It’s a good thing though, but my concern here is with this
N2,000, N5,000 notes, will there be easy availability of change ?like when you
go to the market with N5,000 note to buy N1,200 tomatoes, will the seller have
enough change in return from the N5,000 you gave? Supermarkets have this
problem of returning an individual’s change….most times what you hear is “madam
abeg no vex I don’t have N100 to complete the change, its short of X amount of naira….how much more the local markets?
In an attempt to reduce the volume of cash baggage and
security exposure in cash transactions, the Central Bank of Nigeria may be
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. The policy would make it easier to move large
quantities of cash around with little exposure to risk, but financial critics
have suggested that it would be a contradiction to the CBN policy to migrate to
a cashless economy.
7 comments:
I dont think they shld go as far as making d so called N2,000,N5,000...how many people will like to carry coins around
I quite agree,when the coins were introduces most people frowned at it, too heavy to carry, all ds things can work abroad bc they are disciplined,where abroad have entered a shop and they dont u complete change?in Nigeria its opposite,when u complain they tell that they went in d morni to d bank to collect smaller denomination but it all finished..what a country
For all we know sb in d govt has been given d contract,who are they consulting from on all d matters self bf making ds decisions, no sample to see if it will actually work, or it will be like abadoned project meanwhile billions naira 'd have gone into d project
Abeg d idea is gd, no armed robbery stealing money from individuals....i had a nasty experience on my way to Enugu 2yrs ago i cant 4get such experience,d only money i hadN40,000 i was given by my uncle to take home 4 my sick mother,was taken from me when d bus i took from Anambra to Enugu was attacked by armed robbers
Cashless Nigeria here we come
Who cares!
Nigerians shld learn to embrace new changes...must we complain abt everything?, d govt is trying in some areas
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