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Nairaland Forum / Nairaland / General / Politics / How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? (203 Views)
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How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by shortgun(m): 10:02pm On Apr 19 |
Since the arraingment and subsequent sentencing of Bobrisky to 6 months imprisonment for spraying some naira notes in an event. I've been scratching my head to understand how exactly does spraying money in occasions and events affect the value of our currency and its implication on our economy. It's common practice for Central Banks all over the world to replace mutilated and wore out currencies at no cost nor punishment to the citizens. Is it that the more naira notes people spray at events the more it loses value? How does the spraying affect our GDP and GNP? How does it affect our economic growth? What is its effect on inflation and deflation? How does it affect our interest rate?. How does it affect SMEs and entrepreneurship in our country? Please kindly explain it to me like a 10 year old 🙏 |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by DeeNet1: 10:04pm On Apr 19 |
Everybody wants problem 😃 |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by immortalcrown(m): 10:09pm On Apr 19 |
Mutilation is the problem. Mutilation affects the currency in many ways. The urge to spray the currency is why people sell and buy the currency with the same currency within Nigeria. Is it good? |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by shortgun(m): 10:27pm On Apr 19 |
immortalcrown:Are you saying the urge to spray the naira affects its value? Like the more naira people spray the more its value will depreciate? |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by immortalcrown(m): 10:30pm On Apr 19 |
shortgun:When you buy 10k Naira at the price of 11k Naira or 12k Naira, isn't the value negatively affected? When you mutilate the Naira for the government to crush it and print a replacement, isn't the value negatively affected? Even about the ecstatic value, when you dirty or tear the Naira notes, isn't the value negatively affected? |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by GanagiBitrus: 10:47pm On Apr 19 |
Are you aware it costs CBN considerable amount to print a single note? So you should handle the notes with care to prolong their lifespan, not squeezing, trampling & mutilating them. |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by shortgun(m): 10:50pm On Apr 19 |
immortalcrown: |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by 2Radii: 10:56pm On Apr 19 |
shortgun: All the countries that u are slæ.ves to, all the countries that u re lickin their as.s, all the countries u re calling a developed countries would never permit their notes to be sprayed in an event, but u re too sen!.le and unfo. rtun8 to know that, so far it's Nigeria everything should be rhe other way round to please you and yet you will be the first to call the country an unorganised country...shior. The country will never fa...vour u and ur likes. Oloriburuku |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by jara: 10:56pm On Apr 19 |
Spraying money started with praise singers and drummers. They used to call musicians ALAGBE. It went viral with spraying women and celebrants until it went haywire with monimissroad. |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by shortgun(m): 11:01pm On Apr 19 |
2Radii:I believe you've never step foot outside the shores of Nigeria. For starters, it's not a crime to spray the us dollar in the US. |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by 2Radii: 11:04pm On Apr 19 |
shortgun:U re lying... U can't spray dollars as u like, likewise pounds sterling |
Re: How Does Spraying Of Naira Notes At Events Affects Its Value And The Economy? by shortgun(m): 11:16pm On Apr 19 |
2Radii:What do you mean by that? In the US and UK people give cash to beggers and performers on the street and there's no law against that. They can decide to throw the currency, squeeze it and drop or do however they please without any penalty. Spraying money is more of a cultural thing for us just like traditional marriage. Will you say because people in the US and UK don't perform traditional marriage rites we should equally do away with it? All these long talk is not necessary, I just wan someone to tell me how spraying money in events affects the value of our currency |
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