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Nigeria hopes new currency notes curb inflation, corruption
Nigeria on Wednesday launched newly designed currency notes, a move that the West African nation’s central bank says will help curb inflation and money laundering. The newly designed denominations of 200 (5 U.S. cents), 500 ($1.10) and 1,000 naira ($2.20) also would drive financial inclusion and economic growth, said Godwin Emefiele, governor of the Central Bank of Nigeria. Experts, however, are skeptical about such results in a country that has battled chronic corruption for decades, with government officials known to loot public funds that has caused more hardship for the many struggling with poverty. Nigeria’s ... (full story)