Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes - Business (2)

Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes - Business (2) - Nairaland

Nairaland Forum › Nairaland General › Business › Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes (12849 Views)

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Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by Openyamind111(m): 7:34am On Jul 22

Better CBN governor, Emefiele would have prefer to print more of the lower denominationsNaira Notes with huge amount of money saying he’s trying to put Tinubu on check 😂

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by maivd: 7:43am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

Very dull submission, so when 100 and 200 naira depreciate, we just follow your backward logic and phase them out and use 500 and 1000 naira notes.

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by tuoyoojo(m): 7:43am On Jul 22

Is it not shame that we have come to the point where we are having this conversation

Inflation has eaten so deep that the lower denomination has become rather useless

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by Omalicious1: 7:45am On Jul 22

adenigga:
Source: https://dailypost.ng/2026/07/21/cbn-hasnt-said-otherwise-cardoso-on-validity-of-n50-n100-other-lower-naira-notes

But Sir, what can 50, 20, 10, and even 5 naira buy in this economy that the FG is bragging that they're doing really well?

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by DeltaBachelor(m): 7:45am On Jul 22

Even if there is validity, there is no usability as a result of the currency losing value

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by Antoeni(m): 7:45am On Jul 22

It's Only in North That N5, N10, N20, N50, is Valued And Used

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by 9Nj1: 7:46am On Jul 22

Go to Benin city ,the 5,10 & 20naira are still in use.

The low denomination currencies are the drivers of the economy.. inflation stops when it's. massively in use.

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by Kaa4(m): 7:50am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

. The best thing is just to redominate the currency.

Bring the value back to $1 = 1NGN

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by Dghold: 7:52am On Jul 22

adenigga:
Source: https://dailypost.ng/2026/07/21/cbn-hasnt-said-otherwise-cardoso-on-validity-of-n50-n100-other-lower-naira-notes

Aside North, what can #5 buy in the weat and Eastern part of Nigeria

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by jojothaiv(m): 7:53am On Jul 22

Urgent1Million:
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by prinsam30: 7:56am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

So what Ur practically saying is that if I buy akara and kulikuli of 300 naira and I give the seller 500 naira make I no collect my 200 naira change abi huh

U try clap for ursef

1 Like

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by tonididdy(m): 8:03am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

Oga nor be to come here dey speak big gramma make you a smart person.
You nor sabe the economic implications of "your phasing out" grama
E go mean say the cheapest thing for market go be n200
Btw 100n market still exist

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by Irony1: 8:06am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

Because your economy has gone down which has impacted the value of the naira. There was a time in the early 90s when with coins you can buy things.

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by wyqay: 8:07am On Jul 22

The major cause that lead to demand and supply forces, of shortage of lower denomination of naira in circulation is the fall in their purchasing power. That what government should tackle.

They can no longer buy anything in the market.

It has no value again, even children throw them around in the house concisely because they are no useless

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by hegelian: 8:10am On Jul 22

adenigga:
Source: https://dailypost.ng/2026/07/21/cbn-hasnt-said-otherwise-cardoso-on-validity-of-n50-n100-other-lower-naira-notes

any president serious with reducing corruption, increasing transparency and want to put the country back on traack need to make 200naira the highest denomination.. do this and see corruption reduce by over 90% and corruption tracking by over 300%...let me see how anyone is gonna steal 1billion naira in cash and let me see how vote buying will be possible with such...one of the greatest disservice to the country is higher denomination

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Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by anonimi: 8:16am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

You have spoken well on how higher denomination notes will soon need to be phased out if we continue with these worst rogue politicians of All Promises Cancelled, APC.

Can you imagine how much subsidy Buhari and the master strategist of A-looter Propaganda Conmen, APC have forced us to pay on each litre of petrol since 2015, because of the massive corruption in their oil sector? It is terrible. More than terrible. undecided

anonimi:
Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by ariesbull: 8:18am On Jul 22

There is nothing to speak about ... Inflation has eaten it... What can you buy with ₦20 or ₦50

Amazing one

1 Like

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by anonimi: 8:20am On Jul 22

hegelian:
any president serious with reducing corruption, increasing transparency and want to put the country back on traack need to make 200naira the highest denomination.. do this and see corruption reduce by over 90% and corruption tracking by over 300%...let me see how anyone is gonna steal 1billion naira in cash and let me see how vote buying will be possible with such...one of the greatest disservice to the country is higher denomination

There are many ways of stealing money without involving cash.

Was there widespread corruption before mid-1980s when civil servants remuneration was not too far from the total package of political office holders, AND there was free education for all children in quality public schools with adequate number of professional teachers, as well as reliable public water supply and other basic services and utilities?

If you want corruption to reduce, do you now know what you should advocate for huh

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Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by anonimi: 8:22am On Jul 22

ariesbull:
There is nothing to speak about ... Inflation has eaten it... What can you buy with ₦20 or ₦50

Amazing one

Is that because APC's Tinubu and Buhari failed to do what they promised, rather they wrecked the prosperity, peace, security with cheap dollars, cheap petrol, low debt, low unemployment etc that PDP handed over to them in 2015 huh

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by 9jajoseph: 8:29am On Jul 22

Legal you said. How many market women still take 50 naira?

The last time I brought Egg of 300 naira

I gave woman 200 note and five piece of 20 naira. Which she rejected the five piece of 20 naira

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by COMPAQ(m): 8:36am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

Ideally we should have a N5000 and N10,000 note.

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by runningriot: 8:45am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

Spot on... May God bless you with this apt analysis!

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by nairavsdollars(f): 8:53am On Jul 22

Worst CBN governor ever

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by czarmide(m): 9:00am On Jul 22

You are the only reasonable person in comment section
.Majority doesn't know factors that drive inflation and the role the lower denominations play in the economy

NairaMaster1:
I can see that you're a salary earner. Ask the people in retail business they will tell you how important they are.

They are one of the major drivers of inflation.

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by sterlingD(m): 9:04am On Jul 22

NairaMaster1:
I can see that you're a salary earner. Ask the people in retail business they will tell you how important they are.

They are one of the major drivers of inflation.

I was going to say this for example those trading in recharge card business who buy recharge at wholesale for retailing who buy with cash it is used at the point of purchase for making and giving balance of change

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by Emeka71(m): 9:36am On Jul 22

Urgent1Million:
The cost of printing the lower denominations viz-a-viz the value of the notes themselves makes no economic sense.
After all, those notes can't even afford anything in the market.
They should just phase them out and let us continue using the higher denominations.
Even 100 and 200 naira will soon join their ancestors unless a responsible government with better policies takes over.

Don't worry because your salary shall be paid full in cash using N10 notes bundle.

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by GeneralOuki: 9:40am On Jul 22

Image123:
Is your salary up to two thousand 50naira notes. All these students that don't learn.

incoherent none sense

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by ufotunang: 9:51am On Jul 22

bewla:
What can the 5 naira buy that's the question

.. even 50 naira cannot buy anything
.it's a pity

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by ufotunang: 9:52am On Jul 22

The incompetent Tinubu has destroyed the economy and country and made the naira to be useless.. valueless..it's a pity

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by VeeVeeMyLuv(f): 9:59am On Jul 22

COMPAQ:
Ideally we should have a N5000 and N10,000 note.

And minimum wage N500, 000

Nigerians sha.

Somebody in 2023 removed subsidy and by so doing jacked up the price of petrol by over 1000% just because he felt subsidy theifs are the only entities benefiting from the subsidies, since then prices of other goods and services have continued to jump, soar , fly away! Biscuits that used to be N5 now N200 .Yet Nigerians are still looking for who caused the problems and hardships huh

1 Like

Re: Cardoso Speaks On Validity Of ₦50, ₦100, Other Lower Naira Notes by uche393: 10:01am On Jul 22

They should remove higher notes or go cashless

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