GonFreecss1:


Bro! Forget that one.

Nigeria might be turbulent, but I rather leave my savings in Nigeria than Ghana. Me I know what I am saying o. The numbers dey there.

Have you done business in Ghana before?

DexterousOne:


That is not the point

Many Nigerians dont seem to get it

It has nothing to do with currency

And every thing to do with LEADERSHIP ans POLICY.


Japan has one of the WEAKEST currencies on the planet

Its weaker than NGN ZAR and GHS

However, the Japanese GDP is bigger than the whole of africa put together

And USA is owing Japan to the Tune of $1.1 trillion and counting

So its not about currency or adding or removing zeroes.


Nigerians we think we are all that
That has always been our problem

(AND AMERICANS ALSO HAVE THIS ISSUE)


Nigeria is making its strides

OTHERS ARE MAKING THEIR OWN STRIDES TOO

You are very wrong sir. JPY weaker than NGN?

Nope. The power or value of a currency is it’s market cap which is the value relative to something x the amount in circulation.

What you just said is like saying Nestle is bigger than Dangote cement or more valuable/expensive because of the price. Nope! You multiply the price x the outstanding shares to see what is going on.

Same thing with Crypt0. (B1tco1n and co...)

GonFreecss1:


You are very wrong sir. JPY weaker than NGN?

Nope. The power or value of a currency is it’s market cap which is the value relative to something x the amount in circulation.

What you just said is like saying Nestle is bigger than Dangote cement or more valuable/expensive because of the price. Nope! You multiply the price x the outstanding shares to see what is going on.

Same thing with Crypt0. (B1tco1n and co...)

You are still not getting the point

DexterousOne:



Have you done business in Ghana before?

I am talking of buying power. Not business.


Nigeria has it’s problems, I know.

There is a reason Ghana has to make that business flow.

The problem of Nigerians is Nigerians. When we are ready, we will do what is necessary.

DexterousOne:


You are still not getting the point

Bro. JPY is far stronger than those currencies you mentioned. Forget the Ghana vS Nigerian argument here and see what I am trying to enlighten you on.

You said JPY is weaker than... was correcting you.

GonFreecss1:


The fact that people keep forgetting this and think Ghanian currency is stronger than ours is funny.

After Rand, Naira is the next best thing in Africa.

Strong is a relative term.
Investors are more interested in the stability of currencies than the nominal value attached.

If Ghana cedi is 1 cedi to a dollar since they removed those zeroes till now,then they must be doing something that Nigeria is not doing with the way our currency has depreciated over time.

DexterousOne:




VC is not mainstream in Nigeria

Agreed, but we are getting there.

Nigeria is currently at the time of Benjamin Graham and Buffet in his prime period.

We have companies like Paystack and Flutterwave already. More will come... I am sure.

VC? Na smalls. Let the wins come small small. There are many young guys doing things you can’t see now. No worries.

I can't even remember anytime that the Nigerian naira had better value than that of Japan. That line completely took me aback.

GonFreecss1:


Bro. JPY is far stronger than those currencies you mentioned. Forget the Ghana vS Nigerian argument here and see what I am trying to enlighten you on.

You said JPY is weaker than... was correcting you.

what stops Nigeria from removing zeros from its currency, if it is that simple? I hope next time you go and change money into cedis, you will tell the currency changer to add those zeros to the rate he or she will offer you,huh?

i don't know what all these negative sentiments about Ghana by nigerians is all about. Ghana is better then Nigeria on many scores. is it life expectancy, is it about FID inflows, even inflationary figures? per capita GDP, economic growth? poverty levels? access to health and education? access to electricity? access to health care? corruption index? Ghana leads Nigerian on every single assessment.

even the roads in Ghana are better than the roads in Nigeria. It is not enough to shout Nigeria is better than Ghana. Give us concrete and verifiable reasons to support that.

[s]

NL1960:


Because Ghana artificially removes zeroes from their exchange rate, dem begin hype Ghana all over the place as if Nigeria cannot also remove zeroes from the exchange to make it $1 to 30kobo.

[/s]

@the bolded, is that the case? Did you check the historical decline even after their redenomination against the USD?

pluto09:



Strong is a relative term.
Investors are more interested in the stability of currencies than the nominal value attached.

If Ghana cedi is 1 cedi to a dollar since they removed those zeroes till now,then they must be doing something that Nigeria is not doing with the way our currency has depreciated over time.

Our Ghanian brother don show. It is not a Nigeria vs Ghana fight, you just happened to have been in the middle of another argument.
Easy okay?

Noisyrians:
what stops Nigeria from removing zeros from its currency, if it is that simple? I hope next time you go and change money into cedis, you will tell the currency changer to add those zeros to the rate he or she will offer you,huh?

i don't know what all these negative sentiments about Ghana by nigerians is all about. Ghana is better then Nigeria on many scores. is it life expectancy, is it about FID inflows, even inflationary figures? per capita GDP, economic growth? poverty levels? access to health and education? access to electricity? access to health care? corruption index? Ghana leads Nigerian on every single assessment.

even the roads in Ghana are better than the roads in Nigeria. It is not enough to shout Nigeria is better than Ghana. Give us concrete and verifiable reasons to support that.

[s][/s]

pluto09:



Strong is a relative term.
Investors are more interested in the stability of currencies than the nominal value attached.

If Ghana cedi is 1 cedi to a dollar since they removed those zeroes till now,then they must be doing something that Nigeria is not doing with the way our currency has depreciated over time.

It’s the oil man. Always been, will unfortunately continue.

What will make Oil 200 usd per barrel today and many dollar/Fx holders will cry. Me inclusive.

As for the Ghanian currency, you do need to look at their debt though.

Was it not the same thing about Nigeria people were crying about here? How we keep borrowing bah?

Read this...
https://www.bloomberg.com/news/articles/2019-05-28/ghana-s-debt-at-the-highest-in-four-years-as-revenue-undershoots

ojesymsym:
I can't even remember anytime that the Nigerian naira had better value than that of Japan. That line completely took me aback.

There was a time when they were almost at par

Or JPY slightly ahead
Amd naira slightly ahead too


That was a few years ago

I went to update myself on current reality


That said

My point still holds

ojesymsym:
@the bolded, is that the case? Did you check the historical decline even after their redenomination against the USD?

I have not been following the exchange rate in Ghana.
Someone said 1cedi = 1 dollar and that was why I put the 'if' in my statement.

ojesymsym:
I can't even remember anytime that the Nigerian naira had better value than that of Japan. That line completely took me aback.

The problem is economics.

Many of us make that same mistake. Me inclusive.

This is why discussions like this are good. We all learn everyday.

Noisyrians:
what stops Nigeria from removing zeros from its currency, if it is that simple? I hope next time you go and change money into cedis, you will tell the currency changer to add those zeros to the rate he or she will offer you,huh?

i don't know what all these negative sentiments about Ghana by nigerians is all about. Ghana is better then Nigeria on many scores. is it life expectancy, is it about FID inflows, even inflationary figures? per capita GDP, economic growth? poverty levels? access to health and education? access to electricity? access to health care? corruption index? Ghana leads Nigerian on every single assessment.

even the roads in Ghana are better than the roads in Nigeria. It is not enough to shout Nigeria is better than Ghana. Give us concrete and verifiable reasons to support that.

[s][/s]

The argument was not which is better.

The argument was where to invest money. Lol!

Instead of you to rebuff the arguments with numbers you are busy shouting this is better.

Exactly. I don't see all this logic behind forex.

For a consumer, your focus should be on inflation. If you don't import stuff , forex has negligible effect on you

DexterousOne:


The best thing to do

If you are Nigeria centric

What should worry you is more of inflation

Than the FOREX rate

Noisyrians:
what stops Nigeria from removing zeros from its currency, if it is that simple? I hope next time you go and change money into cedis, you will tell the currency changer to add those zeros to the rate he or she will offer you,huh?

i don't know what all these negative sentiments about Ghana by nigerians is all about. Ghana is better then Nigeria on many scores. is it life expectancy, is it about FID inflows, even inflationary figures? per capita GDP, economic growth? poverty levels? access to health and education? access to electricity? access to health care? corruption index? Ghana leads Nigerian on every single assessment.

even the roads in Ghana are better than the roads in Nigeria. It is not enough to shout Nigeria is better than Ghana. Give us concrete and verifiable reasons to support that.

[s][/s]

Also, let me tell you something. 0’s are not removed because they automatically make a currency have better value relative to the USD or any other metric. They are removed to avoid a situation where we start using wheelbarrows to buy bread. The bad value of the currency will still remain. You can’t ignore that market cap, it will always be the same.

And if we really want to be logical about this.

Which country does money flow into the most?

Nigeria or Ghana?

The numbers are there for everyone to see. Are these hedge funds or institutional investors stupid? Don’t they know what they are doing?


I think Ghana is honestly doing well, I think Nigeria is messing up big time. This argument is not about what you feel, it’s about what the numbers say.

Was it not here someone said something about Nigerians coming up in Negativity and what Nigerians can’t see foreign investors are seeing? Lol.

GonFreecss1:



The argument was not which is better.

The argument was where to invest money. Lol!

Instead of you to rebuff the arguments with numbers you are busy shouting this is better.

You shouldn't have responded to him.

GonFreecss1:


If you think FX doesn’t affect the price of goods and service in Nigeria.... lol!

As a Nigerian you are battling 2 evils, Inflation and currency depreciation.

It does affect me but the effect is negligible.

I earn and pay my rent in Naira.
Buy 95% of my foodstuff in Naira. (mostly Nigeria brands)
98% of my services are in Naira.

So I don't really see that impact on my earnings really.

IamR:

You shouldn't have responded to him.

Hahahahahaha.

I really think arguments like this are a time for everyone to learn, me inclusive. So I don’t hesitate to share what I know, in fact I want to make mistakes and be corrected. I hope he learns a thing or 2.

GonFreecss1:


Hahahahahaha.

I really think arguments like this are a time for everyone to learn, me inclusive. So I don’t hesitate to share what I know, in fact I want to make mistakes and be corrected. I hope he learns a thing or 2.

Not bad though. I have some of them as friends.

Noisyrians:
what stops Nigeria from removing zeros from its currency, if it is that simple? I hope next time you go and change money into cedis, you will tell the currency changer to add those zeros to the rate he or she will offer you,huh?

i don't know what all these negative sentiments about Ghana by nigerians is all about. Ghana is better then Nigeria on many scores. is it life expectancy, is it about FID inflows, even inflationary figures? per capita GDP, economic growth? poverty levels? access to health and education? access to electricity? access to health care? corruption index? Ghana leads Nigerian on every single assessment.

even the roads in Ghana are better than the roads in Nigeria. It is not enough to shout Nigeria is better than Ghana. Give us concrete and verifiable reasons to support that.

[s][/s]

Ok. Ghana is better than Nigeria then. I guess you are fine now. Can we move on to other things now?.

You have spoken well but Japanese Yen is not weaker than Naira and not one of the weakest currencies in the world.

DexterousOne:


That is not the point

Many Nigerians dont seem to get it

It has nothing to do with currency

And every thing to do with LEADERSHIP ans POLICY.


Japan has one of the WEAKEST currencies on the planet

Its weaker than NGN ZAR and GHS

However, the Japanese GDP is bigger than the whole of africa put together

And USA is owing Japan to the Tune of $1.1 trillion and counting

So its not about currency or adding or removing zeroes.


Nigerians we think we are all that
That has always been our problem

(AND AMERICANS ALSO HAVE THIS ISSUE)


Nigeria is making its strides

OTHERS ARE MAKING THEIR OWN STRIDES TOO

Godbpraised:
Oga na hyper inflation go chop ur profit finish for ghana ooo, the way inflation dey jump up for ghana hmmm no be beans oh.

I spent sometime in Ghana. It felt too expensive, more expensive than naija. Like someone mentioned here. Ivory Coast is a lot better, everything is cheaper than naija. Plus these guys are calm back and are very trustworthy.

Oga please stop misleading people about Japan and South Korean currencies, those currencies are strong! If you have been to those countries you will understand, forget what you read somewhere.
Can you also say that Singaporean Dollar and Malaysian Ringgit are weak? If you want to talk about weak currencies in Asia then talk about Vienam Dong and Myanmar Kyat..still Vietnam Dong is strong and has value in Vietnam!

DexterousOne:


Japan has one of the weakest currencies on earth

South Korea own is even weaker


Its weak

But somewhat stable.

I read the comment from NSE thread

The border closure was unfortunate
But then

That does not take anything still away from Ghana

The production plant was sited there to service the Nigerian market
And that was the mistake


I'm sure the industrial space at TV Africa thaf focuses on the Ghanaian market is not as badly hit as this CEO.


As for the bolded

Hahahahahahaha

That's all I'll do

Laugh out Loud

XiaoLi:
Oga please stop misleading people about Japan and South Korean currencies, those currencies are strong! If you have been to those countries you will understand, forget what you read somewhere.
Can you also say that Singaporean Dollar and Malaysian Ringgit are weak? If you want to talk about weak currencies in Asia then talk about Vienam Dong and Myanmar Kyat..still Vietnam Dong is strong and has value in Vietnam!

The Japanese yen exchange more units for the dollar than say the ZAR or GHS

The Korean Won exchanges even more units for dollars than the ZAR or GHS


I have dealt with Korean won years ago

10000 won was exchanged for less than 2k naira


I know what I am saying

pluto09:


I have not been following the exchange rate in Ghana.
Someone said 1cedi = 1 dollar and that was why I put the 'if' in my statement.

It is presently at $1 to 5.8 GHS.

So you can add back the zeroes that were removed to get the 'actual rate'.

GonFreecss1:
And if we really want to be logical about this.

Which country does money flow into the most?

Nigeria or Ghana?

The numbers are there for everyone to see. Are these hedge funds or institutional investors stupid? Don’t they know what they are doing?


I think Ghana is honestly doing well, I think Nigeria is messing up big time. This argument is not about what you feel, it’s about what the numbers say.

Was it not here someone said something about Nigerians coming up in Negativity and what Nigerians can’t see foreign investors are seeing? Lol.

It was me who mentioned the negativity thing


The truth is

Ghanaians and (Black) South Africans are also victims of what I call "cesspool of negativity"

It's a black man problem we fight day in day out

And when we get out

It's another fight to remain out.

So when you are caught up in that condition

You dont get to see what's around u

Like the opportunity

Even for some of them who manage to see

They do not have enough funds or expertise to execute

Wiseoldman:


I spent sometime in Ghana. It felt too expensive, more expensive than naija. Like someone mentioned here. Ivory Coast is a lot better, everything is cheaper than naija. Plus these guys are calm back and are very trustworthy.

Part of what accounts for the expensive things in Ghana is the fact that they pay three times the Value Added Tax we pay in Nigeria


I was like

If Buhari wakes up and tries same in Nigeria

Prices of things will spiral

South Korean Won to US dollar rate may look high but i can tell you that Won has alot of value in South Korea!

DexterousOne:


The Japanese yen exchange more units for the dollar than say the ZAR or GHS

The Korean Won exchanges even more units for dollars than the ZAR or GHS


I have dealt with Korean won years ago

10000 won was exchanged for less than 2k naira


I know what I am saying