There has been lots of controversies over the proposed currency restructuring moves by the Central Bank of Nigeria(CBN). The proposed introduction of new coins does not go down well with the people because apart from the fact that many people do not like using coins ( I do not like coins either), many experienced economists are of the opinion that minting coins is more expensive than notes and the metal value is often more than the face value.
The proposed 5,000 naira note is believed will only cause inflation and more hardship. This has even caused a serious blasting of the former president of Nigeria, Olusegun Obasanjo by the CBN Governor. Add to that the rumour that the CBN will use 40billion to print the new currencies. The CBN has decided to clear the air with the press statement below. Read, download and share
really you are doing very good job to help and inform the people. i really like your blog. thanks
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