MY OPINION ON THE NEW NOTES!

It baffles me when we joke with virtually everything in this country, and it's not far from why our leaders see us as jokes. The Central Bank of Nigeria introduced the new notes of two hundred, five hundreds and one thousand naira today. And instead of us to applaud it or at least ask questions we hurriedly went out to social media platforms to criticize the new notes.

People came up with the opinion of how the new notes was not different from the old ones and how the notes where not as beautiful as expected.
Then I ask, was the aim to beautify our notes?
The answer is no! The aim of the exercise was to bring back the money that is out of circulation back to the economy, these are money's stored in some apartments, stores, houses etc by politicians or those engaged in black market economy. We mean people who has billions of naira in their apartments. Now, someone might be tempted to ask "if Mr Ada returns the money to the bank what is my benefits?"
The answer is simple, if Mr Ada returns let's say 10billions to say bank XYZ, bank XYX has excess cash to give out and possibly give out loans to Mr oko, Mr Johnson, Mr Dada. At a cheaper rates since banks have money that is taking their space in the vault. The these 3 gentlemen engages in business that creates employment and possibly oil the economy and it's tickles down to you.

This above reason is the major reason for the redesigning of the notes. Others include but not limited to the following.

*Reducing the cost of printing notes

* Corruption reasons

*Election reasons

Now, let's ask ourselves if CBN archived their major aim of redesigning the notes? The answer is Yes. People have returned stacked cash back to the banks, as a matter of facts trillions of naira have been returned.

Has CBN reduced the cost of printing naira ? The answer is in affirmative.

So next time instead of you criticising each government moves, learn to ask questions and learn.

#learn
#nobeeverythingbejoke
#newnotes