It’s not up to $100 – Speed Darlington expresses sadness after withdrawing bundles of naira (Video)

US-based Nigerian musician, Darlington Okoye aka Speed Darlington has expressed utmost disappointment over the depreciating value of the naira.

He went on a rant during an Instagram live session and showed bundles of naira notes which he had just withdrawn. The rapper claimed that the entire stack was not up to 100 dollars.

Speed Darlington said naira is a disappointing currency because it has no value whatsoever. He went on to tear a N100 note which was among the bundles and stepped on it.

The internet sensation also picked up some bundles of N200 notes and he was very furious because it amounts to $56, which what he uses to pay phone bill in the United States when converted to dollars.

He noted how people might see him with the heaps of cash and think he would be a good victim to rob without knowing that the money he’s with is not up to the equivalent of 50 dollars.

Watch the video:

iampeace_c; Yo! Y’all may get mad at this dude right here as much as you want, his making lots of point. Sad for my our beloved country! That’s the reason why lots off people are leaving the country and becoming citizens in another country. May it not become a ghost town. Amen!

santosp001; Speedy is making a point .. like him or not .. 😂😂😂😂$50 is equivalent to N43k .. Shiii, that’s crazy

walelordson; Hope say u don commot for Nigeria bcos Twitter police is coming for u 😂

essy_55; He said naria is a very very disappointing currency 😂😂😂😂😂

meekhearted150; People de change naira to other currency before spending de try this period 👏

black_diamondbld; Contradicting himself, your phone bill but you could feed on it for a week here in Nigeria 🤷🏼‍♂️ but can’t over there.. A liter of fuel in the US is a thousand plus when converted.. if it’s so nice why not go back.. people basically live from hand to mouth even while making $2k a month.

Meanwhile, in another news…

Nigerian Security Printing and Minting, (NSPM), explained that the newly designed naira notes stain white surfaces as part of a security feature.

Managing Director of NSPM, Ahmed Halilu made this known in a statement while highlighting some features of the new N200, N500 and N1,000 notes.

Halilu said; “The attention of the Nigerian Security Printing and Minting Plc has been drawn to various clips, skits, concerns and comments on various platforms regarding the quality of the redesigned banknotes that were recently unveiled and issued by the Central Bank of Nigeria.

“As the nation’s foremost security printing and minting company saddled with the responsibility of producing the country’s currency (naira), we find it expedient to address the salient issues and further enlighten Nigerians on the features of the currency and, most importantly, the misconception about the quality of the new naira notes.

“The NSPM Plc has been meeting the currency needs of Nigeria with the support of the Central Bank of Nigeria since 2014. Indeed, Nigeria has achieved zero importation of currency, developed local capacity and, to an extent, conserved foreign exchange within this period.

“We want to inform all Nigerians that the new naira notes are of the same substrates and passed through the same printing processes and finishing procedures. It is, therefore, basically the same as the other notes in circulation. It also leaves traces of intaglio inks when rubbed on plain white surfaces. It is, however, important to note that new banknotes are generally light when issued, then become heavier in circulation on getting in contact with dirt and moisture.

“In addition, the second stage of currency printing (Intaglio) requires a heavy deposit of special inks with fairly large particles to give a tactile feeling of the portraits as well as other raised prints by way of design.”