Why new coins, notes bear no Arabic inscriptions, by Soludo

[NewEte]

Reported by Adamu Abuh, Kano: NigeriaWorld


WITH the stage set for the re-introduction of lower denominations of coins and notes, the Governor of the Central Bank of Nigeria (CBN), Prof. Chukwuma Soludo, has given an insight into the rationale for using local languages instead of Arabic inscriptions on the new denominations.


The redesigned notes and coins will be in circulation from February 28.

At a grassroots sensitisation forum on the new notes held at the Kano branch of the CBN yesterday, Soludo said the quest to promote national literacy in Nigeria's major languages informed the decision to drop Arabic inscriptions from the denominations.

He also said that the choice of the three major local languages on the redesigned notes and coins was aimed at strengthening national unity.

The repackaged notes of N5, N10, N20 and N50 have their values translated into Hausa, Igbo, and Yoruba languages.

Also, the redesigned coins of N2, N1, and 50 kobo denominations which are more convenient to carry will be introduced through the commercial banks on the same day.

The decision by the CBN to remove the Arabic inscription, which was conspicuous on the existing denominations, has attracted harsh comments from a section of Nigerian Moslems, who deemed the action an affront to the Islam.

But the CBN chief, who discountenanced the notion, said government's decision was not informed by any religious sentiment. The Federal Government, he added, has no disdain for the Arabic Language, in which the Holy Quran is written.

Soludo said: "It is not eliminating Arabic inscriptions; it is re-writing the Hausa language in a form that everybody will be able to read. What is written in Hausa can be read by every other Nigerian who is not Hausa.

"The Hausa inscription has not been scrapped. It is only that it has been written out, the Igbo one is also written out, the Yoruba one is equally written out. That is the only change and it is part of the promotion of national unity and national literacy in our various languages."

The CBN chief said the new notes, made of polymer, and coins would ease business transactions among Nigerians.

On the benefits of introducing the new coins to the economy, Soludo said: "Prices move in multiples of N5, now you could have a price of something for N57.50 kobo, N58.50 kobo and you get your balance back. But before, you could only have N67, N65. All Nigerians should go back to the use of coins."

He said that the change of the national currency 23 years after the last exercise was in line with international practice, which aims to check counterfeiting of the country's medium of exchange.

Though Soludo declined to reveal the cost of producing the fresh notes and coins, he noted that the measure would save the country at least 60 per cent of the cost of minting coins.

He added that the nation would enjoy a cost reduction of between 42 to 58 per cent in the amount spent on currency production.

[neozizo]

Very typical of this administration to provide explanations after implementation without due consultations with the primary recipients of its policies and reforms-the masses.
Personally i have no squabble with the replacement of the ajami inscriptions with the 3 main indigenous Nigerian languages....infact I think there is too much unnecessary complain about the whole issue.
I commend the CBN boss for taking time to pay visits to the important northern traditional rulers (emir of kano and sultan of sokoto) to explain FG's position on the matter albeit being an after-thought

[NewEte]

I read sometime last year when Soludo announced that Nigeria will soon adopt the western/American pricing system. For instance, in the US, items sold ion grocery stores or malls are usually labelled $2.99, $15.95, $21.99, etc. I believe similar pricing model obtains UK and other Western European nations. My understanding of this model is that it has a whole lot to do with taxation. In America for example, there is noescaping paying sales tax when anything is purchased. Even when services are rendered, there there are all kinds of taxes on one's invoice, so there is no escaping that. That is how counties really make money.  The create an enabling environment for commerce to flourish, and then the county, state, or Federal government sits back and collects taxes. So when consumer items are priced at $2.99 or thereabout, there is a tax purpose behind it.

Question is, since our ecnomy does not operate like this, what exactly is the purpose of this re-introduction of smaller currency denomination.

Here is what Soludo said "
On the benefits of introducing the new coins to the economy, "Prices move in multiples of N5, now you could have a price of something for N57.50 kobo, N58.50 kobo and you get your balance back. But before, you could only have N67, N65. All Nigerians should go back to the use of coins."

Ok, so what can one puchase in Nigeria for .50 kobo?  I fail to see the benefit he claims exist here. Nigeria is unfortunately not a society where prices of consumer items or any other item for that matter is on the decline. If prices were constantly falling as a result of responsible fiscal policies or a rapidly growing economy which in turn pushes prices down, it would be understandable. In this case, I simply do not see the benefits.

In any case, concerning the removal of the Arabic inscription from the Nigerian currency, I am curious as to how and when Arabic inscription became enshrined on Nigeria's currency. What was the purpose behind it? Nigeria to my knowledge has never been an Arab nation, and English has always been the official language. But that aside, why put Hausa/Igbo/Yoruba inscriptions on the currencies but fail to include inscriptions of all other ethnic groups? In my view, this is totally ridiculous. Why not just leave all inscriptions on the currency in ENGLISH? Or if this is unacceptable, then put it is Pidgeon English which is widely spoken in Nigeria.

[Dan-Borno]

....then put it is Pidgeon English which is widely spoken in Nigeria.

Who told you or what is your source that English or Pidgeon English is widely spoken in Nigeria?

[neozizo]

I read sometime last year when Soludo announced that Nigeria will soon adopt the western/American pricing system.

All his other policies are drived from the west-he believe just cos the west are doing it we have to do it.

In any case, concerning the removal of the Arabic inscription from the Nigerian currency, I am curious as to how and when Arabic inscription became enshrined on Nigeria's currency. What was the purpose behind it? Nigeria to my knowledge has never been an Arab nation, and English has always been the official language. But that aside, why put Hausa/Igbo/Yoruba inscriptions on the currencies but fail to include inscriptions of all other ethnic groups? In my view, this is totally ridiculous. Why not just leave all inscriptions on the currency in ENGLISH? Or if this is unacceptable, then put it is Pidgeon English which is widely spoken in Nigeria.

The 'arabic'insciptions are actually read as hausa words for the repective denomonation of money they are found.
Arabic leters were or rather are still used in northern Nigeria for reading and and writting in hausa(this system is called ajami and had been in use years before english was spoken in N nigeria)just as you might use the leters of the alphabet to write in Igbo,Yoruba etc.
If CBN was going to write the denominations of money in the 3 main nigerian languages they mightas well  have left the arabic inscription and added the yoruba and igbo using the english alphabets.
The contentious ajami apart,i think the design ofnew notes are very good and will help with the problem of abuse of the Naira.

[gogannaka]

They removed the Ajami and loaded it with free masonic symbols..LOL.
thats the latest rumours in town.I've not seen the new notes to confirm.
LOL conspiracies

[Dan-Borno]

Here is a very good piece written by one of our brother.

http://amanaonline.com/Articles/art_3229.html

[NewEte]

Dan Borno, I disagree that this is good piece. I read the piece and the writter made absolutely no sense besides expressing utter disappointment over the soludo's decision to drop the Arabic inscription on the currency. All this writer did was bash the Professor and nothing more. He made no sensible case as to why the Professor's decision was wrong. This is just an angry piece by a angry man, and I have responded to the writer accordingly, and I don't think he'll be too flattered.

This writer again attempts to link issues with 'Arabic Christians' which he claimed are a significant population. Ridiculous! Even if true (false) what has that got to do with Arabic inscription on Nigerian currency? I do not totally agree with most of Soludo's experiments, especially with his consumer pricing standards, which I think is pointless, but in regards to the removal of religious or foreign language inscription on our currency, I think he is right on the money on that. I don't want to see Arabic, Jewish, Roman, Hindu, or Buddhist inscription on our currency, Period!