nog banner
Central Bank Redesigns Naira Notes
Central Bank Redesigns Naira Notes
Central Bank Redesigns Naira Notes
– By Jerome Onoja Okojokwu-Idu

Follow us on:

Facebook Twitter Instagram Linkedin

Central Bank Redesigns Naira Notes

The Central Bank of Nigeria (CBN) says it will redesign N200, N500 and N1000 Naira notes.

CBN Governor, Godwin Emefiele, disclosed this during a special press briefing in Abuja.

Godwin-Emefiele-CBN-Governor
Godwin-Emefiele-CBN-Governor

Emefiele who said issues of the new designs will take effect from Thursday, December 15, 2022, added that existing notes would seize to be regarded as legal tender by January 31, 2023.

Giving reasons behind the development, Emefiele said it is worrisome that 85 per cent of the currency in circulation is being hoarded by Nigerians.

He added that the redesigning of Naira notes would help to curb counterfeit notes, as well as hamper ramson payment to terrorists and kidnappers.

The apex bank boss urged Nigerians to proceed to their banks to deposit their Naira notes, adding that the deposit fee would be waived for transactions below N150,000.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Newsletter

Get to read our latest stories right in your email

Show some Love. Share this post

Copyright 2022. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from Majorwaves Energy Report

NIES 2024
NIES 2024
NOG 2024
NOG 2024
TotalEnergies @ 60
TotalEnergies @ 60
SAIPEC 2023 - 7TH EDITION
SAIPEC 2023 - 7TH EDITION
tiktos
tiktos
Show Buttons
Hide Buttons