Henry Boyo
Households have become severely traumatised nationwide, by the escalating prices of goods and services, particularly in the last six months or so. The uneasy feeling that one’s pocket has been picked has probably become common after every visit to the market, as the smallest available plastic sachet may be all that is needed to pack your N10,000 purchase(s) from the ubiquitous street corner medicine stores in our cities.
In retrospect, in 1977, the highest naira denomination was the N20 note, popularly hailed as “Muri” (because of its embossment with the effigy of General Murtala Muhammed), exchanged for the princely sum of almost $30 when it was first issued. Unfortunately, after the serial devaluations which followed the IMF inspired Structural Adjustment Programme, the N1,000 note, by 2005, became the highest denomination in our currency, and exchanged for just…
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