The effects of Naira redesign
By Guardian Exclusive
23 November 2022 | 5:04 pm
The CBN governor, Godwin Emefiele, said the decision was prompted by concerns with the management of the current series of banknotes, the increasing risk of naira counterfeiting as well as the persistent large-scale hoarding of the naira which has resulted in a worrisome situation where over 80 percent of the currency in circulation is outside the banking system.
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