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Stephen
Joined: Oct 12, 2006
Posts: 16 (view all)
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Gender & Age: Male & 35
Country: Nigeria
Province/State: Abuja Capital Territory
City: Abuja
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Naira Redenomination
August 23, 2007 - 04:29 AM
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Naira redenomination policy will take effect between August 1st and by December 31st the proposed new naira notes will be legal tenders with the outgoing ones. From what I understand N20 will be the highest denomination, compare with the exchange rate US dollar will be at N1.25.
How is it going to help the Nigeria economy? How is it going to help the masses? Poverty is on the high rate in Nigeria, how will the poor people benefit? How is going to reduce the rate of unemployment in the country? What are your ideas on this? I Just need some clarifications.
Silas Stephen Odah
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Adeshola
Joined: Aug 20, 2005
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Country: Nigeria
Province/State: Abuja Capital Territory
City: Abuja
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Re: Naira Redenomination
August 23, 2007 - 05:18 AM
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I believe most Nigerians need clarification on this issue.
Most people don't understand what it is all about. Last week I watched the interview African Independent Television (AIT) granted to some Nigerians on the streets and I realised, most people do not even know what Central Bank which is the Apex Bank in Nigeria is talking about.
There should be a measure that the Apex Bank will use to expalin this issue to an ordinary man on the street in a simple language.
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Owulezi
Joined: Apr 4, 2006
Posts: 438 (view all)
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Country: Nigeria
Province/State: Imo
City: Owerri
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Re: Naira Redenomination
August 25, 2007 - 04:59 PM
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This plan has been frozen because the finance minister Mr. Aondoakaa said the plan was frozen because President Umaru Yar'Adua had not given his written permission.
Visit [link="http://www.news.bbc.co.uk/2/hi/africa/6963236.stm"]
This post was edited on: 2007-08-25 at 05:01 PM by: Owulezi
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Shweta
Joined: May 20, 2006
Posts: 234 (view all)
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Gender & Age: Female, 32
Country: India
Province/State: Delhi
City: Delhi
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Re: Naira Redenomination
September 30, 2007 - 11:01 AM
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This thread is being moved to "Work and Economics" Board where it seems more appropriate.
Warm regards
Shweta
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