Nigeria’s silent currency redenomination

5 hours ago 2

There has been no proclamation by the Central Bank of Nigeria, no parliamentary debate, and no introduction of a new monetary unit. Across markets, transport routes and neighbourhood shops, the naira has effectively undergone a silent redenomination. The smallest denominations (N5, N10, N20 and N50) have largely disappeared from everyday transactions, pushed out not by […]

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