The CBN is contemplating the introduction of new currency denominations of N2,000 and N5,000 notes and N5, N10, N20 and N50 coins.
"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."
"All the smaller denominations from the N50 downwards are also to be converted into coins."
A financial expert and executive chairman of the Society for Analytical Economics, Nigeria, Dr. Godwin Owoh, has said that if the policy is carried out, it would not only lead to inflation but would increase the ability to carry out cash transactions.
He said the activities of the CBN were becoming more commercial in nature, suggesting that this was more of a fiscal policy than a monetary one and that it should be decided by either the minster of finance or the president.
We were told of the Cashless economy last year, but it is now Cash all the way..........Policy gone wild!
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Posted: at 13-05-2012 07:09 PM (11 years ago) | Addicted Hero
when did they introduced the new N5, N10, N20 & N50 notes that they want to change to coins? I thnk they told us they spent millions/billions in producing that? or he want to chop his own-NATIONAL CAKE! why can't labour union demonstrate against this Boko Haram people in disguise-Sanusi
Posted: at 13-05-2012 07:48 PM (11 years ago) | Upcoming
Kingoflion at 13-05-2012 08:16 PM (11 years ago) (m)
OH MY GOD, ANY TIME I COME ACCROSS THIS NAME SANUSI I FEEL SO BAD BECAUSE THIS MAN IS A REALL BIG FOOL AND A DISAPPOINTMENT TO NIGERIA AS A NATION. THIS IDIOT WANT TO FINISH NIGERIA CURRENCY AND MAKE IT LIKE GHANA CIDIES. I FEEL SO BAD BECAUSE OUR GOVERNMENT IS SO DISTABLISED THAT THEY DO NOT VALUE THE REAL PEOPLE WHEN THEY ARE IN POWER. WHAT HAPPENED TO CHARLES SOLUDO WHO GAVE NIGERIA BANKS WITHOUT FAIL WHEN HE WAS IN CORRIDOR OF POWER?. WHY MUST THIS MAN CALLED SANUSI BRAKE OUR CURRENCY TO ZERO CLASS?. WELL ONLY GOD WILL HELP US. BUT I MUST SAY IT THAT BREAKING 10,20 QND 50 NQIRA TO COINS IS NOT REALLY GOOD FOR THE NAIRA CURRENCY.IT IS ONLY DEVALUATING THE CURRENCY.WHAT A phyuk. I THINK SANUSI IS NOT REALLY AN EDUCATED OR ECONOMIST IN REALILY. phyuk YOU MAN, I HATE YOUR ACTIONS IN MY DEAR COUNTRY.
Posted: at 13-05-2012 08:16 PM (11 years ago) | Upcoming
Solidstonez at 13-05-2012 09:30 PM (11 years ago) (f)
Quote from: ROYAlPRINCE77 on 13-05-2012 08:21 PM
I don't think Nigeria is moving in a right direction concerning this news...........our currency will not have value any longer like before,i don't really know what is wrong with this aboki called sanusi.He maybe one of them and that is the only way he wants to use and fight our nation.who knows but lets keep our finger cross
wewll said
I AM WHO I AM, IF YOU DON'T LIKE IT, YOU CAN BLOODY DO THE OTHER THING AND FCUK ALL HATERZ
Posted: at 13-05-2012 09:30 PM (11 years ago) | Addicted Hero
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