CBN To introduce N2000 and N5000 Denomination?

According to Leadership newspaper, the Central Bank of Nigeria, in an attempt to reduce the volume of cash baggage and security exposure in cash transactions, is 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. Though no one at CBN has confirmed this, but reliable sources told the newspaper that it will happen, they just do not know when it would take effect or when it would be announced to the public.

N5k note? How will the poor feel?
Sent from my BlackBerry® smartphone provided by Airtel Nigeria.