positives.

1. the new measures could restore confidence in the local currency as the bulk of naira notes stalked by politicians, criminals and other illegal operators would be returned to the banking system helping the cbn to monitor the currency in the economy

2. currently Nigeria is having challenges with terrorist and banditry across the country. with money being paid to kidnappers as ransom running in billions of naira. it is expected that the ransom money is yet to find its way into the banking system. when this policy is implemented, the money would be brought out to be exchanged with the newly designed notes, and this could lead to crime detection and prosecution of many.

3. it is also expected that with the new notes, most tattered naira note currency pushed into the system would be eliminated while counterfeit would be refrained for a couple of years.


NEGATIVE EFFECT.

1. THE COUNTRY WILL SURELY BE UPSET BY THE CHANGE IN THE CURRENCY AS MANY MERCHANT AND PETTY TRADERS WOULD START REJECTING THE OLD NOTES AHEAD OF ITS IMPLEMENTATION

2. The cost of food and other items will shoot up as the naira notes for transaction will become scare while many people may go hungry because they could not get new naira to make necessary purchase

3. Armed robbery would escalate as they will be targeting bullion vans which will be transporting the new currency

4. the banking hall will be jam packed with people scrambling to exchange their old currency for new notes putting pressure on the lean capacity of the banks to process currency


you could add yours

Nice observations I must acknowledge OP.All the positives are all in order but concern is that the same cycle will continue once the new currency kicks in.

So Nigeria needs personal and institutional reforms. There must be a mass referendum as far the nationhood of this entity is concerned.If we are yet to split, then there must be a referendum for the NASS to legislate the death penalty for indicted corruption

One negative is that people may go crypto hence affecting the strength of the naira.Meanwhile, corruption must be fought more proactively. No any useless plea bargain or delays in judicial prosecution of corrupt cases.

Racoon:
Nice observations I must acknowledge OP.

thanks boss. but that's what's gonna happen

5) People will simply store their monies in dollars or crypto, driving up exchange rate of $

A very nice analysis