Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Wednesday, disclosed that plans were afoot to unveil new redenominated naira notes by December 15 this year, asking depositors to hit the banks to exchange their old currencies for the new ones before the January 31, 2023 expiration date.
Emefiele made the disclosure at a special media briefing in Abuja, saying the move has since secured the approval of President Muhammadu Buhari and other stakeholders.
He said move was also to retrieve huge funds outside the banks.
The Central Bank of Nigeria (CBN) has redesigned some new naira notes.
Godwin Emefiele, CBN governor, said this at a press conference on Wednesday.
Emefiele said the new design and issues will be effective from December 2022.
According to Emefiele, the new notes include N200, N500 and N1000.
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Musa Abbo Bayero
I never like the 200 500 and 1000 naira notes, the even the united state has the highest notes at 100 dollar bill. It's a good decision to reduce the inflation of our once upon a time naira. No more 50 billion of naira storage in the house while poor masses suffer in lack. Let the naira be
Musa Abbo Bayero
And if dollars can only be bought from the CBN it will even be better. Let's value our own
Tochukwu Solomon
This is not the problem of this country, things are very difficult...
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