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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