Economy - Voice of America: Nigeria Introduces New Currencies

Economy - Voice of America economy-and-business

Nigeria Introduces New Currencies Aug 30th 2012, 15:41 Early next year Nigeria will introduce a 5,000 Naira bill, worth just over $30, and introduce coins to the economy. Officials say the move will save the country millions of dollars but some analysts say the larger bills will increase corruption.   Modern countries need coins, says the Central Bank of Nigeria. The bank is revamping its currency to keep up with the times. Director of Corporate Communications, Ugo Okoroafor says Nigeria is moving into a new era. "Let's not look at ... Media files: F2FAD86F-947A-4E32-9D12-362F7A17DC3B_cx0_cy2_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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