Thursday, 17 September 2015

REBRANDING OF NAIRA IMMINENT?

"A toad does not jump around in the day time unless something is after it's life". These words of wisdom continued to play in my mind after i was informed by a little bird who is very close to the authorities, about the plans to phase out the current Naira notes and rebrand them across all denominations.
Could this  possibly be targeted at corrupt politicians, fraudsters and others with questionable wealth that exist outside the banking system? Could it be a move aimed at sniffing out staches of naira buried deep in people's underground tanks, garages etc? or is it just another tool for financial inclusion, control of inflation? If this information truly holds water, what does it portend for our financial system already bugged down by liquidity crises etc, These and many more were the thoughts racing through my mind.Please leave your comments and let us thrash this issue out.

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