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Nairaland Forum / Nairaland / General / Business / Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? (161 Views)
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Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by Introvert123: 8:56am On Jul 06 |
I noticed that the lower denominations are now very hard to come by unlike it used to be. Why? Is that due to a decrease in the amount of notes being printed or in circulation. I'm also of the opinion that it can help cure inflation , kidnapping , and others if we have more of the small denominations in circulation . What's the reason behind this |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by harlimat24: 9:19am On Jul 06 |
Introvert123: Soon 50 naira and 100 naira will also be scarce because the price of things will soon be out of range for 50 and 100 naira |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by GreyWolf01: 9:39am On Jul 06 |
Use your brain OP. The fact that those denominations CANNOT purchase anything in the current economy , has rendered their status as legal tender, useless. What do you do with trash? |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by thesicilian: 10:30am On Jul 06 |
What do you want to do with them?! |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by Introvert123: 11:12am On Jul 06 |
GreyWolf01:Hhhhmmmm . Thanks for the input |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by Introvert123: 11:23am On Jul 06 |
thesicilian:I no wan leave my change with market women . E dey pain me |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by Introvert123: 11:26am On Jul 06 |
thesicilian:I have lost a huge amount of money . I for don buy bugatti by now . Lol |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by thesicilian: 11:27am On Jul 06 |
Introvert123:Lol. Some will force you to buy sweets with the change. Others will be looking at you as if it's a crime to wait for your change. |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by Introvert123: 11:29am On Jul 06 |
thesicilian:Exactly . What is the solution In this hard economy . I no dey form abeg 1 Like |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by Introvert123: 11:31am On Jul 06 |
thesicilian:If I calculate how much I dey lose per month. I no fit dey lose money in this hard economy The problem be sey you no go wan argue with them And I hate going back for change. I 1 Like |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by Introvert123: 11:41am On Jul 06 |
GreyWolf01:But shouldnt being scarce make it more valuable. Scarcity creates value But we still can't do without it . We need am everyday . My opinion. |
Re: Why Is 5,10 ,20 And 50 Naira Very Scarce Unlike Before ???? Wha Happened ??? by GreyWolf01: 4:32pm On Jul 06 |
Introvert123: The point is not scarcity! ( e.g That a 100 GBP note is scarce, does not increase its value. It can only purchase 100GBP worth of items, despite the note being scarce.) Scarcity works with products and services, not with (denominations of a currency) The point is , what can N5, N10, N20, buy? When these questions are answered or the problems of inflation and low purchasing power are fixed, more of those denominations will be printed. |
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