Why CBN is changing Naira notes

CBN’s Godwin Emefiele surprised Nigerians earlier today when he announced plans to introduce new designs of the N200, N500, and N1,000 notes by December 15; a mere 50 days from today.  

The policy move is advertised as a means of bringing currency from outside the banking system into the banking system, thereby making monetary policy more effective in combating inflation. 

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