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,
She said the campaign was targeted at the informal sector, especially traders in markets with the aim of increasing the circulation of the smaller units of the naira to make doing business easier.
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.’’
According to…
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