I feel that spending billions of naira to redesign a new note and create demand for the Nigeria naira
I don't understand how demand for Naira is created just by redesigning, value isn't going to come from how fancy the currency looks or its domination.
I might not be the most clued up when it comes to the monetary system but creating a new note is just a waste of resources. There are other areas to focus on to give some strength to the Naira, through international business with other nations, maybe putting out the option to get paid in Naira, etc.
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They feel that designing a new note will take the old notes put it circulation. Then for the new notes they want to reduce withdrawal per day via POS and ATM point, thereby making the currency scarce. They feel scarcity is what will bring the value.
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