In an attempt to reduce the volume of cash baggage and security exposure in cash transactions, the Central Bank of Nigeria may be contemplating the introduction of new currency denominations of N2,000 and N5,000.
The bank has also made plans to convert N5, N10, N20 and N50 into coins which are all presently notes.
Same old recycling business
ReplyDeleteDoes CBN know the meaning of Inflation. Too much money in circulation
ReplyDeleteThieves will have more money to steal. At least if a man can put 5000 bundle (500K) in his pocket which is like 100,000, it will be very easy for thieves to snatch.
ReplyDeleteN5000? Who will have change? Na to dey always comeback for change be that now. Seriously it makes no sense
ReplyDeleteHe wants his signature to appear in the Nigeria currency especially the higher denominations I guess.
ReplyDeleteGod forbid bad thing
ReplyDeleteWhy print higher denomination notes when we are trying o go cash-lite? What is the sense in what Mr. Sanusi is trying to do?
ReplyDeleteNa so so experiment since he was made the CBN governor. Who will save us from this Alhaji?
I am not good at economics but I do remember reading a while back that the higher the currency of a country, the lower the worth of that currency...what does this mean for naija now. 5000 naira note??? ridiculous
ReplyDeleteAre you sure this mans brain is intact? Because I really doubt it. Even a first year economics student knows this is the most stupid idea ever!!
ReplyDeleteOde ni man yen sha! He's a thief......every cbn gov now wants to steal money with all these rubbish introductions. Smh! These higher denominations will make it very easy for our criminal politicians to loot public funds.
ReplyDeleteI thought he was angling for a cashless society, now this. What's SLS up to?
ReplyDeletethis is the solution, he is just tryin to increase inflation. Dis shld just resign, if he has fallen short of idea(s).rubbishhhhhh
ReplyDeleteLike the rest of them, he's taking Nigerians for a ride that will end up nowhere.
ReplyDeletehmmmmm thanks anon 14:33, same thut that crossed my mynd.
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ReplyDeleteGod pls, hope this doesn't go. Other countries are removing zeros to equate to dollar and we are adding. Once these monies turn to coins they will stop being spent and N100 will be the new N10. We need help oooo. @Okonjo are U there?
ReplyDeletethey need to redominate the currency. This mess is getting out of hand
ReplyDeleteThey are taking Nigeria into the doldrums.What a government.When Ghana devalued its money we are doing opposite.I guess Obama was right about Ghana.In Ghana you can d so much with a 100 cedes because it was 1000 cedes devalued to a 100 cedes just what Soludo wanted to do to our naira but our thieving politricians did not allow the initiative see the light of day.I weep for this nation.-Biodun
ReplyDeletemore corruption
ReplyDeletethis man has nothing to offer Nigerians all he is doing is for his selfish interest they never concern about our insecured state*BOKO HARAM* all they are after is their pocket our leaders are greedy beings
ReplyDeletethey sha wan turn this economy to zimbabwe and eventually somalia
ReplyDeletekai a lot of clueless guys n power, God save my mother land
just because its easier to stack n ghana must go so u must invite hype inflation? God wl sure rescue us
Is it that we don't know what our priorities are as a country? Sanusi, there is absolutely no need for this.
ReplyDeleteLadun, this blog is dulling BIG time what exactly is going on here, are you study for some exams or just bored being a blogger?
So this means that Naira is completely going to lose its worth?
ReplyDeleteErm I thought we were going cashless
ReplyDeleteDoes it make any sense at all to introduce new currency
I doubt if this is true Jor!
hmmmmmm so dey can steal more more money noni ........dis pple dont even considered d poor onez....
ReplyDelete