R.I.P. Naira *crying*

Our dear naira losing its value day by day.what a shit!

alj harem: Buhahahahahahahahahahahahahahahahahahaha My belle oh !!!!

Well those that did wanted fuel subsidy to be removed without any other source of revenue are seeing it now.

Very soon it would be 1000000 note for ONE peak milk

Bunch of tribalistic iddeeiots. Maybe Asari and Ohaneze can explain this

Chai I miss Gani and Fela

Seriously, what is wrong with you? How does this relate to fuel subsidy? Besides, was subsidy creating revenue or even bigger expense for us?

Viewing this topic: emmyitodo, Prettypresh, LEGSTRONG(m), 9icelag, Zeus Zuco, 702, hoodboy(m), Honeyhill, Lilprocess(m), Konnektions146(m), Rcih , But_one_day, ucheo, tafiya, chidex101(m), chrizfasa, nelsono(m), ife_lekan(m), Valmesk(m), shesco(m), dabrake(m), Felixadded, SHOGUN13(m), Masanto, wave@, BlackPikiN, manny4life(m), francis247(m), Nukleos-Shakur, PeeDaVinci, bayleaf(m), hipinnacle, Guapo(m), ItsModella(f), bandiejay(m), Dawdy, deeteeneey(f), nerodenero, Excelboi(m) and 54 guest(s)

omo, people dey vex oh. e wan be like sey na chelsea match

that does it!!! i must start getting ready to leave this country!!!! before we become like cotonou

bandiejay: [size=14pt]I Only pray to God almighty to plz grant me favor In Nigeria and do not let me suffer as Nigeria Economy Suffers this is my Wish Olord if dem like make dem print 20million naira in 1note i dey hia dey wait.[/size]

Well-prayed.

If dis is dne, thn I wundr wat da essence of goin cashless is

Omonile, abeg borrow me one ojuku?

Nt surprised! De v had dis in mind 4rm d onset wen de introduced d #200, #500 n #1000 notes.

:Ddis is a new developmentdis is a new developmentdis is a new development

slumcat: wit d way tinz are going, i'd be glad if d colonial masters can come back n take over power from these donkeys.

E 4 beta o

Dipwater: And they say these guys are not members of illuminati .

Really? dude..
Soon enough we'd hear "mama Sikira jus throway my baff wata. e be lik say she don join illuminati"

mxxpunkxx: so if a note should fall out of my back pocket unknowingly,
it invariably means i have lost #5,000, ehn, God forbid!

Na 2 jst lost follow d money sef o

D coins dat was 'refurbished' d oda time, is it stil existing? Can a common man on d street use it, r banks 'practically' accepting it?
If #50 is changed 2coins, dat means what we get for 50naira will automatically move to 100naira n above.
Will dat Mallam tel us d 2000 n 5000 policy is in line wt d cashless policy or anoda one. I SMH for Naija

When dis government is done wit its citizens, so many pple will b queueing at d seaport and borders volunteering to b slaves to neighbouring countries. Chai, we just select all d bad bad pple for nigeria put them together to make our lives hell.

Inflation ooooohh!!!!
If actually this news is solid, then I just wonder how they reason ...converting N50,20,10,5 to coins!!?... WTF!!!!
Why d_f**k did they remove coins in the 1st place!!??...
Removing coins in the first place still remains their greatest mistake when it comes to curbing inflation....
5000 and 2000 notes!?...
polithiefcians don dey smile oooohh!!!

Nigeria jaga, jaga, evrytin scatter, scatter, kposa, kposa!!

This is NIGERIA.

@LEGSTRONG, ur'e planning to leave the country, me i don't commot since go naturerise at abidjan, is beta cos half bread is beta dan chin chin.

That will not HAPPEN! You shall see!!

What is so bad about this?

N2000 is not even $20.

I don't think that introducing a $20 note would be considered revolutionary

what?!

Another Easy WAY to pack more money abroad.

Mallam Sanusi, Okonjo Iweala, Goodluck Jonathan & the economic team; are they educated at all?
Are they under a spell?
A first school leaver can even reason better then these people! …cashless society with the introduction of N2000 & N5000?
How stupid there are?

The universities they graduated from should be closed down for producing morons!

manny4life:


Seriously, what is wrong with you? How does this relate to fuel subsidy? Besides, was subsidy creating revenue or even bigger expense for us?

What do you think ? You are the economist here.

I as a layman know that the reason why a sensible person would justify this for her money is because the value of the current denomination hold nothing again (Little or no value).

Again why would Nigeria go for such ? Because we no longer control our prices (commodities). Ever since the fuel subsidy saga, prices of goods have risen and the so called promises that it would not affect the masses was betrayed. Thus inflation.

Prove to me that I am wrong.

There is no hope for this country. Let sanusi do all he needs to do before 2015 to despoil Naira. I am sure Nigeria will cease to exist after then and so we won't have to worry about Naira.

How come highest denomination in US is $100,British pounds is £50 and Euro is €500 despite the size and diversification of their economic base?

alj harem:

What do you think ? You are the economist here.

I as a layman know that the reason why a sensible person would justify this for her money is because the value of the current denomination hold nothing again (Little or no value).

Again why would Nigeria go for such ? Because we no longer control our prices (commodities). Ever since the fuel subsidy saga, prices of goods have risen and the so called promises that it would not affect the masses was betrayed. Thus inflation.

Proof to me that I am wrong.

You are right in your theory, however, fuel subsidy is not the primary reason why prices skyrocketed. After all, prices of fuel subsidy increased by about 50%, yes, prices in goods and services increased, but not at the % at which SLS has determined to put Nigeria into chaos. There were other factors as well, besides, this is a fiscal responsibility AND NOT a monetary policy. Did you see them give a reason for this? Answer is NO, because his policies is backfiring; from FOREX, to devaluation to shrinking of capital market, to high interest rate etc. What do you think will happen? What do you think will happen to market price? Now you blame fuel subsidy? Biko, this one is not fuel subsidy.

@Post

I see they are making it easier to steal huge sums of money. Oh well!

So, we are now copying Ghana, no wonder they called demselves pace setter. This ghana style joo!

manny4life:

You are right in your theory, however, fuel subsidy is not the primary reason why prices skyrocketed. After all, prices of fuel subsidy increased by about 50%, yes, prices in goods and services increased, but not at the % at which SLS has determined to put Nigeria into chaos. There were other factors as well, besides, this is a fiscal responsibility AND NOT a monetary policy. Did you see them give a reason for this? Answer is NO, because his policies is backfiring; from FOREX, to devaluation to shrinking of capital market, to high interest rate etc. What do you think will happen? What do you think will happen to market price? Now you blame fuel subsidy? Biko, this one is not fuel subsidy.

Biko biko, just cause you are good in economics does not mean "economic terms" to confuse me.

1. Whether primary reason or not, IT instigated it. Yes !

2. Price of fuel increased by 50 % after increasing by 150 % at the first place. Nigeria economy, once a price goes UP it never comes DOWN. Nigeria is not a first world country where prices are regulated. You should know how things work here in Africa.

I am sorry, the rest I don't understand, Again I am a layman