₦airaland Forum

At least someone is thinking



https://www.premiumtimesng.com/news/headlines/534851-in-nigeria-village-king-creates-own-currency-to-drive-economic-empowerment-in-rural-community.html[/quote]

placeofallure:
I love the laughing meme that you attached to your post. You yourself you're laughing at how stupid you sound. Oponu!

The guy is demented I tell you

What are you talking about? Didn't you read it takes 72 hours for the lodgement of the voucher i.e conversion into Naira. Remember there's also a discount on the voucher. 4000 Naira for 5k Voucher. Makes sense

layycon:
Great idea but it won't work. As long as you are a in Nigeria, everything will be driven by the Naira. The village people still have to trade with Naira with people outside the village. It makes no sense in the long run.

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OFFICIAL336:
I love this King.

Give him the Nigerian president

Kukuma go and live in the village na.

SensualMan:
Wow! This same Kwara that was snatched from the weak Yorubas?

Same way we Igbos are positioning ourselves strategically economically to take over lagos with Okoro as lagos state governor, Igbo local govt chairmen, House of Assembly, house of Rep and Senate. . Just a matter of time.

We will drive Yorubas out of Nigeria.

You are sounding stupid

Danifalls:
Nonsense



Contact us for your research project and Thesis. +234 803717 1389

and mumu like u dey do research

DonroxyII:
It's a Voucher drawn on the Microfinance bank of the King(Olive) which implies the King settles the Liabilities of his villagers to the extent of the monetary value of Foodstuffs drawn on the Voucher:

Just like normal Voucher given to you by Roadside mechanics:

The Voucher now has a central issuing systems licensed by the kings microfinance bank for the Money Backup I.e. The Voucher is backed up by Naira drawn on the Kings Bank.

This is just the Kings Way of Gifting his people with Foodstuffs and Drinks instead of Dashing them Money which they will divert to other means:

Also the King has a large superstores which accepts the Voucher for wholesale of Foodstuffs to retailers and final consumers thus the King Superstore is the Banks while the Issuing Microfinance is the CBN and Naira is the Gold Backup!

I love your analysis. Nice implementation from the king. Long live to him

YourNextLevel:
Na waoo, great economist but not going to be value tender outside a region

that's why he created it to make the villagers patronize themselves

Reminds me of a couple of years back when my younger sis brought vouchers back from the company where she worked in Lagos. They give each staff a full booklet like cheque book to use for a whole year. We usually used them at ShopRite. The thing make sense die

I think what the king is trying to do is to give them free money, but he wants to ensure that the money is spent within the community hence the voucher.

He will take back the voucher from the shop owners and change it to Naira for them, or they will deposit the voucher in their account via the IDFC and Naira equivalent will be deposited in their account.

Nice move

Crixxx:
Dead on arrival

Lol
Frustration nor go kill this one

Just because the news didn't come from the east

This is the same reason why nobody wants to associate with you people.
Hatred and arrogance is in you people's bloodlines

As an Economist this policy is the best kudos to him

Very intelligent view from you. Well, it's good the king is a Billionaire. We don't know how much of a billionaire he is but I believe he has a target. He would be super happy to see the standard of living of his subjects considerably higher.

kazyhm:
It a dangerous venture by the King.

However, if he is kind enough to fund his village to this extent, I believe he is smart enough to know when to stop..



It will take diligent and honesty from his subject to keep the system for more than one year

The purchasing power of the voucher.......is a tricky transaction.....and this is a test of the villagers conscience.

I can not read all this,but from people's comment,I know the king try,u know wat will make it succesfull is if that village is 80% producers,

Another ORANIA in NIGERIA, good development

SensualMan:
Little girl lemme school you, Lagos was once the capital of Nigeria until Yorubas invaded the land, polluted it and made a mess of it. It angered IBB and out of frustration he relocated the capital of Nigeria to Abuja.
God bless Buba Marwa, Father of modern day Lagos who cleaned up the city, attracted and invited his igbo billionaire friends to invest in the dilapidated state. To God be the glory, Lagos is what it is today all thanks to General Buba Marwa and the Igbos. When ur god of yoruba land is disgraced today, wait for us in 2027
We are coming for Lagos state governorship to take it back. Tinubu won't be there to save you people.

Ya Fulani brothers don credit ya account because of this ya comment.

BeardedmeatR:
I got tired of reading. This king should be the next president without further delay. No primary no election just oath of office straight.
Mynd44, OAM4J Seun Lalasticlala

He seem to be building a happy community, he no want too much stress for his people.

SensualMan:
Little girl lemme school you, Lagos was once the capital of Nigeria until Yorubas invaded the land, polluted it and made a mess of it. It angered IBB and out of frustration he relocated the capital of Nigeria to Abuja.
God bless Buba Marwa, Father of modern day Lagos who cleaned up the city, attracted and invited his igbo billionaire friends to invest in the dilapidated state. To God be the glory, Lagos is what it is today all thanks to General Buba Marwa and the Igbos. When ur god of yoruba land is disgraced today, wait for us in 2027
We are coming for Lagos state governorship to take it back. Tinubu won't be there to save you people.

TRASHY

That king should be the next President of Nigeria ! He is intelligent and has practical ideas about how to develop his community. His kinds should be in charge of Nigeria.

May your reigns be long Oba Ademola Ajibola. Kaabiesi o,k'ade o pe l'ori,ki bata o pe l'ese,ki irukere o di okinni ni o,ase Edumare !

This is a leeway to anarchy.

BTW, it's not currency, it's just a voucher and should be treated as such. Giving it a touch or semblance of currency is a violation of extant laws.

OFFICIAL336:
I love this King.

Give him the Nigerian president

Not with this present arrangement, maybe somewhere around uraguay after their poorest president.

Watch the devils in government swoop down on him lest others copy his idea and jettison that useless tissue paper currency the naira that is dropping faster than a crashing plane just like they did to Soludo when he tried to re-decimalize the worthless currency but they perished the idea during Yaradua's tenure. Ghana did the same years back and today their currency is miles ahead of the moribund naira.
You need to compare the values of other smaller African nations currencies to the naira and see how miserable our naira is. Thenjiwe the South African comedian even once compared the Nigerian naira to the collapsed Zimbabwean dollar. I felt so horrible and wondered how a currency that was worth more than the dollar during the 70's come to such a pass. A butt of jokes within the comity of African nations yet next year another klepto will be voted in to continue the rot.

oneman11:
I love your analysis. Nice implementation from the king. Long live to him

Welcome Sir!

Is this even legal?

Leoleo1:
Very intelligent view from you. Well, it's good the king is a Billionaire. We don't know how much of a billionaire he is but I believe he has a target. He would be super happy to see the standard of living of his subjects considerably higher.

Probably there is a budget for the project.

I want to believe strongly so

BeardedmeatR:
I got tired of reading. This king should be the next president without further delay. No primary no election just oath of office straight.
Mynd44, OAM4J Seun Lalasticlala

Only a good Leader travels abroad, gather experiences, come back home and try to implement what he got just to better the lives of his people. Bubu has been traveling for over 5 years now without any tangible benefits.
God bless this king.

Why the king dey wahala himself. Na 9ja we dey oooo

The voucher can be tied down to massive investment, investment withing the community. The can invest massively in mechanized farming and adding value to the raw farm produce. Raw produce should not be allowed to be sold out,it should be converted I to finished goods. The issues of buying items that cannot be produced in the community can be checked and balanced. If well handled,the voucher might even turn out stronger than the naira. Anything is possible,we just need to think of the problem and solutions.