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Inflation Makes N20, N10, And N5 ‘Irrelevant’ In Nigeria’s Economy
Inflation Makes N20, N10, And N5 ‘Irrelevant’ In Nigeria’s Economy....KINDLY READ THE FULL STORY HERE▶
As inflation continues to bite harder, lower denominations of the Naira currency, such as N20, N10, and N5, are becoming increasingly irrelevant in Nigeria’s economy, according to a report by Abdul Seye……..READ ALSO
Previously, these lower denomination notes were commonly used for small transactions, such as purchasing a sachet of pure water or settling small fees. However, their purchasing power has significantly diminished over the years due to the rising cost of goods and services.
A market survey highlighted by DAILY POST revealed that more than half of Nigeria’s legal tender notes can no longer make meaningful purchases. For example, a sachet of pure water now sells for N30, while candies like Tom Tom are retailed at two pieces for N50.
Despite the Central Bank of Nigeria (CBN) recognizing these lower denomination notes, their practical utility has diminished as prices are now often rounded up to 50 or 100 Naira, making the smaller denominations irrelevant.
The report also discusses the depreciation of the Naira against the dollar, with $1000 now worth more than a million Naira based on the current exchange rate. This disparity further emphasizes the diminishing value of lower denomination notes.
Experts interviewed in the report suggest discontinuing the printing of lower denomination currencies due to their declining utility and high production costs. Some propose adopting a re-denomination policy similar to Ghana’s, which removed zeros from their currency to streamline denominations.
While previous attempts by the Nigerian government to introduce higher denomination notes or coins faced public backlash, experts argue that the economic landscape has changed, necessitating a reevaluation of currency policies.
In conclusion, the report underscores the need for a comprehensive review of Nigeria’s currency denominations to align with economic realities and address the challenges posed by inflation and currency depreciation.
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THE GREAT BETRAYAL? Aisha Yesufu Tears Into NDC Secretary Over Broken Promises And Secret Deals!.
Aisha Yesufu has publicly slammed the Nigeria Democratic Congress (NDC) leadership following a controversial FCT senatorial primary. In a viral video, the activist accused party officials—including National Secretary Ikenna Morgan Enekweizu—of manipulating the process behind closed doors and failing to honor previous commitments. While party officials cited her late entry as a reason for denying her the ticket, Yesufu rejected claims that she withdrew from the race, insisting she stayed until the end. Though she criticized the primary as deeply flawed and subverted, Yesufu confirmed she will not pursue legal action, stating she refuses to waste energy on a grievance system meant to exhaust participants.....KINDLY READ THE FULL STORY HERE▶
Human rights activist Aisha Yesufu has voiced strong opposition to the Nigeria Democratic Congress (NDC) leadership over their handling of the FCT senatorial ticket. Yesufu alleged that the primary was decided in secret after procedures were unexpectedly altered and the process was moved from a direct primary system to a delegate-based one. She specifically targeted the National Secretary, arguing that the party failed to keep its public promises. Emphasizing that she remained committed to the race despite the obstacles, Yesufu stated she would have accepted a fair loss, but chose to walk away from the contested outcome to avoid a grueling and futile legal battle.
Option 3: Quick Highlights (Best for Infographics)
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The Conflict: Aisha Yesufu challenges the NDC over the management of the FCT senatorial primary.
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The Allegations: Yesufu claims the process was manipulated behind closed doors, with last-minute venue changes and an unexpected shift to a delegate-based system.
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The Criticisms: The activist accused party leadership, specifically the National Secretary, of failing to uphold official commitments and broken promises.
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The Outcome: Yesufu denies dropping out of the race but confirms she will not head to court, labeling the grievance process as an attempt to “wear people down”.
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POLITICAL SHOCKER: Prophet Isa El-Buba Dumps Peter Obi In Massive Alliance Shift!.
In a major political realignment, Prophet Isa El-Buba has officially withdrawn his backing for Peter Obi of the Nigeria Democratic Congress (NDC) and declared his full support for Prince Adewole Adebayo of the Social Democratic Party (SDP) for the 2027 polls. Speaking to supporters in Bauchi, the Initiative for a Better and Brighter Nigeria (IBBN) convener stated his move is aimed at curbing the rise of totalitarianism. He praised Adebayo as the leader best positioned to restore public trust and promised to mobilize his entire nationwide movement to ensure an SDP victory, while pointedly warning that Nigerian voters are no longer for sale with bags of rice or cash.....KINDLY READ THE FULL STORY HERE▶
Prophet Isa El-Buba, the prominent convener of the Initiative for a Better and Brighter Nigeria, has announced his departure from Peter Obi’s camp to endorse Prince Adewole Adebayo of the Social Democratic Party (SDP). During an address in Bauchi State, El-Buba framed the shift as a necessary step to protect democratic plurality and combat the risk of authoritarianism in the nation’s political landscape. He emphasized his belief in Adebayo’s vision to rebuild national values and confirmed that the IBBN’s grassroots network will now be focused on mobilizing support for the SDP. El-Buba also took the opportunity to caution against vote-buying, asserting that Nigerians are determined to restore the country’s glory through genuine leadership.
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The Switch: Prophet Isa El-Buba leaves the Peter Obi (NDC) camp to endorse Prince Adewole Adebayo (SDP) for 2027.
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The Reason: To prevent a drift toward “totalitarian politics” and protect democratic plurality.
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The Strategy: The IBBN movement will mobilize nationwide grassroots support for the SDP.
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The Warning: El-Buba hit out at transactional politics, declaring: “Nobody will buy the conscience of Nigeria with money or a bag of rice.”
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“I Have Jonathan’s Certificate Of Return!” – Agbedi Drops Shocking Political Claim.
Fredrick Agbedi, a House of Representatives member representing Bayelsa State, has called on Nigerians to applaud the Peoples Democratic Party (PDP) for encouraging former President Goodluck Jonathan to make a political comeback. During an appearance on Arise Television’s morning show this Wednesday, Agbedi maintained that Jonathan holds the full right to seek the presidency in 2027.....KINDLY READ THE FULL STORY HERE▶
Regarding the former president’s potential candidacy, Agbedi remarked:
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The PDP has repeatedly discussed Jonathan’s potential run, and the internal processes are nearly finished.
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He is currently in possession of the official Certificate of Return, which is intended for presentation to Jonathan.
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Given Jonathan’s track record of “credible transformation” during his tenure, Agbedi argued that citizens should support the PDP’s efforts to nominate him as a solution to Nigeria’s current challenges.
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Emphasizing the spirit of national service, Agbedi questioned the opposition to Jonathan’s potential return, asking where else a dedicated leader should serve if not for the betterment of his own country.
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He confirmed that should Jonathan choose to run, it would be under the banner of the PDP.
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