A new economic review by Quartus Economics has called on the Central Bank of Nigeria (CBN) to introduce higher-value currency denominations — specifically ₦10,000 and ₦20,000 notes — to address the declining purchasing power of the naira.
According to the report, the move would help restore the naira’s portability, ease the rising cost of cash handling, and reduce transaction inefficiencies in a high-inflation economy.
The firm noted that with inflation eroding the value of existing denominations, carrying large sums of cash for everyday transactions has become increasingly cumbersome for individuals and businesses alike.
Quartus Economics also urged the apex bank to pair the measure with broader monetary reforms aimed at strengthening public confidence in the naira and curbing inflationary pressures.