Buhari to unveil redesigned banknotes on Wednesday

Buhari to unveil redesigned banknotes on Wednesday

Promise Eze

Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has revealed on Tuesday that President Muhammadu Buhari will unveil newly designed banknotes on November 23.

Mr Emefiele stated this during the Monetary Policy Committee meeting of the apex bank in the Federal Capital Territory, Abuja, according to a Channels TV report.

Mr Emefiele stated that the CBN will not extend the deadline for old notes to be returned to commercial banks in exchange for redesigned ones.

“The bank won’t shift its deadline for all old notes to be returned to commercial banks in exchange for newly designed ones.

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

“The new and existing currencies would remain legal tender and circulate together until January 31, 2023,” he said.

Recall that on October 26, the apex bank had disclosed plans to issue a redesigned N200, N500, and N1,000 notes from December 15, 2022

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