CBN SET TO INTRODUCE NEW NOTES

Sanusi and Alade of the Central Bank of Nigeri

Central Bank of Nigeria, CBN has announced the introduction of a new currency series under which the existing denominations of N50, N100, N200, N500 and the N1,000 notes will be redesigned with added security features.

CBN Governor, Mallam Sanusi Lamido Sanusi, told journalists in Abuja at a media briefing briefing that N5,000 note would also be introduced, while the lowest denominations of N5, N10 and N20 are to be coined.

However the redesigning and introduction of the Naira notes will take effect next year 2013.

Masquerade234 is wondering why the policy somersault, because the CBN earlier introduced the cashless society policy in Lagos with other cities going to follow suits next year and now this, what is really happening.