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Inflation Makes N20, N10, And N5 ‘Irrelevant’ In Nigeria’s Economy

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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 Truth Finally Out: How Peter Obi Shocked Critics By Leaving ₦86.6 Billion Behind In Anambra!”

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Oseloka Obaze, a former Secretary to the Anambra State Government, has stated that former governor Peter Obi left ₦86.6 billion in the state treasury when he handed over power in 2014. Obaze, who served under Obi from 2006 to 2014, made this revelation in a post on X amid ongoing controversies regarding the financial records inherited by successive administrations.....KINDLY READ THE FULL STORY HERE▶

Obaze noted that he was personally present on March 17, 2014, when Obi officially handed over financial documents and the Handover Report to his successor, Willie Obiano. According to him, Obiano received and signed an acknowledgment copy of the letter, which included certified bank statements detailing the state’s assets and liabilities.

Past Debates and Public Corroboration

Recalling the 2017 Anambra governorship debate organized by Channels Television, Obaze mentioned that he challenged Obiano—a certified accountant and auditor—on national television for later expressing reservations about the funds after formally signing off on the handover documents. Following this, Obiano publicly acknowledged that certain funds were left behind, though he questioned the rationale of saving money instead of executing projects.

Obaze also referenced remarks from former Taraba State Governor Darius Ishaku, noting that Obiano once told the Nigerian Press Corps that Obi left substantial funds used to finance the construction of the Anambra Airport at Umueri. Additionally, he cited comments from Abia State Governor Alex Otti, a former banker, as further public validation of the financial legacy.

Expressing confusion over why the records remain a subject of dispute under the current administration, Obaze concluded: “If Governor Obiano… would eventually acknowledge, implicitly and explicit, that Governor Peter Obi indeed left the stipulated funds; a fact that was also publicly corroborated by Governor Alex Otti… what then, one may ask, is the beef and grouse of the incumbent Anambra State Government?”

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“The Internet Never Forgets: How An 11-Year-Old Tweet Cost Blaqbonez A Major Young Jonn Feature”

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Music producer-turned-singer Young Jonn turned down a collaboration offer from rapper Blaqbonez after unearthing a resurfaced 2015 post where the rapper stated a preference for DJ Coublon over him.....KINDLY READ THE FULL STORY HERE▶

The exchange began when Young Jonn posted on social media: “I need like 5 bad friends way we go dey move in bulk!”

Blaqbonez quickly expressed interest in linking up, replying, “Oya, make we dey together, sing as one.”

Instead of accepting, Young Jonn posted a screenshot of the old tweet showing Blaqbonez’s historical preference and clapped back: “Go sing as one with Coublon.”

In his defense, Blaqbonez denied writing the post himself, claiming it was the work of his social media handler back in 2015.

Why Peter Okoye Changed His Birthday Away From Twin Brother Paul

In other entertainment news, Nigerian singer Peter Okoye has explained his decision to shift his birthday celebration from November 18 to November 30.

Speaking on the Capital XTRA Podcast, Peter revealed that his shared birthday with his twin brother, Paul, had become one of the worst days of his life over the past 13 years due to toxic family dynamics and tension.

He alleged that visitors would frequently go to Paul’s house to gossip about him before visiting him, making the shared occasion deeply uncomfortable. “I wish I could change it on my documents and passport,” Peter stated.

This development highlights the ongoing strain between the twin brothers, who initially split in 2017, briefly reunited in 2021, and parted ways again in 2024.

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“World Cup Panic: NFF Fires Back At Reports Claiming Falconets Refused To Train Over Unpaid Bonuses!”

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The Nigeria Football Federation (NFF) has strongly refuted claims that the Falconets planned to boycott training ahead of their 2026 FIFA U-20 Women’s World Cup quarter-final match against Colombia. While rumors suggested players were considering a training strike, the NFF dismissed the reports as entirely false and affirmed the team’s full focus.....KINDLY READ THE FULL STORY HERE▶

  • “Reports in a section of the media that the Falconets are planning to boycott training are an absolute falsehood,” the NFF stated.

  • “The girls are now heading to training for their last session before tomorrow’s match against Colombia.”

The Falconets advanced to the quarter-finals following a dominant 3-0 victory over England in the Round of 16. They are set to face Colombia at Stadion Miejski ŁKS in Łódź, with a semi-final spot on the line.

Squad Brilliance and Super Falcons Prospects

Reflecting on the tournament, head coach Moses Aduku expressed confidence that several players possess the talent to eventually transition into the senior national team, the Super Falcons.

Key performances have propelled Nigeria’s run:

  • Captain Christianah Uzoma delivered a crucial performance against England, saving a 33rd-minute penalty by Rachel Maltby to secure the team’s place in the last eight.

  • Winner Onajite David and Ramotalahi Kareem have spearheaded the attack, netting three goals each.

  • Janet Akekoromowei, Tosin Rafiu, and Rebecca Adegbemile have each contributed two goals to the campaign.

Emphasizing the importance of the tournament for player development, Aduku told FIFA, “I think the girls are doing well. We need to do more. There is going to be a transition to the senior national team from this junior side. So they really need to apply themselves.”

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