Central Bank of Nigeria ‘Slowly’ Phasing Out Old Naira

The Central Bank of Nigeria says it is slowly replacing old N200, N500 and N1,000 notes with redesigned ones. <br />Acting CBN Governor, Folashodun Shonubi, says there is an optimal level of currency in circulation and what is being done at the moment is replacing worn-out notes with new ones. <br />The apex bank also raised the Monetary Policy Rate which measures interest rate, from 18.5% to 18.75%. <br /><br /><br />This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at <a href="https://www.spreaker.com/show/4166630/advertisement">https://www.spreaker.com/show/4166630/advertisement</a>