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What Happened To Soludo's Coins?

Can any erudite economist or anybody at all tell us why the naira & kobo coins failed?

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what is the correlation btw electronic payment ,coins & the mallam selling tomtom,my friend?

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that culture was brought on by inflation in the past (it is no longer the case in d present dispensation) and the backwardness of the economy. dont forget we are only just trying to play catch up on technology and have never been at the cutting edge of these technologies.(electronic payment systems)

if we had, inflation would not have caused people from spending coins because there would be less notes in circulation and using an electronic form of payment will be more widely accepted and possible

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If you ask me,it has little to do with culture & more with inflation.

The cheapest item one can buy (tom-tom) now sells for about 3 for 10 bucks !

You can't even get biscuits for less than N5 nowadays.

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like i said before, since the large denominations in notes are still very much available, the coin culture is still slow to catching on but as soon as d card culture becomes d in thing, there'd be more use for d coins

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Hmn. Nigerians are no longer used to carrying coins. Its a thing to do with their mentality. The coins would no longer work in Nigeria unless of course they come in higher denominations.

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when they were introduced, there was massive distribution thru banks. you had to take about 2% in coins anytime u withdrew money.

i still have some N1 and N2 coins

yes, people do spend it

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what makes u think the coins concept has failed?

the only reason the coins are not so common as u'd expect is that we are not totally cashless yet!!!

as the card and electronic payment culture deepens, you will start noticing more coins in circulation because people will need coins to pay for small services that cards cannot be used for

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Coins,both naira & Kobo

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Have u spent Soludo's coins before(or observed it being spent)?

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