CLEAN : Nigeria unveils new 200,500 and 1,000 naira banknotes

The video discusses the need for redesigning Nigerian currency notes, highlighting international best practices that suggest redesigning every 5 to 8 years. It has been nearly 20 years since the last major redesign. The benefits include controlling inflation, fighting corruption, and enhancing security features. The redesigned notes will also reflect Nigeria's rich heritage.

What is the main topic introduced in the second section of the transcript?

• The benefits of currency redesign

• The history of Nigerian currency

• The features of redesigned currency

• The introduction of new currency notes

According to international best practices, how often should currencies be redesigned?

• Every 5 to 8 years

• Every 10 to 15 years

• Every 20 years

• Every 2 to 4 years

What is one of the economic benefits of currency redesign mentioned in the transcript?

• Improving international trade

• Increasing the value of the currency

• Controlling inflation

• Reducing the cost of printing money

How does currency redesign help in the fight against corruption?

• By reducing the number of currency notes in circulation

• By tracking the movement of high denomination notes

• By making it harder to counterfeit

• By increasing the value of the currency

What is a feature of the redesigned currency notes?

• They have enhanced security features

• They are made of plastic

• They are larger in size

• They are printed in multiple colors

Which of the following is NOT a feature of the redesigned currency notes?

• Rich heritage

• Increased size

• Attractiveness

• Greater durability

What is the purpose of including cultural heritage in the currency design?

• To make the currency more attractive to tourists

• To promote national identity

• To comply with international standards

• To increase the currency's value