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CBN To Introduce N5,000 Note - Business (7) - Nairaland

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Re: CBN To Introduce N5,000 Note by violent(m): 12:24am On Aug 24, 2012
Aren't there plenty of ways for my to do this anyways? Euros, dollars, pounds, etc. USD 50 is like N7500.

Dodgy people will always find a way to do what they want to do, whether this is introduced or not.

Probably. But the cost and ease of obtaining foreign exchange makes it a relatively cumbersome process.
Re: CBN To Introduce N5,000 Note by iamtheprincipal: 12:25am On Aug 24, 2012
ekt_bear: Regarding Ojukwu, someday I will visit his grave and urinate on it cheesy

So don't hold your breath waiting for me to be a fan

@ekt_bear, I don't waste my time on nincompoops like you. It's your father's grave, you would urinate on. Scallywag!

2 Likes

Re: CBN To Introduce N5,000 Note by ektbear: 12:28am On Aug 24, 2012
iamtheprincipal:

@ekt_bear, I don't waste my time on nincompoops like you. It's your father's grave, you would urinate on. Scallywag!

Nope. It is Ojukwu's grave I will urinate on. I can piss on your father's grave too if you like...just tell me where he is buried.

And if you don't like this...go hug transformer.
Re: CBN To Introduce N5,000 Note by violent(m): 12:28am On Aug 24, 2012
ekt_bear: So your argument is that:

1) Employees are paid in cash. In other words, employer withdraws huge cash from the bank, hands it out to employees
2) If they are now paid in units of N5k by the employer, then they won't deposit this money in their bank account
3) Banks will suffer liquidity as a result

Is this your argument?

If so, are you sure that (1) is true? Are teachers, civil servants, etc paid in cash?

Again, the whole point to this is to think of possible effects. It may be difficult to say for sure the percentage of people that get paid in cash. My dad for instance still pays his employees in cash. same thing with many of his friends.
Re: CBN To Introduce N5,000 Note by ektbear: 12:32am On Aug 24, 2012
Right, so one can think of the possible effects. But then you need to assess, "how likely is this worst case outcome?"

Or more importantly we should ask, "what is the likeliest outcome?"

Anyway, to measure the effect, one would have to design some sort of study I suppose.

But it is quite a leap to say that the worst imaginable outcome is also the most likely one.
Re: CBN To Introduce N5,000 Note by umra8901(f): 12:51am On Aug 24, 2012
shocked angry
wtf is wrong with people in power in this country? Are there no advisors, economists in power? Did people not go to school? Basic economics? Common sense?
Mehn, how do we get such daft people into power, leading the nation and taking care of our money etc?
The zeros should be reduced not increased.

This is stupidness. Utter and complete foolishness. As if things are not hard enough for the common man. Even though I don't advocate murder, in times like this, I wish Nigeria can follow the footsteps of Ghana and do a major cleansing of corrupt leaders who are taking this country backwards for their private gain.
When I have kids, will there be anything to show them or be proud of about Nigeria? cry

I <3 Nigeria, but I don tire.

1 Like

Re: CBN To Introduce N5,000 Note by iamtheprincipal: 12:56am On Aug 24, 2012
ekt_bear: Regarding Ojukwu, someday I will visit his grave and urinate on it cheesy

So don't hold your breath waiting for me to be a fan
Re: CBN To Introduce N5,000 Note by manny4life(m): 12:59am On Aug 24, 2012
van bonattel:

you always talk about analysis, analysis of what exactly? go ahead and tell us what made you think its a right step considering the following points

increased robbery
easy of handling
cashless economy
lootocracy
inflation, yes inflation grin

please give us a very good analysis my analyzer grin


Don't you get it, HE NEVER DOES. Always talk about sh.it he can't analyze. cheesy cheesy cheesy
Re: CBN To Introduce N5,000 Note by phemybof(m): 1:00am On Aug 24, 2012
kelvincoll: angry Lord Sanusi just wants to be remembered in the nigerian economic history but he's taking it the wrong way! All his policies has neva benefited the common man.
[color=#990000][/color] from ds time of announcment,everybody should be very careful of ur friends,neighbours,enemise,relations,etc. For those of RITUAL MONEY MAKER.those dat av not into it wil now wish to join,those dat ar already there wil like to make sacrifice for new money.4 those dat av ear shuld heard had ds
Re: CBN To Introduce N5,000 Note by fstranger: 1:13am On Aug 24, 2012
ekt_bear:

Nope. It is Ojukwu's grave I will urinate on. I can piss on your father's grave too if you like...just tell me where he is buried.

And if you don't like this...go hug transformer.

How come everyone thinks EKt Bear is a person?
Re: CBN To Introduce N5,000 Note by fstranger: 1:13am On Aug 24, 2012
iamtheprincipal:

@ekt_bear, I don't waste my time on nincompoops like you. It's your father's grave, you would urinate on. Scallywag!

True yarn!!!

1 Like

Re: CBN To Introduce N5,000 Note by ektbear: 1:28am On Aug 24, 2012
lol @tweedle dumb (fstranger) calling anyone else stvpid.

A guy who is too dumb to read and comprehend a healthcare thread, despite presumably aspiring to have a career in the industry
Re: CBN To Introduce N5,000 Note by fstranger: 1:35am On Aug 24, 2012
iamtheprincipal:

@ekt_bear, I don't waste my time on nincompoops like you. It's your father's grave, you would urinate on. Scallywag!
Re: CBN To Introduce N5,000 Note by ektbear: 1:37am On Aug 24, 2012
Tweedle dumb, how far

any progress yet
Re: CBN To Introduce N5,000 Note by fstranger: 1:44am On Aug 24, 2012
iamtheprincipal:

@ekt_bear, I don't waste my time on nincompoops like you. It's your father's grave, you would urinate on. Scallywag!
Re: CBN To Introduce N5,000 Note by ektbear: 1:47am On Aug 24, 2012
Heh

I can do this all day.

Tweedle dumb, how far

any progress yet
Re: CBN To Introduce N5,000 Note by cheks22(m): 1:55am On Aug 24, 2012
;DD
aryzgreat:

otu nnegi bu wuruwuru! Anu mpama! Ewu congo! Nkita lachakwaa gi anya! udene rikwaa gi na ndu! Anuofia!
Re: CBN To Introduce N5,000 Note by greatgod2012(f): 1:57am On Aug 24, 2012
pls, all parents/guardians shd be more careful and vigilant this days concerning their kids/wards, because moos money ritualists will be of increase in d xtry. May God help us and deliver us from this sanusiin dis xtry.
Re: CBN To Introduce N5,000 Note by F00028: 2:09am On Aug 24, 2012
souldust: i heard the logo of the national assembly is to be at the reverse side. If that is true, then i think its a wrong decision. Why not the benin bronze head instead. Why the national assembly whose property is already on the two naira coin and whose members are all 'rogues and thieves'
see you! is it not their moni?
Re: CBN To Introduce N5,000 Note by Nobody: 2:26am On Aug 24, 2012
Ds is what u get when a northern megalomaniac & pretended technocrat is in office. Have we nt seen his likes b4? El rufai,Ribadu et al, we dnt have 2 wait long b4 ds Sanusi chap dances out of tune & lame. He is an accident & will soon occupy his place in d dustbin of history .
Re: CBN To Introduce N5,000 Note by Nobody: 2:32am On Aug 24, 2012
lagerwhenindoubt: Damn it.. my[b] parole [/b]will cost much more these days angry

You de for jail?
Re: CBN To Introduce N5,000 Note by pyluve: 2:38am On Aug 24, 2012
DS
IS D FASTEST WAY TO THE FINANCIAL RED SEA.I THOUGHT THEY WANTED 2 ADVANCE 2 A CASHLESS
ECONOMY,SO,WHY THEN EMBARK ON SOME THING LIKE DIS?EASY WAY 2 LOOT OUR
CURRENCY 2 ANOTHER COUNTRY BY OUR............
Re: CBN To Introduce N5,000 Note by Oluwadare: 3:18am On Aug 24, 2012
I'm still in struggle to understand the necessity behind the cashless wahala, & here comes another good for rich and bad for an average people on the str. U just have to surprised to where u expected a wisdom but met fool.
Re: CBN To Introduce N5,000 Note by mreldon(m): 3:25am On Aug 24, 2012
Sanusi Lamido claims to have a plan and yet all we are being told is what the note will look like. Funny!!! What are d underlying issues??!!
Re: CBN To Introduce N5,000 Note by PhysicsQED(m): 4:00am On Aug 24, 2012
souldust: i heard the logo of the national assembly is to be at the reverse side. If that is true, then i think its a wrong decision. Why not the benin bronze head instead. Why the national assembly whose property is already on the two naira coin and whose members are all 'rogues and thieves'

There was already a Naira note with a Benin ivory mask on it.

[img]http://t1.gstatic.com/images?q=tbn:ANd9GcSo14WEOGPiqgoDophK2fsa3mGC3wRoSFVNUKnu3q4AN2YiXdthbPNkBROs2A[/img]

http://www.baudelet.net/monnaies/naira-nigeria.htm
Re: CBN To Introduce N5,000 Note by PhysicsQED(m): 4:12am On Aug 24, 2012
Anyone know why they put an offshore oil rig on the 500 naira note?

Just wondering.
Re: CBN To Introduce N5,000 Note by Delaw8: 4:23am On Aug 24, 2012
From cassava bread philosophy to 5000 naira note ideology, all geared towards making the rich few richer and the poor majority poorer. Ordinary sachet water which was just increased from N5 to N10 will now be sold for as much as N100 (lowest note denomination). May God help us all. Amen
Re: CBN To Introduce N5,000 Note by taharqa: 4:37am On Aug 24, 2012
Sanusi has a loooot of Explaining to do and I will wait or he to do so. But I cant just understand the sense and necessity of this move, Emphasize on the necessity. This was how the govt messed up the subsidy thing...anyways, waiting
Re: CBN To Introduce N5,000 Note by mirob(f): 5:03am On Aug 24, 2012
ballabriggs:

Mr man please stop disgracing yourself with this you groundnut and garri analysis. Go to bed and stop wasting your time.

None of you point to any macroeconomic indicator, no assessment of the current position of the economy but you just jump ignorantly with a garri and groundnut "it will cause inflation" argument. What do you even know is inflation?

In your attempt to deride the man because "he is an aboki who knows nothing", you show how ignorant you are.

Then enlighten us sir because we are all here †̥☹ learn from one another, sir please educate us on how this will benefit †ђξ average Nigerian, thanks in advance.
Re: CBN To Introduce N5,000 Note by manny4life(m): 5:33am On Aug 24, 2012
mirob:

Then enlighten us sir because we are all here †̥☹ learn from one another, sir please educate us on how this will benefit †ђξ average Nigerian, thanks in advance.


Enlighten us? LOL... You're obviously wasting your time because he won't, HE CAN'T. About 5 people have asked him to explain but he can't. Oh , btw, perhaps, you missed the memo where he said

The 5000 naira youhave today when you deflate and put it in real economic prices may be equal to the 1000 naira of 2005.

So what is the whole hullabaloo for. I'm yet to see any sound economic argument against the plan.

What I see is road side argument.


If an expert like him shot himself on the foot and wrote this without further explanation aka, when deflated (like duhhhh, opposite of inflated) 5 units of currency in 2012 = 1 unit of currency in 2005, please do the math for yourself, like I've asked before, what is the price change/differentiation over time called? I knew what he's trying to do, the theory he's gonna base his "hullabaloo" on, that's why I can't wait to laugh o, he's speaking big English to those who don't understand his terms...lol cheesy cheesy cheesy cheesy cheesy


Then again, I/we ignorant and so willing to learn from the master, anything wrong with that?
Re: CBN To Introduce N5,000 Note by manny4life(m): 5:43am On Aug 24, 2012
ibsmooth: can't u just condem in its simplest form rather than using the cattle rearer.your N100,N200,N500 and N1,000 was introduced by a cattle rearer CEO and president I believe.This manny4life,u re something else.Sanusi cannot introduce 5,000 notes without the approval of mr president.In my opinion I think its wrong to introduce it and stop being sectional young chap


Hmm, you again? Dude I don't have time for you religious argument, not today... NEXT

I have made my point, it's CLEAR and glaring. I know u don't like it, my bad man, but you gonna have to deal with it.

BYW, look through your own post, and take a cue from your own advice. grin grin grin
Re: CBN To Introduce N5,000 Note by AhmedInusa: 5:45am On Aug 24, 2012
Burannoba! Allah ya tsare Toh.

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