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The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that little naira denominations specified arsenic N5, N10, N20, N50, and N100 notes are inactive ineligible tender successful Nigeria.
Cardoso disclosed this portion answering questions astatine the briefing pursuing the 306th Monetary Policy Committee, MPC gathering connected Tuesday.
He explained that the scarcity of little naira denominations successful circulation is owed to the forces of request and supply.
“They (lower naira denominations) are inactive ineligible tender. To the grade that the Central Bank has not said otherwise, delight presume they are ineligible tender.
“The question arsenic to wherefore we bash not person arsenic galore of them successful circulation arsenic whitethorn beryllium perceived is simply a question of request and supply, rather frankly,” helium said.
Recall that the apex bank’s MPC retained the involvement complaint astatine 26.50 percent for the 2nd consecutive meeting, against the backdrop of a 15.91 percent ostentation complaint recorded successful June.
CBN hasn’t said different – Cardoso connected validity of N50, N100, different little naira notes
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