USER'S INSTRUCTIONS: The project work you are about to view is on "the new naira note redesign and the prospect of inclusive economic development in nigeria" . Please, sit back and study the below research material carefully. This project topic "the new naira note redesign and the prospect of inclusive economic development in nigeria" have complete 5(five) Chapters. The complete Project Material/writeup include: Abstract + Introduction + etc + Literature Review + methodology + etc + Conclusion + Recommendation + References/Bibliography.Our aim of providing this "the new naira note redesign and the prospect of inclusive economic development in nigeria" project research material is to reduce the stress of moving from one school library to another all in the name of searching for "the new naira note redesign and the prospect of inclusive economic development in nigeria" research materials. We are not encouraging any form of plagiarism. This service is legal because, all institutions permit their students to read previous projects, books, articles or papers while developing their own works.
TITLE PAGE
BY
---
--/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
APPROVAL PAGE
This is to certify that the research work, "the new naira note redesign and the prospect of inclusive economic development in nigeria" by ---, Reg. No. --/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
PROJECT DESCRIPTION: This work "the new naira note redesign and the prospect of inclusive economic development in nigeria" research material is a complete and well researched project material strictly for academic purposes, which has been approved by different Lecturers from different higher institutions. We made Preliminary pages, Abstract and Chapter one of "the new naira note redesign and the prospect of inclusive economic development in nigeria" visible for everyone, then the complete material on "the new naira note redesign and the prospect of inclusive economic development in nigeria" is to be ordered for. Happy viewing!!!
This paper investigates the impact of new naira note redesign on economic development in Nigeria. In order to fulfill this objective, this paper reviewed the impacts of similar policy on the Nigeria economy over years by sampling techniques. The design shows that this research is simply the process of arising at a dependable solution to problem through the planned and systematic collection analysis and interpretation of data. Sample size and sampling techniques is 124. The strategies random sampling technique was used. Method of data collection, the interview for collection of more facts and clarification (primary and first hand information). The questionnaires were administered to the bank customers and to the bank staff and management through with a lot of difficulties. Method of data analysis, for the purpose of this data analysis that follows in this part of the work, the following data analysis tools have been extensively use, we use simple percentage to analyse. The finding showed that: (i) naira note redesign have greatly impact the economy of Nigeria. Based on findings it was recommended among other the central bank should release certain policies in other to enable bank to dispense more monies to their customers.
CHAPTER ONE
1.0 INTRODUCTION
- BACKGROUND TO THE STUDY
The currency of every nation has a tremendous effect on the economy and remains one of those distinguishing features of a nation. The effective management and distribution, trade, as well as consumption of goods and services depend largely on the effectiveness of a nation’s currency. According to Alhc (2009), in a monetized economy as it is the case with Nigeria; money is a viable tool for economic transformation, growth and progress. The optimum distribution of economic resources and the efficient functioning of a modern economic system would not be possible without the monetary apparatus which, by and large enables the government to provide the governed with basic amenities and perform other related functions for the benefit of the country. Central Bank of Nigeria CBN, asserts that during the pre-colonial era, different cultures used a variety of items as means of exchange. These included cowries, manilas, beads, bottles, and salt amongst others. They (CBN), also notes that the first currency issue in Nigeria was undertaken sequel to the colonial ordinance of 1880 which introduced shillings and pence as the legal tender currency in west Africa. The units of coins, managed by Bank of England were one shilling, 1 penny 1/2, 1/2 penny and 1/10 penny and were distributed to a private bank, of British west Africa till 1912 (www. CBN. Gov.ng). In Akpabuyo community in cross River State, Nigeria, people pay for what they need with what they have, instead of using coins and banknotes. They say its part of their culture that they want to preserve. BBC News. To further buttress the above, Asobia (2021) opines that in Africa, items adopted as currencies were to a large extent influenced by ecological determinants. Cattle, grains and farming implement were adopted as currencies in North Africa while farming implements and the raw materials were more emphasized in the forest areas of west and central Africa. Obviously, Nigerians being a country in Africa was not left out of the olden day’s method of trading. No wonder, Nwankwo (2021) notes that Nigerians didn’t start using naira until 13 years after independence.
On January 1 st 1973, Nigeria started using its own currency. It was named after naira by Chief Obafemi Awolowo. Naira and kobo was rolled into the Nigerian economy with bank notes and coins. In 1973 also, we had ½ 1, 5, 10 and 25 kobo coins and 50 kobo, N5 and 10 bank notes. The half and one kobo were made with bronze and the higher denominations in cupro-nickel N1 is 100 kobo. In 1977, the N20 was introduced. In 1987, the 5 kobo and 10 kobo and coins removed from circulation and in 1991, the 50 kobo and N1 notes were changed to coins. In 1999, the 100 note was introduced in 2000 N200 was introduced. N500 was introduced in 2001 and N1000, the largest Nigerian in circulation was produced (www. Zikoko. com). The central bank of Nigeria CBN has in many occasions redesigned the naira notes to suit different situations. For example, on 30th September 2009, the redesigned N50, N10 and N5 bank notes were converted to polymer substrate following the successful performance of the N20 (Polymer) banknote. Also, as part of CBN’s contribution toward the celebration of the nations’ 50th anniversary of Nigeria independence and 100 years of its existence as a nation issued the N50 commemorative polymer banknote on 29th September 2010 and the N100 Commemorative banknote on 19th December, 2014 respectively. Recently the Governor of central bank of Nigeria, Godwin Emefiele on October 26, 2022 announced that new naira notes would be introduced to replace the current N200, N500 and N1000 naira notes. Emefiele said that the redesign will take effect from Thursday December 15 2022. He also said that existing notes would seize to be regarded as a legal tender by January 31st 2023 (Vanguardngr. com). On 15th November 2022, the president of the Federal Republic of Nigeria, Muhammadu Buhari unvailed the redesigned naira notes to the public at the Federal Executive meeting. It is obvious that he once a currency is redesigned; the old notes would become useless as they would no longer be regarded as a legal tender. To this end, the researcher is interested in investigating to know how the economy is being affected in the period when the currency is redesigned especially in Nigeria.
1.2 STATEMENT OF THE PROBLEM
Money plays a vital role in the economy of a nation. In fact, it can be likened to the human heart in biology which helps to transport blood to all parts of the body. Without money, no business both in the private or public sector can thrive because it is needed for the day to day running of activities. People at the helm of affairs in the government ministries, parastatals, industries, companies etc with corrupt mindsets have always device means to hoard the naira notes in their quest to amass wealth to themselves, their children and generations yet unborn. This leads to the proliferation of money laundering cases in Nigeria. Currency hoarding does not allow enough money to flow and this as a result impedes the smooth running of economy and also brings about high cost of living. Unlawful duplication of currency which is termed counterfeiting also is a great menace. The above captured reasons make the Central Bank of Nigeria CBN to redesign naira. The question is how does the naira redesign affects the economy of Nigeria?
1.3 OBJECTIVES OF THE STUDY
The objectives of the study were:
1. To find out whether currency redesign has effects on a nation’s economy.
2. Examine the effects that currency redesign have on a nation’s economy.
3. Ascertain whether there is any relationship between currency redesign and improvement on a nation’s economy.
4. To investigate the problems that led to the redesigning of the currency.
1.4 RESEARCH QUESTIONS
1. Does currency redesign affect the nation’s economy?
2. What are the effects that currencies redesign have on a nation’s economy?
3. What is the relationship between currency redesign and improvement on a nation’s economy?
4. What are the problems that led to the redesigning of the currency?
1.5 STATEMENT OF HYPOTHESIS
The hypothesis used in accepting or rejecting the variables of this study is thus;
Hi: Naira redesign has effects on Nigeria economy.
1.6 JUSTIFICATION OF THE STUDY
This study has proved invaluable within the subset of research conducted under pragmatic investigation of how currency redesign affects different economies. Essentially, knowing how the currency redesign affects the Nigeria economy would remain the thrust of this study. The research will be of immense help to the central bank of Nigeria as they would know the effects of the currency redesign and then make use of them in the future if in case, the situation repeats itself. Future researchers would also benefit tremendously from the findings of this research as they may use it as sources of reference material.
1.7 DELIMITATIONS OF THE STUDY
The scope of this study is delimited to how the naira redesign affects the economy only in Nigeria. No attempt or whatsoever was made to investigate how it affects the economy of other nations.
1.8 LIMITATIONS OF THE STUDY
The process of conducting a successful research work especially at this hard time could be very frustrating and tiresome. The researcher in the course of carrying out this research encountered several challenges like poor funding, lack of fast internet connection, lack of contemporary reading environment for the researcher to make findings from books etc. The above problems encountered in the course of the research almost ruined the process but the researcher was able to conquer it because of his passionate love for research studies.
1.9 DEFINITION OF TERMS
The following terms were operationally defined as follows:
Currency: This is the Nigeria bank notes used as a legal tender in Nigeria.
Currency redesign: These are the changes made on the naira bank notes by central bank of Nigeria.
Economy: The system of production distribution, and consumption in an economy.
CBN: This is the acronym for Central Bank of Nigeria which is the body saddled with the authority to control money in Nigeria.
Naira: This is the currency of Nigeria
CHAPTER TWO: The chapter one of this work has been displayed above. The complete chapter two of "the new naira note redesign and the prospect of inclusive economic development in nigeria" is also available. Order full work to download. Chapter two of "the new naira note redesign and the prospect of inclusive economic development in nigeria" consists of the literature review. In this chapter all the related work on "the new naira note redesign and the prospect of inclusive economic development in nigeria" was reviewed.
CHAPTER THREE: The complete chapter three of "the new naira note redesign and the prospect of inclusive economic development in nigeria" is available. Order full work to download. Chapter three of "the new naira note redesign and the prospect of inclusive economic development in nigeria" consists of the methodology. In this chapter all the method used in carrying out this work was discussed.
CHAPTER FOUR: The complete chapter four of "the new naira note redesign and the prospect of inclusive economic development in nigeria" is available. Order full work to download. Chapter four of "the new naira note redesign and the prospect of inclusive economic development in nigeria" consists of all the test conducted during the work and the result gotten after the whole work
CHAPTER FIVE: The complete chapter five of "the new naira note redesign and the prospect of inclusive economic development in nigeria" is available. Order full work to download. Chapter five of "the new naira note redesign and the prospect of inclusive economic development in nigeria" consist of conclusion, recommendation and references.
To "DOWNLOAD" the complete material on this particular topic above click "HERE"
Do you want our Bank Accounts? please click HERE
To view other related topics click HERE
To "SUMMIT" new topic(s), develop a new topic OR you did not see your topic on our site but want to confirm the availiability of your topic click HERE
Do you want us to research your new topic? if yes, click "HERE"
Do you have any question concerning our post/services? click HERE for answers to your questions
For more information contact us through any of the following means:
Mobile No 
:+2348146561114 or +2347015391124 [Mr. Innocent]
Email address 
:engr4project@gmail.com
Watsapp No 
:+2348146561114
COUNTRIES THAT FOUND OUR SERVICES USEFUL
Australia, Botswana, Canada, Europe, Ghana, Ireland, India, Kenya, Liberia, Malaysia, Namibia, New Zealand, Nigeria, Pakistan, Philippines, Singapore, Sierra Leone, South Africa, Uganda, United States, United Kindom, Zambia, Zimbabwe, etc
Support: +234 8146561114 or +2347015391124
Watsapp No :+2348146561114
Email Address :engr4project@gmail.com
FOLLOW / VISIT US VIA:
