CBN to release re-designed Naira notes this December

Here is another update coming from the Governor, Central Bank of Nigeria, Godwin Emefiele. He just announced that the bank would release re-designed Naira notes by December 15, 2022.

He also said in his sentence that existing notes would seize to be regarded as legal tender by January 31, 2023.

Emefiele disclosed this awareness to the public during a press briefing in Abuja on Wednesday (today 26th Oct 2022).

The CBN said that "it is worrisome that 85 per cent of the currency in circulation is being hoarded by Nigerians", that why redesign is necessary to make amendments.

He further 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.

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

In addition of more information about this post is coming to you later on. Stay online here with us and get the updates...