just2endowed:


Dollar is cedis is still around 12.5 cedies
Dollar to naira is hovering around 700 to 730


My bro so

it's actually still surprising that Nigeria still have people like you who still doesn't know about redenomiation of currencies.

tishbite41:

Why was Soludo stopped from redenominating the Naira?!

Stopping him was the best thing that happened to the Naira. The Naira and the economy would have been ruined if he had been allowed to do that.

GooErubs:
Yet 1 Ghana cedie = #40, and we Nigerians get mouth to blast Ghana. Also,1 USD = 12 Ghana cedie. So which currency fairs better globally?

Oga learn. They are educating you. Don't be fixated on exchange rate. Think about value (Purchase Price Parity), stability and balance of trade. Those are the determinants of currency worth. ECO101
This was what BAT mentioned but ignorance no go gree people understand.

Originalsly:
Hmmm..... borrowing from IMF or World Bank is like borrowing from Satan. Draconian conditions come with IMF loans .... devaluation of currency... that is now in effect .... freezing of Public Sector salaries and selling off of government assets.... this is just the beginning of the end.

So who should we borrow from? If we borrow from China that has less interest rate and less stringent condition una go still complain.

And don't make the statement that we can do without loans because we can't.
Oil money and taxes are not enough to build the infrastructures we want.

Ghana should devalue its currency finally and boost its export

MoneyMustBMade:
Yet Ghana currency is still higher than naira oo when naira was formerly higher than Ghana cedis...

Our own is off completely, so no praise of Nigeria yet oo

First check thier currency rate on current exchange and check naira and come and rewrite your comments

Cedis is still far higher than naira

You are ignorant. Ghana just rebased their currency and that is why it's better than the naira in current unit value. So their currency is still the worst. Maybe you should educate yourself before talking.

Ghana has a land mass of 200,000 SQ KM, which is five times smaller than Nigeria, yet it cannot develop its infrastructure, what a waste.

MoneyMustBMade:


So if Ghana person carry 1k cedis and me carry 1k naira to U.S mean naira will do more than the Ghana own is U.S after exchange to dollar?
Bro we are talking about dollar here not about what the money will buy in Ghana and stop confusing urself, what the op mentioned is dollar to cedis

This guy na illiterate. You don't understand economics. He is talking about purchasing power and other economic fundamentals. Not the cosmetic economic voodoo Ghana did to their currency that didn't work.

voltron14:


You know Nigerians don't like to know the truth.

Nothing hurt me more than when Nigerians were busy forming endSARS just after covid and low oil prices.

Nigerians are a rare breed abeg.

Nigerians are one of the most law abiding. Truly most economies are in shambles but the Nigerian system does not aid dissemination of the right information. Sometimes, instead of Government to tell the truth, they turn everything into a propaganda. Wanting to make themselves seen as saviours by the masses.
Remember that the start of the Covid/EndSARS issue was when some politicians started to use Covid branded palliatives as birthday gifts.

NgeneUkwenu:
Just few months back, Ipob vandals were all over the place, praising Ghana and cursing their country.

Useless bunch of kanu urine drinkers.

including your Emilokan's leaking bladder. Useless Emilokan urchin

Precinct:
The world economy is not in its best form right now.

You are right to some extent but Nigeria and majority of the African countries are experiencing economic decline because of the actions of corrupt political leaders.

voltron14:


You know Nigerians don't like to know the truth.

Nothing hurt me more than when Nigerians were busy forming endSARS just after covid and low oil prices.

Nigerians are a rare breed abeg.

Masses problem pass leaders own

InvertedHammer:
/
I guess "reverse japa" will be activated

Nigerians love to run around a lot that's why there are millions of Nigerian youths rotting away in foreign lands. Disregard the 1% that come back to make noise when providence smiles at them.

/

Lolzzzs

Until Africa do away with this dollar as means of exchange we will never progress because this America you see are bent on making sure they remain the god of the earth. That's why I dont like their philanthropies gestures in any form

GooErubs:
Yet 1 Ghana cedie = #40, and we Nigerians get mouth to blast Ghana. Also,1 USD = 12 Ghana cedie. So which currency fairs better globally?

Add back four zeros and you will get the real value of the GhCedi. $1 in reality equals GhC120,000.

agadez007:
Bad news but Good news to us,there is this Ghanaian lady on TikTok whose contents are solely based on comparing the Naira and the Cedis,”if I take this 200 hundred cedis to Nigeria,I will be a billionaire in Nigeria” she says and you see some dumb Nigerians supporting her,foolish people that don’t know the real value of worthless cedis

She is an illiterate Ghanaian or an IBO trader in Ghana disguising as a Ghanaian lady. If you think about IBO hatred for Nigeria beclouding their reasoning one becomes very depressed.

Ghana economy can never be compared to Nigeria. No basis of comparison. The only thing is that Ghanaians are very modest people.

Decimalisation of Cedis done over a decade ago should not be the yardstick for comparing Cedi to Naira.

Seriously, unbelievable! This is a lesson to Nigeria government to sit-up and do the needful. Nigerians in diaspora should ensure they vote the right leader come 2023 election.

Heffalump:
Naira is still among the worst currencies of the world.
Those beating their chest about Ghana, their currency is still far stronger than Nigerian naira.

How can you compare yourself with a country whose currency exchanges at less than 13 cedi to 1$ and you, who has almost $750 to the dollar? We are not mate to Ghana at all.
Consider political stability, security, social amenities, trade and tourism (Nigerians trooping to Ghana for foreign training like Dubai). Nigeria is still learning and coming from a distance behind.
See the truth and say it. period

Add four zeros to the Cedes before you compare. Let me help you. When you add back the four zeros, Ghana Cedes to $1 will now be GH₵130,000 to $1. Now, tell me which of the currencies is stronger. Ghana currency is fast going the way of the Zimbabwe's currency unless the country do something extraordinary.

Besides, if Nigeria also re-denominates her currency like Ghana did (removing 4 zeros), 7.5 kobo will be ( nominally) equal to $1. According to your logic, Naira will be more valuable than the US Dollar which is not true.

1NGN = 3 South Korean won.
Nigeria is better than South Korea.
Dumb lots.

Iriruaga100:


To educate una go hard o! 1000 Naira will get you more goods and commodity in Nigeria than in Ghana. A Ghanaian with 25 Cedis wil get lesser goods in Ghana but if he takes his 25 Cedis to Nigeria he will get much goods than he did in Ghana.
In essence, the Naira have good purchasing power than the Cedis.

Bro u don't need to convince this people or lecture them a Liter of Petrol is at 12.7 right now people in Accra are taking bike for short trip for as much as 10 cedis imagine going from Ikorodu to Agric Bus stop make dem dey charge u 1k....



And where du u want to see Cedis exchange for 25GHS u wan go rob CBN you will be buying your cedis from black market maybe at 16 right now that's if you've luck wetin u wan use 16cedis buy....


He no even buy Semo 1kg wey be 20 cedis....


The money I can say rugged now na Cefa and you will see most Ghanaian going to Togo to buy things.....


Cefa wey worst towards Cedis before now na him dey beat cedis blue black and derr dollar no gri jump any aw...

Okoroawusa:
Personally I don't think it's Addo 's fault. The whole world is in a serious mess right now and 2023 is not looking good either.
However if you live in Ghana I will advise you to run. The economy is about to blow tube and tire.

If you take loans in another currency, then it's your fault

Iriruaga100:


I have real time statistics from both countries.

Bro u no fit lecture this kids dey av neva spend the currency for once na Google dem du use....


They go to Google and type how much is Naira to Cedis whereas in real life you can never get that rate wu wan sell am for u.....

inoki247:



Bro u don't need to convince this people or lecture them a Liter of Petrol is at 12.7 right now people in Accra are taking bike for short trip for as much as 10 cedis imagine going from Ikorodu to Agric Bus stop make dem dey charge u 1k....



And where du u want to see Cedis exchange for 25GHS u wan go rob CBN you will be buying your cedis from black market maybe at 16 right now that's if you've luck wetin u wan use 16cedis buy....


He no even buy Semo 1kg wey be 20 cedis....

I observed that the social media in Nigeria (including Nigerians in diaspora) is mostly populated by youths who are not very intelligent and exposed enough to contribute to political and economic discussion. They are mostly musical stars, football stars and presidential aspirants fans. They also do online dating and business (legal and yahoo). You cannot objectively and constructively educate them.

Ghana carried out decimalization of CEDI during Obasanjo government. As at this period, at Allen Avenue, Cedi was worthless, just like paper.

Prof Charles Soludo was the CBN governor. He submitted proposal for the decimalisation of Naira to Obasanjo to make =N=1 equal $1. That was 2007. Obasanjo gave approval. Yaradua came. I remembered late Prof Sam Aluko wrote to government against decimalisation of Naira. Prof said it is a very wrong economic principle and that economic forces should be allowed to control exchange rate to visibly see how the economy performs and to prevent false confidence. Some economists supported Prof Aluko. Yaradua stopped Soludo from decimalising Naira.

Despite the poor performance of the Naira compared to how Cedi performed after decimalisation, Naira is still stronger than Cedi in economic indices

The plight of Nigeria economy is that many countries are indirectly dependent on Nigeria. We can never have a very strong economy surrounded by poor family members.

babaolofin:


I observed that the social media in Nigeria (including Nigerians in diaspora) is mostly populated by youths who are not very intelligent and exposed enough to contribute to political and economic discussion. They are mostly musical stars, football stars and presidential aspirants fans. They also do online dating and business (legal and yahoo). You cannot objectively and constructively educate them.

Ghana carried out decimalization of CEDI during Obasanjo government. As at this period, =N=1 is more than 30 Cedi in Black Market. At Allen Avenue, Cedi was worthless, just like paper.

Prof Charles Soludo was the CBN governor. He submitted proposal for the decimalisation of Naira to Obasanjo to make =N=1 equal $1. That was 2007. Obasanjo gave approval. Yaradua came. I remembered late Prof Sam Aluko wrote to government against decimalisation of Naira. Prof said it is a very wrong economic principle and that economic forces should be allowed to control exchange rate to visibly see the economy performs. Some economists supported Prof Aluko. Yaradua stopped Soludo from decimalising Naira.

Despite the poor performance of the Naira compared to how Cedi performed after decimalisation, Naira is still stronger than Nigeria.

The plight of Nigeria economy is that many countries are indirectly dependent on Nigeria. We can never have a very strong economy surrounded by poor family members.

If we are to use dere analysis Nigeria is better than South Korea since Naira is bigger than South Korea currency.....



Me no dey argue with anyone if u say life easy dere abg dey go....


No be me go stop you from enjoying the easy life u be adult na u go learn ursef....

No, you have committed a fallacy, Nigerians are lawlessness to the core, drivers don't obey traffic light rules, ignore zebra crossing rules, driving against traffic, urinating by roadside, littering the main road, dump refuse in drainage, corruption/bribery is rampant, smoke and noise pollution..... the list is endless.

You need to travel out of Nigeria and you will understand the high level of our crimes. Those examples I listed above believe me or not, no Tinubu, Atiku nor Obi can stop it, now it is an attitudinal behaviour like a norms for Nigerians, they see no wrong in it, and my brother, people are jailed for breaking it in another country.

Back to cedi issue, Nigeria economy is far better and stronger than Ghana. I knew how they went about lifting the face value of cedi and leaving the intrinsic value. It is like a building with bad foundation. The building must crack, and it is just the beginning for Ghana, it will soon collapse.

MikkySexy23:


Nigerians are one of the most law abiding. Truly most economies are in shambles but the Nigerian system does not aid dissemination of the right information. Sometimes, instead of Government to tell the truth, they turn everything into a propaganda. Wanting to make themselves seen as saviours by the masses.
Remember that the start of the Covid/EndSARS issue was when some politicians started to use Covid branded palliatives as birthday gifts.

NgeneUkwenu:
Just few months back, Ipob vandals were all over the place, praising Ghana and cursing their country.

Useless bunch of kanu urine drinkers.

Don't mind those guys, they are educated illiterates.

I remember when Soludo wanted to copied the same monetary policy from Ghana few years back.

Thank God that President Yar'Adua stopped him.

inoki247:




If we are to use dere analysis Nigeria is better than South Korea since Naira is bigger than South Korea currency.....



Me no dey argue with anyone if u say life easy dere abg dey go....


No be me go stop you from enjoying the easy life u be adult na u go learn ursef....

My brother, na so e be o

tishbite41:

Don't mind the foolish pple defending nonsense

Try to learn the different btw number and purchasing power. Any country can redominte her money and say $100 is 0.1 of that country currency. The question is what can you purchase with that 0.1. Hence purchasing power is the key and not number. Naira has values more than cedis.

MoneyMustBMade:


As they took it off did they took dollar own off too?

And yet you can't even get naira at bank rate coz bank don't even have the dollar
You have to go to the black market which is 743/$ today

If you sabi your math, you can see that after taking 1000 out, the cedis has lost values to $ about 11-12 times. To make it easy let's use 10 times. Hence the actual value of the cedis is 10×1000×1 = 10000. Hence $1 is now 10000 cedis. Hope that makes sense to you.

And you know dollar at a bank rate is a fraud. 700+ is that actually rate. When you create a bank rate, only selected people, people with connections will get it...bank officials, politicians etc are part of this. They will access the dollar at bank rate and sell to aboki at an instant profit. Common man like me and you can't get it. Govt you stop subsidizing it. They allow it to float at same rate with black market. Black market will cease to exist. People will easily go to bank to get dollars. Less demand for Dollar is what will boost Naira though.

Very silly set of deluded and brainless human beings.

NgeneUkwenu:
Just few months back, Ipob vandals were all over the place, praising Ghana and cursing their country.

Useless bunch of kanu urine drinkers.

babaolofin:


My brother, na so e be o

Before I can argue with you about Ghana and convince me I will ask you some questions.....


If you no fit answer dem den you're a joker goan experience the country economically first and come back..

1. Have you try to get there papers and know the cost and how much...


2. have you try to do business in Ghana before and also know the cost of doing company registration as a foreigner alone....

3. and shey u don buy fuel for Ghana before...


4. shey u don spend the Cedis gan gan wey we dey talk....

at least if you can answer this I know you've experience Ghana den me nd u can argue...