CBN makes U-turn, sets new date to unveil redesigned Naira Notes

CBN makes U-turn, sets new date to unveil redesigned Naira Notes

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The Central Bank of Nigeria (CBN), President Muhammadu Buhari will unveil newly designed N1,000, N500 and N200 notes, amidst uncertainty.

FILE: OLD N1000 NAIRA NOTES, GODWIN EMEFIELE (CBN GOVERNOR), PRESIDENT MUHAMMDU BUHARI

The Central Bank of Nigeria (CBN) says President Muhammadu Buhari
will unveil the newly designed notes on Wednesday, November 23, 2022.

Godwin Emefiele, Governor of the apex Bank of Nigeria, insisted that the CBN won’t wait till December 15 date earlier announced by the Bank.

He disclosed this at the apex bank’s Monetary Policy Committee monthly meeting in Abuja where the CBN MPC also hiked monetary policy to 16.5 per cent from 15.5 per cent.

All other parameters remained unchanged, according to the Governor said, “By the special grace of God, tomorrow, which is the 23rd of November 2022, the President has graciously accepted to unveil the new currencies and the new currencies will be unveiled tomorrow at the Federal Executive Chamber by 10am.

“100 days is enough for any person from any part of Nigeria to deposit his money in the bank and get his money when the new notes are released.

“For information, indeed, we are no longer waiting till December 15th to unveil and begin to release the new notes”, he said.

Recall that on October 26, 2022, Emefiele, announced the apex bank will issue redesigned N200, N500, and N1,000 notes, effective December 15, 2022.

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It also said the new and existing currencies will remain legal tender and circulate together until January 31, 2023.

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