Nigeria's Fines for Selling New Banknotes

Nigeria's Central Bank (CBN) has imposed a ?150 million fine on deposit money banks and financial institutions caught selling newly minted banknotes to currency hawkers. The details of the fine, contained in a Friday circular seen by TechCabal, come as Nigeria grapples with a prolonged cash shortage that has left customers struggling to access cash at ATMs and over-the-counter.

The cash crisis began in late 2022 with the CBN's controversial currency redesign policy, aimed at curbing counterfeit currency and "reducing cash outside of banks." The unintended effect was a cash shortage that led to widespread frustration among citizens who could not access cash in banks and ATMs.

The shortage continued long after the currency redesign was shelved and has led to a surge in demand for cash via alternative channels...

Kavan writes:

To read the complete article and circular, see:
CBN imposes ?150 million fine on banks found selling mint banknotes to currency hawkers(https://techcabal.com/2024/12/13/cbn-imposes-n150m-fine/)
https://www.cbn.gov.ng/Out/2024/CCD/Circular13Dec2024_B.pdf

The First European Banknotes: Swedish Kreditivsedlar

Swedish Kreditivsedlar (also Credityf-Zedel, Latin creditivus = trustworthy, i.e. "trust certificates" or freely translated "Kreditivzettel" or "Kreditivscheine") were the first European banknotes, issued from 1661 by Stockholms Banco - the first Swedish central bank - founded and managed by Johan Palmstruch.

To read the complete article, see:
Lexicon: Kreditivsedlar(https://www.geldscheine-online.com/post/lexikon-kreditivsedlar)

Subtle Resistance in Paper Money Design

When Japan invaded China in 1937 during the Second Sino-Japanese War, it installed puppet governments to control local populations. Many of these puppet regimes issued their own paper money. Amid the brutal Japanese occupation, hidden messages appeared on some banknotes issued by these governments as a form of subtle resistance. For example, on several denominations of the 1938 issue by the Federal Reserve Bank of China, Confucius's hands were depicted making an inappropriate gesture considered offensive in both Japanese and Chinese cultures. Additionally, on later issues, engravers are believed to have deliberately embedded individual letters into the designs, which, when deciphered, spelled out messages like 'United States Army Coming' and 'Central Government Will Return Soon.' These hidden symbols reflected the defiant spirit of the Chinese people during this difficult period.

To read the complete article, see:
Banknotes as Diplomatic Tools: Soft Power in Currency Design(https://stacksbowers.com/banknotes-as-diplomatic-tools-soft-power-in-currency-design/)