IGBERETV REPORT

Godwin Emefiele, Governor of Central Bank of Nigeria has said that they've concluded plans to reduce the volume of higher denominations, N500 and N1000 in circulation to tame inflation.

Emefiele who claimed that high volume of higher denominations could be part of the factors fuelling inflation in the country, backed his claim up by pointing out that the highest denomination in the UK is £50 and the most spent currency in the country is £10.

He said;

“Rarely you find some people spend £20. Nobody sees £50. If you go around carrying £50 in the UK, they will begin to suspect you. Whereas, the reverse is what is happening in Nigeria. Nigerians want to carry N1,000 or N500.

“In fact, we’re beginning to see or think that increasing the high denomination bills is also part of what may even be fuelling inflation.

“So, over time, we will reduce the volume of N500 and N1000 in circulation.

“Let people carry N50 around. If you want to do high-value transactions, embrace online, embrace our agency programme, embrace our mobile banking programme. That is what you need. You want to conduct legal banking or financial services transactions, you have no business carrying N1,000.”

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Seun Lalasticlala Mynd44 nlfpmod

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Nice move��

Thunder fire any idiot asking Nigerians to be carrying N50 notes about...

Like what is wrong with this clowns who have no idea what fiscal monetary policy is...

You want to reserve 1000 and 500 denomination for the thieving politicians expect others to transact on 50 naira bill...

All their policies is just make things hard for ordinary Nigerians .

Na your business.

Good, make N200 highest denominator. This is what obtains in stable economies. If possible make N100 coin shikena.
Vote buyers will need trailers to buy 50 votes

SensetionalGoal:
Thunder fire any idiot asking Nigerians to be carrying N50 notes about...

Like what is wrong with this clowns who have no idea what fiscal monetary policy is...

You want to reserve 1000 and 500 denomination for the thieving politicians expect others to transact on 50 naira bill...

All their policies is just make things hard for ordinary Nigerians .

Why are you crying? Dont you have ATM card?

This is a good development. This will also discourage governors like Peter Obi from transporting 250 million naira in cash with their convoy.

Validated:


Why are you crying? Dont you have ATM card?

ATM despensing 200 notes and you want to withdraw 100k think about it..

This man is just Senseless

This will help