After reading through these earlier Nairaland threads:
Banks Told To Write Down Serial Number Of New Naira Notes During Withdrawal.

Fake New ₦‎1000 Notes In Circulation, Few Days After Release.


I started thinking about a lot of things.

And also, I came to realise that “Strict Restriction of the flow of physical-cash” is highly detrimental to the economy.

Thus, some better ideas of how control and monitor the flow of the physical-cash within the economy - using technological methods - came into me..

And here below are the ideas.

For Better Security Of The Newly Released Naira Notes, And For Easy Tracking Of The Movements And The Circulation Of The New Naira Notes..,,
The CBN should introduce some “hidden uniqe machine-readable codes” on the individual notes, which also distinguishes these notes individually, so that, some specially-designed electronically-interconnected money-counting machines can always quickly read these hidden codes on the individual notes as they are being counted by these specially-made money-counting machines..

And thus, a weekly or a monthly complex-analyses that would conducted by the CBN on the all data of the codes of the Naira-notes that were counted by all these special-machines all over the country, can tell a-lot about the circulation-history of the different naira-notes,, and also, it can tell which Naira-notes are fake notes, and also, which Naira-notes that were not issued by the CBN.



This idea of mine seems to be very difficult, but then, it is not impossible.
It would definitely control the Misuse of the Naira-notes.

Furthering, restricting the flow of money is not the best method for controlling the Misuse of money. Restrictions would ultimately reduce the volume of trade, especially the petty-trade businsesses which usually happen in large quantities on daily basis, and which still requires huge amount of physical-cash to be in circulation.

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All we care for is a better country which benefits everybody, AND NOT JUST A FEW PERSONS.




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Lalasticlala
Seun

Nlfpmod

Mynd44