HOW FAKE DOLLARS IN CIRCULATION AFFECT NIGERIAN ECONOMY

 HOW FAKE DOLLARS IN CIRCULATION AFFECT NIGERIAN ECONOMY

Apart from studying economics education from university of lagos (unilag), I also had the layman knowledge about Nigerian currency unlike us dollars. due to the economic panic in the country many have engaged in using fake dollars to get authentic Naira.

This is how to calculate currency in circulation, if we had one thousand note and it transfer from hand to hand up to ten people it means we have ten thousand Naira in circulation image if the one thousand Niara is fake what will happen to the economy.

Even some of the bureau de change operate with fake dollars systematically, if you are not careful enough you will end up in swapping fake dollar for original dollar. That is why Nigeria economy is still suffer set back in the hand fake currency producers.