I think it's a welcome development as the Polymer notes could hardly withstand the test of time... it doesn't fit into the Nigeria system because of how brutish we handle currency...

mikelreal: bros soludo has ntn to do with the exchange rate of dollar to naira, neither does the entire cbn, it all depends on how much a country's exports exceeds its import, i.e if we export more, naira wil be stronger, and vice versa

Don't mind them. No 2 champagne quaffers, Porsches as official cars and an aggressive private jet market that will make arabian kingdoms green with envy all resting on one thing - crude oil that pirates are now sharing.

I laugh. Where is the productivity behind any thought contrary to a falling currency value.

Kokofi: I think it's a welcome development as the Polymer notes could hardly withstand the test of time... it doesn't fit into the Nigeria system because of how brutish we handle currency...

They are substantially more hygenic than paper notes. We should not forget that these notes reside predominantly amongst those that consider personal hygene exotic practice - market people, commercial transport and of course the boys in black. Polymer resists ther sweat, goo and microbes paper absorbs, hosts and transmits. Just get better polymers.

Okija_juju: FINALLY!!!

Shey when I said it that this Polymer Business was pennywise, pound foolish, some imbec!les attacked me.. Atleast a paper bill would tear and be re cellotaped, but polymer fades of.. Infact, some polymer bills are so bad, you cant even tell what denomination of currency you are holding.

This is a welcomed development!!

What if we were into recycling full-time? One of the things wrong with Nigeria is not that we cannot have the bullet trains that ply the rails of the Japanese and French; the maintenance spirit is not just here. Let somebody tell'em that we could recycle these 'faded' notes, incurring less cost in the process of making new notes.

What the phuck is wrong with this country? Am getting tired of being a Nigerian!!! [color=#000099][/color]

bunch of confused fellow!!!!!!!!

U09ce: CBN To Change N5, N10, N20 and N50 From Polymer To Paper

CBN is poised to stop the printing of small denomination Naira in polymer notes because they fade quickly.

Its Deputy Governor, Mr Tunde Lemo, disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday in Washington on the sideline of the ongoing Spring Meeting of the World Bank and the IMF.

``By the middle of the year, we will start to produce the second generation of lower denomination notes, now in paper not in polymer.’’

``My plea is that Nigerians should exercise patience with us; it wasn’t the fault of the CBN, it was just because we had to go back to the drawing board to rethink `Project Cure’ in the light of the wish of the public that we should not go ahead with the N5000 notes and lower denomination.

``We will correct that in the course of the year. Polymer certainly will be phased out. In fact, we are phasing out polymer. No new note is being printed in polymer now.’’

Lemo told NAN that when the CBN was going to introduce the polymer currencies, its search showed that they could last longer than ordinary paper notes.

``However, with the benefit of hindsight, we probably should not have dumped polymer because, yes, the substrate lasts longer, but the in-consubstrate began to fade; we didn’t realise that at the time of introduction.

`` So, part of `Project cure’ actually was actually to move away from polymer substrate to paper, unfortunately we had a push-back because of the issues around N5000 note and coins.

``The entire program was put in abeyance, otherwise by now we should have stopped producing polymer.’’

He said that the CBN had awarded a contract for the printing of the higher denomination notes to a foreign company because of low capacity at the Nigerian Printing and Minting Company.

He said the CBN would begin to receive the fresh notes from June.

On the campaign on the careful handling of the naira, Lemo said that it was unfortunate that the campaign was not successful, but noted that it was a criminal act to abuse the naira going by the CBN Act.

``Unfortunately, CBN is not a law enforcement institution; we left that in the hands of the law enforcement institutions and that has not kicked in.’’

I still go to parties and see people spraying money, stepping on money, I see touts distributing mint-fresh money that should go to customers.’’

Lemo also told NAN that the CBN had talked to the police to step up its surveillance to reduce the abuse of the naira adding that the bank had no right to arrest people who sold the naira on the streets.

He said that the act of abuse and sale of the naira by touts had defeated the clean note policy of the bank, but assured that efforts were being made to tackle the problem. (NAN)

http://leadership.ng/nga/news/210413/cbn-change-n5-n10-n20-and-n50-polymer-paper

these white collar thieves have come again, so as the masses rejected the N5k note they had to go back to the 'frauding' board to draw up another avenue to chop that money.


So before we wasted money printing all those currency before these f00ls didnt do proper tests and research?

9ja pele ó

Michaeljones36:

Wats wrong with a 5k note?

Micheal Jackson or whatever you call yourself, don't start been silly. OK?

chinedum45: When Soludo was leaving CBN dollar was 138# since sanusi entered it has been btw #157-#162...he is the worst guy for that job.....causing panic and unnecessary policies....aboki that is supposed to be shining shoes.

he's behind the problem of this country.

We no greeooooooooooo,dis man, u wan do am by All means.

Polymer is used in Canada for the big notes. You hardly see old or faded ones anyway. Good to behold and nicer than the notes. Guess Nigeria is not ripe for its use cos of maintenance. Soludo meant well for its introduction except the Nigeria factor was not well considered.

To me, it is just like everyone wanna make a mark...Mr A brought his own idea, Mr B said...this is how it should be. Okay ooo, print am with Gold...we go spend am.
CBN...oga

Inconsistent policies is becoming another name for Nigeria.

Leadership newspaper again, do u fink it sound right that d deputy gov of CBN will go to washington DC to tell them that the govt of Nigeria is planning to change it currency. When the country that actually uses d currency has not heard it yet. E be like say dis news papers are really reporting dem news d way 12 year old kids do it.

The policy were never meant to be of any benefit to the populace but rather to enrich and serve the interest of few people in the corridor of power. Contracts has been awarded before the declaration to the public so there wont be a deliberation/consideration/cancellation by the general public ( lesson learnt from #5000 era ). One day monkey go go market e no go gree com back

That is the evidence of born to rule in Abokingdom. How can an Apex bank Gov. tell the public that no proper search waz made b4 the production of polymer note? Okay!!! What happened to the money spent? Wasteful govt., no proper calculation always looking for avenue to share money with their useless policies. Since the hope of printing 5k is lost,Aboki now put reverse. I know one day the anger of God Almighty will visit them. He want to make money for his political career.

chinedum45: When Soludo was leaving CBN dollar was 138# since sanusi entered it has been btw #157-#162...he is the worst guy for that job.....causing panic and unnecessary policies....aboki that is supposed to be shining shoes.

What do you expect from a man who hold a degree in Islam from a non-accredited university in Sudan yet bamboozed Nigerians with failed plagiarised policies parading himself like an economic guru,the truth is that the people who appointed him are educated-illiterates and were carried away with those vocabularies Sanusi crammed in Oxford dictionary.

pipeewa: Polymer is used in Canada for the big notes. You hardly see old or faded ones anyway. Good to behold and nicer than the notes. Guess Nigeria is not ripe for its use cos of maintenance. Soludo meant well for its introduction except the Nigeria factor was not well considered.

Were you trying to say "Aboki Sanusi?
Soludo was exceptional,that aboki called Sanusi destroyed the good foundation laid down by Soludo with his failed plagiarised policies.

We should encourage our own security printing firm to be able to cater for our demand. They should print more of the lower based denominations too. Sanusi is not doing badly in my opinion.

tomakint: Signs of incompetences revealed again on the part of our so-called leaders, they shoyuld have considered thoroughly the durability of the polymer before phasing out the paper notes! Well, this is a welcome development, the polymer idea was indeed a colossal failure

if the common man can reason like this , why not the leaders? that is to show you that they know what they are doing , they knew that the polymer wont last , but they still went ahead because of their hidden agenda to steal money

Nigerian leaders wake up to decide without considering d massis, they came up wt d idea of a polymer currency without letting us to know and now they want to face it off without our consent, what a clueless set of leaders.

He lacks professional charisma. ℓ̊ see ‎​Ϟo difference btw him anϑ his retardeen,GEJ.