No even reason am go that side, that one no mean say we go escape the situation wey be like masterminded situation. We never know our problem for this country. Believe me, person wey come out say ihn dey forght for human right activist most time dey worst past the people wey ihm dey fight if power reach in hand. I don talk this thing before say, we need to start education against corruption from primary school.
As e be now, even children no say, na make everybody hustle for themselves and family. Person wey enter political office today, go first help family members before , e go even asnwer others.
D day wey senator and other offices money is reduce, Nigeria go get chance breath, becos we dey suffocate now
Topic: If the coin was still in existence (Read 59 times)
Nigerians stopped using coin and.kobo in the year 2007. When you compare the period when the coin was still in existence and now I can see a very big difference when I mean a very big difference you know what I mean during those days can you imagine paying someone's school fees with just hundred naira.
In a country where their currency was ones the most valuable in the world to a currency not even valuable in some countries in it's continent. Now Imagine if Nigerians where still using the Kobo and coins how powerful this country would be financially now we are so weak that we have become debtors.
If Nigerians were still using this coin and Kobo by now our currency would have been matched with currencies like the Kuwait, pounds,euro and the rest but now we are debtors what a drastic change in an economy. Our colonial masters the British are still using their pence, other African countries still counts their currency from 1 upward in Nigeria 50 naira not does not have any value again.
Na wah oo.
In a country where their currency was ones the most valuable in the world to a currency not even valuable in some countries in it's continent. Now Imagine if Nigerians where still using the Kobo and coins how powerful this country would be financially now we are so weak that we have become debtors.
If Nigerians were still using this coin and Kobo by now our currency would have been matched with currencies like the Kuwait, pounds,euro and the rest but now we are debtors what a drastic change in an economy. Our colonial masters the British are still using their pence, other African countries still counts their currency from 1 upward in Nigeria 50 naira not does not have any value again.
Na wah oo.
I don't think it works that way. They're factors that influence the value of currency in a particular country. Things like
1. Inflation,
2. The debt government owe other countries(like china in our case which we owe over $4.2 billion),
3. No exportation of goods mostly importation can influence it.
The decision by Nigeria to stop utilizing kobo and coins is not factor contributing to the naira's depreciation; the economy's current status is a significant factor. Even the 500 and 1000 naira notes were intended to be coins as the value of the naira was declining. I don't think it will stop the devaluation of Nigerian currency, and it should be noted that inflation is one of the factors contributing to this devaluation.
Facing facts, it is clear that the Naira's decline in value relative to other currencies, such as the Dollar and the Euro, is a sign of a seriously damaged economy. Nigeria has to work hard to achieve a strong economic recovery in order to stop this devaluation and restore parity with stronger currencies. The Naira would continue to depreciate in value in the absence of a determined effort to support the economy, as seen by the startling rise in value from one dollar to 650 Naira just a year ago to 1300 Naira at present.
Facing facts, it is clear that the Naira's decline in value relative to other currencies, such as the Dollar and the Euro, is a sign of a seriously damaged economy. Nigeria has to work hard to achieve a strong economic recovery in order to stop this devaluation and restore parity with stronger currencies. The Naira would continue to depreciate in value in the absence of a determined effort to support the economy, as seen by the startling rise in value from one dollar to 650 Naira just a year ago to 1300 Naira at present.
Using coins and kobo does not make the currency powerful; the value attached to them is not dependent on where the money is printed but on its economic power.
Those coins started becoming useless the moment the naira started losing value because it would become very hard for you to carry enough, which would be enough for you to use and pay for goods.
Currency like Kuwait is hard to see, and it's among the highest currencies we have in the world today, which is very high for you to compare the Nigerian naira with, at least for now that the currency has been devalued.
And even if you are to bring those old Kobo currencies back to existence where we will make use of them for buying and selling, it won't still bring back the old value that was attached to them before the country needed something that would boast its economy and not some currency.
Those coins started becoming useless the moment the naira started losing value because it would become very hard for you to carry enough, which would be enough for you to use and pay for goods.
Currency like Kuwait is hard to see, and it's among the highest currencies we have in the world today, which is very high for you to compare the Nigerian naira with, at least for now that the currency has been devalued.
And even if you are to bring those old Kobo currencies back to existence where we will make use of them for buying and selling, it won't still bring back the old value that was attached to them before the country needed something that would boast its economy and not some currency.
Nigerians stopped using coin and.kobo in the year 2007. When you compare the period when the coin was still in existence and now I can see a very big difference when I mean a very big difference you know what I mean during those days can you imagine paying someone's school fees with just hundred naira.
In a country where their currency was ones the most valuable in the world to a currency not even valuable in some countries in it's continent. Now Imagine if Nigerians where still using the Kobo and coins how powerful this country would be financially now we are so weak that we have become debtors.
If Nigerians were still using this coin and Kobo by now our currency would have been matched with currencies like the Kuwait, pounds,euro and the rest but now we are debtors what a drastic change in an economy. Our colonial masters the British are still using their pence, other African countries still counts their currency from 1 upward in Nigeria 50 naira not does not have any value again.
Na wah oo.
In a country where their currency was ones the most valuable in the world to a currency not even valuable in some countries in it's continent. Now Imagine if Nigerians where still using the Kobo and coins how powerful this country would be financially now we are so weak that we have become debtors.
If Nigerians were still using this coin and Kobo by now our currency would have been matched with currencies like the Kuwait, pounds,euro and the rest but now we are debtors what a drastic change in an economy. Our colonial masters the British are still using their pence, other African countries still counts their currency from 1 upward in Nigeria 50 naira not does not have any value again.
Na wah oo.
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