The N5, N10 and 50 denominations will be converted from paper to polymer notes to reduce the cost of printing, Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi said Wednesday.
CBN is producing 1.95 billion pieces of the notes, which will be launched by President Umaru Ya’Adua in Abuja on September 30, to ensure wide circulation.
Sanusi said the introduction of the notes was part of the currency restructuring initiated by the CBN few years ago.
According to him, CBN has since 2007 agreed to challenge more notes to polymer. N20 was changed to polymer note that year.
He said: “It will be recalled that four lower bank note denominations of the Nigerian currency (N5, N10, N20 and N50) were redesigned and issued into circulation on February 28,2007. The redesign of the Nigerian currency was in conformity with international best practice which requires that the currency structure be reviewed periodically to safeguard the integrity of the currency as well as the efficiency and cost effectiveness”.
Sanusi and the objectives of the 2007 currency reforms were achieving cost reduction in bank note printing, enhancing the durability of banknotes, recycling of polymer notes to reduce urban filthiness and sustaining central’s Bank’s clean notes policy.
Polymer notes, he said, reflect modern designs in currency production, adding that their sizes are reduced to fit into people’s wallets. Other features are special symbols to ensure identification, streamlined security features and absence of the + N= sign.
He said the values of the currency were translated into Hausa, Igbo and Youruba for easy recognition by most Nigerians.
Sanusi said the existing N5, N10 and N50 denominations remain legal tender, adding that they would circulate side by side with the new polymer notes for six months.
Director of currency operations, Mr Ben Oyindo said the printing of polymer notes is cost effective than paper currency.
Oyindo, said CBN decided to print the polymer notes abroad due to its large volumes. He said: “We produced the new notes abroad due to its large volumes. This is cheaper than producing them locally. We are saying that relatively the N20 polymer notes lasts longer. The longer the life span, the better for CBN”.
Oyindo said the Nigerian Minting and Printing Company is working well, adding that printing currency abroad has nothing to do with the state of the mint.
He said CBN had printed 136 billion pieces of N20 in polymer format in the country, noting that the development showed that Nigeria could print some of it currency notes locally.
He said no currency was imported into the country last year because the mint is no good state.
Why Social Media Is Important For Marketing in Business
Nowadays running a business is one of the easiest thingsthat you can do. It can be a small business or a big one it doesn’t matter. Thanksto technology there are so many easy ways to market your business online. This brings us to the topic at hand as to why social,media is important for business marketing.
Directing Traffic towards Your Business
Marketing your business on social media will give your business the limelight that you needs to get the customers that you want. Besides getting visibility you also can attract a global audience through social media platforms. There is no other platform that gets more attention than social media.
Social Media Shows Trustworthiness
One thing that you should keep in mind while marketing your online casino au business on social media is that customers want something they can trust. By posting your brand on social media you get the feedback you need. The more response that you get from your post is what will get more people to trust your brand.
Humanizing Your Brand
Connecting with your customers on social media is one of the ways to bring life into your new online casino business. It’s not all about your making use of these platforms to market your business but also getting to understand theneed of your customers.
Gets You Customer Loyalty
What could be better than a free way to establish brand loyalty? Customers interact with and follow the companies they like. What’s more fascinating is that 53% of clients who follow your company on social media are likely to be loyal to it specifically.If clients follow you on social media, they’re more likely to select you over your competitors.
There are so many benefits that can be brought about by the use of social media in your business. It’s the new way of, marketing that will make your brand grow.
Ways to Use Technology in a Small Business
Technology can greatly increase the success of your business. In different cases, the use of technology may be the progression of the processes you have in place already. In this competitive era using technology as a kind of support to boost your business skills and opportunities can be the best way.
Technology has also changed the online casino gambling industry. It has increased convenience formobile users so that gambling is accessible all the time.
In this article, we are going to give you ways to use technology in a small business.
Use Technology in a Business to Connect with People
One of the great ways of using technology is the ability to communicate and connect with other people. Technology has become a crucial part of not only an individual’s life but also the business. It is an amazing tool to get in touch with customers and employees.
When it comes to modern technology, sending emails and newsletters to the customers can lead one to grow his business overtime.
Therefore, there is an important increase in the sphere of collaboration, with a certain level of flexibility. It has become convenient and also teamwork has grown to a level of understanding.
Improve Marketing Tactics
Regardless of the type of business that an individual is starting, there need to be specific marketing techniques. It would help in the company’s expansion. With technology, it has now become more accessible than ever to hone on those tactical skills to have a real money casinos in Newzealand to be successful business.
In addition, there is software that can help one to build a reliable and solid business plan. Building a company website is an excellent goal for creating a business plan.
In conclusion, these are some ways on how to use technology in a small business.
Top Reasons Why a Research is Necessary When Traveling
When traveling, research can significantly affect how the new environment you’re going to will receive you. Researching about a country you’re going to gives you a great understanding of the area. It also gives you information on what to expect and what to avoid. However, researching is also important when you want to play online gambling games as well.
Let’s look at the reasons why researching is important before you travel.
You Discover the Hidden Gems of Your Destination When You Research
If you research properly before traveling, it gives you an insight into the must-visit places. Researching also gives you a chance to be adventurous without the need of relying on a tour guide. Having proper information about a place you want to travel to gives you the chance to explore more.
Helps to Understand and Appreciate Different Cultures
Moreover, understanding the social norms of your travel destination helps you to easily get used to the environment. You should be in a position to teach yourself a few words used by people in the country you’re in. Doing this can help you to minimize the issues of a language barrier.
Appreciating the culture of a country you’re traveling to is necessary. For instance, knowing the appropriate dress code for a certain occasion is important since some places have rules on this. Believe us, you do not have to dress offensively in a foreign country you’re unfamiliar with.
Know the Places to Avoid
Furthermore, if you research properly before traveling, you’ll know certain places to avoid. For instance, make sure you gather some information on the streets that may be dangerous. This helps to avoid situations of being robbed your hard earned money from online blackjack games .
Researching Helps You to Evade Scammers
In addition, it is important to know how to stay away from places and people leading you to get scammed. So, how do you avoid getting scammed? Researching well can help you with that.
Doing proper research gives you the chance to make informed decisions when the need arises. It is crucial to understand that not everything will flow smoothly in your travel expeditions.
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