A recent report by Quartus Economics has called on the Central Bank of Nigeria (CBN) to introduce higher-denomination currency notes ₦10,000 and ₦20,000 to enhance the naira’s convenience and curb the growing cost of cash handling.

According to the review, the current denominations no longer reflect the realities of Nigeria’s inflationary environment, making large cash transactions cumbersome for individuals and businesses. The introduction of higher-value notes, the report suggests, would restore the naira’s portability, reduce the volume of cash in circulation, and improve efficiency in financial operations.

Analysts further argued that such a move would align Nigeria’s currency structure with that of other emerging economies facing similar inflationary pressures, while also supporting smoother commercial transactions across the country.