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Monday, May 14, 2012

CBN To introduce N2000 and N5000 denomination?

It was reported by Leadership newspaper that, 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.
My people, N5K note? no be small thing, what's your view about this?

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