₦airaland Forum

SirMichael1:
It's double zeros that was removed/hidden (00), not triple zeros.

oga..how did they remove the zeroes na....1$= 5.8 c, while 1$=450 n.......this is common sense na...

SirMichael1:
If we remove the zeros, does it change the fact that a bag of rice that cost 30,000 will now cost 3 naira? Isn't it the same?

It would be better joo

30000=3naira
5000=0.5naira(50kobo)


At least we will revert to our former naira and kobo decades

Congratulations to her...

WILLuKPquiet:
It's not as if their money is stronger than Naira. It was one of the most useless money in Africa. All their Central Bank and government did was to strike out some zeros off the money to make it look stronger. But the value remains the same

Nigeria wanted to do same but a lot of people opposed it.

so what you are saying now is that if i take one dollar to ghana am getting 58,000 ghana cedis?

Legalcriminal:
15k cedis = 1 million Naira chaii
No wonder dem dey like to flex muscle on Nigerians.

Our life will never be useless IJN insha Allah

don't be decieved.. 15k cedis does not have value.
Judging with 15k cedis = 1mill naira

What 15k cedis can get you Ghana, 950k can get you in Nigeria..
Naira has more value than cedis. They only devalued their currency(removed 2 to 3 zeros)

OlawaleBammie:
It would be better joo

30000=3naira
5000=0.5naira(50kobo)


At least we will revert to our former naira and kobo decades

Keep dreaming, u deh use naija get hope?

LINTUNE:
oga..how did they remove the zeroes na....1$= 5.8 c, while 1$=450 n.......this is common sense na...

what it means is that 1$ = 580naira in Ghana

1$ = 450naira in Nigeria.

What you would buy for 100naira in nigeria will cost you 130/140naira in Ghana.

Convert 130naira to cedis, it will give you 1.93cedis in Ghana.

Adding the double zeros that was removed by thier cbn back then, a bottle of coke would have been 1930cedis..lol.

Dont be decieve. Naira has more value than cedis by far.

LINTUNE:
pls, explain better, I don't understand..

Okay.

So Ghana cedis was rising very high, their currency was losing value. It got so bad that a 100 naira here would be 15,000 cedis in ghana. This meant that there was so much paper currency in circulation with no value at all.

The centre bank of ghana (or the head of banks there) decided to reduce the circulation of hard currency. It was a case where you didn't have to hold a bundle of 15,000 cedis with no value whatsover to holding a note of 15 cedis. It was agreed that 000 should be removed and although it is still the equivalent, it helped reduce the so many hard currency but the value of goods were still the same, likewise their monthly salary.

So if you're paid 1,500,000 it is became 1,500 cedis and which is equivalent to 100,000 naira. Not many people in Ghana can boast of earning 1,500 cedis monthly. A bag of rice might even cost 350 cedis there, so don't think their currency has value.

Legalcriminal:
15k cedis = 1 million Naira chaii

I think say na only me see am. Am shocked like buhari

OlawaleBammie:
It would be better joo

30000=3naira
5000=0.5naira(50kobo)


At least we will revert to our former naira and kobo decades

It doesn't change your salary and the cost of bag of rice. Even the conversion rate will not change.

SirMichael1:
Okay.

So Ghana cedis was rising very high, their currency was losing value. It got so bad that a 100 naira here would be 15,000 cedis in ghana. This meant that there was so much paper currency in circulation with no value at all.

The centre bank of ghana (or the head of banks there) decided to reduce the circulation of hard currency. It was a case where you didn't have to hold a bundle of 15,000 cedis with no value whatsover to holding a note of 15 cedis. It was agreed that 000 should be removed and although it is still the equivalent, it helped reduce the so many hard currency but the value of goods were still the same, likewise their monthly salary.

So if you're paid 1,500,000 it is became 1,500 cedis and which is equivalent to 100,000 naira. Not many people in Ghana can boast of earning 1,500 cedis monthly. A bag of rice might even cost 350 cedis there, so don't think their currency has value.

ok na.. thanks..

Lol an average Ghanaian earns more than 15k naira a month (at least double of that )and don’t forget things are extremely expensive here

brandsoncharlie:
How many Ghanaian do you think can afford 15k cedis.
15k cedis isn't same as 15k naira.
Naira is more valuable than the cedis.

15,000 GH Cedis 1m NGN naira?


and some foools are still praising and defending Buhari

Lol, no cause for alarm. They removed 00 zeros from their currency. That's billions in their old currency. I have been living in Ghana for 10years.

JoinSeeMyFather:
Did I just hear 15,000 Cedis an equivalent to One Million Naira? Omo na wa ooooo.

Legalcriminal:
15k cedis = 1 million Naira chaii
No wonder dem dey like to flex muscle on Nigerians.

Our life will never be useless IJN insha Allah

The value of naira to cedi is higher. 15,000cedis may be equal to 1000000naira on exchange rate, buh on commodity value, if u buy an LG TV with that one million naira(15000cedis) in Nigeria, when u move over to Ghana, before u get same model of TV in Ghana, u must have spent 1.5 million naira for same commodity. I hope the economists in the house will understand me and explain it in right economic terms.

cobby14:
Lol an average Ghanaian earns more than 15k naira a month (at least double of that )and don’t forget things are extremely expensive here

Prove it.

The best tactic so far still remains earning in Ghana and come home to spend. Dont spend in Ghans cuz standard of living is too high and stuffs too expensive



Ghana becoming the new Yankee lol

Beautiful nengi a girl with a good heart. I don't know the naira is now so useless like this?

I love you baby girl!!!

That’s facts

brandsoncharlie:
Prove it.

JoinSeeMyFather:
Did I just hear 15,000 Cedis an equivalent to One Million Naira? Omo na wa ooooo.

I do not believe it joor

cobby14:
That’s facts

Fact of lies.