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Started by Bimat, February 15, 2012, 02:05:09 PM
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Quote from: Figleaf on May 13, 2012, 01:47:57 PMIntroducing high value notes does not cause inflation.
Quote from: Bimat on August 24, 2012, 05:14:07 AMA new currency – N5,000 note – will go into circulation next year, the Central Bank of Nigeria (CBN) said yesterday.Three denominations - N5, N10 and N20 – are to become coins.The 12 currency structure of the naira will now be six coins and six bank notes.The coins are: N50k, N1, N2, N5, N10 and N20.
QuoteThe vanished lower denomination banknotes failed to adequately meet expected longevity, Sanusi said.
Quote from: Bimat on August 26, 2012, 04:19:15 PMI wonder if they actually need any coins, the highest denomination (20 Naira) is worth $0.13 or €0.10...Wikipedia says 45% of Nigerian population lives below poverty level and inflation is 11.9% (2011 est.). May be a good idea to get rid of coins completely?Aditya