The
Deputy Governor, CBN, Mr. Tunde Lemo, disclosed in an interview with
the News Agency of Nigeria on Sunday that The Central Bank of Nigeria
has stopped the printing of small denomination naira notes in polymer
because they fade quickly.
This would change N5, N10, N20 and N50 from polymer to paper.
He said,the polymer should have been dumped because,though the substrate lasts longer, but the in-con-substrate began to fade; they didn’t realize that at the time of introduction.
Lemo said the CBN had awarded a contract for the printing of the higher denomination notes to a foreign company because of low capacity at the Nigerian Printing and Minting Company.
What's your thought on this?
This would change N5, N10, N20 and N50 from polymer to paper.
He said,the polymer should have been dumped because,though the substrate lasts longer, but the in-con-substrate began to fade; they didn’t realize that at the time of introduction.
Lemo said the CBN had awarded a contract for the printing of the higher denomination notes to a foreign company because of low capacity at the Nigerian Printing and Minting Company.
What's your thought on this?
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