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Briggz5d

Harsh words, comments and total disagreements from all concerned have trailed the recent announcement made by the Central bank of Nigeria to introducing new 5000 Naira notes and coins.


When the 1000 Naira Note was introduced, people said it will cause inflation and make it easier for political office holders to loot public funds, the same reasons are being used to kick against the CBN's plan to introduce 5000 Naira note.


The CBN is making efforts to  inform the public about the merits of the 5000 naira and coins, but as far as i can tell, no one seems to be getting the message. - Not even me.


I'm not against the introduction of 5000 Naira and Coins - I'm not in support of it either.. lol
Sitting on the fence on this one. Maybe when i know the reasons why it is being introduced, then i can make an informed decision.


The main reason why most people are kicking against the introduction of coins is because of how inconveniencing it can be to carry around.
To the announcement of Coin dispensing ATM machines, a talented cartoonist replied with this picture from Business Day:

Central Bank of Nigeria Coin Dispensing Machine - Ngbuzzblog
Finding Humor in Coin dispensing Machines.

 But seriously tho - No one is forcing you to USE the new notes / Coins.
It's Illegal to reject Legal tender of a country, but you can bank it or change it to other denominations you're Comfortable with. - People just like to fuss over things they don't understand, instead of asking for clarification.


 - My Opinion-
Yours are welcome too.

Update: 22/9/2012
There are confirmed reports from the BBC and Shariareporters that President GoodLuck Jonathan has suspended plans to make changes to the Naira Notes.
This was due to criticisms, protests and condemnations received since Governor Lamido Sanusi of the Central Bank of Nigeria was given the Go-Ahead.The two chambers of Nigeria's legislative houses were also not in support of the the New changes.

To clarify: The Policy is not being abandoned, it is only being suspended to allow enough time to inform Nigerians about.

« Last Edit: September 24, 2012, 10:42 AM by Briggz5d »

 

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