Connect with us

Hi, what are you looking for?

News

CBN to Release Re-designed Naira Notes December

Nigerian central bank governor Godwin Emefiele in Abuja, Nigeria, in this file photograph dated July 24, 2015. REUTERS/Afolabi Sotunde/Files

The Governor, Central Bank of Nigeria, Godwin Emefiele, has announced that the bank would release re-designed Naira notes by December 15, 2022, Punch reports.

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

Emefiele disclosed this during a press briefing in Abuja on Wednesday.

The CBN said that it is worrisome that 85 per cent of the currency in circulation is being hoarded by Nigerians.

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.

____

Follow us on Twitter at @thesignalng

Copyright 2022 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to  www.signalng.com and other relevant sources.

Click to comment

Leave a Reply

Your email address will not be published.

Advertisement

Related

News

Governor of the Central Bank of Nigeria, Godwin Emefiele, has ruled the possibility of reversing the ongoing implementation of cashless policy, Daily Trust reports. The...

News

President Muhammadu Buhari , has written the Senate, seeking the screening and re-confirmation of the some former deputy governors of Central Bank of Nigeria,...

News

President Muhammadu Buhari has unveiled the redesigned N200, N500, N1,000 naira notes, Daily Trust reports. The notes were unveiled on Wednesday before the start...

News

Barely Forty Eight hours after the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele announced that the apex bank would redesign the country’s...

Copyright ©