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Saturday, August 11, 2012

Central Bank of Nigeria To Introduce N5000, N2000 Notes; N50, N20, N10 Coins


Sanusi Lamido Sanusi, Governor of the Central Bank of Nigeria
N5000 note, WOW!!!. That seems to be a big cash in just one note. Anyways, highest denomination of US currency is $100 note and that's about 3 times the N5000 note.
The top management of the CBN have decided to introduce currency denominations of N2,000 and N5,000. This is being done in the best interest of the economy CBN claims. The CBN claimed that this would be a resolution in an attempt to reduce the volume of cash baggage and security exposure in cash transactions.
It's like the Central Bank of Nigeria may just be contemplating the introduction of new currency denominations of N2,000 and N5,000. With which CBN has also made plans to convert N5, N10, N20 and N50 into coins which are all presently notes. Do you think this is a way to move the economy to a better condition and also help the Nation with all corrupt crisis and terrorist act as a whole.
Leadership newspaper

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