₦airaland Forum

500EUR was discontinued recently and no longer printed.... for the same reason

The old 1000NGN note will be equal to new 1NGN Note; (The new 1NGN note, will have alias as "Old #1000" )

The old 500NGN will be equal to new 50kobo(note or coin); (The new 5kobo note or coin, will have alias as "Old #500" )

The old 200NGN will be equal to 20Kobo(note or coin); (The new 20kobo note or coin, will have alias as "Old #200" )

The old 100NGN will be equal to 10Kobo(note or coin); (The new 1kobo note or coin, will have alias as "Old #100" )


The new 5NGN will be equivalent to sum worth of old #5000
The new 10NGN currency note will be equivalent to sum worth of old #10,000
The new 100NGN currency note will be equivalent to sum worth of old #100,000

You, we may not even need 200 naira note again, because it will be too big.

USA used to have all these currencies with big face values but do they still have them today? Why?

They discontinued the printing and use of these big currencies for the same reason....

we need to stop the printing and use of #500 notes and #1000notes. and if possible #200 notes

SMH

If the policies suggested in this writeup are put in place, #800 will have high purchasing power (worth the current #800,000) which will be enough for workers monthly expenses.


1. Redenomination is the first answer: WE NEED TO DELETE ZEROS (at least 3 zeros) FROM OUR CURRENCIES

In monetary economics, redenomination is the process of changing the face value of banknotes and coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation.

Redenomination itself is considered symbolic as it does not have any impact on a country's exchange rate in relation to other currencies. It may, however, have a psychological impact on the population by suggesting that a period of hyperinflation is over, and is not a reminder of how much inflation has impacted them. The reduction in the number of zeros also improves the image of the country abroad.

Inflation over time is the main cause for the purchasing power of the monetary unit decreasing; but there are a variety of political reasons for the government not reining in inflation or for not redenominating the currency when its value has depreciated significantly. There are some economic and social benefits of redenominating, including improved efficiency in processing routine transactions. Redenomination typically involves the substitution of new banknotes in place of the old ones, which usually cease being legal tender after the end of a short transition period.
https://en.wikipedia.org/wiki/Redenomination

Many countries have done it.

2. We should discontinue the use and printing of #1000 notes and #500 notes and then reintroduce Kobos

3. Encourage Investment: Creating a favorable environment for both domestic and foreign investment can help boost economic productivity. More emphasis should be laid on local investors and small and medium businesses.

4. Payment scale of politician should be greatly reduced. (Or just be left as it is currently is)

5. Increase Interest Rates: Central bank of Nigeria should raise interest rates to make borrowing more expensive, thereby reducing the amount of money in circulation.

6. Control Money Printing: Central bank of Nigeria should stop printing excessive amounts of money, which is often a direct cause of hyperinflation.

7. Social Safety Nets: Implementing or strengthening social safety nets can help protect the most vulnerable populations from the effects of hyperinflation.

8. Subsidies and Price Controls: Temporary subsidies and price controls on essential goods can provide short-term relief, although these should be used cautiously to avoid long-term market distortions.

9. Heavy National Reorientation: Government of Nigeria should heavily invest in the National Orientation Agency of Nigeria NOA's activity. They should use all the following media to reoriented people about the ongoing developments: Print Media: Newspapers, Magazines, Newsletters, Brochures; Broadcast Media: Television, Radio; Digital Media: Websites; Blogs, Social Media, Podcasts, Online Videos, Digital News Platforms; Film: Movies, Documentaries, Short Films; Music: Albums, Singles, Streaming Platforms; Visual Arts: Paintings, Sculptures, Photography; Performing Arts: Theater, Dance, Opera, Musicals; Advertising Media: Billboards, Advertisements (Print, Broadcast, Digital), Product Placements and lastly Literature: Novels, Short Stories, Poetry, Plays.
Public Awareness Campaign: Nigeria government should launch extensive campaigns to educate the public about the redenomination process, its reasons, and its benefits.
Transparency: They should clearly explain how the transition will occur, the conversion rates, and the timeline.


Several countries have done these in the past and they are enjoying the result today.



More about the redenomination:

- The old 1000NGN note will now be equal to new 1NGN Note; (The new 1NGN note, will have temporary alias as "Old #1000" )

- The old 500NGN will now be equal to new 50kobo(note or coin); (The new 50kobo note or coin, will have temporary alias as "Old #500" )

- The old 200NGN will now be equal to new 20Kobo(note or coin); (The new 20kobo note or coin, will have temporary alias as "Old #200" )

- The old 100NGN will now be equal to new 10Kobo(note or coin); (The new 10kobo note or coin, will have temporary alias as "Old #100" )


- The new 5NGN will be equivalent to sum worth of old #5000
- The new 10NGN currency note will be equivalent to sum worth of old #10,000
- The new 100NGN currency note will be equivalent to sum worth of old #100,000

You se, we may not even need 200 naira note again, because it will be too big.


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.


So if the redenomination is put in place #800 minimum wage will worth the current #800,000 and will be enough for wokrer monthly use.

Updated

This guy didn't value his freedom when he was a free man and now he has no one to help him.

Just like Simon Ekpa and Ojukwu, his actions has resulted into murder of many of his tribesmen and security officers with a lot of properties destroyed. He commanded this murders and property destruction. And the funny thing is that few gullible people from the SE still see these three men as their heroes.

He is a chest beater and delusional with some touches of schizophrenia.

If he is a leader as some people refer to him (out of their ignorance), then they should tell us one positive thing he has contributed to the people of SE rather than hatred, death and destruction of properties.

The leaders that we know create free education for all (just like Awolowo), they create viable business environments for the prosperity of their people, they seek for protection of life and properties of their people. They believe in sanctity of life and just like the good shepherd, they will keep the other 99 sheep in safe hands, and go hundred miles to ensure the safety of any one missing sheep. They have large heart and think prosperity and peace always.

Good leaders don't try to dominate their people through terror and fear, destruction of businesses and properties, they don't arm gullible youths and send them to their early graves, they don't incite violence and hatred against their own people.

This is incredible.

babasolution:
It's not about insult and mockery,it is evident truth

Bring your evidences and legitimate references to th table and let's examine them critically.

SMH

Please, try and treat malaria. Our prayers (from Yorubaland) are with you.

Great exposition. Keep it up.

Nigeria has all the potential to become the best country to live and do business in the world.

H

Evolution is thing. Inherited gene is also a thing.

If I am member of your group, I will alway feel depressed about why almost all my people think, talk and act this way.

Even the adults that surprosed to be cautioning you people are not exempted; only a few.

I'm talking about you covetous land grabbers.

As a first-class graduate that he is; considering his divisive speeches during the time he was contesting as the Oyo state governor, his speeches as a minister and considering how he has managed his portfolio so far, this man is a good example one can always make a point at when differenting between the "ability to pass a test" vs "having an at least an average emotional intelligence and intelligence quotient".

This is why it is good to have a common man with empathy who can feel the hurting shoes of general citizens, than an overfed fellow who is not even much of self aware.

I

Chinjo2:
This is why you need technocrats as Governors and not career politicians.

I like that quote.

And let me add this for our tithe paying brother cos it's only human being that can believe any story being told.

You could never convince a monkey to give you a banana by promising him limitless bananas after death in monkey heaven. -Yuval Noah Harari

The statement is not absolutely true. It is just a mind game.

With proper strategies and corporation of card holding voters (not the online empty-headed big-mouthed narcists and nzobu cronies), any president can be booted out.

I agree that President Bola Tinubu is a very powerful president, but he should not slack at doing the right things. Power is transient.

My wish and prayer for the president is that like Awolowo made unforgettable and historical impacts in the SW, he should be able to make impact that will outlive him in Nigeria.

There are formal presidents still alive that nothing in particular can be said about them as historical impact on Nigeria than the structure of corruption, election rigging, nepotism, diversion of developmental fund (like building of Electric Power damn) and so on. Soon, when they are gone, we will only remember them only when reading a list of past presidents.

Some forefather of the American sat down and make vows (through writing of constitution and creation of systems that discourage corruption) to ensure that only men with integrity (and not with questionable past) will ever be able to lead their nation. They are enjoying the benefit today.

Oba To Ba Je Ti Ilu Toro Oruko Re Koni Pare, Eyi To Si Je Ti Ilu Daru, Bakana Oruko Re koni Pare.

The same terrorist leader; Simon Ekpa, who orchestrated the murder of his fellow tribesmen in the pictures below lacks the moral standing to bringing up such fake news.

It's makes me cry to see such an intelligent Doctor like in the picture been killed by illiterates who thinks freedom fighting is by murdering their own tribesmen, putting all the people of the whole SE region (with five states) on House Arrest and then destroying businesses and investments.

Those without transport fare are already registered and engaged in daily money contribution savings towards packing and relocating their family to the peaceful and business viable SW. Most especially, our people from the SE whose businesses and peace of mind have been deprived of by the IPOB terrorists who also put the SE people on every Monday House Arrest.

Here is the SE:

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


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

rantingpigs:
You can't take what you dish out foolishly.

Go reclaim ILORIN..
Revenge your killed KINGs
Revenge your people killed till today sef
Apart from LAGOS, make your worthless villages habitable

All your fixation is IGBOs and you tell me that your are not mentally imbalanced ?

Sharrap there.. Nonsense lamentations of a typical Agbado BATERIA failure..

Spits..

If you have any issue with any of the topic you listed, create a new thread for each of the topic and then invite me to the discuss.

Let's focus on the topic of this thread: Do SE People Regret The ‘Sit At Home’ Era?

rantingpigs:
Just look at this loser. You start by flashing pictures of dead people to taunt IGBOs. I remind you of your worthless OBAs killed by FULANi Herdsmen, you resort to peace talk mode? You are essentially daft and shallow.

Nonsense

Again, I can't blame you. I understand that if you have the capacity to come up with convincing arguments, you would have done better than these verbal attacks.

Again, I can't blame you. I can only SMH.

rantingpigs:
Who has the capacity to engage idiots? Certainly NOT me.

Better go look for another picture bonanza of murdered people to salivate on. When your worthless OBAs were killed recently and you have to accent to giving the killers land for graIng .

Useless losers..

SMH

I understand you can not do beyond your mental capacity. I can't blame you.

People who lack capacity to reason usually result to verbal attacks or whataboutism. I can't blame you.

rantingpigs:
This is now obvious that all these Propaganda is because TINUBU is under intensive care?

Unathink say una wise abi?

Bayo Onanuga had to pst an edited FRC come ncil picture to act as if TINUBU dey kamkpe. The gist in ABJ is that the guy dey on life support.

RONU lineage Don die...

Your comment is why I wrote the below. Why bring another topic here? If you're interested in discussing another topic, create a new thread and invite me to join you in discussion.

UncleAyo:
This kind of question should only asked people with capacity to RONU (reflect) and not the nzobu nzobu cronies.

Having the capacity to reflect means possessing the ability to think deeply and thoughtfully about one's experiences, actions, beliefs, and emotions. It involves a process of introspection and self-examination, where an individual takes time to consider and evaluate their thoughts and behaviors in order to gain insights and understanding. Here are some key aspects of this capacity:

1. Self-Awareness: Being aware of one's own thoughts, feelings, and behaviors, and understanding how they affect oneself and others.

2. Critical Thinking: The ability to analyze and evaluate experiences and information critically, questioning assumptions and considering different perspectives.

3. Learning and Growth: Using reflection as a tool for personal development, learning from past experiences, and making informed decisions about future actions.

4. Emotional Intelligence: Recognizing and understanding one's own emotions and those of others, which can lead to better interpersonal relationships and emotional regulation.

5. Mindfulness: Being present and fully engaged in the current moment, which can enhance the quality of reflection and lead to greater insights.

6. Ethical Consideration: Reflecting on one's values and ethics, and how they influence decisions and actions, promoting moral and ethical growth.

Blue3k:
That Era was great 👍. It was supposedly voluntary. Nobody was arrest for enforcement it from what I remember. It's not like Buhari needed an excuse to go smack some IPOBs. It should restart again make it like covid lockdown this time.

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

Those who have transport money are already in the SW and SS other who don't are already making daily contribution toward the transportation of their family from that region.

If Dr. Akunyili knew that his life will be ended as a result of the sit at home, he would have left that region and never plan to return back during his lifetime.


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



Nobody was forced?
picture 1 and 2: Chike Akunyili, late Dora Akunyili’s husband murdered by the "House Arrest" enforcer terrorists.
picture 3: 4 USA consulate convoy and staffs murdered by the same IPOB.

This kind of question should only ask people with capacity to RONU (reflect) and not the nzobu nzobu cronies.

Having the capacity to reflect means possessing the ability to think deeply and thoughtfully about one's experiences, actions, beliefs, and emotions. It involves a process of introspection and self-examination, where an individual takes time to consider and evaluate their thoughts and behaviors in order to gain insights and understanding. Here are some key aspects of this capacity:

1. Self-Awareness: Being aware of one's own thoughts, feelings, and behaviors, and understanding how they affect oneself and others.

2. Critical Thinking: The ability to analyze and evaluate experiences and information critically, questioning assumptions and considering different perspectives.

3. Learning and Growth: Using reflection as a tool for personal development, learning from past experiences, and making informed decisions about future actions.

4. Emotional Intelligence: Recognizing and understanding one's own emotions and those of others, which can lead to better interpersonal relationships and emotional regulation.

5. Mindfulness: Being present and fully engaged in the current moment, which can enhance the quality of reflection and lead to greater insights.

6. Ethical Consideration: Reflecting on one's values and ethics, and how they influence decisions and actions, promoting moral and ethical growth.




The sit at home was not meant to achieve anything positive but to:
1. To assert dominance over tribesmen through the use of guns and terror. Putting fellow tribesmen on "House Arrest" and then turn back to tell the world that they sat at home voluntarily.

2. To freely commit murder and cannibalism of fellow tribesmen.

3. To revenge perceived enemies, through the murder of political and traditional leaders, and those who did not show support for and who spoke against their activities.

4. To destroy businesses by locking up shops and business premises in the pretense of conducting thoughtless protest.

5. To chase away investors and to destroy current investments in the SE.

6. To create fear in the mind of people and to prevent them from living a peaceful life.

7. To make money through illegal donations.

8. To prevent student from attending schools, colleges and universities.

9. To silence contrary opinions.

10. To send gullible youths to their early graves, putting them in harm ways without any backup for protection.

11. To chase good people out of the SE; the educated, the rich and the poverty stricken (who have transport faire).

12. To murder government security officers and then establish non state actors.

Does your state pay workers and pensioners salaries on or before 25th on each month?

I know of Oyo state and Lagos state. Which other one do you know?

Pensioners begging in Oyo state? The same pensioners that get paid on or before 25th of every months plus plenty bonuses?

People that lack conscience are not better than wild animals.

May posterity judge you for this your evil comment.

You people keeps badmouthing development projects in SW instead of askings your own governors about how they are stealing money meant for development of your states. Later, you will turn around and say you developed everywhere, whereas, you have not develop a single viable city in your region.

Gerard28:
Working indeed. With Massive Street Begging and pensioners roaming all over the streets begging for food.
I stay in Ibadan and I am a direct eye witness