As Some Reject New Naira Notes, Nigeria Must Address Its Weakest Development Link

Nigeria’s biggest problem is that most of the citizens have not been fundamentally educated to a level which will make it possible for them to be effectively governed. Indeed, from election to monetary policy, we are faced with issues which to a large extent are systemic. And until we fix those paralyzes, the economic ascension we expect will not come. I am very sorry to write that.

China has 99% primary education enrollment with less than 10% university attainment. They put all the best money in basic education (primary and secondary school levels), making sure that it is really great. For the university, they don’t really care that much. The US follows a similar pattern where basis education is largely free; take a loan if you want to go to college.

For China and the US, with a strong literate base, it is easier for the government to implement most policies. Yes, people can read ballot papers and vote. People can read and follow government enactments.

But when it comes to Nigeria, with a double digit illiterate rate, it is extremely tough for the government to implement most policies, contributing to most policy failures. Consider this: “According to multiple reports, the newly designed naira notes which are gradually going into circulation have been surrounded by tales of widespread rejection. Some reports reveal that several businessmen and women are reluctant to accept the new notes as legal tender, as they have decided to stick with the old notes pending the deadline given by the Central Bank of Nigeria (CBN) to phase out the old notes. Some have expressed concerns about the authenticity of the new notes, stating that it will be very difficult to identify fake ones.”

I sympathize with these citizens since most use colors to model the value of currency notes, and when the color-scheme is confusing, problems are expected. Yes, this CBN policy is noble even though  the design  was poorly executed. Nonetheless, the government should stay the course and provide support through education and awareness via churches, markets, mosques, etc. As that happens, Nigeria must invest to deal with its #1 development problem – mass illiteracy in many communities – if the nation hopes to move to the next level.

Comment on Feed

Comment 1: Illiteracy in Nigeria doesn’t have to deal with school attendance but seriously our belief system, I got a message via WhatsApp that I should not accept the new notes because of it might be fake and some will go with the conspiracy theory not because they didn’t go to school but because they tend to believe anything that comes from anywhere, I then heard a government hospital is not accepting the new notes just on the basis of this conspiracy theory.

Prof. here in Nigeria not all who are educated are literate, the minds of Nigerians needs to develop into the evolving world before we can really get rid of illiteracy

Comment 2: I once rented a house that had bad water. When I grumbled to the Landlord. His response were ” i promised water but not clean water”. Did you not see water? Is this Landlord not a Nigerian? The CBN promised new notes, there it is. I think the issue is not education but mistrust of the political class by the citizens. Any of the social contracts with the political class been met? Tell me any of the political parties that has kept to her manifestos? Country that tells her citizens that, there is no money but the citizens see how monies are wasted. Our legislatures are among the highest paid in the World while other civil servants are still fighting for implementation of 30,000 NGN minimum wage . The political class children lives in affluence in midst of poverty of other citizens. Is this not a country that hides palliatives meant for the citizens? How then do you expect the citizens to believe in the new notes?

Comment 3: As someone who had been in the education space, I feel so bad about what our primary and secondary schools have become. I’m sorry but I have to say this, our leaders and government are terribly irresponsible, from the presidency to the local council.

Nothing worthwhile is going on in our primary and post primary public schools yet the government does nothing. Many profit-focused terrible private schools are being opened here and there yet the same government cannot effectively regulate them to see that they are meeting up with the required standards.

Apart from making primary and secondary school compulsory for every child, the government have to invest in these schools and show genuine seriousness in seeing that our children are receiving the right education.

These things are not rocket science.

I used to tell my students “if you feel you aren’t receiving the right education in any school you find yourself SCREAM.

Comment 4: Perhaps it was the fault of the national government for not educating the masses about the new notes before being released into circulation. Months should have been spent showing pictures/images of the new notes before they were released – in Canada when one and two dollar paper notes were replaced with equivalent coins we were told many months in advance. Also when new faces are added to existing notes we are similarly informed months, if not longer, in advance.

Nevertheless, primary education needs to be free for all, relevant in modernity, and compulsory at least to the age of sixteen. Many nations go further and provide post secondary education for free – I wish I got mine for free!

There are so many brilliant people in Nigeria – it should be way more prosperous than it currently is…..but you are trying hard to change the narrative Ndubuisi- all the more power to you Professor.

Newly Designed Naira Notes Faced With Widespread Rejections as Many Seem Unaware

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