werepeLeri: None of you arguing and shouting has come up with any rational reason or argument against the proposal - its just all sentiments.

It will cause inflation - how, none of you can explain.


The man said you are wasting your time by attacking him, and yet - you are just doing exactly that - wasting your time.

Oga where were u d last time some notes like one naira were converted to coins? wot happened? everything one naira became five naira! has the prices of goods not inflated? or do u understand inflation from jst one perspective? more so, the introduction of the #5000 note will cause a parallel economy and will further fuel corruption! which don't u understand? we r tlking practical economics, not theories!

"Nigerians are wasting their time" in other words, Nigerians can rot in hell for all he cares.
"I don't care" Yes! his boss also did not give a damn.
#5000 has come to stay and that's the truth. Who can dare them?
Until we wake up and fight capitalism, the spirit will continue to hurt us. Who's going to lead the fight?
Few people enjoying the national cake while their dogs feed on the crumbs and the masses are left with nothing to lick.

ifeci:

Oga where were u d last time some notes like one naira were converted to coins? wot happened? everything one naira became five naira! has the prices of goods not inflated? or do u understand inflation from jst one perspective? more so, the introduction of the #5000 note will cause a parallel economy and will further fuel corruption! which don't u understand? we r tlking practical economics, not theories!

Very meaningless vituperations. So, the fact that a note became a coin sent prices high? Hmmm LOL. Economics 569 I think.

No need arguing with your thinking. Its crude.

Save your brain. Dont reply.

mbhs139:

Yeah! You have a point there. And I was about saying the same thing.

Let me just add that later in life, posterity will judge him.

Quiet frankly, I don't have issues with the N5000 thing but the redinomination of some currencies to coins. That's where I see some infractions. We all have the experience with N1 and K50. That's my fear.

Thank Ɣ☺Ʊ bro, τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ next thing we might hear will be τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ old gist; saying "we will ensure Ŧħåϯ τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ coins are fully utilized" these guys are bunch of jokes.

When N1000 note was printed, we heard Ŧħåϯ it was going Ť☺ be scarce ( ßŮϯ now most of us şᵆ or use it ♍☺re than τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ N20 note)

Don't get ♍e wrong SLS is an intellegent being ßŮϯ at times H̲̅€ fails Ť☺ realize Ŧħåϯ theory is different from real world.

jude33084:

Thank Ɣ☺Ʊ bro, τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ next thing we might hear will be τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ old gist; saying "we will ensure Ŧħåϯ τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ coins are fully utilized" these guys are bunch of jokes.

When N1000 note was printed, we heard Ŧħåϯ it was going Ť☺ be scarce ( ßŮϯ now most of us şᵆ or use it ♍☺re than τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ N20 note)

Don't get ♍e wrong SLS is an intellegent being ßŮϯ at times H̲̅€ fails Ť☺ realise Ŧħåϯ theory is different from reality.

Why cant you use normal letters so you can be seen to be making sense?

werepeLeri:

Very meaningless vituperations. So, the fact that a note became a coin sent prices high? Hmmm LOL. Economics 569 I think.

No need arguing with your thinking. Its crude.

Yes! unless u reside in the moon or u hv chosen not to b truthful & dnt tell me not to reply because u r lacking knowledge

werepeLeri: None of you arguing and shouting has come up with any rational reason or argument against the proposal - its just all sentiments.

It will cause inflation - how, none of you can explain.


The man said you are wasting your time by attacking him, and yet - you are just doing exactly that - wasting your time.

Even the average man on the street without any economics background knows from experience the effects of new note on his income.
Prices tend to increase to the nearest naira note. Have you ever asked yourself why the price of pure water increased by 100%?

I want Sanusi to tell me the benefit of the N5000 note to the poor

werepeLeri:

Why cant you use normal letters so you can be seen to be making sense?

I am sorry about that bro I use BB

I will have to retype

jhydebaba: Even the average man on the street without any economics background knows from experience the effects of new note on his income.
Prices tend to increase to the nearest naira note. Have you ever asked yourself why the price of pure water increased by 100%?

Please tell him, the guy seems to be lower than average

This is what we get from the so-called harvard graduate SMH... After they will tell us Democracy is the govt. For the people...

werepeLeri:

Very meaningless vituperations. So, the fact that a note became a coin sent prices high? Hmmm LOL. Economics 569 I think.

No need arguing with your thinking. Its crude.

Save your brain. Dont reply.

Please don't be offended o! Are you in Nigeria?

If i am the President, I'll Behead Him

Frank-C:
I have my issues with Sanusi but if someone is nominated for a job and screened by our Senate and found worthy of such office, we should be gracious enough to let them DO THE JOB. The law has empowered this guy, by virtue of his office to take decisions that will advance the country economically and what he is doing is within the limit of his powers, so lets not do his job for him...let him do the job we put him there to do!!! This place is not a jungle.

No Sir. That's not how democracies work. Without rigorous debate leadership is bound to err whether now or in the future.

this so call Sanusi is too arrogant in his speach, it is high time his wings are cut down bf4 he destroy nigeria d more. he does not want the poor to even live at all.remember God dey o

why wudn't he say so, at least they are letting us know dt nigerians dont have a say in what happens in their country, besides, how many times have our leaders yielded to d yearnings of we nigerians, abeg, do what pleases u, this no be 1st time.

werepeLeri: None of you arguing and shouting has come up with any rational reason or argument against the proposal - its just all sentiments.

It will cause inflation - how, none of you can explain.


The man said you are wasting your time by attacking him, and yet - you are just doing exactly that - wasting your time.

Sanusi may have good motives and sound economic arguments to back up the N5000 note introduction, but what good will it achieve if it sets the country on fire Remember the removal of fuel subsidy also had sound arguments but was opposed by the masses

Dis Guy: I think the MODS have to look closely at this dailypost, it's not really genuine, seems like a place anyone can generate a topic
so they can use it as a reference!

Its genuine . H̲̅€ said it two days ago

greatgod2012: why wudn't he say so, at least they are letting us know dt nigerians dont have a say in what happens in their country, besides, how many times have our leaders yielded to d yearnings of we nigerians, abeg, do what pleases u, this no be 1st time.

Giving up so easily?

mr Frank u are wrong, even thou, is doing wrong thing because he has been screaned by the assembly ,people should allow him? no way .let him listing to the voice of nigerians

jhydebaba: Even the average man on the street without any economics background knows from experience the effects of new note on his income.
Prices tend to increase to the nearest naira note. Have you ever asked yourself why the price of pure water increased by 100%?

So, the price of pure water is what you based your argument on? How much was pure water sold before? 1Naira?

So because there is coin in a nation's currency, price will jump up? Or I dont geddit. Why is there 1p coin in GB and 1 cent in USA? Enlighten me but not with pure water - abeg.

Is it by force you carry the 5000 Naira note?

377: He is an educated nd foolish economist all these cattle rearers that doesnt no anything.

First of all look @ what u spelt as know.what u were reffering to was "know"and not "no".Well the cattle rearer is twenty times better than soludo who is a fellow southener like you.Atleast he has closed most of the leakages soludo created 4 other southeners to steal like Akingbola and Ibru.Come on dude give this guy a break,he is better than all the southeners that have held that post put together.

werepeLeri: None of you arguing and shouting has come up with any rational reason or argument against the proposal - its just all sentiments.

It will cause inflation - how, none of you can explain.


The man said you are wasting your time by attacking him, and yet - you are just doing exactly that - wasting your time.

i am not an economist but my layman knowledge tells me this is a bad policy.i dont need to think too far because every country that has gone this route of printing high denominations have suffered uncontrollable inflation and some had to redenominate.we have to learn from history.why should we try a strategy that is well known to be a precursor to an economic collapse?
some countries have high denominations e.g america has the $1000 but you rarely see it in circulation.sanusi has been implementing a cashless policy so there really is no need for creating a new denomination when you want to mop up money from circulation.
by the time the lesser denominations become coins,you wont be able to buy anything for 5,10,20 or 50naira.because nigerians are averse to the use of coins and that will see prices rise hence the inflation we are worried about.thats just a layman view and am sure the economic indices will paint a worse scenario

Reference:

No Sir. That's not how democracies work. Without rigorous debate leadership is bound to err whether now or in the future.

Abeg helep mi tell τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ Oworo shoki Harvard student

Don't mind τ̲̣̣̥н̣̣̣̝̇̇̇ε̲̣̣̣̥ post

Delafruita:
i am not an economist but my layman knowledge tells me this is a bad policy.i dont need to think too far because every country that has gone this route of printing high denominations have suffered uncontrollable inflation and some had to redenominate.we have to learn from history.why should we try a strategy that is well known to be a precursor to an economic collapse?
some countries have high denominations e.g america has the $1000 but you rarely see it in circulation.sanusi has been implementing a cashless policy so there really is no need for creating a new denomination when you want to mop up money from circulation.
by the time the lesser denominations become coins,you wont be able to buy anything for 5,10,20 or 50naira.because nigerians are averse to the use of coins and that will see prices rise hence the inflation we are worried about.thats just a layman view and am sure the economic indices will paint a worse scenario

Nigerians are averse to the use of coins - so, we must not print coins. Do we have three heads as compared to other nations of the world where the people use coins? Abeg.

Werent we using coins previously? So are you telling me now, if you have a 100 naira coin, you wont spend it, you will throw it away because you dont like coins? Come on. Say something better.

Which country are you referring to with uncontrolable inflation because they have high currency value? Japan? Whats the highest currency value in Japan? Thank you for saying America has the 1000 dollar bill. It caused inflation I guess, and Americans are averse to the use of coins because they feel too big?

I dont get it. Dont use layman's logic to argue an economic policy - use well laid out, logical argument.

Delafruita:
i am not an economist but my layman knowledge tells me this is a bad policy.i dont need to think too far because every country that has gone this route of printing high denominations have suffered uncontrollable inflation and some had to redenominate.we have to learn from history.why should we try a strategy that is well known to be a precursor to an economic collapse?
some countries have high denominations e.g america has the $1000 but you rarely see it in circulation.sanusi has been implementing a cashless policy so there really is no need for creating a new denomination when you want to mop up money from circulation.
by the time the lesser denominations become coins,you wont be able to buy anything for 5,10,20 or 50naira.because nigerians are averse to the use of coins and that will see prices rise hence the inflation we are worried about.thats just a layman view and am sure the economic indices will paint a worse scenario

Werpeleri Over Ť☺ you

Frank-C:
I have my issues with Sanusi but if someone is nominated for a job and screened by our Senate and found worthy of such office, we should be gracious enough to let them DO THE JOB. The law has empowered this guy, by virtue of his office to take decisions that will advance the country economically and what he is doing is within the limit of his powers, so lets not do his job for him...let him do the job we put him there to do!!! This place is not a jungle.

No Sir. Democracies don't work that way even for those in top shape governed by exceptional people. The truth is that without debate leadership is bound to err, if not now, in the future.

Let the debate continue. Its not an expedient thing. We have time. Its not a security issue or some ebola viral attack.

Sanusi is right. We , the educated , have started to reason like illiterates.

Have we quickly forgotten, the cashless policy. This new note will force you and I to go cashless.

The poor hardly makes withdrawals over 5k. Even sucessful traders make transfers an dc use check books. Without this new note you guys will never fully accept cashless policy.

I suggest you get poketmoni. And prevail on as many business people to integrate these systems into their businesses. Though transaction fees may be high, discounts will soon take over to force sales.

What is happening in this country is simple, you have to grow smarter to survive the old ways are not working anymore.

And, 5k notes will not effect corruption. All monies stolen in the past where concluded using wire transfers. Big business do not use cash they make transfers.

Sanusi is anti west, several indications and activities have proven this, in the past he was continously asked to devalue the naira which he refused. Judge SLS by his past actions not your emotions.

werepeLeri:

Nigerians are averse to the use of coins - so, we must not print coins. Do we have three heads as compared to other nations of the world where the people use coins? Abeg.

Werent we using coins previously? So are you telling me now, if you have a 100 naira coin, you wont spend it, you will throw it away because you dont like coins? Come on. Say something better.

Be truthful bro, when was the last time you saw or used coins?

@Reference
I agree with you completely but such robust debates has happened since 2005 before the office of the CBN governor was empowered to do this and majority felt that he should have such powers.
Sanusi does not really have the profile of my ideal CBN governor but how can we hold him responsible for his today's decisions in 2020 if we do not even allow him to take that decision in the first place. I think democracy makes us civilized by getting us to act according to laws. Democracy is not intended to yield one big chaotic system where everyone has to agree before policies are implemented, that is why even the National Assembly have principles of 2/3 or simple majority. Democracy makes your vote an equivalent to that of musiwa.

ekt_bear: Suppose instead of introducing an N5000 note, he redenominates the currency, removing two zeros.

So you exchange N100 for a "new naira."

Would anyone be opposed to the latter?

So how can the latter be OK but introducing an N5k note be insane?

Are they not effectively the same thing?

That's what am saying. When you subject the matter through the debate mill of sound ideas you get to find out whether the whole storm is about the much touted savings or just another ego trip. Let the debate continue.

jude33084:

Be truthful bro, when was the last time you saw or used coins?

I still went to shoprite recently and got my change in coins. What kind of statement is that - Nigerians are averse to the use of coins? since when?

We used to board buses in Lagos back in time and we used coins - there is even a coin machine fitted on the bus like we have abroad - pop ur coin and get your receipt. LSTC buses in Lagos back in time. I guess you are too young to see it work. The same people u said are averse to the use of coins go abroad and spend coins and travel all over with it. Dont use that crap as Nigerians are averse to the use of coins as an intellectual argument anywhere/