werepeLeri:

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[b] back in time[/b] 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/

your thinking is skewed and so biased to favour 5k by all means. you are not being rational!I'm not an economist but I can be more objective. have you compared the prices of goods/services ''back in time'' to what it is now? then the kobo had value. there was so much you could do with it. however, years down the line, with introduction of higher currencies and inflation, the kobo lost its worth. funny enough our economic policies and pricing strategies hardly favour policies/interventions that will preserve the kobo. you are quick to point out that in Britain, Nigerians use the 1 pound coin but you seem to be oblivious of the fact that £1 coin has market/economic value. if you are observant you'll notice the pricing trend in most supermarkets preserve the value of denominations in coins. for example in most supermarkets, you'll find the price tag of goods/products deliberately bearing or ending in 98p [so you get a 2p balance] or adverts such as buy 2 for a pound or 1 for 75p. infact there is even a shop/supermarket known as 1 pound shop [1 pound land] where everything goes for a pound. does that that apply in Nigeria?

Arguably, Nigerians are 'averse' to coins not because of the popular belief that it's heavy or whatever, but because it can hardly fetch anything meaningful..not even the cheapest biscuits. btw, you may be poised to argue at this point that introduction of N5, N10 , N20 coins will most likely compel Nigerians to use coins because those currencies are still in use for petty goods/services. well, sorry because there's another problem. in developed countries you cite, there are machines that enables you convert your load of coins into notes. how many of such do you have in Nigeria? this makes haulage very cumbersome and anyone dealing in a business that involves such denominations [such as bus drivers/okada riders, small scale traders etc] will consider it a herculean task carrying bucket loads of coins. such difficulties could foster them to increase prices to the nearest naira note even if it means compelling you to get more in order to pay in the nearest naira note. a typical example is the popular minty candy - 'tom-tom'. initially, at a time, it was sold for 1.50k naira coin or so, but in no time, marketers started demanding you must buy 3 for the nearest naira note [N5]. these are market dynamics that should be put into consideration. often, such market dynamics are determined by socio-cultural factors. think again man!

billante: *

...The problem is that the CBN is the only institution doing anything. Roads are not being built. We have no new airports. No progess on new power plants. No rail lines...

http://dailypost.com.ng/2012/09/15/introduction-n5000-note-nigerians-wasting-time-sanusi-lamido/

GEJ, are you listening? Is this really true? Mr. President, please quickly do 'something, anything' right away to put SLS in his place. Or better still, kindly put Nigeria 'back on track'. Yes, Nigerians feel for you... but YOU chose to be President. Sir, you will therefore need to solely 'carry your cross' as we truck on to the promised land. God bless Nigeria.

pato405:

your thinking is skewed and so biased to favour 5k by all means. you are not being rational!I'm not an economist but I can be more objective. have you compared the prices of goods/services ''back in time'' to what it is now? then the kobo had value. there was so much you could do with it. however, years down the line, with introduction of higher currencies and inflation, the kobo lost its worth. funny enough our economic policies and pricing strategies hardly favour policies/interventions that will preserve the kobo. you are quick to point out that in Britain, Nigerians use the 1 pound coin but you seem to be oblivious of the fact that £1 coin has market/economic value. if you are observant you'll notice the pricing trend in most supermarkets preserve the value of denominations in coins. for example in most supermarkets, you'll find the price tag of goods/products deliberately bearing or ending in 98p [so you get a 2p balance] or adverts such as buy 2 for a pound or 1 for 75p. infact there is even a shop/supermarket known as 1 pound shop [1 pound land] where everything goes for a pound. does that that apply in Nigeria?

Arguably, Nigerians are 'averse' to coins not because of the popular belief that it's heavy or whatever, but because it can hardly fetch anything meaningful..not even the cheapest biscuits. btw, you may be poised to argue at this point that introduction of N5, N10 , N20 coins will most likely compel Nigerians to use coins because those currencies are still in use for petty goods/services. well, sorry because there's another problem. in developed countries you cite, there are machines that enables you convert your load of coins into notes. how many of such do you have in Nigeria? this makes haulage very cumbersome and anyone dealing in a business that involves such denominations [such as bus drivers/okada riders, small scale traders etc] will consider it a herculean task carrying bucket loads of coins. such difficulties could foster them to increase prices to the nearest naira note even if it means compelling you to get more in order to pay in the nearest naira note. a typical example is the popular minty candy - 'tom-tom'. initially, at a time, it was sold for 1.50k naira coin or so, but in no time, marketers started demanding you must buy 3 for the nearest naira note [N5]. these are market dynamics that should be put into consideration. often, such market dynamics are determined by socio-cultural factors. think again man!

Thank you bros!

I ponder on the kinda Democracy in practice in 9ja, where a public servant assumes office and take order with forces of power instead of authority. Its in Nja democratic settings that the public are only recognized as existing in terms of election that has no value coz the results are always up-turned to favour already selected candidate. Notwithstanding, in the election the publics are been recognized as existence but in decision making or taking nothing like publics. In the case of LAGIDO, d CBN Gov. and the 5k Note introduction. The public majority is saying "NO" but the Lagido is saying "No stopping him on the decision" Hmmm, dog wey go lost no dey hear hunters whistle and Bible also says "Child that fails to listen to correction, live for destruction" but make dis LAGIDO no lead Nja's follow am ooo, make only im go face im thing. GOD SAVE OUR (9ja) FUTURE, AMIN

pato405:

your thinking is skewed and so biased to favour 5k by all means. you are not being rational!I'm not an economist but I can be more objective. have you compared the prices of goods/services ''back in time'' to what it is now? then the kobo had value. there was so much you could do with it. however, years down the line, with introduction of higher currencies and inflation, the kobo lost its worth. funny enough our economic policies and pricing strategies hardly favour policies/interventions that will preserve the kobo. you are quick to point out that in Britain, Nigerians use the 1 pound coin but you seem to be oblivious of the fact that £1 coin has market/economic value. if you are observant you'll notice the pricing trend in most supermarkets preserve the value of denominations in coins. for example in most supermarkets, you'll find the price tag of goods/products deliberately bearing or ending in 98p [so you get a 2p balance] or adverts such as buy 2 for a pound or 1 for 75p. infact there is even a shop/supermarket known as 1 pound shop [1 pound land] where everything goes for a pound. does that that apply in Nigeria?

Arguably, Nigerians are 'averse' to coins not because of the popular belief that it's heavy or whatever, but because it can hardly fetch anything meaningful..not even the cheapest biscuits. btw, you may be poised to argue at this point that introduction of N5, N10 , N20 coins will most likely compel Nigerians to use coins because those currencies are still in use for petty goods/services. well, sorry because there's another problem. in developed countries you cite, there are machines that enables you convert your load of coins into notes. how many of such do you have in Nigeria? this makes haulage very cumbersome and anyone dealing in a business that involves such denominations [such as bus drivers/okada riders, small scale traders etc] will consider it a herculean task carrying bucket loads of coins. such difficulties could foster them to increase prices to the nearest naira note even if it means compelling you to get more in order to pay in the nearest naira note. a typical example is the popular minty candy - 'tom-tom'. initially, at a time, it was sold for 1.50k naira coin or so, but in no time, marketers started demanding you must buy 3 for the nearest naira note [N5]. these are market dynamics that should be put into consideration. often, such market dynamics are determined by socio-cultural factors. think again man!

So how were they carrying the coins previously? Using Ghana must go bags I think? Or how is that argument tenable? Bus conductors carry coins previosuly and give people coins as changes. So because coins are bulky, then it should not be in circulation? I hear you.

.

dozydre: This man most be a dumas$ for saying this, whether u like it or not u most listen to us[nigerians] that will be the only thing that will still keep u there.

Yes - occupy Nigeria - heard Bakare is planning on one of such again.

Rememba dat,GOD is watching us.i wont say more dan dat.

werepeLeri:

So how were they carrying the coins previously? Using Ghana must go bags I think? Or how is that argument tenable?

I have said it before that economics sounds Chinese to u and u shied away from accepting the truth! how difficult is it for u to understand these simple things that even my primary school cousin will easily interpret?

ifeci:

Yes! I am an advocate of the masses! whom u and ur paymasters are making life more and more difficult for every second by the imposition of foolish policies. poverty and wealth are choices as u pointed out but wot u lack is the definition of both words.

You are one unhappy commander of the masses, and a very bad one at that. How will introduction of N5000 be a disadvantage to the masses ? Mr. King of the Poor, Is it not better to hold a single piece of 5k Note than carry bundles of dirty wads ? Introduction of 5k note is more of a blessing than a curse, cos bank will spend less ferrying cash with bullion. The market women will carry less bundles of lower denomination with the introduction of 5k note. The CBN will spend less money by minting high value notes instead of spending more to mint low value legal tender. Nigerians will relax on purchases of dollars from the BDC to store in dollars due to unpredictable shift in Naira value. With less purchase of dollars and pounds, Naira value will be more stabilized and controlled. King of Poverty, did I mention that there is no single proof that this move will cause inflation ? Inflation is caused by having excess liquidity in the system, naturally this is curbed by increasing taxation to mop up the excess liquidity, but with introduction of the 5k Note, the volume of cash in circulation in the system will remain the same, while the number notes flying around will be drastically reduced. Meaning, it is a plus to the system, It will improve the standard of living. King of Poverty, First Degree is not enough, before you challenge people that have 2-3 Masters Degrees, always know that your knowledge of economy is not enough to challenge even a PGD in elementary education. Tell the masses you represent that your knowledge base is not enough to represent them. QED!

dozydre: This man most be a dumas$ for saying this, whether u like it or not u most listen to us[nigerians] that will be the only thing that will still keep u there.

He is learning from Ebele who equally doesn't give a damn! anything goes in this GVT.

werepeLeri:

Yes - occupy Nigeria - heard Bakare is planning on one of such again.

i guess this our leaders are yet to see the strenghth of the masses taking to the street. Let them know that the falling of the yellow leave is a warning to the green leave.

werepeLeri:

abegi - kindly stick a corn hub inside your butt hole.

coming from someone who said 'i'm not among those throwing insults in cyberspace'. You're really brain-'less'

ifeci:

I have said it before that economics sounds Chinese to u and u shied away from accepting the truth! how difficult is it for u to understand these simple things that even my primary school cousin will easily interpret?

simple question - arrant answer.

How were the coins being carried or ferried previously. Give me an answer instead of ranting like a pig with an attitude.

In essence, this mallam in indirectly blaming gej for non performance and the reason for his unpopular policy due to no cash reserve to buffer the economy.
No wonder the president couldn't talk, the mallam is cleaning his mess.

ujchief:
coming from someone who said 'i'm not among those throwing insults in cyberspace'. You're really brain-'less'

Much like I wasnt talking to you, there is no point repeating yourself - I am brain less - yes, agreed. No need repeating yourself. I guess you dont know the meaning of "without a reason"....I thought you were reasonable,.

@ifeci

You have gone into hiding, thats what little militia do when they see higher fire power. ignorance is dangerous, so is half-education!

billante:
The problem is that the CBN is the only institution doing anything. Roads are not being built. We have no new airports. No progess on new power plants. No rail lines. So every time we do something all hell breaks loose.

I like how he takes a dig at the system here. The only non-depressing comment in the entire piece.

Billyonaire: @ifeci

You have gone into hiding, thats what little militia do when they see higher fire power. Illiteracy is dangerous, so is half-education!

Dont mind the Professor Smart - simple question and he rages like a mad pig.

werepeLeri:

Dont mind the Professor Smart - simple question and he rages like a mad pig.

When it comes to Strategic Tactics to revamp an ailing economy, every jack claims to represent the masses. They very masses they dont stop to give a lift on their way back from work. Ifeci is an Hypocrite. I am waiting for anyone to proof to me that the move by CBN will cause inflation.

Billyonaire: You are one unhappy commander of the masses, and a very bad one at that. How will introduction of N5000 be a disadvantage to the masses ? Mr. King of the Poor, Is it not better to hold a single piece of 5k Note than carry bundles of dirty wads ? Introduction of 5k note is more of a blessing than a curse, cos bank will spend less ferrying cash with bullion. The market women will carry less bundles of lower denomination with the introduction of 5k note. The CBN will spend less money by minting high value notes instead of spending more to mint low value legal tender. Nigerians will relax on purchases of dollars from the BDC to store in dollars due to unpredictable shift in Naira value. With less purchase of dollars and pounds, Naira value will be more stabilized and controlled. King of Poverty, did I mention that there is no single proof that this move will cause inflation ? Inflation is caused by having excess liquidity in the system, naturally this is curbed by increasing taxation to mop up the excess liquidity, but with introduction of the 5k Note, the volume of cash in circulation in the system will remain the same, while the number notes flying around will be drastically reduced. Meaning, it is a plus to the system, It will improve the standard of living. King of Poverty, First Degree is not enough, before you challenge people that have 2-3 Masters Degrees, always know that your knowledge of economy is not enough to challenge even a PGD in elementary education. Tell the masses you represent that your knowledge base is not enough to represent them. QED!

Even as tiny as ur brain is with ur unverified five masters degree and PGD, Please wot happens when I buy somtin worth of #100 0r #200 with ur #5000 note wot will my excess cash change be? Daft m0r0n, how will the printing and storing of #5000 note stop the unpredictable shift in dollar which is primarily caused by fluctuations in exchange rate. ur understanding of inflation is so horrible with ur one sided brain! do u even understand the difference between monetary inflation and price inflation? do u also know that the introduction of #5000 note will fuel a parallel economy which limits the CBN's control and knowledge of cash in circulation. Wot do u even know, Mr. Daft apart from wot sanusi tells u with his masters in Sharia? or does sharia have a borrowed course on economics?

werepeLeri:
[quote author=werepeLeri]

So how were they carrying the coins previously? Using Ghana must go bags I think? Or how is that argument tenable? Bus conductors carry coins previosuly and give people coins as changes. So because coins are bulky, then it should not be in circulation? I hear you.

it's obvious you didn't witness all these evidences you put up, else, they wont form the basis for your argument. those who witnessed that era can tell you categorically, that it played a major role in the current inflated prices of fares. have you stopped to ask yourself what they did with the truck-load of coins at the end of the day and how easy it was to convert to notes?

you aristocratic class only think of yourselves. I was expecting you to put up the argument that coins-to-note converting machines will be installed all over the place just as ATMS [as you have in many developed countries]..but I guess you wont think that far. as far as you are concerned, they should go through the rigour of queuing in banking halls to convert their 'ghana must go' bags or buckets of coins to few notes while you rich brats simply use the ATMS to withdraw your clean wads of N5000. well advise your financial evil genius SLS to as well convert N100, N200 & N500 to coins while he further prints N10k and N100k. that will do you gys a lot of good. I'm pretty sure when this starts all ATM will dispense only N5000 minimum. that will definitely keep the poor off your track. very crafty strategy of going cashless. cashless my foot!

I find it hard to see how the advent of the N5,000 note which will make it FIVE TIMES easier for individuals to move cash around will encourage cashlessness. Stumps me. I thought the smart money would be on, the smaller the denominations available, the less inclined one would be to want to hold cash.

Billyonaire: You are one unhappy commander of the masses, and a very bad one at that. How will introduction of N5000 be a disadvantage to the masses ? Mr. King of the Poor, Is it not better to hold a single piece of 5k Note than carry bundles of dirty wads ? Introduction of 5k note is more of a blessing than a curse, cos bank will spend less ferrying cash with bullion. The market women will carry less bundles of lower denomination with the introduction of 5k note. The CBN will spend less money by minting high value notes instead of spending more to mint low value legal tender. Nigerians will relax on purchases of dollars from the BDC to store in dollars due to unpredictable shift in Naira value. With less purchase of dollars and pounds, Naira value will be more stabilized and controlled. King of Poverty, did I mention that there is no single proof that this move will cause inflation ? Inflation is caused by having excess liquidity in the system, naturally this is curbed by increasing taxation to mop up the excess liquidity, but with introduction of the 5k Note, the volume of cash in circulation in the system will remain the same, while the number notes flying around will be drastically reduced. Meaning, it is a plus to the system, It will improve the standard of living. King of Poverty, First Degree is not enough, before you challenge people that have 2-3 Masters Degrees, always know that yo QED!

billygoat, ur hypothesis is flawd in all dimension. The simple question which u'll avoided is 'why introducing a N5k bill while proposing a cashles economy?' these two policies are divergent. 5k bill makes it easy to pocket N2mil cash, yet u want us to go cashles and base most of our spendings on e-money.
Next question, how wil the volume of cash in circulation stil remain the same while u're planing on pumping new N5k notes worth over N40bil into the system? Is he going to retract some old bills in tune of N40bil and set them ablaze?
Next question, sls said the coins wil not replace the old notes, that both wil be used in parallel, until the old notes gradualy fades out, isnt this stil one of the factors causing inflation? Exces cash in circulation?
I hope u 3 masters degree and ph.d wil help explain this beter.

billante:

“My job is to do my best in whatever circumstance I find myself. I did not choose this time to be CBN governor. If we have fiscal leakages and reserves are crashing and naira weakening I have to tighten naira supply. Interest rates go up everyone attacks SLS. But you can't have low rates with high inflation, a weak naira and no reserve buffers. You can’t eat your cake and have it.

The problem is that the CBN is the only institution doing anything. Roads are not being built. We have no new airports. No progess on new power plants. No rail lines. So every time we do something all hell breaks loose.



http://dailypost.com.ng/2012/09/15/introduction-n5000-note-nigerians-wasting-time-sanusi-lamido/

What SLS is saying here is that he is taking care of his own side, we need to confront those whose actions or inactions are forcing CBN to react as she is. Those responsible for roads, infrastructure, spending money any how, payment for contracts without execution etc etc.

ifeci:

Even as tiny as ur brain is with ur unverified five masters degree and PGD, Please wot happens when I buy somtin wot of #100 0r #200 with ur #5000 note wot will my excess cash change be? Daft m0r0n, how will the printing and storing of #5000 note stop the unpredictable shift in dollar which is primarily caused by fluctuations in exchange rate. ur understanding of inflation is so horrible with ur one sided brain! do u even understand the difference between monetary inflation and price inflation? do u also know that the introduction of #5000 note will fuel a parallel economy which limits the CBN's control and knowledge of cash in circulation. Wot do u even know, Mr. Daft apart from wot sanusi tells u with his masters in Sharia? or does sharia have a borrowed course on economics?

* Firstly, Your change will be 4,900 or 4,800 naira respectively: This is elementary arithmetics and a 3 years old kid can solve that, yet you didn't know. So you have an IQ of a kid less than 3 yrs old.
* You said inflation is caused by fluctuation in exchange rate, YET, you are IGNORANT of what causes "fluctuation" of exchange rate. It is called the LAW OF DEMAND AND SUPPLY, and in this context, the demand/supply of the foreign currencies. The demand of currencies are high when big earners demand more foreign currencies, mumu! Let me explain again. Nigerians buy billions of dollars/pounds/euros daily (1) With the cashless policy, there is a limit what how much your bank can pay/accept without charges and since our mindsets had been wired to cash economy, we still find ourselves searching for cash to make huge purchases like cars etc, so we keep looking for a way to carry this cash around by buying alternative valuable legal tender that has little or no cash limitation and thats where foreign currencies come in handy. For example, I needed to pay 8m for something last week and I could not get draft, what I did was buy $50,000 dollars in cash (which happened to be just a small bundle) compared to naira and I paid the seller. People also buy dollars/pounds/euro to save in their Dom Accounts cos its more stable storing funds in more stable currencies. This is what causes the high demand of hard currencies which leads to devaluation of Naira and the attendant inflation. Mumu, Central Bank is indeed doing the right thing by introducing higher denominations. It is like using 1 stone to kill 2 birds. Instead of increasing taxation to fight inflation which will hurt the economy, it genius to mint higher value notes.
* I think you are stvpid to bring up the issue of monetary/price inflation, cos I dont think you actually know what you are talking about, when CBN is mopping up excess notes and introducing a higher denomination, only a brain fellow like you will be asking that silly question. Nematode!
* The Idea of a parallel economy is as shallow as your knowledge of your village. Only God will save you from your ignorance. Stop smoking weeeeeeds....Get a job and stop thinking poverty.

pato405: it's obvious you didn't witness all these evidences you put up, else, they wont form the basis for your argument. those who witnessed that era can tell you categorically, that it played a major role in the current inflated prices of fares. have you stopped to ask yourself what they did with the truck-load of coins at the end of the day and how easy it was to convert to notes?

you aristocratic class only think of yourselves. I was expecting you to put up the argument that coins-to-note converting machines will be installed all over the place just as ATMS [as you have in many developed countries]..but I guess you wont think that far. as far as you are concerned, they should go through the rigour of queuing in banking halls to convert their 'ghana must go' bags or buckets of coins to few notes while you rich brats simply use the ATMS to withdraw your clean wads of N5000. well advise your financial evil genius SLS to as well convert N100, N200 & N500 to coins while he further prints N10k and N100k. that will do you gys a lot of good. I'm pretty sure when this starts all ATM will dispense only N5000 minimum. that will definitely keep the poor off your track. very crafty strategy of going cashless. cashless my foot!

Dude- Abeg. chill. answer simple question, you talkin nonsense.

How were the coins being carried previously? You raised a point, I asked a question based on what you said. Answer- save the rhetorics. This is NairaLand. Simple question - answer it- save all the lingo. Who cares the fu ck about you if you are poor? How many of them have you fed today? I see you hate the rich so much - look, noone can help you if you are poor - doesnt mean everyone should remain like you.

Back to the question - how were the coins being ferried about previously? The bus conductors who we use to pay in coins - the market woman we use to pay with coins, how is it now an issue about how they will carry the coins? How were they carrying it before? Where is your proof that fares went up because people used to pay with coins? Damn.

Salusi or whatever....... You should have watch Ūя̲̅ tongue before speaking out,'you don't want to know and you don't care-we are wasting our precious time' don't forget we are †ЂΞ people to spend †ЂΞ money - begin †ЂΞ CBN Governor doesn't mean you a God dat won't seek for others opinion-ur brian didn't boot to remove one zero from all our currency to have (N10 as 1kobo, N20 as 2kobo, N50 as 5kobo, N100 as N10, N200 as N20 and N1000 as N100) so that our currency can more valued than before, in such case atleast 20 naira will valued more than 1$-All you want Iƨ̣̣̣̇̇̇̇ fame...... Guy you are popular already don't use N5,000 show yourself, we knew you exist. Barga

ujchief:
billygoat, ur hypothesis is flawd in all dimension. The simple question which u'll avoided is 'why introducing a N5k bill while proposing a cashles economy?' these two policies are divergent. 5k bill makes it easy to pocket N2mil cash, yet u want us to go cashles and base most of our spendings on e-money.
Next question, how wil the volume of cash in circulation stil remain the same while u're planing on pumping new N5k notes worth over N40bil into the system? Is he going to retract some old bills in tune of N40bil and set them ablaze?
Next question, sls said the coins wil not replace the old notes, that both wil be used in parallel, until the old notes gradualy fades out, isnt this stil one of the factors causing inflation? Exces cash in circulation?
I hope u 3 masters degree and ph.d wil help explain this beter.

Despite the fact that you insulted, I will calm down and explain to your understanding, i hope you follow me on twitter so I can keep "educating" your "ignorant" mind forever.

No country runs a totally cashless economy, not even USA. So the policy is actually. Neo-Cashless Policy. That being said; The intention of the policy is to make sure that we do not have excessive cash in the economy by promoting electronic and mobile banking. Listen, If you agree with me that Cashless Policy is to reduce the huge cash volumes in circulation that people move around, what will introduction of N5k Note do ? Ujchief, it is also to help reduce the volumes of cash you carry around, so in essence, THE INTRODUCTION OF 5K NOTE IS PRO-CASHLESS POLICY. Both policies promotes reduction in quantity of legal tender that is being carried around among other things. Having educated you now on how the 5k Note policy is pro-cashless, who is the Goat? Nairalanders agree with me that you are the Grand commander of all the Goats in your village. F00l

werepeLeri:

Dude- Abeg. chill. answer simple question, you talkin nonsense.

How were the coins being carried previously? You raised a point, I asked a question based on what you said. Answer- save the rhetorics. This is NairaLand. Simple question - answer it- save all the lingo. Who cares the fu ck about you if you are poor? How many of them have you fed today?

Yes! sense is nonsense to cretins like you and nonsense makes sense to them. Sanusi's nonsense makes so much sense, yet simple street economics explained with the simplest of commodities [tom-tom] even understood by a toddler remains incomprehensible to you. i no fit shout. they carry the coins in that your empty forehead looking like palm wine gourd.

does any one have records of what Soludo gave as reasons for changing 1 naira and fifty kobo to coins?

we all know hat happened after but if you have links as to what he said before the change as per the usual economic jargos: monetary policy, inflation, currency dynamics bla bla bla bla.

lets have it and see if they are any different from what General Sanusi is saying now.

pato405:

Yes! sense is nonsense to cretins like you and nonsense makes sense to them. Sanusi's nonsense makes so much sense, yet simple street economics explained with the simplest of commodities [tom-tom] even understood by a toddler remains incomprehensible to you. i no fit shout. they carry the coins in that your empty forehead looking like palm wine gourd.

U are one of those who resort to insults to make a point. Speaks so much about who you are. No wonder. Answer simple question - u turn yourself to a pig. Sorry- move past.