 |
President Muhammadu Buhari approves redesign, and Production, circulation of new series of N200, N500, and N1,000 banknotes
CBN Governor, Godwin Emefiele says "the issuance of new Naira banknotes, 20 years after last redesign exercise, will commence December 15, 2022"
CBN says new and existing currencies shall remain legal tender and circulate together until January 31, 2023 when the existing currencies shall cease to be legal tender
CBN frowns at high rates of counterfeiting of N500 and N1,000 banknotes.
CBN says Bank seeks to mop up about N3.32 trillion outside the banks’ vaults to take control of money supply in Nigeria
“The integrity of a local legal tender, the efficiency of its supply, as well as its efficacy in the conduct of monetary policy are some of the hallmarks of a great Central Bank,” – Emefiele
....Newly designed currency to be released to the banks in the order of first-come, first-served basis.
CBN says that the present notes remain legal tender and should not be rejected as a means of exchange for the purchase of goods and services...Emefiele says redesigned currency will help Bank’s drive to deepen cash-less policy and complement increased minting of eNaira
:via CBN Twitter post