Economic experts have called on the Central Bank of Nigeria (CBN) to introduce higher-denomination naira notes, ₦10,000 and ₦20,000, to restore the currency’s value, improve transaction efficiency, and reduce the cost of cash handling in the country. According to a recent economic review, the persistent depreciation of the naira has rendered the ₦1,000 note, Nigeria’s highest denomination, practically inadequate for everyday transactions. The report noted that while ₦1,000 was worth about $7 in 2005, it now trades for less than 60 cents, representing a staggering 94 percent decline in real value over the past 20 years. The analysts argued that introducing higher-value notes would not fuel inflation, explaining that price increases stem from production costs and market demand, not from the size of currency denominations. They pointed out that many countries with similar economic challenges have adopted higher denominations to preserve currency convenience without destabilising prices. They further observed that many Nigerians—especially traders and residents in rural areas—are forced to carry bulky cash for routine purchases due to the limited value of existing notes. Additionally, the cost of printing, transporting, and securing lower-denomination notes has become a significant financial burden for the CBN. The review recommended either introducing ₦10,000 and ₦20,000 notes or considering a currency redenomination to improve cash management, enhance transactional ease, and align Nigeria’s monetary system with international standards. Experts concluded that the move would not amount to printing excess money but rather to modernising the naira to reflect current economic realities and its severely weakened purchasing power.