The Polymer notes were engulfed in corruption from the onset.
The Central Bank of Nigeria (CBN) is set to phase out polymer notes by June this year as the apex bank is to begin the printing of second generation smaller denominations in paper from that time, the News Agency of Nigeria is reporting.
In an interview with the agency on Sunday in Washington DC at the Spring Meeting of the World Bank and the International Monetary Fund, Tunde Lemo, the Central Bank Deputy Governor, said the bank is phasing out the polymer notes because it fades out easily.
It is obvious it was not well thought out as it is the usual in Nigeria. I only wonder how much this would cost the nation-a nation where people die daily because of poverty.
No comments:
Post a Comment
Please comments are invited