₦airaland Forum

SMH

Very soon and in few days to come, Nigeria will become a desired country.

Businesses will flourish, there will be job for all.
The young and old shall prosper.
There will be abundance of food for all.
Peace will be established in every state and every local government.
There will be enough money to go round.
Men of integrity will smile.

Those that dislike Nigeria and constantly berate her will be taken by surprise.

Good morning Nigeria

good morning

.

Like somebody asked above: Are WAEC supervisors, invigilators, examiners, teachers, transporters who will commute the student to their exam venue and food vendors going to put on school uniform too?

The whole concept of IPOB terrorism lack logic and does not make sense to normal people.

You're disturbing the living because of the dead. Even the chimpanzees and gorillas are wiser to keep and protect their own.

If you believe the IPOB terrorist group really love the people of SE, then tell me one, just one of their single positive contribution the development of SE.

They kill Ibos,
They destroy their businesses,
The put Ibos on House Arrest every Monday,
They lock down Ibo businesses on Mondays,
They destroy Igbo people's properties,
They incite hatred and instigate other region against their the SE,
They destroy the once peaceful SE region, making it ineligible destination for investment,
They arm gullible youths and send them on journey of no return,
They are anti-people,
They are against the growth and development of the SE region
They prevent Ibo children from attending schools.

Most supporters of the IPOB terrorist group lack empathy, they will support none state actors to kill others of their tribesmen and destroy other's properties until something evil happen to them also through IPOB. Most parents, brother and sisters of student writing WAEC, used to support the IPOB terrorist until their daughters and son will not be writing WAEC this year 30th May.

You need to visit a psychiatry immediately if you still see this terrorist group as you Heroes or freedom fighters.

The Heroes that we know:
- create viable business environment,
- create free education
- believe in sanctity of life
- e.t.c.


If the same people that kill a medical doctor who is an Ibo man, if the same people that killed staff of the USA embassy in the pictures below are your heroes and freedom fighter, you need to start taking your mental health seriously.


https://www.youtube.com/watch?v=asun7JI_Mm8



https://www.youtube.com/watch?v=9LLR7TjGvXI

You're disturbing the living because of the dead. Even the chimpanzees and gorillas are wiser to keep and protect their own.

If you believe the IPOB terrorist group really love the people of SE, tell me one, just one of their single positive contribution the development of SE.

They kill Ibos,
They destroy their businesses,
The put Ibos on House Arrest every Monday,
They lock down Ibo businesses on Mondays,
They destroy Igbo people's properties,
They incite hatred and instigate other region against their the SE,
They destroy the once peaceful SE region, making it ineligible destination for investment,
They arm gullible youths and send them on journey of no return,
They are anti-people,
They are against the growth and development of the SE region
They prevent Ibo children from attending schools.

Most supporters of the IPOB terrorist group lack empathy, they will support none state actors to kill others of their tribesmen and destroy other's properties until something evil happen to them also through IPOB. Most parents, brother and sisters of student writing WAEC, used to support the IPOB terrorist until their daughters and son will not be writing WAEC this year 30th May.

You need to visit a psychiatry immediately if you still see this terrorist group as you Heroes or freedom fighters.

The Heroes that we know:
- create viable business environment,
- create free education
- believe in sanctity of life
- e.t.c.


If the same people that kill a medical doctor who is an Ibo man, if the same people that killed staff of the USA embassy in the pictures below are your heroes and freedom fighter, you need to start taking your mental health seriously.


https://www.youtube.com/watch?v=asun7JI_Mm8



https://www.youtube.com/watch?v=9LLR7TjGvXI

If we have leaders with working brains, Yoruba religion is enough to bring in billions of dollars annually. The religion is accepted by millions of people all over the world. We can create stories and build monument to support these stories.

Several Ifa and Orisha worshipers from all over the world need something worthwhile to bring them to Nigeria as they like to learn about the origin of their believes.


Even China are creating artificial tourist sites to attract people from all over the world. Olodumare gave us natural reasons why people should visit our country but inferiority complex will not allow us to annex these opportunities.

imagine if the 90billion naira was spent to renovate or create monument site of attractions for these lover of Yoruba religion from all over the world, won't Nigeria be great?

check these videos:


https://www.youtube.com/watch?v=a_BeMOGzISQ



https://www.youtube.com/watch?v=xXrkId_OQy8



https://www.youtube.com/watch?v=Lqwdj5kb_Fw





If you call Yoruba religion idolatory, Abrahamic religion including Islam and Christianity is Idolatory too. Because Holy communion is idolatory, bowing for a stone call Kaaba of the Bedouin tribes is also idolatory. licking of stone at mecca is idolatory, throwing of stone at pilgrimage is idolatory too.

Infact, Illah is what the Arabic call God and not Allah. Allah was one of the gods been worshiped before the invention of Islam. That is why muslims will say something like "la illah illa allahu" meaning Allah is Illah (God). Have you ask yourself why Prophet Mohammed's father who was an idol worshiper and who lived before the invention of islam has Allah in is name Abdullai== Abdu Allah? It is because Allah has been an idol worshiped by idolators before the Prophet received his revelations.

All Abrahamic religion are idolatory, they only package them well and condemn yown heritage as evil, whereas, Nigeria was better in terms of morality, honesty and integrity before they brought the foreign religions.

In peace loving, emotional intelligence, love for neighbor, respect for sanctity of life, we are even better than those who brought those religion with primitive leaders whose morality and characters are highly questionable.

Good one for the Nigerian youths.

This reminds me of the time I lead my undergraduate team to win one Middle East and Africa ICT award like that (out of the five region of the world that participated) when in the University; I could not contain my joy that day the result came. I was jumping up and shouting at the top of my voice uncontrollable.

...Our names are still on Nairaland posted by people.

Illegally putting people on "House Arrest" against their will is a criminal act and an act of terrosm .

House Arrest is even better than what the SE people are enduring because someone who is on House arrest can still go out for their medicals.

Our prayers are with the people of SE, for their liberation for the hand of terrorists and local thugs who will not allow them to live a peaceful life.

franchasofficia:
Listen young men, I am not here to argue with you, I am not here to convince you or to make you believe me, neither am I here to preach to you. Mind you, you have the freedom to insult or attack or criticize or condemn me or what I have said but guess what? It will never change God's ordinance for Nigeria. God have made this decision a long time ago and as usual, humans will never believe and will even give reasons why it should never stand but at the end, God's ordinance will stand and until it is fulfilled, Nigeria will continue to struggle as a nation.



The earlier Nigerians embrace this truth, the better for Nigeria and Nigerians.


So feel free to insult, attack, condemn and give reasons why it is not true, but just pray to be alive in the next 50 years from today and you will remember my words and that will open your eyes to what God can do.

Delusion of grandeur.

You can keep hallucinating, but we here and other normal people see things the way they really are. You and your group can see the world with a colored glass in your hallucinations but we see the world exactly as it is. Your track records speaks loudly. Your Ibo political leaders have never done anything unique or worthy of emulation; They can't even take charge of the security situation of the region.

Your current governors in the SE, are they Hausas or Efik? Why have they not perform the miracle of an Ibo man?

One thing I like about your group is that you use to form ideas in your head and then stand with it as if it is true.

And with the God things, you can only deceive the religious gullibles and your fellow group member.

In your lifetime, and very soonest in days to come, Nigeria will become great and a country to desire, her people will prosper, there will be enough for everybody, businesses will flourish, peace will be established in every corner including the SE and laughter will be on every mouth.

How has Igbo governors liberate the SE. You can't give what you don't have.

Not even a single viable city has been developed by the governors. Are the previous governor and present ones not Ibos?

Good morning Nigeria

X

coming

Successfully educating the public about redenomination is crucial for ensuring a smooth transition and maintaining public confidence. Here are some strategies that governments can employ to effectively communicate and educate the public about redenomination:

Comprehensive Public Awareness Campaigns:

- Multi-Channel Communication: Utilize various communication channels such as television, radio, newspapers, social media, and official government websites to reach a wide audience. Ensure that information is disseminated in multiple languages if necessary.

- Public Service Announcements (PSAs): Develop clear and concise PSAs that explain the redenomination process, its purpose, and its benefits. Broadcast these announcements frequently to ensure widespread awareness.

Clear and Consistent Messaging:

- Simplified Explanations: Use simple and straightforward language to explain the redenomination process. Avoid technical jargon that might confuse the general public.

- Consistency: Ensure that all government agencies and officials provide consistent messages to avoid confusion and misinformation.

Educational Materials:

- Pamphlets and Brochures: Distribute printed materials such as pamphlets and brochures that explain the redenomination process, including visual aids like images of the new currency.

- Infographics and Videos: Create infographics and educational videos that visually explain the redenomination process, the timeline, and how to exchange old currency for new.

Community Engagement:

- Town Hall Meetings and Public Forums: Organize town hall meetings and public forums where government officials can explain the redenomination process, answer questions, and address concerns directly with the public.

Collaboration with Local Leaders: Work with local community leaders, religious leaders, and other influential figures to spread accurate information and educate their communities.

Bank and Business Outreach:

- Training for Bank Staff: Train bank employees to provide accurate information to customers about the redenomination process and how to exchange old currency.

- Partnerships with Businesses: Collaborate with businesses to display informational posters and distribute educational materials to customers. Encourage businesses to hold informational sessions for their employees.

School and University Programs:

- Educational Sessions in Schools: Integrate information about the redenomination process into school curriculums and conduct special educational sessions for students.

- University Workshops: Organize workshops and seminars in universities to educate students and faculty members about the redenomination.

Customer Service Hotlines:

- Dedicated Helplines: Set up dedicated customer service hotlines where people can call to ask questions and receive accurate information about the redenomination process.

- Online FAQs: Create a comprehensive list of frequently asked questions (FAQs) on official government websites, addressing common concerns and providing detailed answers.

Transparency and Regular Updates:

- Regular Press Briefings: Hold regular press briefings to provide updates on the redenomination process, progress, and any changes to the timeline or procedures.

- Transparency: Be transparent about the reasons for redenomination, the expected benefits, and any potential challenges. This builds trust and reduces speculation.

By employing a multi-faceted approach to public education and communication, governments can ensure that the public is well-informed about the redenomination process, understands its purpose and benefits, and is prepared to smoothly transition to the new currency.

United States: Discontinued $500, $1,000, $5,000, and $10,000 banknotes in 1969.

European Union (Eurozone countries): Discontinued the €500 banknote in 2019.

India: Demonetized ₹1,000 and ₹500 banknotes in 2016.

Canada: Discontinued the $1,000 banknote in 2000.

Australia: Discontinued the $1,000 banknote in 1996.

New Zealand: Discontinued the $1,000 banknote in 1999.

Hong Kong: Discontinued the $1,000 banknote in 2019.

South Africa: Discontinued the R1,000 banknote in 2020.

Singapore: Discontinued the $10,000 banknote in 2014.

Switzerland: Discontinued the 1,000 Swiss franc banknote in 2000.

United Kingdom: Discontinued £1,000, £5,000, and £10,000 banknotes in 1945.

Japan: Ongoing proposal to discontinue the ¥10,000 banknote.

South Korea: Ongoing proposal to discontinue the ₩50,000 banknote.

While redenomination can bring about various benefits, it also carries potential disadvantages and side effects, especially if not implemented carefully or accompanied by comprehensive economic reforms. Here are some of the drawbacks:

1. Cost and Administrative Burden: Redenomination involves significant costs associated with printing new currency, updating financial systems, reprogramming software, and educating the public about the changes. The administrative burden can be substantial for governments, businesses, and financial institutions.

2. Confusion and Adjustment Period: Redenomination may initially cause confusion among the public, businesses, and even government agencies as they adapt to the new currency denominations. This adjustment period can disrupt economic activities and transactions.

3. Risk of Inflationary Expectations: If redenomination is perceived as a cosmetic measure without addressing the underlying causes of inflation, it may lead to inflationary expectations among the public. People may anticipate future currency devaluations, leading to hoarding behavior and speculative activities.

4. Loss of Confidence: If redenomination fails to address the root causes of economic instability or if it is seen as a desperate measure by the government, it may erode confidence in the currency and the broader economy, exacerbating financial turmoil.

5. Impact on Contracts and Agreements: Redenomination can create legal and contractual complexities, especially if existing contracts, loans, leases, or financial agreements are denominated in the old currency. Converting these agreements to the new currency may require renegotiation and legal adjustments, leading to disputes and litigation.

6. Psychological Effects on Savings and Wealth: Redenomination can affect people's perceptions of wealth and savings. While it does not change the real value of assets and savings, individuals may feel a sense of loss or confusion if their savings are subject to a change in denomination.

7. Potential for Price Increases: In some cases, businesses may take advantage of redenomination to round up prices or engage in opportunistic pricing behavior, leading to price increases for goods and services, especially if consumers are not vigilant.

8. Temporary Economic Disruptions: Redenomination may cause temporary disruptions in economic activities, particularly in sectors heavily reliant on cash transactions, such as retail and informal markets. These disruptions can have adverse effects on employment, production, and consumer spending.

9. Limited Long-Term Impact: Redenomination alone may not address deeper structural issues in the economy, such as fiscal mismanagement, corruption, or lack of productivity growth. Without comprehensive reforms, the positive effects of redenomination may be short-lived.

10. Risk of Repeated Redenominations: If underlying economic problems persist or worsen, countries may find themselves in a cycle of repeated redenominations, which can further undermine confidence in the currency and the credibility of the government's economic policies.

In summary, while redenomination can offer short-term benefits and address certain economic challenges, its success depends on careful planning, effective communication, and broader economic reforms to ensure long-term stability and confidence in the currency.

Redenomination of a currency can offer several potential benefits, depending on the economic context and the specific circumstances of the country. Here are some of the key benefits:

1. Simplification of Transactions: Redenomination reduces the number of zeros in currency denominations, making everyday transactions simpler and more manageable for consumers and businesses.

2. Enhanced Confidence: Redenomination can instill confidence in the stability of the currency, as it often signals a commitment by the government to control inflation and maintain the value of money.

3. Reduced Transaction Costs: With fewer zeros in currency denominations, there is less need for cumbersome accounting practices, which can reduce transaction costs for businesses and financial institutions.

4. Improved Accounting and Financial Reporting: Redenomination can streamline accounting and financial reporting processes, as it eliminates the need to deal with excessively large numbers, thus reducing the risk of errors.

5. Economic Stability: Redenomination is often accompanied by broader economic reforms aimed at stabilizing the economy, such as fiscal discipline, monetary policy adjustments, and structural reforms, which contribute to overall economic stability.

6. Facilitation of Foreign Investment: A stable and simplified currency system resulting from redenomination can attract foreign investors by reducing uncertainty and perceived risks associated with currency fluctuations and hyperinflation.

7. International Trade: Redenomination can facilitate international trade by simplifying pricing, invoicing, and settlement processes, making it easier for businesses to engage in cross-border transactions.

8. Psychological Impact: Redenomination can have a positive psychological impact on consumers and businesses, restoring faith in the currency and fostering a sense of stability and confidence in the economy.

9. Reduction of Black Market Activities: Redenomination, coupled with effective economic policies, can help reduce black market activities by restoring trust in the formal financial system and reducing the incentives for informal and illegal transactions.

10. Prevention of Hyperinflation: In extreme cases, redenomination may be a necessary step to combat hyperinflation by resetting the value of the currency and implementing measures to control inflationary pressures.

Overall, redenomination can serve as a tool for economic stabilization and confidence-building, contributing to sustainable economic growth and development.

will add comment here

j

some comments

I wish it get to the CBN too

AImoneyAdder:
Solid.


How Can We Collaboratively Push This To The CBN?

helinues:
I go need your supplier's contact oo.

His stuffs is good

Go through the thread one more time for the updates

Redenomination can fail in some countries due to various factors, including inadequate economic policies, lack of public trust, and unforeseen economic shocks. Here are some reasons why redenomination may fail and measures to prevent it:

1. Inadequate Economic Reforms: Redenomination alone is not sufficient to address underlying economic problems such as high inflation, fiscal deficits, or structural imbalances. Without comprehensive economic reforms to address these issues, the benefits of redenomination may be short-lived, and the currency could quickly lose value again.

Prevention: Implement comprehensive economic reforms that address the root causes of economic instability, including sound fiscal and monetary policies, structural reforms to improve productivity and competitiveness, and measures to promote sustainable economic growth.

2. Lack of Public Confidence: Redenomination may fail if the public lacks confidence in the government's ability to manage the economy effectively. If people perceive redenomination as a cosmetic measure without real economic improvements, they may continue to lose trust in the currency, leading to currency depreciation and inflationary pressures.

Prevention: Build public confidence through transparent communication about the reasons for redenomination, the government's commitment to economic stability, and the broader reforms being implemented to strengthen the economy. Engage with stakeholders, including businesses, investors, and the general public, to foster trust and support for the redenomination process.

3. External Shocks: Redenomination efforts can be undermined by external factors such as global economic downturns, commodity price fluctuations, or geopolitical tensions. External shocks can disrupt economic stability and undermine the effectiveness of redenomination measures.

Prevention: Diversify the economy to reduce reliance on volatile sectors, build up foreign exchange reserves to cushion against external shocks, and strengthen economic ties with stable trading partners. Implement policies to mitigate the impact of external factors on the domestic economy and maintain macroeconomic stability.

4. Poor Implementation: Redenomination requires careful planning, coordination, and execution to be successful. Poor implementation, including errors in currency design, logistical challenges in printing and distributing new currency, or lack of enforcement mechanisms, can undermine the effectiveness of redenomination efforts.

Prevention: Develop a detailed implementation plan with clear timelines, roles, and responsibilities for all stakeholders involved in the redenomination process. Ensure adequate resources and expertise are allocated to support the implementation, including technical support from international organizations if needed. Conduct extensive public awareness campaigns to educate the public about the redenomination process and address any concerns or misconceptions.

5. Speculative Activities: Redenomination efforts can attract speculative activities, including hoarding of old currency or currency substitution, which can disrupt the effectiveness of redenomination measures and undermine economic stability.

Prevention: Implement measures to prevent speculative activities, such as setting deadlines for the exchange of old currency, imposing restrictions on large cash transactions, and monitoring financial markets for signs of speculative behavior. Coordinate with law enforcement agencies to enforce regulations and deter illegal activities related to redenomination.

By addressing these factors and implementing appropriate measures, countries can increase the likelihood of success for redenomination efforts and achieve sustainable economic stability.

I bought Garri at #1500, after redenomination, it will cost #1, 50Kobo,

Rice today is around #3000, after redenomination, it will cost #3,

A samsung phone can goes for #200,000 today, after redenomination, it will cost #200

Petro if is #500 today, will cost 50kobo after redenomination.

Lovelive:
I no go school I mean I no know book but I like this write up.



👍

Thanks. I hope it get to the right authorities.

Mr Seun please, I'll be glad if you help move this thread to the front page to get more audience and more input. who knows, these information might get to the right authority.

Mynd44 Fergie001 nlfpmod Dominique please, go through this thread and help push it to the front page for more people to have their input, who knows it might reach the right authorities.

Successfully removing zeros from a currency, a process known as redenomination, involves a series of strategic and carefully planned steps to ensure economic stability and public confidence. Here are the key steps and considerations for a country to successfully remove zeros from its currency:

1. Economic Stability and Timing
- Assess Economic Conditions: Ensure that the macroeconomic conditions are stable. High inflation or hyperinflation must be under control.
- Proper Timing: Choose a time when economic indicators are favorable to minimize disruption.

2. Government and Central Bank Planning
- Clear Objectives: Define the goals for redenomination, such as curbing inflation, simplifying transactions, and restoring confidence in the currency.
- Comprehensive Plan: Develop a detailed plan covering all aspects of the redenomination process, including public communication, logistics, and legal changes.

3. Public Communication and Education
- Public Awareness Campaign: Launch extensive campaigns to educate the public about the redenomination process, its reasons, and its benefits.
- Transparency: Clearly explain how the transition will occur, the conversion rates, and the timeline.

4. Legislation and Regulation
- Legal Framework: Establish a legal framework to support the redenomination. This includes laws to recognize the new currency and to ensure contracts and prices are converted accurately.
- Regulatory Oversight: Set up regulatory mechanisms to oversee the transition and address any issues promptly.

5. Currency Design and Production
- Design New Currency: Design new banknotes and coins with updated security features.
- Production and Distribution: Ensure the production and distribution of the new currency is efficient and secure. Plan logistics to replace old currency seamlessly.

6. Conversion Mechanism
- Conversion Rate: Clearly define and communicate the conversion rate (e.g., 1 new unit = 1,000 old units).
- Dual Pricing: Implement a dual pricing system during the transition period where prices are displayed in both old and new currency to facilitate adjustment.

7. Banking and Financial System Preparation
- Update Systems: Ensure that banks, ATMs, payment systems, and accounting software are updated to handle the new currency.
- Training: Provide training for banking and financial sector employees to manage the new currency effectively.

8. Monitoring and Evaluation
- Monitor Transition: Continuously monitor the redenomination process to address any issues that arise promptly.
- Evaluate Impact: After the transition, evaluate the impact of redenomination on inflation, public confidence, and overall economic stability.

9. International Coordination
- Inform International Partners: Notify international organizations, trading partners, and investors about the redenomination to ensure smooth international transactions.
- Adjust Exchange Rates: Coordinate with international financial institutions to adjust exchange rates and reflect the new currency value.

Case Studies
Successful Examples:
1. Turkey (2005): Turkey successfully redenominated by removing six zeros from its currency, stabilizing the economy, and restoring confidence in the Turkish Lira.
2. Brazil (1994): Brazil’s removal of six zeros from the Cruzeiro Real to the Brazilian Real was part of a broader economic stabilization plan that succeeded in curbing hyperinflation.

By following these steps, a country can effectively manage the redenomination process, ensuring a smooth transition and maintaining economic stability.

Here is a list of countries that have removed zeros from their currencies and whose currencies later performed better:

1. Brazil
- 1967: 3 zeros removed (Cruzeiro to Cruzeiro Novo)
- 1986: 3 zeros removed (Cruzeiro to Cruzado)
- 1989: 3 zeros removed (Cruzado to Cruzado Novo)
- 1993: 3 zeros removed (Cruzado Novo to Cruzeiro Real)
- 1994: 6 zeros removed (Cruzeiro Real to Real)
- Performance: The Brazilian Real stabilized and performed better compared to previous currencies.

2. Turkey
- 2005: 6 zeros removed (Old Turkish Lira to New Turkish Lira)
- Performance: The New Turkish Lira initially stabilized and showed better performance than the Old Turkish Lira.

3. Israel
- 1980: 3 zeros removed (Old Israeli Pound to Shekel)
- 1985: 3 zeros removed (Shekel to New Shekel)
- Performance: The New Israeli Shekel (NIS) became one of the more stable and stronger currencies in the region.

4. Kazakhstan
- 1993: 1 zero removed (Soviet Ruble to Tenge)
- Performance: The Tenge performed relatively well, contributing to Kazakhstan’s economic stabilization post-Soviet Union.

These countries not only removed zeros from their currencies but also experienced improved currency performance and greater economic stability in the following years.

Our country shall be great.