Stella Dimoko Korkus.com: CBN Disburses Smaller Naira Notes To Traders To Improve Circulation

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Wednesday, February 28, 2018

CBN Disburses Smaller Naira Notes To Traders To Improve Circulation

The Central Bank of Nigeria (CBN) has began the disbursement of smaller naira notes to traders in order to improve circulation of N5, N10, N20, and N50 in the market. 






The acting Director, Currency Operations Department, CBN Mrs Priscilia Eleje said this at a publicity campaign on “Disbursement of Lower Denominations of the Naira’’ in Wuse Market, Abuja on Tuesday.


According to her, the Federal Capital Territory will be used as the pilot stage of the new campaign and if successful, will be replicated nationwide. Eleje said the new strategy would ensure that traders desist from hiking prices of goods, simply to avoid looking for “change.’’ The notes being disbursed will be mints.


"This money is not meant for you to keep in your house or to go and spray at weddings or sell. We have our operatives everywhere and whoever is caught selling these notes will be prosecuted. These notes are meant to be used for daily transactions so that when a customer comes to the market, you won’t tell him or her that you don’t have change."


However, Eleje said that the money was not free, adding that rather, the CBN through the various associations in the market would exchange lower denominations for larger ones.

NAN

*OMG are you kidding me?N5?????????????
What can N5 buy in Nigeria now ?

19 comments:

  1. No biscuit 5naira again, no litre water 5naira too.

    ReplyDelete
    Replies
    1. Even the ten naira biscuits taste like chaff in the mouth. Some are so thin that you it can't satisfy a two year old child.

      Please while at it CBN please recall all the 100 naira currency and circulate fresh ones eeeeeh. All of them are so dirty that you wonder if it's still money or carton.

      Nigeria my country

      Delete
    2. 5 Naira is still a legal tender in Nigeria. If you have a million of it, that's 5 million naira. It can buy something.
      During my NYSC in the North, I took a match box from a mallam's shop and gave him 5 naira, he handed over 3 naira coins to me as "change"!

      Delete
    3. Beloved that N100 note is so bad!! They should stop minting it haba!!

      Delete
  2. 5 naira can buy nothing expect you combine it ..meanwhile 100naira should have been included..the ones in circulation as we speak 98% of them have been involved in ghastly motor accident.

    ReplyDelete
    Replies
    1. Lol na molue jam the N100 abi na uber???😂😂😂

      Delete
    2. I totally agree with you...the 100naira is so dirty and you will see 'plaster' all over it obviously injury it sustained during the accident.

      Delete
    3. So true the N100 note are worn out

      They ought do better
      May be they have not touched them . . .

      Delete
    4. Baby blu is molue for sure o! Uber will still be neat one kind, them notes are terrible

      Delete
  3. So this is our problem nau? And they the big men and women are to spend and siphon the high denominations and dollars. Mchhewwwsss.

    ReplyDelete
  4. Stella it will buy sweets and chewing gum lol! At least if it's in circulation, it will find something to buy. Good move.
    They should not forget to print and circulate 100 Naira note too, the ones we have now is an eyesore.
    Madam Director please take note ma. Thank you!

    ReplyDelete
  5. 5 naira will buy Baba blue sweet depending on the area.

    ReplyDelete
    Replies
    1. Sweet and gum in my area is 3 for N20

      Delete
  6. N5 that cannot buy "pure water", please is that one among currency?

    WTF

    ReplyDelete
  7. Even after circulating this lower notes, mama Amara will never have change! She will tell you to take onion or seasoning cube as if i dont have in my house. I've stopped buying things from her cos i cant keep taking onion and seasoning cubes biko

    ReplyDelete
    Replies
    1. Mama amara be using Brain to sell her onions 😄😄

      Delete
  8. CBN circulate 100 nairas new ones are badly needed

    ReplyDelete
  9. Abeg they should circulate new #100 notes. The ones in circulation right now are so dirty and old. I got one yesterday from a cabman and it was dated 2013..

    ReplyDelete
  10. I don't know why they like deceiving themselves. There are no 100 naira notes in circulation don't they know that

    ReplyDelete

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