Encomium
The proposed introduction of new N100 centenary note by President Goodluck Jonathan has been receiving condemnation from all corners of the country since it was announced a couples of days back.
Some Nigerians ENCOMIUM Weekly also spoke to kicked against the idea as they described it as nothing but a waste of resources.
‘I DOUBT IF THERE WILL BE A MAJOR ECONOMIC IMPLICATION’- Lawrence Onuzulike
My reaction is neutral. I don’t see it as adding to the mounting problems Nigeria is currently facing or adding to the solutions.
I doubt if there will be a major economic implication, just that it may be a big bizarre having two designs of N100 in circulation at the same time. They did something like that with the N50 around 2010 or so and it didn’t cause any major problem.
‘THAT IS A WASTE OF OUR RESOURCES’ – Mayowa Johnson
That is a waste of our resources, is that what he is supposed to do at this stage, will it add to the dwindling rate of naira, they are just foolish.
It is still the same thing, they are wasting our resources, they will definitely use extra resources, no matter how little which shouldn’t be.
‘THERE’S NO ECONOMIC IMPLICATION’- Barrister Okezie
There’s nothing wrong with the N100 centenary note. It’s not unusual to release commemorative notes or coins. There’s no economic implication as far CBN only replaces some of the old notes. They are only reprinting existing ones.
‘I DON’T SUPPORT THAT’- Friday Anyanwu
What’s the purpose of the N100 centenary notes months after the needless centenary celebrations? I don’t support that. It might cause inflation.
‘THEY ARE ONLY WASTING OUR MONEY’- Adamu Abiola
It is high time Mr. President knew that changing the N100 note is the least of our worries in Nigeria. They will only waste money in the printing of the new notes and nothing else will change.
‘I DON’T SUPPORT THE INTRODUCTION OF NEW NOTES’- Adeoye Omololu
I don’t support the introduction of new notes at this period of economic adversity. It will amount to further waste of our resources. Instead of changing only N100 notes, the CBN governor should have changed other denominations, including N200 and N500 notes.
I believe by doing everything together, it will reduce the cost because very soon, these two notes will also be changed.
‘WE CAN’T REMAIN ON THE SAME SPOT IN EVERYTHING’- Amaka Pius
It’s a good idea. We can’t remain on the same spot in everything. They do similar things in developed world. So, it’s very much welcome. But my fear is that before we all know it, billions of naira might have gone into the project.
And this will spell doom for our economy both in the short and the long runs. So, care must be taken. And it should be properly monitored so that that it won’t end up being a waste of resources.
