Since 2012 The federal government formally endorsed the introduction of the 5,000 naira note introduction despite the criticism that has greeted its introduction.
CBN Governor, Godwin Emefiele, had at a press briefing Wednesday announced that the apex bank had obtained the approval of President Muhammadu Buhari to resign and issue new N200, N500 and N1000 notes that will come into circulation by the 15th of December, 2022.
While announcing the naira notes redesigns, Emefiele lamented that over 80 percent of currency in circulation was outside the vaults of commercial banks even as the issue “takes money supply out of the hands of the central bank”.
However, with the development, the CBN can circulate the new notes, controlling the level of liquidity in the system for monetary stability.
Ok Now They want to implement New Notes
But While at It They SHOULD INTRODUCE 5,000 NAIRTA NOTE OR WHAT DO YOU THINK ? SEE DESIGNS BELOW
In a meeting of the Economic Managament Team chaired by President Goodluck Jonathan, the CBN governor, Sanusi Lamido gave a detailed explanation of the programme.
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The team also dispelled the fear that the introduction of the note will lead to high rate of inflation, saying that there is no link between inflation and currency denomination, adding that rather, the introduction of the higher currency will help shore up the value of naira as most people who store money in hard currency would now embrace the high denomination.
This is a Meat Map of Nigeria 14 Pieces Cost is 1500Naira
Trivia
A bottle of Beer Sells For 400naira Pump Price ! Most Nigerian Men Drink at least two .
a 1 inch square piece of fried meat is at least 200 Naira
A plate of peppersoup with Not more than 3 Pieces of Meat is now at Least 500Naira
A “Reasonable” plate of food is 500Naira
The basic Cost of A plate OF Food in Hotels is now Between 4000 Naira upwards
So Carrying 1 Thousand Naira These Days is a Joke !
- Akara A Bean Dsih This is 200naira 3months Ago
- Todays This is 500Naira !
A plate of Pounded Yam With 3Large Pieces of Meat This is At least 1000Naira
What is the highest note in Nigeria?
These are 100 Naira(1999), 200 Naira note (2000). 500 Naira was released in April, 2001 while the 1000 Naira note was released in October 2005. On February 28th 2007, as part of the economic reforms, N50, N20, N10 and N5 banknotes and N1 and 50K coins, were reissued in new designs.
What is the highest naira bill?
The Central Bank of Nigeria has the sole authority to issue banknotes and coins. Coin denominations range from 1/2 kobo to 1 naira. Banknotes are denominated in values from 5 to 500 naira
