The mind-blowing consequences of CBN’s new naira

 by Ubah Jeremiah Ifeanyi The Central Bank of Nigeria (CBN) recently gave Nigerians less than 100 days to ‘dispose’ of the old banknotes in their possession following the announcement of the redesign of the N1000, N500, and N200 naira notes.Although the monetary policy aims to reduce the amount of money outside of the banking system and rein in inflation, the immediate aftermath has left the naira in more trouble than before.Some of the consequences we have noticed since the announcement include massive depreciation of the naira and higher imported inflation, etc.Massive…

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