A public affairs analyst, Bala Zaka, has implored CBN to use the opportunity of this cash squeeze to make #200 the nation’s highest denomination.
According to him, considering the micro and macroeconomic activities interplay, he suggested, “this is the best time to withdraw the #1,000 and #500 bills out of circulation because we honestly don’t need them.
“We should use this opportunity to make #200 our highest denomination and that will help in deepening the cashless policy and even reduce crime, because if you analyse it critically, you will agree with me that kidnapping for liquid cash ransom by bandits and criminals has really gone down. Ransoms paid through banks and other electronic media can easily be traced and the criminal hunted and smoked out.”
He added that more #200 and lower bills should be pumped into circulation.
