President Muhammadu Buhari has unveiled the newly redesigned 200, 500, and 1000 naira notes.
Buhari unveiled the new currency notes on Wednesday morning, November 23, 2022, before the federal executive council (FEC) meeting at the state house, in Abuja.
Godwin Emefiele, governor of the Central Bank of Nigeria (BN), was in attendance during the unveiling ceremony.
Recall that on October 26, 2022, the CBN announced a plan to redesign some naira notes, saying the action was taken in order to take control of the currency in circulation.
According to the apex bank, the bulk of the nation’s currency notes were outside bank vaults and that the CBN would not allow the situation to continue.
While the new notes have been unveiled today, as from January 31, 2023, the old notes will cease to be legal tender.
The newly unveiled naira notes will be in circulation from December 15, 2022, according to the CBN.