Some Naira Notes have undergone redesigns, according to a statement from the Central Bank of Nigeria on Wednesday.
At a news conference in Abuja, CBN Governor Mr. Godwin Emefiele made this statement.
The new notes include the N200, N500, and N1000, according to Emefiele.
Emefiele stated that the updated design and new features would go into effect in December 2022.
Deposit Bad Naira Notes In Bank By Monday, CBN Tells Nigerians
When the new notes go into force, he advised Nigerians who still have the old ones to go to their banks and ask for them.
The new currency is being introduced while the Naira is going through its worst collapse.
A few days after Bank of America claimed that the naira was 20% overvalued, the currency is currently trading at an all-time low in the unofficial market.
On Wednesday, black market vendors in Abuja offered prices of N755 to N757 per dollar.
The Naira decreased 0.06 percent to close at N441.50 per dollar at the Investors and Exporters Window from N440.
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