successmatters:
Redenomination ko, mumunification ni

They want to copy what Soludo suggested over 15 years ago today, copy and paste trial and error people.

When illiterates that forged certificate after damaging their brains with hard drugs are making policies

E go enter all una body for this country one after the other.

😂😂

Taylor90:
Jokers


Useless country

You're a fool for calling your country Useless

Taylor90:
Jokers


Useless country

Only useless youths make useless country

successmatters:
Redenomination ko, mumunification ni

They want to copy what Soludo suggested over 15 years ago today, copy and paste trial and error people.

When illiterates that forged certificate after damaging their brains with hard drugs are making policies

E go enter all una body for this country one after the other.

Enemy of the state. We all know that you and your people, after loosing the election, will do anything to burn down the country just to prove a nonsense point. No matter you all's wishes, Nigeria will be good, whether una pray to partake inside the goodness or the ruin you all wish the nation.

starstaz:


Really. If Professor Chukuma Soludo is foolish for projecting this idea and I support his foolishness, so be it . It's only a fool that will dream of flying a car to the moon as satellite. Elon musk too is a fool .

Now , back to a Nonetity like you, with your overwise, kindly project a five words economic model that can turn Nigeria around . Am waiting for your wise reply . Mr Wise.

Bro stop capping bullsh!t!!

Re-denomination is never the answer, re-denomination is like a very ugly lady making up, deep down, the lady worwor be say she worwor,
Nigeria economy can't be fixed with all these textbook trial and error policies, for naira can only rise , if Nigeria becomes an exporting economy, favourable government policies that will encourage local producers, attracting more international companies to do business in Nigeria, reducing our debt profile and supporting industrialization.
Any shortcuts policies will be counterproductive.

vowiski:


There are tons of professors that have made mistakes in life ..

To based your life existence and wisdom on a title is the climax of foolishness ..

Why do you think curriculum are changed ?

Because old syllabus will fail the test of time if they are not reviewed..

It’s the same reason you press update on our phone to get new upgrade..

Continue living off a man who is failing in Anambra , Just because he Carries the title professor.

Mr Crustacean. Despite the opportunity to at least forward your own model , your empty barrel deliver little to desire and expectedly warranted from the lowest of species you belong to. Next time argue with your brain not emotions, if you disagree with a line of thought be civil to expound a better alternative rather than salivates to discredit idealism.

okeysoninv:
that's the only way definitely

^^^
The main benefit of redenomination as you have described it - is psychological.

Let's assume as you said that the Naira reaches the 1000 to 1 mark against the US dollar. Your recommendation is to remove a zero? Remove a zero from where? Off the 1000 Naira note (to make it a 100 Naira note)? Or... remove it from a floating exchange rate? So...if today, MTN Nigeria wants to repatriate its profit of lets say 1000 Naira, you'll give them just 10 cents (because of redenomination) instead of a dollar and tell them to go away?

It doesn't work that way.

okeysoninv:
stop bringing old news here. Cedi is stable than naira . 1usd is c11.2

January to October last year is old news?
When did Ghana redenomimate their currency?
Do you even know what that means?
That 11cedis is in actual value 1100cedis. It ends up becoming a case of robbing people of the value of the money in their accounts. I'm sure you're looking forward to that as an investor

imbless:

Bro stop capping bullsh!t!!

Re-denomination is never the answer, re-denomination is like a very ugly lady making up, deep down, the lady worwor be say she worwor,
Nigeria economy can't be fixed with all these textbook trial and error policies, for naira can only rise , if Nigeria becomes an exporting economy, favourable government policies that will encourage local producers, attracting more international companies to do business in Nigeria, reducing our debt profile and supporting industrialization.
Any shortcuts policies will be counterproductive.

Hmmmm. Nice one.

adecz:




Go to Niger Republic and ask them

You are asking for a coup...

If DSS tracks you and arrests you, na you know o.

Don't think you can hide behind your phone...

You go 'esplain tire'

A serious govt keeps making moves against negativity and that's what the Tinubus govt is doing.
I appreciate it, keep trying and failing, keep tasking the CBN, they can do better.
We must get there by the grace of God.

Fujiyama:


^^^
The main benefit of decimalization as you have described it is psychological.

Let's assume as you said that the Naira reaches the 1000 to 1 mark against the US dollar. Your recommendation is to remove a zero? Remove a zero from where? Off the 1000 Naira note (to make it a 100 Naira note)? Or remove it from a floating exchange rate? So...if today, an MTN wants to repatriate its profit of lets say 1000 Naira, you'll just give them 10 cents (because of decimalization) instead of a dollar and tell them to go away?

It doesn't work that way.

Dude knows next to nothing.
Go and ask Ghanaians whether they are better off before the redenomination or after.
Instead of growing our economy to become productive and working on areas where we have economic comparative advantage, our politicians are papering over the cracks. Maybe because they know they are the biggest culprits.
News just made fp about Dangote's illegal activities. None of the so- called batified is calling on their god to investigate and bring him to account if established. Instead they are looking for miracle

BennyDGreat:


Lool it doesn't work that way. If you like redoniminate 1dollar to 50 kobo....if you don't address the root cause(s) of our naira instability, the redenomination will only make things worse

Say no More, I agree with you.

adecz:




Go to Niger Republic and ask them

Abi

And Niger republic has turn into europe

Emir8:

The lowest performing currency in Africa is Ghanaian Cedis. Do your research before talking any how. Inflation in Ghana is worse than Nigeria. Many traders in Ghana only accept dollars for payment of goods and services. The redenomination in Ghana makes everything worse there.

I followed the implementation of that policy by Ghana, at that time the Ghana cedi was far better than Nigeria naira, it worked for Ghana, just that, there was no follow up to strengthen the economy. Ghana economic problem was not as a result of that policy.

Nigeria needs an inflation targeting policy, inflation targeting is aimed at setting a particular inflation rate for the economy and work with that, this will check continues increase in prices in the economy.

What this policy is saying is that some higher denominations will have to go, this will help fight inflation, but like I said, it is not the ultimate solution.

starstaz:


Mr Crustacean. Despite the opportunity to at least forward your own model , your empty barrel deliver little to desire and expectedly warranted from the lowest of species you belong to. Next time argue with your brain not emotions, if you disagree with a line of thought be civil to expound a better alternative rather than salivates to discredit idealism.

With all the gramma , you made little sense.

This is a pubic forum , not an English round table discussion ..

okeysoninv:
Absolutely, there is no way we can survive with out redenomination of naira. Once naira close the maximum threshold of #1000 per a dollar we can remove a zero . Making 100 naira equal to $1. As of 2013 rate.

this sound interesting but is it feasible?

okeysoninv:
atleast Ghana cedis is now stable. So ur jargons don't hold water, many nations has redominated there currency including Zimbabwe and Venezuela. And it worked for them. Not everything u guys will be criticizing. Many Nigeria workers are earning less than 20k since 2014 without correspondent increase in salary.

So u think if naira is redominated to like 1 dollar= 100 naira, someone earning 20k will continue to earn 20k.
Chei, so many economic illiterate in this country.
No wonder Tinubu won last yr election.
FYI, someone earning 20k will now earn 2k after decimalisation by removing one zero. Remove two zeros, his salary becomes 200 naira.

HBB1:



You are asking for a coup...

If DSS tracks you and arrests you, na you know o.

Don't think you can hide behind your phone...

You go 'esplain tire'

👉Na you take your mouth call coup.

Na you go do the explanation 🗣️

Some very serious but hilarious comments here. You guys are not pulling any punches @ all

Kukutente23:

Dude knows next to nothing.
Go and ask Ghanaians whether they are better off before the redenomination or after.
Instead of growing our economy to become productive and working on areas where we have economic comparative advantage, our politicians are papering over the cracks. Maybe because they know they are the biggest culprits.
News just made fp about Dangote's illegal activities. None of the so- called batified is calling on their god to investigate and bring him to account if established. Instead they are looking for miracle

^^^
I actually meant to write 're-denomination', not decimalisation.

The powers that be are not even interested in trying. Public sector reform is urgently needed but this administration will not do it. And why should they? They know Nigerians will vote them in regardless, so why should they bother to actually govern properly?

The 120 strong vehicle convoys (fueled by government orders) will continue.

successmatters:
Redenomination ko, mumunification ni

They want to copy what Soludo suggested over 15 years ago today, copy and paste trial and error people.

When illiterates that forged certificate after damaging their brains with hard drugs are making policies

E go enter all una body for this country one after the other.

Racoon:
The is the effects of overhyping a so called first class heroin drug baron criminal graduate of accountancy( who does not want his academic records displayed for public scrutiny) that was supposed to be a book keeper, but was garbbed in borrowed robes then criminally foist on a nation.

Now he is running a trial and error government in a country where the economic value of the dollar is abysmally useless, more that 90% of the populace are living below a dollar daily, multi-dimentional poverty everywhere, double-digits galloping inflation with concommittant forex scarcity.

No plans to encourage local production and enhanced export to balance out the trade deficits. Foreign mulit-conglomerate companies are folding up due to constricting economic realities. Welcome to balabloo-blu-bulava economics. Nigerians brace for impact.

BITTER HATEFUL IPOB evrywhwre

okeysoninv:
Absolutely, there is no way we can survive with out redenomination of naira. Once naira close the maximum threshold of #1000 per a dollar we can remove a zero . Making 100 naira equal to $1. As of 2013 rate.

So if you have 1,000,000 in your bank account so it will be 100,000?

Lol.

Redemominatuin or removing zeroes DOES not WORK.

If it worked for Ghana, Ghana would have been ultraadvanced by now.

It is lipstick on a pig economics from APC. And the 🐖 is still UGLY!

successmatters:
Redenomination ko, mumunification ni

They want to copy what Soludo suggested over 15 years ago today, copy and paste trial and error people.

When illiterates that forged certificate after damaging their brains with hard drugs are making policies

E go enter all una body for this country one after the other.

Don't mind them. In life, don't criticise those in authority if you don't hold the magic wand. There was no unprintable names tinubu and the apc caucus didn't call obj and Jonathan when in government, sponsoring various protests nationwide as if they had a better idea.

Under the apc's watch, Nigerians were murdered in thousands yet, no single useful solution from them, our military lost their lives in hundreds too.

Between 2015 and now, naira had been so battered that it increased from 250 naira to 980 naira to a dollar in rates, what they said they'd stabilise and almost bring to same rate as dollar before they took office. They said Nigeria would be developed like dubai and gullible supporters swallowed their lies hook,lins and sinker.

They said subsidy was a scam, that it never existed yet they claimed to have paid a huge sum in subsidy. They increased pump price multiple times and told us to bear with them.

Our economy had suffered so much that they too don't seem to have a solution to it. They've exhausted their lying buckets. No more lies to tell Nigerians. Now, it's a trial and error regime.

Nigeria has always been an import-dependent nation since the return of democracy yet, our economy has been well managed by robust economic teams. Crude was sold for 35 usd a barrel when obj was in office yet, naira was as very strong. Our foreign reserve was well built up. I exchanged 1,000 naira for 23,000 ce fa multiple times. Now , cefa has overtaken naira. Our leaders don't seem to know the implications of the worthless naira. The masses would suffer the consequences the most, via inflation.

If they tell you the reason for the fall of naira was because we're an import dependent nation, tell them we've always been, and naira hasn't been this useless. There are some great countries, who are import dependent and their economy fares well.

Has anyone wondered why crude price and export have improved for some time now and this never reflected on the value of naira and general economic condition? The reason is simple. Massive corruption, mismanagement of the economy and borrowings to execute elephant projects are among the causes. Some regions don't need the kind of rail system they're borrowing money for. The south-north railroad would have boosted our revenues and the fed govt would have been able to replay those loans in a shorter time. See just one accountant general stealing over 100bn..maybe he was exposed hecause he didn't settle some people around him. There are so many of his likes, who's yansh will never be opened till they die. There are former governors who borrowed from the foreign land and within, but failed to pay back and shifted the burden on their successors and ran for senate to enable them keep covering up those loans which they've embezzled while in office. some bills will never be allowed to fly , as long as they're in NA cos it will lead them to jail.

The solution to the Nigeria's problem is revolution, which we're aftaid of. The poor had been oppressed for too long. I always shake my head each time I see people on nairaland attacking each other's tribes,.instead of coming together and seeking a means of moving Nigeria forward and taking over what belongs to them...the country. They'd keep throwing tantrums until one day when they'd watch a mirror and see grey hair on their heads. That's when they'd realise how short this life is and how much their so called leaders have mortgaged their entire lives. Then, it would have been too late to act.

Who wanted to travel out in the 70s/80s and be working under the biting cold? See people japaing in droves. Who caused it? Not God who has made everything available for us but the so-called leaders whom you and I are defending. They've succeeded in sending you away from your land which you're meant to develop and flourish in, but you're not realising this. I hope people would shun ethnic sentiments and tackle the Nigerian problems headon. Even those living abroad are suffering and smiling. There's no place like home. I have a thousand proofs

dre11:
• Economic team moves to table plan before President –Source

• It’s ill-timed, doesn’t address problem of rising inflation or depreciation of currency –Prof Uwaleke

• Only fresh injection of FX, extra revenues can check Naira’s fall –Idakolo



https://newtelegraphng.com/fg-mulls-redenomination-option-to-stabilise-naira/

Policy summersault

Try this today
Try another one tomorrow

They don't know what they are doing

With all the criticizm of Buhari
It seems he Sabi Economy pass Tinubu and his people


Anyway let me watch them keenly

starstaz:
Only option now. I wlcm it with all my heart.

Imagine someone with 1000 USD in Nashville/ turning Millionaire in Zungeru due to Mal parity. If the west can manipulate us to turn our old currency to yoyo, we too must be wise to manipulate it back to the 1970s era where 1Usd = 60k or N 0.60

.

Pls kindly explain more...

okeysoninv:
atleast Ghana cedis is now stable. So ur jargons don't hold water, many nations has redominated there currency including Zimbabwe and Venezuela. And it worked for them. Not everything u guys will be criticizing. Many Nigeria workers are earning less than 20k since 2014 without correspondent increase in salary.

Ghana is about to be bailed out by IMF.

Zimbabwe? That is using US dollars as their currency?

Even Venezuela, their currency is useless

Omo, if you want strong currency, you need to do much more. Removing zeors is just cosmetic.

Lol, and people think I support APC. Lol. APC with zero ideas.

successmatters:
Redenomination ko, mumunification ni

They want to copy what Soludo suggested over 15 years ago today, copy and paste trial and error people.

When illiterates that forged certificate after damaging their brains with hard drugs are making policies

E go enter all una body for this country one after the other.

There's nothing wrong copying others. It should even be respected as they are putting the interest of the country above theirs.

This isn't the best time. It should only be done after the Naira has been stabilized. Also, there's the issue of the Naira redesign to reckon with.

How will the redenomination will Naira? They even have a case study in Ghana to show redenomination is useless. Don't be deceived, Ghana currency is worst than Naira. Redenomination is akin to your house having a foundation problem but you choose to adjust the roof hoping the house will not collapse. Redenomination will cause inflation. Instead to boost local manufacturing and boost export.

Ok but what did that fix? Nothing and you can look at Ghana who did same in the past are back from where they started from. Re-denomination of Naira does not affect purchasing power of average Nigerians but government lose money changing the design of Naira and confusion that comes with it.

okeysoninv:
Absolutely, there is no way we can survive with out redenomination of naira. Once naira close the maximum threshold of #1000 per a dollar we can remove a zero . Making 100 naira equal to $1. As of 2013 rate.

dre11:
• Economic team moves to table plan before President –Source

• It’s ill-timed, doesn’t address problem of rising inflation or depreciation of currency –Prof Uwaleke

• Only fresh injection of FX, extra revenues can check Naira’s fall –Idakolo



https://newtelegraphng.com/fg-mulls-redenomination-option-to-stabilise-naira/

Use the dollar certificates option instead. Second, find ways to encourage the use of domiciliary accounts instead of some people buying and saving largely in the fickle cryptos such as UDST which are not backed by long-term fundamentals and transparency as can be seen from the investigations carried out on the owners by the
U.S. regulatory authorities.

When things go south, folks lose all their so-called crypto investments. Better to save in fiat and buy gold as a store of value.