travelwaka:
If you are visiting A French-speaking African country, there is a huge chance that you will be spending the Cefa. The CFA Franc (Cefa) is the official currency of eight west African countries which includes the Republic of Benin, Togo, Mali, Guinea Bissau, Senegal, Niger, Cote d’Ivoire, Burkina Faso.

In total, the Franc is used by 14 countries in sub-Saharan Africa. Each of these countries belongs to either the West African Economic and Monetary Union (WAEMU) or the Central Africa Economic and Monetary Union.

back in the days , 1 naira used to be between 3 cefa but as of May 2021.

1 Naira is 1.1 CFA
10 Naira is 11 CFA
100 naira is 110 CFA
1,000 naira is 1,100 cfA

Few years ago 1,000 naira will get you 3,000 CFA but today 1,000 naira is 1,100 cefa.


https://www.travelwaka.com/understanding-the-republic-of-benin-currency-the-cefa/



https://www.youtube.com/watch?v=4rwkdRO8hp8

That's a lie. As at year 2000, #1 was close to 5 CFA.

That meant #10000 was 50k CFA. It's unfortunate how naira has been devalued. Thanks to our zaling Daddy that keeps traveling abroad for any ill health and lack of export commodities.

pocohantas:
Whoever supplies Nigerians the weed they smoke before they say CFA and Cedis are stronger than the Naira, should be arrested and tried for treason.

You think strength of currencies is all about exchange rate? Everyday they keep educating you people and una coconut head no gree.

One day, una go compare Somalia to Nigeria. That is why useless travel agents tell you guys you will earn 150k in “Dubai”, you jump and enter plane. Toor

Poco please be calming down na

thebosstrevor1:


Your economy determines your value of currency

Go study Market value and Economic value. After come back and argue with me

igbosoupkitchen:


While.we are comparing the numbers of the curency can we also please compare the purchasing power??
We are quick to compare naira to dollar,cedis to naira, cefa,euros, gbp etc and we only do so in terms on figures.

Let me ask you,
I dollar is = 480naira (what is the purchasing power of both?
1 dollar can buy you a cup of coffee in the USA but 480 naira can buy you tea( coffee, lipton,milo and milk) +sandwich
1 dollar can buy you 1 or 2 bottles of water in usa but 480 naira can buy 6 or 8 bottles of water in Nigeria.
500 cefa can only buy you 1 bottle water which is 250 cefa and 1 bottle of malt drink 250 cefa,
500 naira in Nigeria can buy you water, malt,gala,biscuit,bread and akara/eggroll
100cedis in ghana cannot buy you what 9000 can buy in Nigeria, FACT

If not for our lack of productivity as a country we will not be an import dependent country aĺways seeking validation of foreign currency.

Everything you've said is nothing but the truth, in fact what you can get for 1000 naira in Nigeria, you will need like 50cedis to get in Ghana but I prefer a society where things are expensive and the people still have money to buy to a place where everything is cheap but no money to buy

igbosoupkitchen:


While.we are comparing the numbers of the curency can we also please compare the purchasing power??
We are quick to compare naira to dollar,cedis to naira, cefa,euros, gbp etc and we only do so in terms on figures.

Let me ask you,
I dollar is = 480naira (what is the purchasing power of both?
1 dollar can buy you a cup of coffee in the USA but 480 naira can buy you tea( coffee, lipton,milo and milk) +sandwich
1 dollar can buy you 1 or 2 bottles of water in usa but 480 naira can buy 6 or 8 bottles of water in Nigeria.
500 cefa can only buy you 1 bottle water which is 250 cefa and 1 bottle of malt drink 250 cefa,
500 naira in Nigeria can buy you water, malt,gala,biscuit,bread and akara/eggroll
100cedis in ghana cannot buy you what 9000 can buy in Nigeria, FACT

If not for our lack of productivity as a country we will not be an import dependent country aĺways seeking validation of foreign currency.

What is the minimum wage in Nigeria?
What is the minimum wage in USA?

Have you compared the two?

A full professor in Nigeria earns about $1000=N480,000
A full professor in USA earns between $5000 and $8000 per month.
A post doctoral student in USA earns about $3000.

What this means is that a Postdoc in USA is earning approximately N1.4 Million Naira per month.

Please do your calculations and tell me which is better!

In USA, the Federal minimum wage is about $7.25 per hour. For someone who works 8hours per day for five days a week you have $1250 per month which is higher than what out professors earn.


Do you think you still have a strong basis for comparison?

McStoic:


Interessante. Je pense que tu est South eastern mais residentè au Lagos.

Cest bon.... Ou est ce que habitez vous au Benin?

sirblend:

And you think his post is intelligent.
Then you also need to check yourself.

there is this proverb in Yoruba that goes thus, what an elderly man will see sitting down, a child wont see it even if he/she climb a pole

thebosstrevor1:


Your economy determines your value of currency

The value of money is determined by the demand for it not by your economy. If not China currency would have been top notch

igbosoupkitchen:



Yes, I am talking about purchasing power and noone pairs 1 dollar to 1 naira, else we wont be having this conversation.

Read your analysis again..

Shut up there
Bloody dunce
You don't have anybody schooling overseas.. that you cater for their fees from here...
Shut up there... Spits

igbosoupkitchen:


While.we are comparing the numbers of the curency can we also please compare the purchasing power??
We are quick to compare naira to dollar,cedis to naira, cefa,euros, gbp etc and we only do so in terms on figures.

Let me ask you,
I dollar is = 480naira (what is the purchasing power of both?
1 dollar can buy you a cup of coffee in the USA but 480 naira can buy you tea( coffee, lipton,milo and milk) +sandwich
1 dollar can buy you 1 or 2 bottles of water in usa but 480 naira can buy 6 or 8 bottles of water in Nigeria.
500 cefa can only buy you 1 bottle water which is 250 cefa and 1 bottle of malt drink 250 cefa,
500 naira in Nigeria can buy you water, malt,gala,biscuit,bread and akara/eggroll
100cedis in ghana cannot buy you what 9000 can buy in Nigeria, FACT

If not for our lack of productivity as a country we will not be an import dependent country aĺways seeking validation of foreign currency.

No sir.

$1 can get you up to 12 bottles of water, and $1 can get you up to 5 or more cups of coffee.
Please, the N480 tea and sandwich, is it from aboki by the road side or is it in a coffee shop ?
I'm just asking oooo

Up Buhari
Up APC

thebosstrevor1:


He weote many intelligent points

He has deleted it.
What he typed there makes no sense..
He wrote about $1 being able to get you a bottle of water in USA.
But N1 can't purchase a sachet of water in Nigeria.
We need to compare $1 to N1 let see how far we have fared as a nation.

Una dey think wetin I dey think? Na to buy cefa n keep for 5 years.. gbam another Bitcoin don land

travelwaka:
The moment you realize that an IPhone 12 is 1500 dollars where as it's 500,000 in Naira. You realize this analysis is just wrong. Your analysis only make sense to a Foreigner coming to Nigeria. But imagine a Business owner or manufacturer who used to buy a $100 resources at 15,000 when dollar was 150 naira then all of a sudden the same resources after 5 years is still $100 but it will now cost him and 46,000 naira which is triple the original price.

Whenever your currency is going bad it only favours foreigners coming into your country it doesn't favour the citizens.

From your analysis. A foreigner who can only buy 1 bottle water with 1 dollar comes in and all of a sudden he can buy 6, but you who is supposed to buy 6 goes into the international terrain, you can only buy 1.


Lastly if you are talking about purchasing power , you are supposed to pair it 1 naira to 1
dollar and not 1 dollars 480 naira .

Think about this your analysis again.

Dude you didn't make any point.

Iphone will be expensive in Nigeria because we don't produce it.

Iphone 12 cost 1000 dollars in the United states, the same Iphone cost 600k in naira around 1500. Funny enough that iphone 12 cost about 9,599 yuan in china that is about 1500 dollars

The United states dont produce iphones, imagine they produce, what do you think the cost will be?? Will it be cheaper or expensive?

If you are talking about purchasing power, you can't compare 1 naira to 1 dollars, dollars is the means of international trade, you convert the equivalent of 1 dollars to naira and then compare.

You can't even compare 1 dollars to 1 pounds because they are not of equal value.

This is what you see when you make olodo your leader....there is no magic anywhere..what you put to life is what you get...Buhari has 4 years to make the country stable and another 4 years to improve it but he has made it worst than the way he met it...

And some people still want us to continue with this....it is only a fool that will be doing the same thing and be expecting different results...
If we continue in this route, 20 years from now there wouldn't be a country called Nigeria anymore.

igbosoupkitchen:


While.we are comparing the numbers of the curency can we also please compare the purchasing power??
We are quick to compare naira to dollar,cedis to naira, cefa,euros, gbp etc and we only do so in terms on figures.

Let me ask you,
I dollar is = 480naira (what is the purchasing power of both?
1 dollar can buy you a cup of coffee in the USA but 480 naira can buy you tea( coffee, lipton,milo and milk) +sandwich
1 dollar can buy you 1 or 2 bottles of water in usa but 480 naira can buy 6 or 8 bottles of water in Nigeria.
500 cefa can only buy you 1 bottle water which is 250 cefa and 1 bottle of malt drink 250 cefa,
500 naira in Nigeria can buy you water, malt,gala,biscuit,bread and akara/eggroll
100cedis in ghana cannot buy you what 9000 can buy in Nigeria, FACT

If not for our lack of productivity as a country we will not be an import dependent country aĺways seeking validation of foreign currency.

No basis for comparing purchasing power of US dollar and naira as the economic and social indicators of development in USA and Nigeria aren't same.

sirblend:

He has deleted it.
What he typed there makes no sense..
He wrote about that $1 can get you a bottle of water in USA but i ask why can't purchase a sachet of water with N1 or is pure water also imported
We need to compare $1 to N1 let see how far we have fared as a nation.

You can't compare 1 dollars and 1 naira, they are not of equal value.

You can't also compare 1 euros and 1 dollars, they are also not of equal value.

You can't also compare 1pounds to 1 dollars they are not of equal value.

To get equal value, you convert

1 dollars is equal to 500 naira.
1 dollars is equal to 0.71 pounds
1 dollars is equal to 0.82 euros.

Now, you compare, what will 500 naira get in Nigeria and what will 1 dollars get in the United states.

What will 71 pence get in the england vs what will 1 dollars get in America. Likewise euros

Ikem11:


The value of money is determined by the demand for it not by your economy. If not China currency would have been top notch

Value of money isnt determined by the demand.

Your valueof money is determined by the strength of your economy.

Is yen in demand.
Is yuan in demand
Is pounds in demand
Is euro in demand

Yet they have a strong economy, also they are able to stabilize their economy with monetary policies and also through trade

travelwaka:
The moment you realize that an IPhone 12 is 1500 dollars where as it's 500,000 in Naira. You realize this analysis is just wrong. Your analysis only make sense to a Foreigner coming to Nigeria. But imagine a Business owner or manufacturer who used to buy a $100 resources at 15,000 when dollar was 150 naira then all of a sudden the same resources after 5 years is still $100 but it will now cost him and 46,000 naira which is triple the original price.

Whenever your currency is going bad it only favours foreigners coming into your country it doesn't favour the citizens.

From your analysis. A foreigner who can only buy 1 bottle water with 1 dollar comes in and all of a sudden he can buy 6, but you who is supposed to buy 6 goes into the international terrain, you can only buy 1.


Lastly if you are talking about purchasing power , you are supposed to pair it 1 naira to 1
dollar and not 1 dollars 480 naira .

Think about this your analysis again.

U nailed it bro. I so loved the way u analysed the whole stuff. Ur head get oil.

Nigeria is gone forever...

oshikes:
U nailed it bro. I so loved the way u analysed the whole stuff. Ur head get oil.

He didn't nail anything

thebosstrevor1:


Value of money isnt determined by the demand.

Your valueof money is determined by the strength of your economy.

Is yen in demand.
Is yuan in demand
Is pounds in demand
Is euro in demand

Yet they have a strong economy, also they are able to stabilize their economy with monetary policies and also through trade

So in other words Chinese economy is bad? Do u listen to your self? Are you aware US accused China or keeping their currency low on purpose?

agent01:
This piece can only come from someone who can reason and think deep. A can of coca cola in the US is above $4. I have a friend earning 850 dollars per week in USA; but still suffering. The only thing that can make your earnings in Europe to have value is only if you did not spend a penny there. If you are in Nigeria, you can feed yourself with at least #250 per meal; that means the naira you spend is strong.

Oga, who sold you that lie that can of coke is above $4 ?
You can get can of coke from vending machine for as low as 50 cents na.

Ikem11:


So in other words Chinese economy is bad? Do u listen to your self? Are you aware US accused China or keeping their currency low on purpose?

Where did i write that chinese economy is bad.

The United states accused china of currency manipulation that means they lower the value of their currency to gain an unfair competitive advantage.

thebosstrevor1:


You can't compare 1 dollars and 1 naira, they are not of equal value.

You can't also compare 1 euros and 1 dollars, they are also not of equal value.

You can't also compare 1pounds to 1 dollars they are not of equal value.

To get equal value, you convert

1 dollars is equal to 500 naira.
1 dollars is equal to 0.71 pounds
1 dollars is equal to 0.82 euros.

Now, you compare, what will 500 naira get in Nigeria and what will 1 dollars get in the United states.

What will 71 pence get in the england vs what will 1 dollars get in America. Likewise euros

Anyway you try to interpret it, the naira still has no value for the citizens of this country.
There is no need to compare because when you take N500 to the US it also becomes valueless. But bring that $1 here......You and i know the power of the dollars.
The purchasing power of the naira is too poor.

agent01:
This piece can only come from someone who can reason and think deep. A can of coca cola in the US is above $4. I have a friend earning 850 dollars per week in USA; but still suffering. The only thing that can make your earnings in Europe to have value is only if you did not spend a penny there. If you are in Nigeria, you can feed yourself with at least #250 per meal; that means the naira you spend is strong.

Chai
Illiteracy is a disease

replete:

You my friend and the likes are gullible.

Smiles. You are not wise.

sirblend:

Anyway you try to interpret it, the naira still has no value for the citizens of this country.
There is no need to compare because when you take N500 to the US it also becomes valueless. But bring that $1 here......You and i know the power of the dollars.

You can't take 500 naira to the United states because they use dollars but you can take the dollar equivalent of 500 naira to the United states and you will be able to buy only a can of coke whereas, the 500 naira will be able to get you a good meal here.

Grace001:


Cest bon.... Ou est ce que habitez vous au Benin?

Non..je suis Igbo. Mais j'ai etait au Cotonou quelquel annees ago...Tu connais Sodjeatime, pres Cine Concorde?

thebosstrevor1:


Where did i write that chinese economy is bad.

The United states accused china of currency manipulation that means they lower the value of their currency to gain an unfair competitive advantage.

Nigeria economy is strongest in Africa... Are you aware of that? Does that make naira strongest?

SUPERPACK:
We are just suffering from Dutch Disease. It can happen to any country or state. Our inability to diversify from oil kept us were we are now.

Is Nigeria the only country that depend on crude oil? That's a silly excuse.

Ikem11:


Nigeria economy is strongest in Africa... Are you aware of that? Does that make naira strongest?

They didn't say Nigeria economy is the strongest, they say the largest based on gdp.