₦airaland Forum

It has been alleged that the Central Bank of Nigeria (CBN) will spend about N40.3billion to produce its new coins and Naira notes.
Out of the amount, N11.8billionwill be spent on the new N20, N10 and N5 coins.
“The bank is spending over N40billion on the production ofnew coins and notes.” a member of the board of the CBN disclosed
“The N40billion is the total sum for the production of the coins and the new notes” stated the CBN Board member,who does not want to identified statedthe board member added.
According to the source, the CBN, at its board meeting two months ago decided that most of the new notes and coins would be printed by the Nigerian Security Printing and Minting Company.
The meeting agreed that only the N5,000 note would be printed by a foreign firm whichhad “the technology and the capacity to handle the sensitive features in it.”
The CBN had on Thursday announced a comprehensive review of the country’s currency called Project Cure. The apex bank annonuced that it will be introducing the N5,000 note as the highest denomination by 2013, while N5, N10 and N20 notes will becoverted to coins.
The new coins will join the 50k, N1 and N2 coins already in existence but which Nigerians hardly use.
The source further revealed that some workers of the CBNwould be laid off during a forthcoming retrenchment exercise.
The CBN Board member who does not want to identified stated “consultants are already meeting with the various departments to selectfive to 10 percent of membersof staff to be laid off.”
“They are doing this in the pretext of normalising staff aggregated appraisal graph through the Head of Departments. The HODs are the ones who determine who to go in their directorates. They are doing it under the pretext that it would be used to categorise staff for productivity bonus payment.”
The CBN governor, Mr.LamidoSanusi, at the press conference, where he announced the new structure of the Naira, had declined to give the cost of printing the currency.
He said that the cost would beseen in the CBN’s balance sheet at the end of the year.
PUNCH

We live to make decisions and we make decisions to live. Life is all about decision making and making choices. Even though God gave us the liberty to make choices doesn't mean we can do what ever we want but do what we are suppose to do. I have come to understand that in live those who do what ever they want don't live long and are not always successful. But those who lived long and those who are successful are those who do what they are suppose to do. We have the choice to decise either to choose good or evil. No siting on the fence, no staying in between, the scripture say ''...if you are neither hot or cold i will spit you out'' so be wise and make the right decision today. Are you for good or evil? As for me i have made up my mind to follow Jesus.