Topic: C𝐮𝐫𝐫𝐞𝐧𝐜𝐲 R𝐞𝐝𝐞𝐧𝐨𝐦𝐢𝐧𝐚𝐭𝐢𝐨𝐧 & Di Use of Di Old Coins in Naija (Read 284 times)

Of course yes they know what they are doing.  How come under their watch all these are happening and they are quiet over it.  They are just bereft of ideas to run the affairs of the nation. Statutory heads and ceremonial leaders without conscience.  All they know is embezzlement and financial recklessness. No economic planning to salvage the nations economy. What they know is to keep recruitment their lackeys into juicy position to ease their ways into the covers of the nation and various agencies to smoothly continue with the goal of siphoning funds.

One of the reasons that Nigerians government has not be able to force those crypto exchanges to have offices in Nigeria and be taxing them. 

The reasons are obvious, but they are not seeing it. Incompetent leadership. Not all those that went to school are educated or have enough knowledge and experience to make a great economy.

Chief no be small. I  check exchange rate today I no fit vex
 Naira no get value at all. Our leaders and their puppet dem don kukuma finish am. Na the poor masses I dey pity like this because Na same fellow Nigerians go still take advantage of the situation dey ripp other fellow Nigerians based on the levels say fuel price things. I will for Nigeria.
How did we get here?  Is the labour of our heroes past in vain? How come our leaders are comfortable watching how the economy of our nation is crumbling and devastating people. Where did Nigeria go wrong to be going through all this crisis? So many unanswered questions waiting and begging for answers.

The people in government sabi wetin dem go do to make owa country great again but dem nor go like do am because e go spoil dem pocket money to dey chop us dey go. As exchange rate dey high, e dey benefit many of dem because most of dem get one business of d other outside Naija and dem dey earn in foreign currencies. So, d more d naira dey fall d better for dem earning power. E just be like we all dey here and dey get campaigns. On a weekly, owa kishi dey rise but d good ones among us wey get conscience nor go still like make e continue dey climb up because of many others wey e go dey affect negatively. Those without conscience nor send.

No where that CBN said naira re-denomination will make naira to compete United States dollar. This is what CBN talked about what you are or that you may be referring to:

You are definitely right about this. Nigeria needs more export and also in the process there will more products and services that will be created locally, instead of depending more on imports. Although, a government that wants to do something good can begin this way, but if what is affecting the economy is not tackled, the price of naira will begin to decrease again and again as the government will start depreciating naira as it is now and nothing changed.

This one dem no sabi o. Na to dey come up with useless policies wey go warrant the devaluation of our naira at a free fall state make the politicians dem dey pack am well well as e sweet dem. Making room for policies to suit the exportation of our local produce should be a priority for them to accomplish now as they are trying to strengthen the naira value. As you have said, if these policies are looked into, the naira would gain more value as foreign countries would be eager to purchase our local produce with our currency which is a good idea and a welcome development.

These EeePCee people sef. E bi like sey na comedians plenty pass serious minded people for there. See d type of talk wey dey comot from a whole CBN. So, for dem mind na to redenominate d naira go make am compete with the US dollar, ba? Jokers. Instead of this government to find ways of creating export, they're there talking about irrelevant stuff. Create export of owa goods and services and people go need d naira to pay for them. Dat way, the naira will be strengthened and in high demand.

Omo when I see this post I go begin do research by force to find out the authenticity of this post. Lo and behold CBN don come out come debunk the news say na fake and them no get anything to with am say nothing of that nature dey exist.  I believe say this platform na to educate us well and to update us of happenings but at least make we try dey verify information and their source before casting so as not to give out wrong update wey no suppose be. Here na global platform as well anything we say hear international community dey also see too.

Thank you for drawing our attention to di truth say CBN no get anything to do with dat publication, di rate wey fake news de fly now no get mate. Aldo why Nigerians easily believe di fake news be say we no go de surprised if our government talk dat kind thing, because na dem way, always de put di cart before di horse. Di root of why naira de loose value, wey de cause inflation be say we be consuming nation, even di crude oil wey we de export, we de still import am back as finished product, wey be fuel. All di money wey dem spend for subsidy never reach for every state to get dem refineries? Abi na power supply wey suppose de steady and cut cost of productions for di country, our underlying problems de plenty but na secondary matters like naira redesign, how to tax cryptocurrency, how to borrow money pay dept, dash citizens money wey no fit change dem lives, na im dem de focus on. Di koko of our problems for Nigeria, na corruption, as di country no de move forward as e suppose, e de favour some people in high places, sodiafo, dem go sabotage anything wey go bring meaningful development for di country.

Thank God say na fake news because this one na nonsense wey them bin won do. We need to dey careful with wetin we dey read and they hear so that person no go dey vex for wetin e hear. The first time wey I see this post na so I just dey park because, he dey clear say na low mentality project na him federal government won embark on and e no go easy to achieve am. I beg make OP lock this thread since na fake news and nothing to discuss again on this topic.

@DaNNy001, you don talk Wella for the matter, this our politicians know no watin good for this country, instead of them to think of how them go take create good job opportunities and good roads then make our refinery them they work but them they do another thing way go make the country hard more and more for the citizens.
Since the previous issue way happen for this our country (endsars) way even the whole world hear about am self nothing still happen, so even if the yours talk nothing go change for the country.
The only thing way fit make 9ja good again, na for God to come down from heaven just watch the citizen of the country one after the other.
Just early this year, things hard for this country way people go get money them no go fit collect am, even if them go fit nah buy them go buy am, now another one dey front they wait.

I suspect as much cos I never use my ears hear such news. By the way how the expect such a thing to happen wey be sae we get so many outstanding problems for this country and you wan come bring another confusion give people now wey everybody d complain of hardship.

If this is to happen, enough provision suppose d on ground so that people no go end up suffering themselves again as they do during the scarcity of naira notes. Nigeria's supposed get the info before hand(6 months notice) so that everyone go get themselves prepare of how to cope with the new development. No be to give peso 2 months notice and expect us to accept am with an open hand wey be sae we get pressing issues like insecurity,  unemployment, high tariffs of electricity, fuel increase and high cost of living.

I believe sae all this things wey d happen for this country supposed to be one step at a time, no be wetin FG suppose to the rush us like sae their 4years tenure don d end so

Fake News

I was just looking out for Central Bank official page after the announcement of the New CBN governor that was appointed by president Bola Ahmed Tinubu and I found out that this post that was pushed here is false and fake according to CBN Twitter page.

They posted with the screenshot below.



Source: https://x.com/cenbank/status/1701869656833761742

The CBN don't have anything of such in their plan. Thank you.

This is not scam at all. What I probably think that you are thinking is that some people will lose if naira is denominated, but no. This is how it would be, money that everyone is having will be divided by 100.

For illustration:
Anyone that is having ₦50000 in bank or at home, or you have a property worth of ₦50000, or you want to buy an item that is worth ₦50000. The ₦50000 will be divided by 100 which makes it ₦500. So the amount of naira that you will spend will be less and the amount of naira that you will receive will also be less, but in a way that it is as of before which is now.

We are not the first country that has done something like this. Ghana, Germany, South Korea, China and many other countries have done something like this before. If you can remember very well, you will remember when Ghana did it in 2007.

I believe say this nah the same words them use wen dem bin wan do th naira redesign. You know, we naija politicians no go stop to look for avenue to take loot funds and I'm not surprised about this one. E look promising on the outside but this nah pure scam and another means to suffer the poor masses.
 The other day, nah so them discover over $300m for CBN deputy governor, Aisha Ahmad custody wey she wan move go different banks. Who knows if them bring in this suggestions just to cover for losses she fit don bring?
See, something we suppose don understand be say we government no fit do anything good for us without having to benefit inside. See the naira redesign for instance na, after all the sufferings e come be like say the new naira don run into hiding..

My broda I dey feel your pain as me too dey carry the same pains. This country no just no watin to do ? Or abi e dey hard them to understand say no be all this things nai the nation need okay just imagine as you talk say dem come remove and implement this plans of theirs wey Job no dey and employment sef no dey how we wan take still cope. Na so the previous CBN governor and their adminstration do rubbish go cause havoc for the country and till now we still dey recover, now dem don start with another idea wey no be the major issue for the country. Make them build infrastructure like active refinery, good roads and create job opportunities then the country economy go speak for itself interms of growth.

It is easier said than done. Let all these leaders stop saying things that they don't know how to go about on achieving it. The country don't need all these to strengthen the economy but a productive government. I wouldn't believe anything that these people are saying because anything that they do successfully, is to benefit themselves only and not for the benefit of the citizens.

How is this possible, when Ghana cedes is has value than the naira. We don't produce anything that other countries depend majorly on,and that if we don't sell,there will be lack of it. Our refineries are not working. If only one can be put to use,it will help to reduce some unnecessary expenses and the money will be uses to tackle one problem. We have abundant natural resources but the government is only focused on crude oil.

Common farming, we can't and the country imports almost all that we eat. Making Naira the power currency in Africa is a dream and I don't think it will be easy to achieve because there are other Africa countries that their currency is valuable than ours and their economy is in a good shape than ours. For example South Africa,only if we can make proper use of our natural resources and stop corruption or jail/kill any corrupt leader that stole money doing his stay in office,so that any leader that gets into power will be useful.

I don tok this tin before say the goal of say  N1 = $1 nor be a measure of whether we dey do well as a country or not. Make our government first fix our corruption wey don destroy the fabric of the nation, make dem fix the electricity wahala nd create more industries so that people go dey employed and we go turn from consumer nation to producer nation. Another thing wey dem fit do na to echange one goods or products for another for the foreign market. Like We exchange oil for equipment from US instead of to use Naira or Dollar.

This na wetin dem suppose pursue and not the redenomination or the naira.

My brother, this matter tire me well well, but watin I as a 1 person go fit do? Nothing, but nah to keep on hoping for God to help us. The whole matter nah just for the Christian to suffer as you talk, just imagine say nah time way for the Muslims to celebrate their normal salla, abi the Nigerian government go still make this kind of decision? No, I no sure because as that period nah for their own enjoyment alone them no go want make their fellow Muslims suffer.
The worst part of the matter be say, way thing happen for time of cashless policy nai go still happen again so that Christians no go for celebrate the Christmas wela.
This country don reach the extent way Christian nai go rule us, since way nah Muslim start to dey rule, the country no dey in the right shape like the way e been dey before way GOODLUCK EBELE JONATHAN dey rule us, as of that time things good well well, but because of say good person no dey last, them comot am for seat, and since then nai country bad.

I don stop to de believe all d lies wey our politicians dem de give us because dem de use our attention play na why I prefer to Dey my side and hustle for my daily bread.

Last last we go come hear say dem allocate one kind big money for this process wey dem wan do which me and u know say na dem go chop d money, and dis process go make d hardship more strong because our technology no de work perfectly if dem wan de change money now transfer and cashless transactions no go de go again as we experience during Emefele.


Exactly! I think if the government focus on making sure our refineries are working properly, the country will not more depend on importation of fuel and this will help the economic situation of this country and it will play a very significant role in stabilizing our currency’s value and also create job opportunities among Nigerians.