Category: Business

Experts have recommended that the Central Bank of Nigeria (CBN) consider issuing new banknotes in denominations of 10,000 and 20,000 Naira to promote cash transactions and restore the Naira’s everyday utility. This recommendation stems from an economic analysis report published by a research firm on March 30, 2025. The report notes that the Naira’s continued depreciation has rendered the current highest denomination, the 1,000 Naira banknote, virtually unusable in daily business transactions. Analysts say that the 1,000 Naira banknote was worth approximately US$7 when it was issued in 2005, but is now worth less than US$1. This represents a real value loss of over 94%. Economists Push Some argue that issuing higher denomination banknotes will not exacerbate inflation because inflation is dynamically determined by production, supply, and demand, not by the face value of banknotes. Introduce This point is also mentioned in the report. Notes The report further notes that the informal economy, particularly vendors and rural residents, will be most affected, as they are often forced to carry large amounts of cash for daily shopping. Naira Weakens See also: Economic The Central Bank of Nigeria (CBN) Central Bank also noted that the CBN faces increasing costs in the production, distribution, and security of low-denomination banknotes, stating that this situation is financially unsustainable. Nigeria Therefore, it is recommended that the CBN issue banknotes in denominations of 10,000 and 20,000 Naira, or undertake structured monetary reforms to modernize the monetary system. The Analysts emphasize that this proposal should not be confused with printing money, but rather understood as…adjustments to adapt to the current economic situation and strengthen public finances. Confidence in the Naira Thursday is October: Quartus Economics

  • October 30, 2025
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Reps Approve Tinubu’s $2.3bn Loan Request

  • October 29, 2025
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The House of Representatives has permitted President Bola Tinubu’s request to borrow $2.347 billion from the worldwide capital market to part-finance Nigeria’s 2025 funds deficit […]