BREAKING: CBN To Release Redesigned Naira Banknotes In December

by Echezona obinna
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Central Bank of Nigeria Governor Godwin Emefil has announced that the bank will issue redesigned naira banknotes by December 15, 2022.

He also said that existing banknotes will be considered legal tender until January 31, 2023.

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

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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.

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

Details later…

 

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