Nigeria

Nigeria: Demonetisation won't salvage the naira – not a game-changer for banks

  • CBN Governor Emiefele announced that new designs of high-value currency will begin circulation in December

  • The aim is to rein in unbanked cash (+85%) and improve effectiveness of monetary tools on inflation and the naira

  • Demonetisation will not tackle real issues on FX. Also not a game-changer for banks, but multiples are currently cheap

October 28th, 2022
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