same as an American dollar. However, in the years since, it’s continued to lose value. Only recently does it seem to have stabilized.

The frequent changes in the cedi make it a goldmine for collectors: the Ghanaian pound, first cedi, and new cedi are all out of circulation and interesting to collect.

****Courtesy of blog.remitly.com

Pls, Take note of the LAST PARAGRAPH and tell me what u understand with a sentence...

anyilalaz:
This question pass WAEC. Who go 'helep me ask Ghadaffi'?

Changing your currency from USD to Naira would imply a direct confrontation with the USA.

It is also a direct confrontation with the world finance powers.

To be able to pull it off, you must be completely independent as a Nation.

Only few countries in the world are capable of pulling this off economically.

The us dollar is over valued and has no parity value since the gold parity was removed decades ago. If fewer countries demand the U.S. dollar, it will negatively affect their economy.

Ghadaffi wanted to sell libyan oil only for gold and this led to the whole west waging a war on him, finally killing him.

freemi:
Ghana cedis is far better than naira. Google is ur friend.

that is not how to measure how good a currency is.

freemi:
but if the zero was part of the currency why didn't der add it? No p will research more. But if someone from Ghana dash u 40000 cedis n u change it in Nigeria how much will u have?

They don't add it because the currency has been revalued and redenominated.
Let me explain further using Naira. $1 is almost equivalent to #600 right? Nigeria can decide to remove the 2 zeroes and say $1 is now equivalent to #6. That doesn't make the Naira stronger in value and strength because inflation can in few years drive it to #10 to a dollar. Now add back the 2 zeroes I removed to the #10, what do you get?
Now let me use that 40000 GhC that you gave me as another example. 40000GhC is about #2m when you exchange but what #2m can get you in Nigeria 40000GhC can't get it for you both in Nigeria and Ghana. That's how you know the strength of a currency. Also, you can easily earn #2m in Nigeria than you cant easily earn 40000GhC in Ghana and when you do earn it, it can't do much for you.I hope you understand me?

Let me also give you another scenario. A bottle of Coca-cola is #150 but its equivalent which is 2.8GhC can't get you a bottle of Coca-cola in Ghana. So savvy Nigerian and Ghanaian business people use the ECOWAS Treaty to profit You come to Nigeria and buy 10 trailer loads of Coca-cola at $120 retail price, take the trailers across the border at no extra chàrge, get to Ghana and sell at the equivalent of #250 each or even #350 each if you are selling to hotels.

The only thing driving Nigerians to Ghana is the ability to earn and transact in dollars which they can't do in Nigeria.

I have taken this time to write all these because I can see that you genuinely don't know and you still want to learn and you have been very respectful in your comment which is a rare virtue on Nairaland.

Multiplier7:

Hahaha...you think you're talking to someone that have not been to Ghana

Charley...Ghana is not a good example of a country with 24/7 electricity...take it or leave it.

I’ve equally stayed in Nigeria,Ghana is a better example of stable electricity compared to Nigeria,fact,unless u want to be in denial which I think u are

truthCoder:


Nigeria can add the whole of ghana to its electricity grid. Ghana cannot feed ordinary Oyo state.

Just because we bash our country doesn’t mean we are your mates.

What exactly do u mean by we’re not your mates… just because u breed like rabbits doesn’t make u a giant ok
Giants are built by their strong institutions, leadership, economic influence, political influence, strong international alliances and strong military alliances and non of the above do u have more than Ghana wake up n smell the coffee and stop living in delusion grandeur…

truthCoder:


How many are you ?

Ordinary lagos street light consumption is more than all ghana’s consumption combined.

Abi no be the same ghana wey be bush from Aflao reach Accra again?

Ghana that people buy one bottle of beer and spend hours drinking it?

Ghana that envies Nigerians because our small boys will enter your clubs and go home with two gurls girls each?

Ghana?

Don’t worry, Your breakfast is cooking…

Ghana is 30million yes by Nigerian standards we’re small,so for ur mind that’s the reason for our stable electricity ok Lagos is 20million less than Ghana why does lagos not have 24/7 electricity oya

Stop glorifying mediocrity so Nigeria has epileptic power because of population…. You really deserve the kind of leaders you have…!
So why is china and india not having epileptic power supply since they have an even larger population and consumption than you…

You are so pained u had to divert the argument to girls and clubs to soothe ur pain and comfort ur ego

Swanzi:






Ghana is 30million yes by Nigerian standards we’re small,so for ur mind that’s the reason for our stable electricity ok Lagos is 20million less than Ghana why does lagos not have 24/7 electricity oya

Stop glorifying mediocrity so Nigeria has epileptic power because of population…. You really deserve the kind of leaders you have…!
So why is china and india not having epileptic power supply since they have an even larger population and consumption than you…

You are so pained u had to divert the argument to girls and clubs to soothe ur pain and comfort ur ego

We are a nation with our problems.

We recognize the issues we have and there are agitations by the citizenry to change the status quo.

If there is any insult you can spew, it would never be that we are lazy. We all work very hard at what we do. We are passionate for success.

Our light is bad but it has been improving. It might take some time, but we will get there.

I have been to Accra many times. I know how deep the hatred for Nigerians run.

Your men are afraid of Nigerians. You do everything you can to wreck Nigerian businesses in your country. Despite that, we own the best houses in West Legon and Roman Ridge. You can only afford to live in places like Oshiyie and Ahinsan.

I will be coming to Accra very soon to make some of your girls happy.

Continue to listen to your local radio stations where they advertise money making charms every 10 minutes.

Swanzi:



What exactly do u mean by we’re not your mates… just because u breed like rabbits doesn’t make u a giant ok
Giants are built by their strong institutions, leadership, economic influence, political influence, strong international alliances and strong military alliances and non of the above do u have more than Ghana wake up n smell the coffee and stop living in delusion grandeur…

You evidently are a chest beater.

Ghana depends on aid. We don’t.

We have the best military in West Africa, the fourth in the whole of Africa.

Guess where Ghana military is ? Number 17 after Zimbabwe.

You mention economic influence? Your biggest banks are owned by Nigerians. Your cement is Nigerian. Mention one major influence Ghana has in Nigeria.

When Nigeria closed her borders, you almost died of hunger. If not for the pleas of your leaders, you should have been cooking leather shoes by now (just joking)

Smart move,mumu dumb Nigerian senate and politicians na to dey fck, steal money up and down and politicking, when their Ghanian mates are doing real things.

truthCoder:


Changing your currency from USD to Naira would imply a direct confrontation with the USA.

It is also a direct confrontation with the world finance powers.

To be able to pull it off, you must be completely independent as a Nation.

Only few countries in the world are capable of pulling this off economically.

The us dollar is over valued and has no parity value since the gold parity was removed decades ago. If fewer countries demand the U.S. dollar, it will negatively affect their economy.

Ghadaffi wanted to sell libyan oil only for gold and this led to the whole west waging a war on him, finally killing him.

Thanks for the insight. A man that stop learning is not worth living!!

truthCoder:


You evidently are a chest beater.

Ghana depends on aid. We don’t.

We have the best military in West Africa, the fourth in the whole of Africa.

Guess where Ghana military is ? Number 17 after Zimbabwe.

You mention economic influence? Your biggest banks are owned by Nigerians. Your cement is Nigerian. Mention one major influence Ghana has in Nigeria.

When Nigeria closed her borders, you almost died of hunger. If not for the pleas of your leaders, you should have been cooking leather shoes by now (just joking)

You too can lie

First of,who told u Nigeria does not take in Aid who deceived you
A simple google check could have rectified this ignorance…

You have best military in west Africa and yet bandits are having a field day slaughtering innocent civilians that can never happen with Ghana…
We also had an issues with Fulani herders in Ghana and the joint military and police collaboration swiftly dealt with them so how is ur military better than us…?

Again how do u mean by our best banks are Nigerian owned by Nigerians…
Some of Our best banks are
GCB
Fidelity bank
Cal bank
Ecobank
Republic bank
Pls which of them is a Nigerian bank…?

Yes we have Nigerian banks like zenith we
Also have absa a British bank and societē gēnēral a French bank so what’s ur point really..?

Again is it that u lack the grammar to express ur self or u are joking as usual … what do u mean by our “cement is Nigerian”
Dude we have several brands of local cement produced here in Ghana just because dangote is here doesn’t mean our cement is Nigerian..
We have …
GHACEM
Diamond cement
Dzata cement
SOL cement (which is even cheaper than dangote
Etc….
So what are u even talking about u sound clueless bro…


We have several influence on u man …
In music we influenced u through the high life genre which has given birth to afropop which ur musicians wizkid burna boy and davido uses…
Our highlife also influenced Fela in his afrobeats…are u aware the legendary fela kuti stayed in Ghana for a while and got his inspiration from Ghana highlife…?

In sports are u aware we influenced how u play football back in the 60s…?
Your football was just raw hit and run Ghanaians introduced the art of showboating and skills to ur football…Goan ask mathematical odegbami…!

For the rest I will pretend I never saw it…

https://www.youtube.com/watch?v=TSTfRMAreN4

COVID-19 helped the The Ghanaian cedi to be strong

Rubbish! Arrant nonsense!

[s]

truthCoder:


You evidently are a chest beater.

Ghana depends on aid. We don’t.

We have the best military in West Africa, the fourth in the whole of Africa.

Guess where Ghana military is ? Number 17 after Zimbabwe.

You mention economic influence? Your biggest banks are owned by Nigerians. Your cement is Nigerian. Mention one major influence Ghana has in Nigeria.

When Nigeria closed her borders, you almost died of hunger. If not for the pleas of your leaders, you should have been cooking leather shoes by now (just joking)

[/s]

.

Cocking:

The first question u should be asking ourself is, why are they all moving to Ghana (e.g the likes of JP Morgan moved out of Nigeria, Pz Unilever etc moved out to Ghana majorly due to cost of production and security)... And stop comparing populations where it's not applicable...

Nigeria has a default advantage over any competitors in.Africa.

that advantage is her market. they need gas, and power, Nigeria has this in abundance

while it might be attractive to move in the short term, it would be a disastrous mistake in the middle to long term.

This is the reason Unilever left and came back in 6 months in 2016.

It would be foolish to leave the largest market in Africa where you have established market hegemony to a less attractive market just because of problems that could be fixed and are being fixed

Greyworld:


You are dull and it hurts me to tell you. I said Nigeria economy is sick if factor(s) of production aint favorable does that speak well of the economy??

There is insecurity and companies are moving out, that's spells doom for the economy.

Now the reason Nigeria still has perhaps in paper the largest economy in Africa is cos of population.

Now dont mention me again. Go away.

There's no country in Africa that can match the resources(human and material) that Nigeria has apart from Congo DRC.

Don't compare Nigeria to any African country again.

Where dem reach, na where we start

Bluntemperor:


No,No,No, they are not copying anybody !
Don't mix the two scenarios,as the Russians are box into tight corners because of Putin irresponsible leaders,whose main objective is to annexed a 42Millons Ukrainians and dubbed it 'special operations' but as we can see now,he has lost but has no shame to tell the Russians populations of 146-Millions People that he should resign!
The Ghanians are building their economy and they should be commended!
Unlike Nigerians that even in party affairs and to get a presidential candidate,it depends on the sharing of Dollars at a Convention.PDP did it in Port- Harcourt,where Atiku,Saraki etc were every where then? Is that not killing of Nigeria economy and where do we copy this act from.Do we see UK Officials,the Americans wasting their Currencies on Conventions and irrelevancy,for if politicians can be doing this,then no hope for economic rebound!
This is now being copied by all the politicians in Nigeria- get to power,get the treasury and recoup your money! Is that the way economy grow?
No wander the Unemployment amongst the Youths is a long trojan in the land of abundance!
Shame to our Politicians ,as they have no solutions again to move the country forward,other than lies!
Do you even know that Ghanians Currency- the Cedi is moving against the Naira? E ckoke,!
Argue with the truth and kiss the transformer!

Your economy is highly dollarized, your CBN is jumping up and down to stem the massive inflation from the never-ending demand of the dollar.

which economy did you say Ghanaians are building again? Zimbabwe go learn work for where una de

truthCoder:


Changing your currency from USD to Naira would imply a direct confrontation with the USA.

It is also a direct confrontation with the world finance powers.

To be able to pull it off, you must be completely independent as a Nation.

Only few countries in the world are capable of pulling this off economically.

The us dollar is over valued and has no parity value since the gold parity was removed decades ago. If fewer countries demand the U.S. dollar, it will negatively affect their economy.

Ghadaffi wanted to sell libyan oil only for gold and this led to the whole west waging a war on him, finally killing him.

True, the de-dollarization of the world economy would lead to the massive erosion of the purchasing power of America and Europe.
This would effectively mean that these countries would loose their wealth and prosperity on the back of massive inflation that would erode the value of their currencies making them poor.

The value of the Euro and the $ is(was) guaranteed by trust and faith of their governments and the petro dollar.

all that faith and trust has been shattered by the weaponisation of the $USD and the Euro against Russia

In reality the value of any currency should be pegged to commodities.

The dollar based world economy enforced and sustained by the petrodollar and Breton woods institutions is fast paced coming to an end.

Western politicians are getting more desperate, and would do anything to ensure that this does not happen.

But, if history is anything to go by, empires that rise at the end of their time, would fall.
This is inevitable.

Nigeria should set herself up to benefit from this emerging world order or continue to be subservient to hegemonies.

Greyworld:


You are dull and it hurts me to tell you. I said Nigeria economy is sick if factor(s) of production aint favorable does that speak well of the economy??

There is insecurity and companies are moving out, that's spells doom for the economy.

Now the reason Nigeria still has perhaps in paper the largest economy in Africa is cos of population.

Now dont mention me again. Go away.

No vex Mr Embodiment of knowledge, I don't have that time to start hurling insult on u bcoz I'm here to learn from everyone and also correct some wrong notions which I had perfectly executed I would have seriously loved to engage u on this topic but it's going to be a waste of time and energy due to ur manner of approach... Make I excuse this my oga for Ghana Matter, Oga u win for ur capping .. Peace out

Subsaharan:


There's no country in Africa that can match the resources(human and material) that Nigeria has apart from Congo DRC.

Don't compare Nigeria to any African country again.

Where dem reach, na where we start

Can you point where I compared Nigeria to Ghana. Its abysmal to do that, like I said before Nigeria should not compare her self to Ghana whom ordinarily she Best. Only Lagos and Kano population surpasses the entire Ghana.

My own position before that person started spilling thrash is Our Economy is sick and our saving grace right now is a huge population.

Going with what you rightly said, with the abundant human and natural resources in Nigeria, is the country at optimal level??

Subsaharan:


There's no country in Africa that can match the resources(human and material) that Nigeria has apart from Congo DRC.

Don't compare Nigeria to any African country again.

Where dem reach, na where we start

That bros just dey cap something else, only kogi solid minerals deposit fit drag with Ghana let alone the whole federation.
Remove the population,that was my bone of contention b4 he tagged me as a dullard....

Tombrown3:


Can 1naira buy you anything? Since we are comparing it to lowest denomination.

Do you think 1 cedi is the lowest currency in Ghana?

Ghana has 50,20,10 peswes