Naira Resign: CBN unveils countdown clock for implementation

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The Central Bank of Nigeria (CBN) has launched a countdown clock on its website for the January 31, 2023, deadline for the N200, N500, and N1,000 notes currently in circulation.

Recall that on October 26, 2022, the CBN governor, Godwin Emefiele, had announced a Naira redesign policy to produce new notes for three of the naira denominations comprising N200, N500, and N1,000 notes.

Though the CBN’s decision sparked mixed reactions, the apex bank has insisted on proceeding with its implementation to sanitize the country’s economy.

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