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Monday, May 14, 2012

CBN To Introduce N2000 And N5000 Denomination


According to Leadership newspaper, the
Central Bank of Nigeria, in an attempt to
reduce the volume of cash baggage and
security exposure in cash transactions,
is 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.
Though no one at CBN has confirmed
this, but reliable sources told the
newspaper that it will happen, they just
do not know when it would take effect
or when it would be announced to the
public.

1 comment:

  1. rubbish!!!! easy way for govt to steal n inflation to creep in................. we need pple with Wisdom to rule us!!!

    ReplyDelete