Buhari to unveil redesigned naira notes – Emefiele

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The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has announced that President Muhammadu Buhari will unveil the newly designed N1,000, N500 and N200 on Wednesday, November 23, 2022.

Emefiele announced this on Tuesday during the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja, stressing that the CBN will not extend its deadline for all old notes to be returned to commercial banks in exchange for newly designed ones.

He added that the CBN MPC also increased monetary policy from 15.5% to 16.5% while all other parameters remained unchanged.

Emefiele had announced on October 26, 2022 that 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.

He, however, declared on Tuesday that the apex bank will no longer wait till December 15 as the President will unveil the new notes on Wednesday.

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