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Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 - Business (5) - Nairaland

Nairaland ForumNairaland GeneralBusinessExperts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 (12501 Views)

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Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Olat4421: 2:02pm On Oct 30, 2025
Expert indeed, expert in thief
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Kayberg: 2:03pm On Oct 30, 2025
Zocalite:
But there's inflation already

Why are you emphasizing " more"

10k might be too much, for me by now nigeria suppose don get 5k note
From my view, things will get more expensive.
Nigeria is kind of wired differently from the rest of the world.
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by inyass2580(m): 2:04pm On Oct 30, 2025
Na musicians dis one go pay most

10k bundle in 100 places na big money

And for a common man to get hold of dt 10k in 3 pieces dts 30k wil come with lot of stress and all sort of dirty and nard job…. 1000 will now be 50 for buscuit.. so imagine buyin a biscuit for 500 because as 5000 or 10000 dn dy
100, 200 will be useless

Jst 500 , 1000 will still be in circulation…. Dis is a wrong move because Nigeria is indeed a Zoo
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Gboss247(m): 2:08pm On Oct 30, 2025
ogododo:
https://x.com/instablog9ja/status/1983826418451570727?t=labuQCh8QBzW7eh[/quote]The headline should be "Enemies of Nigeria" not experts. More higher denomination means naira becomes more valueless, Nigerians get poorer with insecurity rates skyrocketing.
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Gab1976(m): 2:11pm On Oct 30, 2025
MY CANDID OPINION IS THAT SUCH IS NOT NEEDED AT THIS TIME THAT NIGERIA IS CRIPPLING IN ECONOMY
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Gboss247(m): 2:12pm On Oct 30, 2025
fineboynl:
It’s long overdue. I would suggest 5000 and 10000 for a start. After a years or 2 we can add 20000.

More of 5k then fewer 10k. and make 20k very scares to see.

When obj introduce 1000 the value today would be like 30-40k. People shouted then. Because it almost amounts to 10$ at the time. Considering dollars also devalued too.

If you give anyone 1k then they will look it in the sun or through touch light just to tell you of it value as at then. But not anymore today.

The only alternative is to redenominate the naira by removing 2 zero or bring higher denomination. If you withdrew 100k in the market. You can’t even use it to buy anything tangible which shouldn’t be.

In fact it should have been done last year.

Higher denomination doesn’t translate to more money in circulation. It only means money in circulation is compressed and scares to see around.

In response to people saying it will cause inflation like zimbabwe
it’s not what caused the inflation there. They face inflation by western sanctions. Same sanctions with Venezuela. Ghana face inflation too and they add 10k notes then. Inflation is why they print higher denomination because it pointless to print valueless currency like we are doing today. They print higher denomination to counter the inflation. Not the higher denomination that cause the inflation. If 20 billion is in circulation and you mob it up with higher denomination with the same 20billion it won’t cause inflation. Alternative is to remove some zero from the currency.

Obj add the option to remove some zero but the senate rejected it. So they introduced higher denomination.
Your economics teacher in secondary school will be in severe pains reading your comment.
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Popson0424: 2:12pm On Oct 30, 2025
God bless you bro!! You are very correct and that's what I expected from them, it's long overdue.
Almunjid:
To tackle inflation and naira devaluation, Nigeria could follow Ghana's lead and redenominate the naira. By removing a zero from current denominations, resulting in new notes like N1 (formerly N10), N2, N5, N10, N20, N50, N100, N500, and N1,000. This simplifies transactions and aligns with Ghana's successful cedi redenomination. grin

Peace!
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Iran2025: 2:13pm On Oct 30, 2025
APC, Tinubu and their experts are senseless and foolish. Instead them to revive the dead industries and build more for us to be exporting to strengthen the dead Naira.
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Gboss247(m): 2:13pm On Oct 30, 2025
Warmaterial:
They should do it at least 5000 and 10000 naira note just as CFA because the 1000 naira note now is as useless as 'P' in psychology.
Then, your 5,000 and 10,000 notes will be useless as "k"n knife
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Gboss247(m): 2:15pm On Oct 30, 2025
Hemanwel:
I have made this suggestion sometimes ago. You don't even need to be a financial expert to know this.

Due to the reduction in the purchasing power and the hyper-inflation in the country, the need for the CBN to issue higher denomination notes is sacrosanct. Abi, until when we start using a bundle of N1000 note to purchase a cube of Maggi, bah?
Very soon, you will be pushing a wheelbarrow load of 10,000 notes to buy of maggi
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by inwahiwe: 2:18pm On Oct 30, 2025
Experts from hell
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by VeeVeeMyLuv(f): 2:19pm On Oct 30, 2025
NOETHNICITY:
How does the administration want you to pay $4 for a bottle of water?
A bottle of water is less than 50cents in Nigeria.
Wait na
we are getting there gradually

They have and are already doing
It

In electricity, petrol, commenced in education not yet full scale. That's why now we have NELFUND (Students borrow to pay school fees and feed)

They parents salary and wages can no longer feed the households not to talk of electricity units, transportation and school fees
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by michoim(m): 2:25pm On Oct 30, 2025
These experts have lost touch with realities on ground. In Nigeria culture, over the years that higher currencies had evolved, it has impacted on inflation. HIGHER CURRENCY DENOMINATIONS WILL INFLICT ANOTHER ROUND OF INFLATION...
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Gboss247(m): 2:26pm On Oct 30, 2025
CodeTemplarr:
our highest denomination is less than $1.

Printing N2000 for example only means the CBN gets to halve the resources needed to create a legal tender that exchabges N2000 worth of value.
When you are done deceiving yourself, a bottle of coke will be sold for 30k!
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by VeeVeeMyLuv(f): 2:28pm On Oct 30, 2025
Gboss247:
Your economics teacher in secondary school will be in severe pains reading your comment.
They are probably feeding him directly from our national cake using a special feeding bottle!

So his selfish comment is not a surprise
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by correctguy101(m): 2:28pm On Oct 30, 2025
So this wereys are only worried about PORTABILITY? And they called themselves experts. Na only how dem go move money be their problem. CBN go do am. Na only evil advice Dem dey sabi follow.

Gods abeg o...
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by maureensylvia(f): 2:29pm On Oct 30, 2025
fineboynl:
It’s long overdue. I would suggest 5000 and 10000 for a start. After a years or 2 we can add 20000.

More of 5k then fewer 10k. and make 20k very scares to see.

When obj introduce 1000 the value today would be like 30-40k. People shouted then. Because it almost amounts to 10$ at the time. Considering dollars also devalued too.

If you give anyone 1k then they will look it in the sun or through touch light just to tell you of it value as at then. But not anymore today.

The only alternative is to redenominate the naira by removing 2 zero or bring higher denomination. If you withdrew 100k in the market. You can’t even use it to buy anything tangible which shouldn’t be.

In fact it should have been done last year.

Higher denomination doesn’t translate to more money in circulation. It only means money in circulation is compressed and scares to see around.

In response to people saying it will cause inflation like zimbabwe
it’s not what caused the inflation there. They face inflation by western sanctions. Same sanctions with Venezuela. Ghana face inflation too and they add 10k notes then. Inflation is why they print higher denomination because it pointless to print valueless currency like we are doing today. They print higher denomination to counter the inflation. Not the higher denomination that cause the inflation. If 20 billion is in circulation and you mob it up with higher denomination with the same 20billion it won’t cause inflation. Alternative is to remove some zero from the currency.

Obj add the option to remove some zero but the senate rejected it. So they introduced higher denomination.
Bla bla bla
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Gboss247(m): 2:29pm On Oct 30, 2025
fineboynl:
if you have 30 billion in circulation the highest denomination is 1000 notes. You can’t even use withdraw half of the notes and destroyed it. Then introduce higher denomination of half the currency 15bllion. You now have fewer note in circulation with more value.

What causes inflation is having excess money. And Not higher denomination. You can’t even use hardly buy anything useful with 1k notes and destroyed as of today.
When you will stop deceiving yourself?
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by Gboss247(m): 2:30pm On Oct 30, 2025
VeeVeeMyLuv:
They are probably feeding him directly from our national cake using a special feeding bottle!

So his selfish comment is not a surprise
Continue to swim in the ocean of ignorance!
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by correctguy101(m): 2:32pm On Oct 30, 2025
Gboss247:
The headline should be "Enemies of Nigeria" not experts. More higher denomination means naira becomes more valueless, Nigerians get poorer with insecurity rates skyrocketing.
They're worrying about how to move money. Other consequences of this is not their business.
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by FreeSpirited: 2:32pm On Oct 30, 2025
ogododo:
Nlfpmod, we wan come be Zimbabwe be dis.
They are doing testing testing Zimbabwe
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by regenerateman(m): 2:45pm On Oct 30, 2025
I don't think people that gave CBN advice on such a sensitive issue are not experts. Zimbabwe issued 100,000 denomination, where is the value of their currency now? The strength of currency of any country is proportionally related to economic activities in the country. We don't export apart from crude oil. Can the economy be ginger in such a way that we can be producing and selling to the out side world? Can we stop importing some of those items we can produce locally? Why is US having $100 as the highest denomination? Can Nigerians be encouraged to go cashless? These and many more need to be answered.
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by SamuelLoch: 2:50pm On Oct 30, 2025
That's a very stupid advise. No analyst said this... This is the special advisers and people or policy trying to test the waters. They want to find out how the public would react...

This is very lame...


1. We are advocating for cashless policy. The rise of Fintechs are helping out to reduce the gap of financial inclusion.

2. More money in the system means transaction can be tracked rather than cash transactions

3. There is no easier way to render an economy useless than to print higher denomination.

4. The USA, UK, China, Germany and other developed nations didn't go this route.

5. There's no easier way to aid theft, kidnapping, laundering, inflation, that to go this route.

Nigeria finally bribed their way and cooked the reports to appear good internationally, but just imagine how backward and selfish their thinking is...


Like I said, no analyst said this, they are just testing the waters...

I really hope that these people are thinking. At least, use Chat GPT if they've forgotten what they learnt.
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by aywagze(m): 2:53pm On Oct 30, 2025
This is not a priority, the experts must be dingbats! We are in a digital age and our naira notes are fine. Improving standard of living should be the priority not this rubbish ..🤔
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by fineboynl(m): 2:54pm On Oct 30, 2025
yemmit90:
What do you know about economic? Perhaps absolutely nothing.

It will totally eroded the value of money. Every manufacturer will be targeting the price of their good in a ratio to higher denomination. Spending habit will change, and servive charge will surge. 1k will look like 100 naira in value, people will see it as a waste of space in their wallets, and you cant easily convince people with it but high denomination.
what do you know? 1000 naira is not the cause of inflation in Nigeria. Ibb and abacha kill Nigeria economy with massive inflation. When obj came he address that with 100, 200, 500 and 1000.
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by shoboy9: 2:55pm On Oct 30, 2025
ogododo:
https://x.com/instablog9ja/status/1983826418451570727?t=labuQCh8QBzW7eh[/quote]I cant find the name of the "experts" or a link. Can someone help?
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by fineboynl(m): 2:56pm On Oct 30, 2025
inyass2580:
Na musicians dis one go pay most

10k bundle in 100 places na big money

And for a common man to get hold of dt 10k in 3 pieces dts 30k wil come with lot of stress and all sort of dirty and nard job…. 1000 will now be 50 for buscuit.. so imagine buyin a biscuit for 500 because as 5000 or 10000 dn dy
100, 200 will be useless

Jst 500 , 1000 will still be in circulation…. Dis is a wrong move because Nigeria is indeed a Zoo
where you wan see the bundle. There is already limit of cash that can be withdrawn per day
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by abbey621(m): 2:57pm On Oct 30, 2025
Who are the so called experts? What are their qualifications? Una sha wan further kobalize this country, no sane nation believes higher note will do more good than harm, NO SANE EXPERT believes such nonsense, Zimbabwe is still suffering till date, STOP IT!
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by OlaNurudeen: 2:57pm On Oct 30, 2025
Who are the so stupid experts
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by streetsoldier1(m): 2:58pm On Oct 30, 2025
It sha not be well with that expert that gave such advice .... Shey the weyrey no do Basic Economics for School abi?
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by COMPAQ(m): 2:58pm On Oct 30, 2025
Dbeautyy:
Bro. When it comes to Nigeria, it is never a beer parlour gist. Why? The regulatory body hardly follow-up on their duties in this nation. Good example: ever since prices of edibles don go up, I observed something which is = Increase is price, decrease in quantity and quality. Then the question is why increase the price when you know that you will reduce quality and quantity. Let them bury the idea of higher denominations
Reducing quantity while still increasing price or at least keeping price stable happens everywhere. Its called shrinkflation. Some companies looking for 20% increase in price may have felt Nigerians cannot absorb it, so rather the increase price by 10% andnr educe quantity by 10%, thereby stylishly achieving their 20%
Re: Experts Urge CBN To Issue Higher Naira Denominations Of N10,000 And N20,000 by oluxy(m): 3:00pm On Oct 30, 2025
ogododo:
https://x.com/instablog9ja/status/1983826418451570727?t=labuQCh8QBzW7eh[/quote]The expert should also advice CBN to initiate spending 0.5kobo and 1 naira,

It will help our economy more than producing 10,000 and 20,000
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