Ever since Central Bank of Nigeria has redesigned the Nigeria currency which includes the big note (#200,#500,#1000) are not being acceptable by most traders in the market and this has really caused an uproar in the economy.Most market men and women said they are not aware of the change in the currency and calling the new currency a fake.And this has cause a great issue for buyers who use the new note in buying this in the market.
Will I say the traders are ignorant of what is going on the market? As the new note fail in the sense that it must be generally be acceptable and also the durability which are the characteristics of money?
Comparing the new note and old notes I will say the old note is better than the new note because merely looking at the two the old note is durable than the new note and new note looks rather like fake money.
And until now the new money is yet to be in circulation.
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