I was rummaging through old belongings today and I came across these national treasures of ours in the value of our Nigerian Coins and with sober reflections, I asked myself, why don’t we place value on our own monetary treasures and spend our own coins.
These beautiful coins were unveiled in the year 2006 during the CBN tenure of Gorvenor Chukwuma Soludo, a renowned Professor and Nigerian Economist. Nigerians embraced these beautiful coins with open arms when they were launched but sadly these coins didn’t even stay up to one year in circulation. Back then Nigerians complained that these coins were too heavy for their pockets and purses and that they so easily misplaced these coins. Before we knew what was happening these beautiful coins started disappearing one by one. How sad!!! These coins were introduced into circulations in the first place to put an abitrary stop to round figure tripping.
I know very well that our West African ECOWAS neighbour Ghana who till this very day still spend their 10 pesewas, 20 pesewas, 50 pesewas and 1 cedis coin.
Foreign Countries like Britain still value their pence, America still places value on their cents and spends their coins till this day.
So why did we throw away our own National treasure?