Zonefree:

What's Ghana doing here?

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

tell them ooo. They just removed the 0000 in the cedi and everyone is shouting. Travel and see the folks there are suffering.

Sapasenator:
3,779.50 Ugandan Shilling = 1 USD as at today.

tommorow they will remove three zeros and say it's now , $1 to 3 shillings like Ghana did, and this ignorant beer parlour economist will jump up and say Ugandan money is stronger than the naira 😜 muwguw

Why is Nigeria the so called giant of Africa so terribly cursed

Zonefree:

What's Ghana doing here?

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

Please try to use your common sense once in a while, this particular indomie noodles cost that much in Ghana abi, have not seen this kinda noodles in the supermarkets have visited in Lagos, so am very sure this noddles will surely cost more in Nigeria, so oga criticise constructively.

helinues:
Na kuku the rain packed both birds and chicken together

Senseless talk.
Gutter reasoning

Laladre1:


Please try to use your common sense once in a while, this particular indomie noodles cost that much in Ghana abi, have not seen this kinda noodles in the supermarkets have visited in Lagos, so am very sure this noddles will surely cost more in Nigeria, so oga criticise constructively.

So, that particular indomie in Ghana comes with chicken and chips?

erico2k2:

People seem to 4get Ghana rounded up their figures in thier currency, three zeros where removed, so 13 CD is actually 13000 CDs

Evidence bin dey but Ghana just hide the evidence

What matters most when it comes to money value is how stable is the currency.

For instance, the Ghanaian Cedi was $1-1 cedi in 2007. It is now 13.89.

Contrast that with the CFA. It is tied like a rock to the Euro since 1999 at €1- 655.597 since 1999.

It has never shifted in value. In addition, inflation rate in the Eurozone has been low, averaging 2.5% between 2007-2020.

Now, imagine you changed €100,000 into the Ghanaian Cedi in 2007. It would now be worth about a seventh of its real value today.

You can see from the above that what counts is stability. Stability is gotten primarily through disciplined monetary policy (Independent central bank) and fiscal policies of the state.

Where the government fails to play its part, an independent central bank will be determined raise interest rates high enough to bring down inflation or inflationary pressures

DonroxyII:
to buy 10naira food is not the problem because if you remove two zeroes from N1000 you shall get N10 but You will still put N1000 effort to make N10 ...

The economics is that N10 would be difficult to Make because that N10 in Real sense is N1000 ....

It's just currency redecimation but the effort(Wahala) is still the same ....

Imagine a laborer work from 8am to 5pm only to receive N20 at the end of the day ... then you use N10 Chop... wetin remain ....

The best economy is where Labour are paid More while Cost of Production is Reduced ....

By your economics, You want to be making N1000 but paying the food seller N10 ... So How do The Food seller achieve Your Achievements Abi He come dis life come play or to be watching Uche Face ...

Oga Double Ya Hustle ooo !

Lol 😆 boss na wetin some explain I dey try break down

2Radii:
Lol, it will still amount to same thing, make una dey think about the aftermath of every decision abeg.

Ok, if some zeros are removed, then image u earning 100naira a month but telling u to buy a deep freezer at 40naira, remaining 60naira in ur hand..but before, u re earning 1m naira in a month and deep freezer was 400k, remaining 600k with you...now tell me what is the difference??

Shebi na our brother say make we devalue abi make we remove the zeros...

Beverlyjean:


Make I illegal and the politicians will not have any means to move money thru FX or crypto .... Nigeria is a state that's peculiar with get quick syndrome

Since after independence, naira has been on a steady decline, what is the cause?? Crypto only started becoming popular from 2017, what means were politicians using to launder money before now?? Has those means been blocked? Patriotism is what boost a nations economy which in return can strengthen our currency. You made mention of Libya, I have a friend in Libya, how many Libya politicians do u think send their children abroad to school? How many Libya politicians deposit money in foreign accounts abroad? What is the import level in Libya? No nation can ever have a solid currency without a stable economy. Economy is the backup of a nation currency. When u people are ready to face the truth, the nation will progress. For now let's keep deceiving ourselves

Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/

helinues:
Na kuku the rain packed both birds and chicken together

Naso o.

Naija remains the Giant of Africa.

Country hard- country hard, this morning i don chop a big bowl of home made agidi jollof with 2boiled eggs.

Later, i go nack semo with Egusi and end the day with some bottles of 33 Export Lager with a plate of Catfish Peppersoup...
All for 5k?!

With my 1.5 AC firing on Cheap electric bill, Cheapest petrol in Africa to fuel my Honda.

Where else in Africa would i be?!

Nigeria will be great again.

jayce232:

Since after independence, naira has been on a steady decline, what is the cause?? Crypto only started becoming popular from 2017, what means were politicians using to launder money before now?? Has those means been blocked? Patriotism is what boost a nations economy which in return can strengthen our currency. You made mention of Libya, I have a friend in Libya, how many Libya politicians do u think send their children abroad to school? How many Libya politicians deposit money in foreign accounts abroad? What is the import level in Libya? No nation can ever have a solid currency without a stable economy. Economy is the backup of a nation currency. When u people are ready to face the truth, the nation will progress. For now let's keep deceiving ourselves

Nigerians are not patriotic.... they see money as God bcis Nigerians worship money and will only respect a person with funds .... corruption over the decades made the naira loose value ... but check out the decline since 2017 after the introduction of crypto..... it dropped from 360 to 2000 within 7yrs .... that's almost 500% increment , crypto is not really regulated like the banks .... crypto companies don't even check out users , criminals prefer crypto cos government can't freeze or trace it ... so it has increased the level of corruption cos they know stolen money will be hard to trace .... crypto companies are criminals as well....

Efuaye:
In early ’80s Naira was equal to a dollar but misgovernance by successive governments have left us where we are now!
Nigeria, now a country of IDPs and palliatives.

grant and borrow, plus intervention fund from world bank

Beverlyjean:


Nigerians are not patriotic.... they see money as God bcis Nigerians worship money and will only respect a person with funds .... corruption over the decades made the naira loose value ... but check out the decline since 2017 after the introduction of crypto..... it dropped from 360 to 2000 within 7yrs .... that's almost 500% increment , crypto is not really regulated like the banks .... crypto companies don't even check out users , criminals prefer crypto cos government can't freeze or trace it ... so it has increased the level of corruption cos they know stolen money will be hard to trace .... crypto companies are criminals as well....

This is where u get it wrong! The drastic decline is not due to cryptto but bad governance!!! Do u have an idea of how much the previous govt borrowed since 2015 that was not accounted for?? They are still borrowing till date & these monies are not accounted for? Do u know the negative effects of these borrowing on our economy? You can't compare Jonathan's leadership to buhari govt. When people scream credible leaders should be elected, these are the results. The little time Osinbajo spent in office as president when buhari travelled, we all saw great turn around. I can confidently tell u if Osinbajo was in power things will never get this bad. Even when buhari banned cryptto transaction through banks in previous govt, Osinbajo spoke against it. Like I said, we are very far from progress because we are not ready to face the truth because of religion & tribalism. When we are ready, we will make progress. But I fear if we will ever be ready

Zonefree:

What's Ghana doing here?

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

Abi?

Spending power of the currency in the country is the Koko...

Fake news. Naira is the third best performing currency in africa

grandstar:
What matters most when it comes to money value is how stable is the currency.

For instance, the Ghanian Cedi was $1-1 cedi in 2007. It is now 13.89.

Contrast that with the CFA. It is tied like a rock to the Euro since 1999 at €1- 655.597 since 1999.

It has never shifted in value. In addition, inflation rare in the Eurozone has been low, averaging 2.5% between 2007-2020.

Now, imagine you changed €100,000 into the Ghanian Cedi in 2007. It would now be worth about a seventh of its real value today.

You can see from the above that what counts is stability. Stability is gotten primarily disciplined monetary policy (Independent central bank) and fiscal policies of the state.

Where the government fails to play its part, an independent central will be determined raise interest rates high enough to bring down inflation or inflationary pressures

Trash as usual.
Stability only exists in your head. Some currencies have grown stronger and others weaker. Stability connotes neither of those two natural options. As nations trade with one another, there is bound to be transfer of value from one side to another and that is what brings about strength and weakness of economies, thus reflecting in their currencies. Inflation is just another natural effect primarily caused by demand supply adjustment. For example no demonic interest rate adjustment can completely reverse the effect of grain shortage caused by Ukraine and Russia conflict. Interest rate adjustment effect is minimal and one of the few aspect policy makers can use to de-catalyse inflationary trends.
Your brain is deeply confused with economic data that's beyond it. There is a difference between storing data and processing data for intelligent conclusions that can aid future policies. You are a data store house and nothing more when it comes to economics.

Zonefree:

What's Ghana doing here?

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

Thank you, the report is using face value of currencies to judge them forgetting currencies can be pegged or rebased to allow printing of fewer notes among other things.

I have said this before. Dollars should not be in the hands of people in Nigeria except people who fly in from overseas and they can only exchange it in the bank.
Crypto and BDC are bad for the economy. The govt is fighting crypto alone which is wrong. BDC should also be eradicated but the cabals are the ones doing BDC so they are untouchable. Dollars should only flow through bank accounts and not in cash.

We have an exploding unproductive population which is increasing demands for the dollars. If ten million people in the country buy an Android phone at $100 a phone, that is already one billion dollars toll on the naira. This is why the naira of the 90s is more valuable than it is now. As

Beverlyjean:
Now,a war turn country has is just 4 to a dollar... they don't use the dollar , their citizens don't need or even take it seriously..... the only way we can get it right is to use force by making FX illegal on the streets .... it should only be electronically traded thru the banks ...all crypto should be banned ... anyone found trading crypto or dealing with FX should be arrested immediately... Nigerians that can afford it are buying it up and hoarding it like black market fuel sellers ...

Beverlyjean:


We have corruption laced in our DNA ... Nigerians are inclined into get rich quick syndrome.... 90% of those that source for FX are not using it for essentials... they buy and hoard it thereby creating scarcity.... in turn it makes it expensive..( Demand and supply ). people properties just to buy only in Nigeria..,

hmmm...yeah! Pure truth sis,thank so very much for brushing my brain up. Apc govt is just one disaster of a govt in the history of our country,they are worst than the nigeria civil war! Who will believe some bunch of overgrown old fools can be this useless,wasteful,pointless,heartless,vision-less n gat no great future plan for this country,they breed hates,tribalisms,terrorists,touts n rogues in the country. I am only dissapointed in some nigerians who supported them indirectly (like all this crypto&fx kings n some biz men) n directly (all this touts,party members n blind elite people)to destroy this country. Nothing dey ds lif wey no get end

jayce232:

This is where u get it wrong! The drastic decline is not due to cryptto but bad governance!!! Do u have an idea of how much the previous govt borrowed since 2015 that was not accounted for?? They are still borrowing till date & these monies are not accounted for? Do u know the negative effects of these borrowing on our economy? You can't compare Jonathan's leadership to buhari govt. When people scream credible leaders should be elected, these are the results. The little time Osinbajo spent in office as president when buhari travelled, we all saw great turn around. I can confidently tell u if Osinbajo was in power things will never get this bad. Even when buhari banned cryptto transaction through banks in previous govt, Osinbajo spoke against it. Like I said, we are very far from progress because we are not ready to face the truth because of religion & tribalism. When we are ready, we will make progress. But I fear if we will ever be ready

How do u think they moved the stolen money during buharis government?? Crypto gave them the mind and power to steal without conscience... only 3 people from buharis government stole over 100 billion dollars and it was moved thru crypto ... we are not even talking about the rest ... they borrow money just to steal it away thru crypto , so that it would not be traced or frozen.... as long as there is high demand on Fx , the naira will continue to decline at a rapid rate ...I laff when people say we need to produce ...that would have worked if we had a different mindset ... people will always need FX cos we are not a first world country... investors would not wanna do business here due to the political social and economical factors ... we need hard policies to save the naira... first, make FX and crypto illegal for now ... so that the pressure will reduce , u will see how it will drop to 200 naira in a couple of months cos no one will wanna get into trouble , the hoarders will have to sell off ... sone have been holding on to it for years , as live off currency speculation

helinues:


You called yourself cooldowntemper but you have been provoking others for no sensible, reason trolling them up and down.

Why not start practicing what you are preaching

But you agbados and ronus from townhall have been trolling obidients ever since now... Now una eye don clear and understand the meaning of balablue, blue blue, bulaba. That is the political scientific name of tinubu's govt. Meaning it will be tough, but you people never knew.

Are you currently in Uganda?

Sapasenator:
3,779.50 Ugandan Shilling = 1 USD as at today.

muhammaduyusufu:
In Ghana, a loaf of bread is more expensive than in Nigeria. The spending power or what that currency can get you i.e. value is what matters.

That depends on the economic value of the money in Ghana ... Comparing in dollar rate is not a crime...

Beverlyjean:


How do u think they moved the stolen money during buharis government?? Crypto gave them the mind and power to steal without conscience... only 3 people from buharis government stole over 100 billion dollars and it was moved thru crypto ... we are not even talking about the rest ... they borrow money just to steal it away thru crypto , so that it would not be traced or frozen.... as long as there is high demand on Fx , the naira will continue to decline at a rapid rate ...I laff when people say we need to produce ...that would have worked if we had a different mindset ... people will always need FX cos we are not a first world country... investors would not wanna do business here due to the political social and economical factors ... we need hard policies to save the naira... first, make FX and crypto illegal for now ... so that the pressure will reduce , u will see how it will drop to 200 naira in a couple of months cos no one will wanna get into trouble , the hoarders will have to sell off ... sone have been holding on to it for years , as live off currency speculation

The money Abacha stole that the western country is still returning till date how was the money stolen?? The money former Bayelsan governor stole how was the money stolen? The govt of the day is corrupt that is the fact! They don't need cryptto to launder money in govt!!! It's common sense. Even if cryptto seize today, the leaders will still continue to launder money because they have been doing so. Even the ones that were exposed are not prosecuted, rather are now the chairman of a ruling party. What we are witnessing today are the ripple effects of voting in bad leaders & it will continue this way till we get sense!

CodeTemplar:
Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system.

Why can't Nigeria erase 2 zeros from the naira.

Take Ghana out of that list please. GH Cedis is a redenominated currency in ration of 1:1000

Blackfire:



Reality is now setting in



Very soon CFA will bench naira.



How tinubu convinced zombies to vote for him by just shouting emilokan

You say very soon abi you dey live for moon cfa is far far more than naira

brain54:
I am not surprised the north Africans dominate the list...


Personally, I feel anything after the 3rd on the list is poor.

Libya in spite of how dis-stabilised their economy is due to war seems to be doing well!

Its because they dont borrow and theres checks and balances that helps controls the way the arms of government borrow money from IMF recklessly that will render their currency and economy valueless and they didn't allow too much interference of western government unlike Nigeria.

jayce232:

The money Abacha stole that the western country is still returning till date how was the money stolen?? The money former Bayelsan governor stole how was the money stolen? The govt of the day is corrupt that is the fact! They don't need cryptto to launder money in govt!!! It's common sense. Even if cryptto seize today, the leaders will still continue to launder money because they have been doing so. Even the ones that were exposed are not prosecuted, rather are now the chairman of a ruling party. What we are witnessing today are the ripple effects of voting in bad leaders & it will continue this way till we get sense!

If crypto existed when Abacha was alive , do u think some of that money would have been traced and returned?? Think