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Why Don't We Use Coins In Nigeria?

In all countries of europe and america,their coins are in use.Why is nigerian coins not?Is it bc we are richer than all other countries or what?

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hi nairalanders,

if coins are still in use, would anyone take anything above 500naira out?!! cuz it really sounds unreasonable to use coins to pay for some things like buying your gen. sets, refrigerators, cinema tickets e.t.c.

@ exp

you have made a lot of sense, it is just that those in charge do not read this to realize and correct many of these things!!

if anyone has a solution to profer on how we can change the note-mentality without involving power-people, i would follow, i am serious!! cuz the situation is too bad!!!!

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the thing is Nigerians are too proud they feel big and on top of the world.sha thats where we are so why should we use coins.imagine ur popsy carrying coins to silverbird galleria to pay 4 stuffs he bought,thats de-repping.

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thank o jare!

Inflation!

who wan sell something

with less than multiples of 5?

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the power of[b] INFLATION[/b]( general rise in the level of price) this is caused by two factors;

Demand-pull infaltion or Cost-pull inflation

Demand-pull inflation: demand increase higher than supply for goods, suppliers seeing that many people want their goods will obviously increase the price because of the principle of scarcity

Cost-pull inflation: high cost of production will obviously mean suppliers have to increase the selling price in order to gain profit

I hope I have sucessfully convinced you and not confused you about what inflation is all about

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when we say we need to use coins again, it dosent mean one must go about with 5000 naira coins. come to think of it, the way prices are rounded up is bad for all of us. imagine, lemon sweet sells for 3 naira, but one must be forced to buy 3 for 10 naira. even fuel attendants do the same. if we dont stop this trend, 5 naira notes will soon disappear. just wait till 'pure' water sells for 10 naira nationwide.

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how will we use coins when people think its degrading to pull out a 5 naira bill from their pockets? we think we are upclass peeps but we are just bunch of ignorant people who are open to being cheated cuz of pride, mean while 'the MAN' is taking murderous advantage of this, especially in the fuel sector. or where do u think your 4 naira change from 3,500 worth of fuel goes? multiply 4 bucks by the number of cars that pull up to get fuel in a day then you'll know how we make this a**holes rich. besides i think there's this cool thing about coins, u nko?

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In ghana they use coins and its pretty cool instead of always holding notes

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There's this 'coin-phobia'.people dont want to use them even some banks reject them too.the last time i saw some coins was at a friends place.gues what they used them for - Antiques.

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What have you and I do to bring those coins to use? I think if we can profer answer to this question by our attitude, I guess the coins would be itself in our country again and the issue of inflation would be drastically reduced at the long run.

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As a previous poster said, change all naira notes below N200 to coins. We, the people will accept them.

[list]

[li]Coins are longer lasting

Coins are harder to counterfeit

Coins are easier to use for small regular transactions such bus conductors, recharge cards, buying small tomatoes on your way home, gala, etc[/li]

[li][/li]

[/list]

I remember using coins to support 'kola' in our tradition

Bring back coins I say - it's nothing to do with value of money

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no thanks to our leaders

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things are way too damn expensive in nigeria, even sweets are sold for 10 bucks,

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When the government was reintroducing coins, she dint consider what goods are services would be a base to absorb such new things that most individuals would not readily accept. In countries like europe, coins were very prevalent in trade because many essential services like paying for parking space, phone calls at phone boots, drink and coffee dispensers use coins. Since this is what people use everyday and the services were there, of course, they had to have coins to use. I was thinking the government was going to adopt a similar approach and provide services in such a way that coins would find a home but lailai, government would just copy and think that every other thing would sort itself out.

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Coins are still used in University of Ibadan although it is strictly for the cabs in the school. People are beginning to reject them as well

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It is because coins can cause injury to people's faces when being sprayed in owambe parties.

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na only shoprite i don see for where dey they spend coins

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5, 10, 20 and 50 naira suppose be coins as our 1 kobo and 2 kobo no go fit buy anyting

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coins are used in the nothern parts of nigeria

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If you can't use coins to buy something as small as sweet, what else will you use it for?Spraying?

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ppl rejects it, even if u bring N10 worth in coins to purchase an item worth N10, the market woman would reject it, so it the mentality attached to it, as worthless, i remenber when i was still very young we value coins, and we saved and valued it if its been given to us as a gift, but now e don change, make u make mistake give small pickin coins now, even if the coins wey u give am worth N20, e go use am stone u

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the economy has to improved DRASTICALLY before the coins can even be worth anything. they are so worthless there is almost no point in having them.

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There is nothing of small prize in Nigeria.

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Please,don't tell me Nigeria still mints coins because that would be serious money down the drain.

If they wanna bring back the coin culture,let them mint N5 denominations.

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inflation will not allow it.

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Actually the coin in used for some petty purchase in other developing countries, like buying soft drink and laundry, he in Nigeria we don't have all dos, i guess thatz what makes it useless

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the solution is this

make 1000, 500, 200 and 100 nairra coins. and lower denominations notes.

I think you are right Duality.

I remember we stopped using coins around the time heavy 1 naira coins was introduced.

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The same people who made 1000 naira notes (for easy stealing), made the coins unacceptable and valueless.

You can imagine stealing coins of 5million naira.

Our leaders are greedy. As long as they can satisfy their greed, they are ok with anything.

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We are not ready technology wise,

In developed countries coins are used mostly with high-tech machines to buy drinks and snacks, washing machines, telephone calls, etc.

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the solution is this

make 1000, 500, 200 and 100 nairra coins. and lower denominations notes.

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it's cuz Nigeria is a corrupt country dats why we have not been using coins, in fact what can you buy with 1 kobo?,1 naira? nothing so it doesnt make any sense to me at all .cost of living is crazy, no price control,inflation e.t.c

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When people were rejecting it, I tried being the good guy - collected it - but nobody will collect it from me. I felt as if I was a leper (with dow 4 that matter). One day I gathered all of them and went to the bank. The rejected, telling me to go spend it. Since that day, I never touch those metals again and never!

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sorry how did he try it? he only redesigned them or change their color

If they can put th price of petrol at say 67Naira N68 or 103 then people should always ask for their change!!!

they should stop rounding off the price

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there are coins in Nigeria, right?

1 and 2 naira coins? but its worthless!!!!

so what's the point of using them?

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good question.

this is  psyco-related if you ask me.

Everyone like to be a big man and you dont want to be seen carrying about 'jingling coins' in your pocket.

Nitel had this in good old days, area boyz tap the line and everyone call for free.

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At least they should introduce pay-phone on the streets where you can make calls with coins or clean water machine which you can refill your bottle with coins,

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that coin thing is a potential weapon you know

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Increase the value of the COIN and definitely, we would start using them.

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it is becos even the average nigerian, does not value the coins, We need use it

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Coins? Our money is almost valueless and how much does a candy cost? N5.00 does not have a value, so why would the coins be used?

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Soludo tried to bring back the coins but the mentality of the people could not curtail it. When i tried to find out why they rejected they said its because its heavy. But thats not an excuse even others have it without any complain.

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