₦airaland Forum

billynoni:
Tii....... nah

Lana1:
So he's supposed to know everything but he doesn't know Engineering??

prestige2013:
Take note, its Mr not Mr., there is no need putting (.) after the abbreviation since the abbreviation ends with same letter as the word itself.

Mr - Mister not Mr.
Dr - Doctor not Dr.
Engr - Engineer not Engr.

Add this to today's lesson.

Minemrys:

seriously, right now, LOT carries the fun of the arrowverse. Thats my opini0n though. As for Rip being able to command gideon, look at it this way. I own a laptop, i sold it to you bt in it are files or folders i passworded and hid from you b4 selling it. Can't i log on to those files any time i borrow the laptop?

obonujoker:
How is it possible that Rip Hunter still has administrative control over the ship, and can still delete files... na wa o

profstar:
Today 23rd of October, I uncover the master plan of DeVoe 'the thinker' (maybe I should be the one to be called the thinker )

Now what is the plan ?
Very simple,
He doesn't desire to kill Barry nor does he desire to steal his speed (like RF & Zoom),

He simply want to "possess" Barry, yeah, you heard me, more like transferring his own soul and brain into Barry's body because of Barry's body regenerational ability which allows him to cope with the friction of running faster than light's speed, so definitely Barry's body will also be able to cope with the parasitic nature of DeVoe's brain,

So he will in turn become both the fastest man and the fastest mind in the WHOLE OF THE MULTI-VERSE!

That is his plan A, meanwhile he has plan B to Z

Plan E is Wally West ( don't ask why I jumped planB-D )

Plan Y is to bring back Reverse Flash, by the way.
Plan Z is too scary, I don't want to talk about it


The real thinker is here, call me Profstar

psalmiel:
I've never liked this Freeze of a thing but from my point of view, this movie is truly overrated and I was so disappointed the day I watched it cos it wasn't up to my expectations with all the hype. But to be candid, the black guys tried cos it's not easy.

The end of discussion is whether the movie is overrated or not, they've raked in their millions of dollars and still raking in...

9. If you have a beard, shave it all up and bring back that strange/seemingly awful look.

Ishilove:
I am the youngest in my section yet I am their head, but that doesn't stop me from putting them in their place when it is time. Respect is mutual so give them their respect as your junior colleagues but know where to draw the line. I too thought I wouldn't be able to control them when I initially started because of their age, but overtime I had to harden myself and do the job I am paid to do. You are there to do a job, not make friends or look at anyone's face.

If they fvck up, you will be held accountable, not them so toughen up and do needful otherwise someone else will do it for you.

gamyy:
i am

Cutefine02:
Is it interesting?

omokoladejames:
Like what Ken4Christ said, even if the government stops printing higher denominations, that would not make the naira strong.

What can make the naira strong is if its purchasing power increases. There are more than one factor that increases the purchasing power of a currency but one of the major factors is increase in the productivity level of the country. In simple terms if the productivity level of a country increases, the demand for money will increase thereby causing prices within the country to fall and the purchasing power of the money to increase but this is only valid if the supply of money does not increase.

So even if the government removes 1000 naira from the system but they continue printing 100 naira like say na water, that would not stop the person in the market from charging 15,000 naira from me, it would only mean i would have to carry a lot of 100 naira with me.

But imagine if it becomes alot easier and more profitable to grow rice in Nigeria(by government initiative,technology etc), more people will start growing rice, also if the price of the nylon that they use to package the rice reduces because of increase in nylon manufacturing and also if the cost of transportation of the rice from the farm to the city is reduced because of reduction in fuel cost etc, eventually all this cost reduction will reduce the cost of a bag of rice in the market to lets say 4000 naira. Now if all other production of goods and services increase like this and the government stops printing money like say tomorrow no dey and no one person is given monopoly over any particular industry,then generally the overall price of things will fall, which means you will need less money to buy things. If you dey use 500 naira to buy plate of rice before, because of the general fall in price that 50 naira wey no fit buy you better pomo before go fit buy you full plate now. Its value(Purchasing power) has increased, so you won't even need to carry around 1000 naira in your pocket because it will be too much thereby making the need for 1000 note obsolete.

In terms of the exchange rate of the currency , there are a lot of factors to consider like economic growth,political stability, debt level, interest rate etc. But i believe it all starts with economic growth as i tried to explain earlier because remember our modern currency has no value on its own, its value comes from how people much people trust it's government and its economy. Ghana's currency is better because investors believe ghana's economy is better and alot stabler than ours. If not for the oil and other potentials wey we get, with all the rubbish wey our government dey do since, our currency suppose don worse pass Zimbabwe own by now. But we thank God.

So bros I believe first things first, we need to increase our productivity level to cater for our needs(which will reduce unnecessary excessive importation) and also boost our exports.

Just my opinion but I stand to be corrected

Samleen:
*If government can stop the printing 500 NGN notes and 1,000 NGN notes and officially discontinue its use!

*Reintroduction of Nigeria coins, 50Kobo, 1 NGN and 2 NGN.


1
Welcome, lets get started by examinining the top 10 performing currencies in the world to gain necessary insights before drawing our conclusions.

*.Kuwait Dinar KWD:  (  1 KWD = 1201.9611 NGN  )
Bank notes: 1/4, 1/2, 1, 5, 10, 20 Dinars
Coins: 5, 10, 20, 50, 100, 200 Fils


*.Bahraini Dinar BHD: (  1 BHD = 956.3254 NGN   )
Bank note: BD 1/2, BD 1, BD 5, BD 10, BD 20
Coins: 5, 10, 25, 50, 100 Fils, BD 1/2


*.Omani Rial OMR: (  1 OMR = 936.2906 NGN  )
Bank note: 1/2, 1, 5, 10, 20, 50 Rials
Coin: 50, 10, 20, 50, 100 baisa and rarely used 200 biasa


*.Jordanian Dinar JDD:  (  1 JDD = 507,65070 NGN  )
Bank notes: 1, 5, 10, 20, 50, Dinars
Coins: 1/2, 1, quirsh, 21/2, 5, 10 Piastras


*.British Pound GBP:  (   1 GBP = 504.8154 NGN   )
Bank notes: €5, €10, €20, €50
Coins: 1P, 2P, 5P, 10P, 50P, €1, €2


*.Caymanian Dollar KYD:  (  1 KYD = 432.7622 NGN   )
Bank notes: 1, 5, 10, 25, 50, 100 Dollars
Coin: 1, 5, 10, 25 Cents


*.Euro EUR:  (  1 EUR = 448.2926 NGN  )
Bank notes: €5, €10, €20, €50, €100, €200 and  €500


*.Swiss Franc CHF:  (  1 CHF = 388.1395 NGN  )
Bank note: 10, 20, 50, 100, 200, 1000 francs
Coins: 5, 10 and 20 Rp/cts, 1/2, 1, 2 and 5 Fracs


*.United State Dollar USD: (  1 USD = 360.5000 NGN   )
Bank note: $1, $2, $5, $10, $20, $50, $100
Coins: 1C, 5C, 10C, $1/4, $1/2, $1.




Go back to the list once again and check what's the highest denominations of each currency (and population of users of each currency), You will discover that the top performing currency do not have high face value like we have 500 NGN and 1,000 NGN in Nigeria.

Also, you will notice that the top performing currencies have coins form of currency with denomination of very low face value.

The highest of the denominaton is 1000 Franc followed by 500 EUR. 1000 Franc is not in frequent use and the highest Franc denomination next to it is 200 Frank ( not like 500 NGN as we have here in nigeria ). Also the use of 500 EUR will discontinue this year 2018.

Get a hold on history of exchange rate in Nigerian, you will find out that every introduction of new high denomination currency note has averse advese effect on it.


Why High Denominational Currency Note Is Bad:
1. Increase in prints of currency notes with high face value e.g 1000 NGN makes other lower currency of less important and less usefull. This can gradually lead to upgrade of price of goods and services in market.

2. It makes stealing and loothing of cash easier as larger amount of money value can be packed into a very small space.

Why do CBN currently print more high denominational currency alone? Methink its in a bid to enhance hoarding of cash against the comming 2019 general election.

3. 500 NGN and 1000 NGN are no money for the common man, go to the market and examine what denomination are most in use.

4. It's in a way opposing the cashless policy by the federal government of Nigeria.


What The Wise Nations Did:
1. United State of Ameria used to have $500, $1000, $2000 currency notes until December 14, 1945, when the high denominational bills were last printed and officially discontinued on July 14, 1969 by the Federal Reserve System.

2. Europian Central Bank announced on 4 May, 2016 that it would phase out the 500 Euro notes by the end of 2018.



Other Factors That May Affect The Exchange Rate Of A Currency Include:
1. Ratio of goods/services importation to exportation

2. Availability of currency and number of complying users.

The Illegal illegal printing of currency by the CBN according to as reported by some news media outlets has a long way to desctroy value on our cash.

3. Inflation rate

4. Government debts and federal reserve.

5. Political policies and stability

6. And many more



My Recomendations:
Nigerian government should permanently discontinue and remove 500 NGN and 1,000 NGN currency notes from circulation. Reintroduction of 50 Kobo, 1 NGN and 2 NGN coins should also be done.

A serious government fighting corruption will yield to my advice as abundance of lower denomination currency will discourage looters from hoading and keeping cash in a safe instead of bank.

Caveat emptor:
This writeup is a personal opinion resulting from my many observations. It is not a scholarly work and should not be treated as one. Copy-and-paste bloggers should please reference the link and author of the article.

Nygma:
Can Barry really defeat Clifford??

Wetlink:
Congrats to everyone...
I have study packs for skill and professional level. The time to start preparing is now! Waste no more time.

ABDamola:
In wat course?

thetech:
But the guy could have pleaded not guilty on basis of insanity but is ego is too large. Hope he stays in prison long enough for kidflash to blow

AnonyNymous:
I tell people this a lot but they don't listen. Even after giving examples. You don't here them saying Obama Barack or Trump Donald. Or even Buhari Muhammad. But then. . .someone will be arguing with me that its surname first. I wonder how this 'practice' originated in Nigeria sef. I always go the extra mile to make sure I get my surname written in all caps- or a comma placed before my name (or both).