Today I went to the bank to carry out some transactions (no ask me wetin) and my eye went straight to the counter watching the cashier arrange bundles of #1000. I began wondering, the banks collect from the public and send to the CBN.
Each day millions of naira are collected and sent to the mother bank. The million dollar questions are:
1) what does the CBN do with the money and how to they store/manage it?
2) The CBN collects revenues and those generated, do the CBN and ministry of finance use both the revenues and bank deposit to run the economy?

Pls if you are an economist or have any idea on how the financial cycle work, it will be importance if you share it..... Thanks

cc:naijacutee, dominique, FOD, puskin