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Bullion

Keywords

Currency restructuring, Alternatives payment, Currency management

Abstract

One of the mandates of the Central Bank of Nigeria (CBN) as provided in the CBN Act of 1991 (as amended) is the issuance of legal tender currency. This paper examines the rationale for currency restructuring so as to elicit the buy-in and support of the media and in that way enhance the acceptability of the currency in economic transactions in Nigeria. The rest of the paper is organized as follows: Section 2 outlines the major elements of currency restructuring, while section 3 discusses the critical success factors. In section 4 the role of the media is enunciated while section 5 contains the summary and some concluding remarks. The paper concluded that, there those who believe that transactions in cash provides anonymity, is convenient and avoids debt. Because cash is popular in our jurisdiction, it is likely to remain for quite sometimes. The electronic media can provide support in the form of discussions etc., as their contribution to enlightenment campaign.

Author Bio

The author is a staff of Central Bank of Nigeria, Nigeria.

Publication Title

CBN Bullion

Issue

4

Volume

30

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