of course we can be! Nothing is impossible.

fstranger: PDP will succeed in the SW.

Succeed fire! well I knw u r jst joking

wellmax:
Level of Christianity indeed.

When time to marry reach, even pr0stitute go begin speak in tongues.

sheyguy:

Oga Jamaine, everything is wrong with cassava bread policy the way your president is going about it. Gej is tryin to forcefully substitute an imported item with a with a locally available, abundant and accepted one (for a diff. purpose) when he knows Nigerians aren't buy the idea of cassava flour. Why not encourage the local cultivation and production of normal flour or if it cannot be cultivate locally, we should be able to produce more cassava starch and eventually export it to cancel out what we loose in forex for normal flour.
But instead he would rather have it forced on us. Let him confront the mismanagement cycle in our agric sector and system at large instead. . . Don't forget he adopted this same approach in tackling subsidy mismanagement fraud when he choose to shift the subsidy payment to Nigerians.

As for the power generation capacity, i will be happy if GEJ,s govt can dissapoint me by generating enuf power to significantly improve electricity stability by then.

Advice: Jmaine is a paid poster, you cannot change his view no matter wot amount of English u r willing to speak, beta concentrate on other things because he puts his money first before his reasoning.

All those his self acclaimed achievements are contained in that book & only in that book alone! you can't see it anywhere

Coldfeet: You obviously can't read or simply can't comprehend simple English!!! The girls are being interviewed!!!!! By a reporter!!!!! Who asked them a stewped questions!!!! And they smartly answered it!!!!! But of course envy and mumuism wouldn't let you and co leave a sensible comment mtweews!

How did they smartly answer it? by giving their husbands condom when they r going out...dts smart enuf I guess.

jennykadry:

half naked photoshopped bodies with disgusting purple lip stick. have you seen their movies and the way the talk? lips are angrily shooting out like they just sucked on sour oranges. their accent and voice? very igbotic and undesirable, a man will hear their voice and lose erecti0n for the rest of his life.

Their stoopidty and quest for attention is annoying to say the least.

Chei! Fear catch me, I almost loose erecti0n reading ur comment!

who r these Ateke twins? are they Ateke toms offspring? Btw, Psquare r too fine and too tushed for these Atutu puyoyos'

He is just hiding under another user ID, the last I checked, he had about 7 user ID's and he was posting as Mandelaguy

Remii:

Bros, technically speaking inflation should be result of more money chasing few goods, am I right? Please tell me how introduction of higher denomination of currency will lead to increase in price of commodities if people's income are not increased and govt spending is controlled. Only Nigerians mentality can lead to artificial inflation if out of arrogance you want to show off by spending N5k notes unnesseccasily or decide not to take or spend coins. If pure is continued to be supplied to sellers at present price, would you pay N50 for a sachet just because N10 is in coin?

Bros, technically speaking, inflation is not just a result of more money chasing fewer goods. there variations which will be categorized into monetary or price inflation..like cost push inflation, rising imported raw materials cost,rising labor costs, demand pull inflation, rising government indirect taxes etc...but in this context, the introduction of #5000 note is surely going to cause the rise in prices of commodities like we've witnessed in the past and this fits into a definition of inflation as "A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money" in a nutshell, inflation is "things getting more expensive" which could be caused by a number of factors like the examples I gave above; not necessarily more money chasing fewer goods.

Echidime: We are talking about Economy and 5000 Notes some useless people are here talking about the wringkles in SLS forehead,how silly some people can be.

This man will have my Vote any day he comes out for President of Nigeria. This is the kind of leaders we need in this country,a leader who careless of public opinion but does what is right for the benefit of the nation. Most politicians are against this 5000 notes because it will go against their evil plans

DO u think this is dictatorship?

Billyonaire: Congratulations for graduating from Village High School to Kindergarten. You are not worth my time. You belong to the class of my house-boy! No, my house-girl. I have made my points, look at those threads for the answers to your endemic ignorance. Does it run in the blood ? When you start dealing on FX transactions, then you can start talking to me, for now, you are talking about people who import and I am educating you as an active player. Poor thing!

u r a fool! and in ur life time which is now nearer to the end than the beginning, u can never match up with the practical experience that I hv in that field. I am not boasting but jst dt I am better than u on that subject, Crystal!

Billyonaire: You are pro-poverty, pro-economic illiteracy. You will be left behind, because you lack basic knowledge of Economic Growth Monitoring Indices due to your m0r0nic sense of micro/macro economy strategic policies. The measure of a country's growth can best be ascertained by macro economics indices and not by how much pure water you bought, and how much change a market woman receive when she sold pepper. People like you need to move to Somalia and form a faction of pirates and get killed by stray bullet cos you are not worth being the target of a sniper. You sit down in a badly lit apartment typing your ignorance out there and not ready to learn from people who study economics and work in banks and other financial services sector for the greater part of their lives. Sanusi is a trained, tested and trusted banker. Neither your chauvinistic sense of economy nor your stagnant mentality will stop Nigeria and progressive Nigerians from moving forward, I think you have have a stagnant and dormant IQ , so backward and archaic mentality you inherited from your pedigree. You keep derailing threads, and talking about about how politicians steal cash as if corruption will start when 5k note is introduced. When Abacha, IBB etc looted the economy, was there even 1k Naira note? No, it was by the use of foreign currencies and thats what CBN is trying to stop by augmenting the status of the Naira. People like you make me feel that freedom of speech should be taken away, cos it gives an avenue for non-savvy forumites to even think that what you saying has iota of fact. I based all my postulates on facts and illustrations, yet, you dont tell me how 5k note will cause inflation, you also refuse to tell me how it will promote corruption in political offices. So when you say foreign currencies are bought by importers, are you saying importers carry foreign currencies in cash to abroad. I mean you are plain stvpid, I have done lots of foreign transfers to ship in goods but bro, you dont send cash abroad, its called Wire Transfer, it is a telex messaging platform. So actually, much of the cash, moves within the system and it is why the systems needs to be mopped of excess liquidity in form of foreign currencies, if not, you will see us buying chewing-gum with dollars in the next few years when our currency is dead and buried. Thumps up the CBN for this move. It is what is needed to keep naira above others.

watching too many movies is bad! it can take u away from reality! if by now u don't know wot parallel economy is, then i shldn't be having this discussion with an ingrate like you. weren't u in Nigeria or mayb u took a quick trip to the moon when it was discovered that some public officers hid monies in their houses to the tune of an alarming #2Billion! so if u introduce a high denomination like #5k, wldn't a room that contained #2b now contain #40billion? simple arithmetic! and because lump sums are easy to carry, they can carry #200million in a briefcase and buy the next available mansion at a glance of likeness. I tried to enlighten u on the part of importers because you thought that "ur big spenders" are the biggest patronizes of FX but it seems u r too daft to understand some simple clarifications and to bottle up ur mumuness, u tried to explain wire transfers from ur daft understanding. so, when u want to import goods from abroad, u send ur "wire transfer" and the exporter experiences some electronic "shock" or impression which tells him that u have paid and then he snds u the goods. clearly, u dnt even understand the dynamics of things before u dive into them.

Remii: Honestly speaking, Naira needs to be re denominated somehow, either by removing some zeros as attempted by Soludo or printing higher denomination as currently being proposed by Sanusi. Soludo style seems better. N1000 is equal to 6USD or 4PDS at that value, N100 is about 65cents. We all know that UK has 2PDS coins ~N500. If the higher denominations are created with N50 coins, as being proposed, it should not lead to inflation, provided Nigerians are ready to resist traders antics, since there income will remain same. Nigerians need to work on attitude of spending higher denominations too. 50PDS and 100USD are not freely spent in UK and US respectively. CBN should be careful not to flood the system with proposed N5k notes too.

i like ur write up but comparing the economies of US and GB with Nigeria will a be faulty analogy because these guys have already existing facilities that will accept coins, u can buy drinks, gas etc and pay with coins, or go to the bank and deposit coins cos u hv machines installed to accept that form of payment but in Nigeria, where do u spend that, even Banks reject coins talk less of sellers on streets and in the market or transporters, how wld the carry it? how can they easily convert or store it without having to carry dt bulky stuff around?

Billyonaire:

* 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.

u have just summarized ur foolishness in this post! when u r giving me a change of #4900, is that not giving me an avenue to still carry excess notes as opposed to the cashless policy? ur analysis of big spenders storing money in dollars is also very foolish, the main buyers of dollars/pounds/euros are importers who have to pay for goods with those foreign currencies because naira is not accepted and because Nigeria is an import dependent country, you can imagine the volume of containers that land in our ports and the dollar equivalent. the solution to exchange rate issues has never been to print more monies or higher denominations but to develop the local economy. the big spenders you mentioned in Nigeria are obviously the corrupt politicians who are looking for ways to hide their theft and with the introduction of #5000 note, Sanusi will be giving them more opportunities because they can store up large sums without the help of banks, they can transact and buy expensive mansions without the need for banks making their looting activities untraceable. they can also spend these monies freely as it is the countries local currency as opposed to dollars which they can't spend freely

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?

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:

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?

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!

werepeLeri:

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

Sick Ga!y mudaphucker! I suspected as much dt dts wot u a$$lickers do to earn a spot.

Billyonaire: It really hurt when you insult me like that. Do you want to take away from freedom of speech ? I said, I dont remember the last time I used N5 note and you go crazy with negative energy. Life must be very difficult for you. N5,000 is long overdue and that's a fact. If you are an advocate for the market women, then its your business. Poverty is a choice, so is Wealth. They choice is yours.

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.

werepeLeri:

Excuse me - what do you understand by the cashless policy? Lets start from there.

He should be asking you that question not the other way round! because clearly, economics sounds Chinese to u!

werepeLeri:

So those prices went up only when which currencies became coins? I hear u. Biko.

No need calling people st.upid because they dont share your line of argument. Oga/.

Yes! like I said, I dnt knw whr u r or if u jst started observing the trend of the Nigerian economy which could also translate into questions like.. when u were born or where u hv bn residing in d last 25yrs.

Billyonaire: N5,000 is long overdue, I cant also remember the last time I used a 5 Naira note, so that needs to be coined. But 10 naira should remain a note.

All this s.t.u.p.i.d people that the pay stolen money for doing nothing, so we shld clap for u becos u cant remember wen last u spent 5naira! the market women and sellers on the streets can remember when! and also knw how valuable those monies are!

werepeLeri:

Thank you Mr. Smart - Professor of Economics - see how you think? Tell me prices of other commodities that increased because coins were introduced.

In any case - was there a time there were no coins? So, which prices of goods went up because of coins? Let us know Mr. Smart Street Economist.

I guess pure water is all you can come up with.

They say it will aid corruption - LOL. Corruption rings are ran in Pounds and Dollars- not some Naira Notes.

I don't know when u were born!? but I remember when the price of commodities on the streets were still sold with .50kobo attached to the price, u could buy a box of matches for #2.50kobo and still get ur change, i remember when u could buy a bottle of coke with the .50kobo attached to the price, even chewing gum was sold for 50kobo/=N=1 but as soon as those currencies were changed to coins, what happened? prices were rounded up and today the least item u can buy has a price tag of =N=5 which is speedily fading out too

werepeLeri:

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?

Why shldn't he use pure water!? that u hv money to buy eva water doesn't mean every1 hs dt kind of money! and I can see dt dts where u and sanusi r getting it wrong! u structure ur economics & policies to suit the rich and well to do; the poor man on the street who can only afford pure water is not put into consideration! u took ur time to knw that USA has 1cent coin, why didn't u ask urself why d don't hv 5,10 or 20 dollar coin? assuming u r even smart

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

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.

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!

chai! so diezani na winch?

alkadriyar:
u be mumu. I wonder why NL accommodate some fools.

Fool, keep on wondering.

he wants her to die so him go marry Diezani