NGN/USD: Nigeria Naira High-Value Banknotes to Be Replaced to Curb Hoarding

NGN/USD: Nigeria Naira High-Value Banknotes to Be Replaced to Curb Hoarding

Nigeria’s central bank said it’s move to replace high-value currency notes will help prevent hoarding and stymie illegal activity and kidnappings in Africa’s largest economy. The country’s banking regulator plans to issue redesigned 200-, 500- and 1,000-naira notes from mid-December, Central Bank Governor Godwin Emefiele said at a briefing in Abuja, the capital, on Wednesday. … Read more