Connect with us

Hi, what are you looking for?

E-Financial

Buhari Unveils New Naira Notes Today

President Muhammadu Buhari will unveil the newly designed naira notes today Wednesday, November 23, 2022, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), said on Tuesday.

Emefiele made this known during the apex bank’s Monetary Policy Committee monthly meeting in Abuja.

According to him, the CBN won’t shift its deadline for all old notes to be returned to commercial banks in exchange for newly designed ones.

Read Also: IYF, Google.Org Partner to Empower Youths with Digital & Entrepreneurial Skills in Nigeria, South Africa & Kenya

The CBN MPC also hiked monetary policy to 16.5% from 15.5% while all other parameters remained unchanged.

Emefiele had on October 26, 2022 said the apex bank will issue redesigned N200, N500, and N1,000 notes, effective December 15, 2022, while the new and existing currencies will remain legal tender and circulate together until January 31, 2023.

However, he made a U-turn on Tuesday, saying the CBN won’t wait till December 15 anymore as the President will unveil the new notes on Wednesday.

The bank chief said, “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.

“By the special grace of God, tomorrow (today), 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.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

News

Nigerians have lost N4.8 trillion ($2.99 billion) to various scams since 2016, according to findings by Paul Alaje, a prominent Nigerian economist and chief...

News

Sextortion scams have become so widespread that the Federal Bureau of Investigation (FBI) is sending agents to Nigeria to help track down the perpetrators....

News

MTN Foundation has officially launched its Skills Academy, a transformative digital learning platform designed to empower millions of Nigerians with access to digital and...

Tech

Meta has announced its intention to appeal the decision of the Competition and Consumer Protection Tribunal (CCPT), which upheld a $220 million fine imposed...