Post MPC: March 2023 - FDC - Proshare

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Post MPC: March 2023 - FDC

Mar 23, 2023 • by • Source: FDC Ltd • eye-icon

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OLD NOTES & NEW NOTES

Deadline of old naira notes now extended till December 31st 2023
Total cash in circulation could increase by 20% if all old notes are returned back to the economy
N3.2 trillion of old naira notes + N600 billion of new naira notes = N3.8 trillion
Leading to an increase in inflationary pressure
Confidence in the banking system will remain weak
Velocity of circulation will stay low

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