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NAIRA REDESIGN
As Nigeria battles with a crashing local currency, the International Monetary Fund (IMF) has warned that dollarisation is hard to revert
Global practices recommendation is that countries of the world should redesign the currency notes every five to eight years
Since the CBN announced that it was redesigning N200, N500 and N1000 notes, there has been a significant increase in the demand for dollars
Buhari said he was convinced the economy stood to benefit from a reduction in inflation, currency counterfeiting, and excess cash in circulation
The International Monetary Fund (IMF) recently urged the Central Bank of Nigeria (CBN) to apply caution in its bid to redesign the naira to curb inflation
The naira suffered a historic plunge to N775/$ on Friday, two days after the CBN announced it was redesigning the 200, 500, and 1,000 naira notes
Nigerians have expressed mixed reactions to CBN's plan to circulate redesigned naira notes
Some of the experts who spoke to Nairametrics said the move was unnecessary