This Blog is by Osbert E. Agho, a Benin City, Edo State based businessman and a prominent politician. On this blog, you will get first hand, and hard to find news items, commentaries and events happening around the World and Nigeria. News about the every day people and their environment. Enjoy reading news will uplift mankind.
Wednesday, August 15, 2012
The Central Bank of Nigeria says they are coming out with a #5.000 note in September 2012. My take on this is that, It looks like we are following the path of Brazil in the 1980's when they were printing all kinds of denominations. At a time they ran out of ideas and started revising their currency, their single unit became the highest while the highest became the lowest. They could not get out of the economic crunch until they faced reality. We do not need #5,000 Naira note what we need is Naira to be at par with the dollars. period.
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