True
580;
Hero James
city Lagos, Nigeria
548
5312
45
20
In Nigeria • 1 min read • Jan 31, 2023 15:16p.m.
A Dysfunctional Masterpiece
<span class="html-content"><p>Redesigning a country's currency has been in practice all over the world. With new and improved security features, redesigned currency makes forgery / counterfeiting less lucrative.&nbsp;</p><p>When old notes stay out for long, it gets defaced, hoarded and oftentimes, settles in the hands of black market traders or criminals who do illicit businesses because money is used as a store of value and a medium of exchange.&nbsp;</p><p>Nigeria through the Central Bank introduced her redesigned notes lately, but the whole process now looks like a dysfunctional masterpiece.&nbsp;</p><p>Mefi's new monetary policies didn't just bring businesses to a halt, it has also ended up paving way for hoarding by the big goons and street money racketeering. Without spending the old and new notes simultaneously till the old notes faces out, the citizens will be dealt with untold hardship due to hyper-inflation .&nbsp;</p><p>The policy has shown significant negative effects on economic activities especially on poor Nigerians due to its timing and short transition period. Nigerians are cash-strapped, inflation is on the rise.&nbsp;</p><p>With banks inconsistency in quality internet banking, Do you think Emefiele got it right?</p> </span>
A Dysfunctional Masterpiece
By Hero James
0:00 / 0:00
Send tip
4
views 455
2 share

Other insights from Hero James

Insights for you.
Samuel Ibok Marketing Supervisor @ Crusader Sterling...
city Lagos, Nigeria
In Nigeria
The Land of Promise
 Most people live their lives without seeing true beauty. Most Nigerians think they've seen it all because they've been to a few places. My dear com...
567 views
5 upvotes
1 comment
Mwambo Kate COO @ Enchird Technolog...
city Yaoundé, Cameroon
In Nigeria
Igbo-Ora
 I once heard there's a town in Nigeria called "Igbo-Ora" and that it's considered the twins capital of the world, with 158 twins per 1000 new born...
447 views
4 upvotes
1 comment
Samuel Ibok Marketing Supervisor @ Crusader Sterling...
city Lagos, Nigeria
In Nigeria
NIGERIA DECIDES
 Today will go down in history as the day Nigerians decided to move forward. Or maybe not, because some people have suffered so long with pain and s...
408 views
2 upvotes
0 comments
Samuel Ibok Marketing Supervisor @ Crusader Sterling...
city Lagos, Nigeria
In Nigeria
I had no shoes
 Dear all, Yesterday I experienced the great walk toward freedom. In other words, I trekked until my legs started shaking. Oh yeah, with my shoes on...
392 views
4 upvotes
0 comments
Samuel Ibok Marketing Supervisor @ Crusader Sterling...
city Lagos, Nigeria
In Nigeria
The Lines That Divide
 It's no news that the 2023 elections in Nigeria are around the corner, and our politicians, some of whom are ambassadors of poverty, have started m...
375 views
2 upvotes
0 comments
Nse Obot Writer. Teacher. Singer
city Lagos, Nigeria
In Nigeria
A CASE FOR JANUARY.
 The hype of December is the very sponsor of the dread of January. But upon closer examination, January is such an underrated darling. I mean, with ...
371 views
5 upvotes
3 comments
Samuel Ibok Marketing Supervisor @ Crusader Sterling...
city Lagos, Nigeria
In Nigeria
"De Play, Just de Play"
 Coughs...I came to rant responsibly, clears throat! So yeah, this would be a long post! I believe that every young person in Nigeria hears this ca...
350 views
1 upvote
0 comments
Samuel Ibok Marketing Supervisor @ Crusader Sterling...
city Lagos, Nigeria
In Nigeria
Twilight
 Sometimes things fall apart before they fall into place. In 2019, I was scarred for my life. I like to think of myself as a good judge of cha...
349 views
2 upvotes
0 comments
Samuel Ibok Marketing Supervisor @ Crusader Sterling...
city Lagos, Nigeria
In Nigeria
Ówó dà (where is the money)
 If you don't believe that the pen is mightier than the sword, then I urge you to come to Lagos. In Lagos, those with markers are more powerful ...
337 views
4 upvotes
0 comments
Samuel Ibok Marketing Supervisor @ Crusader Sterling...
city Lagos, Nigeria
In Nigeria
MY HOME FOR NOW!
 I speak of a country called a giant One whose shoulders I won't stand on As its legs have become feeble I speak...
321 views
5 upvotes
1 comment
What is TwoCents? ×