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