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Banking Regulations in Nigeria and Cuba
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Overview
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Nigeria's central bank extends the use of old bank notes until December 31, 2023, following a Supreme Court order. In contrast, the introduction of a CBDC in Nigeria caused chaos and poverty, leading to violent protests and the restoration of the old currency. Cuba implements new regulations to combat inflation and off-the-books economy, aiming to promote electronic payments.
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How might the extension of old bank notes in Nigeria impact the country's economy and financial stability?
In what ways could the experiences of Nigeria and Cuba influence other countries' banking and monetary policies?
What are the potential implications of Cuba's new regulations on its economy and citizens' access to goods and services?
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