relativelyirrelevant on Nostr: Devastating. “The CBN said it redesigned the higher denomination notes - 200, 500 ...
Devastating.
“The CBN said it redesigned the higher denomination notes - 200, 500 and 1,000 naira - to replace the dirty cash in circulation, tackle inflation, curb counterfeiting and promote a cashless society.
Nigerians were told last October about the change and were encouraged to deposit any cash savings in the bank.
But not enough of the new notes have been released in a country where cash is still widely used. An estimated 40% of the population do not have access to bank accounts.”
—BBC
“The CBN said it redesigned the higher denomination notes - 200, 500 and 1,000 naira - to replace the dirty cash in circulation, tackle inflation, curb counterfeiting and promote a cashless society.
Nigerians were told last October about the change and were encouraged to deposit any cash savings in the bank.
But not enough of the new notes have been released in a country where cash is still widely used. An estimated 40% of the population do not have access to bank accounts.”
—BBC