N50 N100 and N200 are becoming less common...... ATMS dispense only N1k and N500 and these notes are now more in circulation.

Nigeria will get worse than Zimbabwe at this rate.

Watch as everything will now be priced at N1000 and N500 multiples.

N2000 note is near.

You're right, I always wonder why we have N20, N50 and N100 if we can't get lower than N500 from ATMs. As a matter of fact, even inside the banking halls, they have made the lower denominations almost invisible! A country where change is scarce will always suffer economically. When price increases in Nigeria, it increases in N50s, N100s...hardly will an item increase by N10 or even N20 and that is killing our economy. Pepper went from N50 to N100, instead of N55 or N60, N70 because we have mostly high denominations in circulation

Musiwasious.

BigBashiru:
N50 N100 and N200 are becoming less common...... ATMS dispense only N1k and N500 and these notes are now more in circulation.

Nigeria will get worse than Zimbabwe at this rate.

Watch as everything will now be priced at N1000 and N500 multiples.

N2000 note is near.

You want to blame ATM for Inflation caused by Buharis bad governance?

FarahAideed:

You want to blame ATM for Inflation caused by Buharis bad governance?

Buharis governance some say is good.... it's Nigerians that aren't governing themselves and have failed themselves......

Buhari is no ones scape goat. Pls leave Buhari out of this - it will be more appropriate to blame CBN Govenor.

CodeTemplar:
Musiwasious.

I don't understand why u bring that name musiwa to this very apt topic.

If u can't comprehend and comment on the topic just move on.

backnbeta:
You're right, I always wonder why we have N20, N50 and N100 if we can't get lower than N500 from ATMs. As a matter of fact, even inside the banking halls, they have made the lower denominations almost invisible! A country where change is scarce will always suffer economically. When price increases in Nigeria, it increases in N50s, N100s...hardly will an item increase by N10 or even N20 and that is killing our economy. Pepper went from N50 to N100, instead of N55 or N60, N70 because we have mostly high denominations in circulation

When prices increase in Nigeria as of today it now increases by N500 (in part due to greed - ppl will always want more), N200 before N100.

princemillla:


I don't understand why u bring that name musiwa to this very apt topic.
If u can't comprehend and comment on the topic just move on.

? ?

[s]

BigBashiru:
N50 N100 and N200 are becoming less common...... ATMS dispense only N1k and N500 and these notes are now more in circulation.

Nigeria will get worse than Zimbabwe at this rate.

Watch as everything will now be priced at N1000 and N500 multiples.

N2000 note is near.

[/s]

absolutely thrash m.
So ATM dispensing #1000 & 500 will make things price up

Lol, economics should be made compulsory in high school.
This is an insult to me.

Sammy07:


absolutely thrash m.
So ATM dispensing #1000 & 500 will make things price up

Lol, economics should be made compulsory in high school.
This is an insult to me.

Imagine what this Mallam is saying. when did Aboki become an expert in economics. oya Mallam tell me the truth, how many people did you beheaded today. I won't tell anybody. say the truth

Sammy07:


absolutely thrash m.
So ATM dispensing #1000 & 500 will make things price up

Lol, economics should be made compulsory in high school.
This is an insult to me.

Let me not say what I wanted to say.

BigBashiru:


Let me not say what I wanted to say.

Definitely you're used to ATM.

If you're used to collecting money in the bulk room, you won't say lower denominations are scares.

[s]

backnbeta:
You're right, I always wonder why we have N20, N50 and N100 if we can't get lower than N500 from ATMs. As a matter of fact, even inside the banking halls, they have made the lower denominations almost invisible! A country where change is scarce will always suffer economically. When price increases in Nigeria, it increases in N50s, N100s...hardly will an item increase by N10 or even N20 and that is killing our economy. Pepper went from N50 to N100, instead of N55 or N60, N70 because we have mostly high denominations in circulation

[/s]


Which kind reasoning is this nitori olohun
Hope you're not done with your first degree

BigBashiru:


When prices increase in Nigeria as of today it now increases by N500 (in part due to greed - ppl will always want more), N200 before N100.

Exactly, the bigger items increase in multiples of N500s while the smaller items jump from N50 to N100 straight, if you ask why, they'll tell you they can't look for change...It is well.

Sammy07:



Which kind reasoning is this nitori olohun
Hope you're not done with your first degree

Just so you know, I'm done with my doctoral. Read: CBN Moves to Tackle Inflation with Lower Naira Denominations (Thisdaylive, 2018),
Currency Denominations and the Price Level
(Chau-nan Chen,1976 in journal of political economy)

backnbeta:

Exactly, the bigger items increase in multiples of N500s while the smaller items jump from N50 to N100 straight, if you ask why, they'll tell you they can't look for change...It is well.

[s]
Just so you know, I'm done with my doctoral. Read: CBN Moves to Tackle Inflation with Lower Naira Denominations (Thisdaylive, 2018),
Currency Denominations and the Price Level
(Chau-nan Chen,1976 in journal of political economy)

[/s]

1. We've been using 1,000 note since 2005 or so, hope you know? I wonder why inflation didn't arise then

2. Bigger naira notes doesn't cause inflation, stop writing rubbish.

3. inflation arises when there is limited number of goods.
For example When Buhari closed border to stop importation of rice, the price of rice increase with over 200% reason is, we have limited rice production in Nigeria.

if we have over 1M rice producers in Nigeria, price of rice will decrease vigorously.
for now we have less than 100 people and company that are engaged in rice production.

Following

Sammy07:

[/s]

You cannot reason people out of a position that they did not reason themselves into

OP I think you’ve got a point, following.

Sammy07:


Definitely you're used to ATM.

If you're used to collecting money in the bulk room, you won't say lower denominations are scares.

People just like creating nonsense and unnecessary arguments - so nigerians collect money from "bulk room"

Sammy07:

[/s]

1. We've been using 1,000 note since 2005 or so, hope you know? I wonder why inflation didn't arise then

2. Bigger naira notes doesn't cause inflation, stop writing rubbish.

3. inflation arises when there is limited number of goods.
For example When Buhari closed border to stop importation of rice, the price of rice increase with over 200% reason is, we have limited rice production in Nigeria.

if we have over 1M rice producers in Nigeria, price of rice will decrease vigorously.
for now we have less than 100 people and company that are engaged in rice production.

Inflation had been rising since 2005. Its really simple, ATMs today only dispense N1000 and N500 and as a result things are priced in N1000 and N500 multiples simply because it is more readily available....

[s]

BigBashiru:


Inflation had been rising since 2005. Its really simple, ATMs today only dispense N1000 and N500 and as a result things are priced in N1000 and N500 multiples simply because it is more readily available....

[/s]

You're not serious.
And who told you lower notes ain't available

Why then do we have goods less than #100?

That's not the cause inflation Ogbeni.

[s]

BigBashiru:


People just like creating nonsense and unnecessary arguments - so nigerians collect money from "bulk room"

[/s]

Ask any POS operator or any big business men around u.

You can request for new notes (esp if you're well known in the bank or you're a big business man)

and you can request for lower denominations.

I have collected 500,000 of (#50) from the bank.

It's not everyone that uses ATM to withdraw some uses cheques and withdrawal slip.
There are higher chances that lower notes will be giving to you than higher Notes.


You need to read Money multiplier in economics.
or how money circulates.

Sammy07:


You're not serious.
And who told you lower notes ain't available

Why then do we have goods less than #100?

That's not the cause inflation Ogbeni.

I said lower notes are not available via ATM and ATM is the largest dispense channel.

Anyway, please I am done. Thanks.

BigBashiru:


I said lower notes are not available via ATM and ATM is the largest dispense channel.

Anyway, please I am done. Thanks.

Pls shut up, stop creating irrelevant theories.

Yes, ATM is the largest dispense channel, it doesn't mean that Dispensation of higher notes makes inflation increase.

Inflation arises majorly from demand and supply of goods.

I'm sure some of u will the thinking that nah your savings account #2,000, #5,000, #10,000 money is what the banks use to run the business and to grant credit.
SMH.

Just give me one goods, that jumped from 100 to 500 100 to 100 500 to 1000 200 to 500 200 to 1000 300 to 500 300 to 1000
Mtcheww.