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CBN To Inject More Lower Naira Denominations - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / CBN To Inject More Lower Naira Denominations (7932 Views)

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Re: CBN To Inject More Lower Naira Denominations by Kx: 10:23am On Apr 10, 2013
Someone kindly clarify this:
Is d cbn quest for lower denomies not contrary to d reasons previously canvassed for
A) N5000 note?
B) cashless and cashlite policies?
C) is currency denomies d reason why d Naira has got low values comparatively?
Re: CBN To Inject More Lower Naira Denominations by davades(m): 10:47am On Apr 10, 2013
Okija_juju:

And their rate of wear and tear nko?!

Do you know how much UN-TENDERABLE Polymer notes we have in the system?! If those bills have the highest circulation, then change them to coins and save us the stress.

Polymer note is crap! Bring back the Paper bills or make them into coins.

Can u urself spend coins?
Re: CBN To Inject More Lower Naira Denominations by megareal: 10:55am On Apr 10, 2013
They should do it ASAP. Been wondering where all the lower denomination notes went.
Re: CBN To Inject More Lower Naira Denominations by Nobody: 11:18am On Apr 10, 2013
Ok
Re: CBN To Inject More Lower Naira Denominations by Okijajuju1(m): 11:22am On Apr 10, 2013
davades:

Can u urself spend coins?

Why not?!

No worry, ask those wey do live abroad the same question.. If there is a reason to spend coins, why wont I spend coins?! Say I no day carry polymer notes for wallet no mean say I no dey spend am. My issue is that they are not durable at all.
Re: CBN To Inject More Lower Naira Denominations by KwoiZabo(m): 11:39am On Apr 10, 2013
The problem is that the ATM machines only vomit 1000 naira notes. So even when they flood the banks the problem of change will still persist
Re: CBN To Inject More Lower Naira Denominations by chrisxxx(m): 12:39pm On Apr 10, 2013
I raised this observation yesterday and it was not posted to the front page. This promise of CBN has come to show that they are conversant with development discussed on nairaland. Below was my post yesterday:
With keen observation I have come to notice the gradual withdrawal of #50,#20,#10 and #5 from circulation. I dont know if this is a localized issue based on my state of residence or a nationwide trait. My observation is based on the scarcity of this lower denominations in everyday business transactions. I think Sanusi is this time unannounced and gradually carrying out his shed plans of archiving these notes and perhaps coming up with the introduction of #5000 note.
Re: CBN To Inject More Lower Naira Denominations by oyakhi(m): 1:44pm On Apr 10, 2013
check this out

Re: CBN To Inject More Lower Naira Denominations by luluosas(m): 2:52pm On Apr 10, 2013
mr_man: Just redenominate the damn thing already. Make 100naira the highest denomination.
100% in support. Can you imagine how Ghana Cedis is doing far better than Nigeria naira after re-denomination?
Re: CBN To Inject More Lower Naira Denominations by Okijajuju1(m): 2:59pm On Apr 10, 2013
luluosas:
100% in support. Can you imagine how Ghana Cedis is doing far better than Nigeria naira after re-denomination?

The sad part is that this Nigga believes this crap...
Re: CBN To Inject More Lower Naira Denominations by Boazizzy08: 3:16pm On Apr 10, 2013
that is why CBN has decided to produce more lower currencies. it is a good development.
otokx: confusing confusion, all denominations below 200 are currently scarce.
Re: CBN To Inject More Lower Naira Denominations by Nobody: 4:47pm On Apr 10, 2013
Cluelessness.

This man is always seeking RELEVANCE.
Re: CBN To Inject More Lower Naira Denominations by str8talk1: 4:50pm On Apr 10, 2013
While d CBN has alwayz engaged in theoretical monetary policy,itz commendable 2 c CBN trying 2 embark on grassroot/practical monitary policy.
Any body interested in knw my opinion on monetary shld go 2 my previous post of last year during SLS intention 2 introduce N5k note.
Re: CBN To Inject More Lower Naira Denominations by Masiya(m): 6:48pm On Apr 10, 2013
Let 100 naira be the highest denomination and you see inflation reduce to the lower ebb in the country. bigger denomination, bigger wahala.
Re: CBN To Inject More Lower Naira Denominations by Blazinraj01(f): 8:41pm On Apr 10, 2013
Okija_juju:

Polymer notes go into my glovebox. I currently have over 4000 Naira in 20s, 10s, 5s and 50s in my car. Meaning I dont carry them around in my wallet.
So, you are the one hoarding the change for our bus fare? shocked
Re: CBN To Inject More Lower Naira Denominations by Nobody: 9:22pm On Apr 10, 2013
T-smooth:
Those lower denominations like fifty kobo & one naira should be use to stone birds and nt for transaction.
Yea, like when you buy sweets@ 5naira each, instead of 3naira or when you buy 1 litre of PMS @ 100 instead of 97. Even d so called developed economies USE COINS. If your type dey there, u will use them, but here for na for hunting birds according to u shey? U no try o
Re: CBN To Inject More Lower Naira Denominations by Nobody: 9:23pm On Apr 10, 2013
T-smooth:
Those lower denominations like fifty kobo & one naira should be use to stone birds and nt for transaction.
Yea, like when you buy sweets@ 5naira each, instead of 3naira or when you buy 1 litre of PMS @ 100 instead of 97. Even d so called developed economies USE COINS. If your type dey there, u will use them, but here for na for hunting birds according to u shey?
Re: CBN To Inject More Lower Naira Denominations by Nobody: 10:20pm On Apr 10, 2013
one moment they want to introduce a high denomination the next moment they want to introduce lower currency

the only constant thing here is a penchant to just print new money

why cant we leave our money the way it is for a while?
Re: CBN To Inject More Lower Naira Denominations by vandarsar(m): 1:08am On Apr 11, 2013
You're invariably calling for a price control, it won't work. Just let the naira undergo redenomination.



chiover: making 1000naira the highest denomination won't solve anything, rather the govt has to make policies that would encourage our local industries both Govt and private to produce goods that are to be sold at 1,2,3,4 and 5naira respectively.

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