The Nigerian Economy and Her New Polymer Naira Notes

State of the Nigerian Nation:

 Economic State:

   The Nigerian Economy and Her New Polymer Naira Notes

PLATFORMNIGERIA

The Central Bank of Nigeria last week rolled out a new form an all embracing lower denomination Naira Note which is in the form of POLYMER [Polymer banknotes were developed by the Reserve Bank of Australia (RBA)] same as the polymer Twenty Naira note brought earlier during the Prof. Chukwuma Soludo reign as Governor of the Nigerian Apex Bank.

The new Naira notes it’s said would increase the flow of cash as well as increase the durability of the note in terms of its getting old easily.

Durability yes is one very important aspect of any country’s currency after all if our currency is not durable of what long term use is it to its end user.

Beautiful they look!! One must confess to that fact; the beauty of a Currency. It shows Nigeria is going to go places. True the new Central Bank Governor is aiming high for the Nigerian Banking and Currency industries! With a lot of shake ups going on in these industries, I think it’s a good omen for our Great Country Nigeria.

But come to think of it! Is it new polymer notes Nigerians need? Looking at the economic melt down the world is passing through right now.

Do the new polymer notes have any improved value when compared with currency of other nations? Take Ghana, U S A, GREAT BRITAIN and others to numerous to mention. Take Ghanaian cedi as an example. In yester years Ghanaians use to come over to Nigeria in search of jobs and good paying jobs at that. They were ready to do any job just to get a Naira note in their pocket just to send home for family welfare. But what’s the situation now; a Ghanaian cedi goes for ₦101 Nigerian Naira. And we are still bringing out New NOTES… WELL they may be having reasons and good ones at that for bringing out new Polymer Notes when the value of our Naira is going down!!

Well your guess is as good as that of many Nigerians.

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PLATFORMNIGERIA