World Bank don warn CBN on di negative impact of Naira redesign on economy

Di World Bank don warn say di time and short transition period to di redesigned naira notes go get negative impact on economic activities and in particular di poorest households.

Di redesigned N200, N500 and N1000 naira notes circulation start on Thursday December 15th while di old ones no go be legal tenders from January 31st next year.

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Di World for di latest Nigeria Development Update, December 2022, agree with di Central Bank of Nigeria, CBN, say di need to redesign di nation currency dey over due. Dem note say di naira neva dey redesigned for two decades.

International experience suggest say rapid demonetizations fit generate significant short-term costs, with small-scale businesses, and poor and vulnerable households.

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