Buhari Unveils Redesigned Naira Notes, Today

President Muhammadu Buhari will, today, unveil the newly designed naira notes in Abuja.
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, made this known in Abuja, yesterday.
CBN had said the redesigned naira notes would be released by December 15, adding that existing ones would cease to be regarded as legal tender by January 31, 2023.
The naira notes to be redesigned by the apex bank include N200, N500, and N1000.
According to him, the CBN won’t shift its deadline for all old notes to be returned to commercial banks in exchange for newly designed ones.
Emefiele had on October 26, 2022, said the apex bank will issue redesigned N200, N500, and N1,000 notes, effective December 15, 2022, while the new and existing currencies would remain legal tender and circulate together until January 31, 2023.
However, he made a U-turn, yesterday, saying the CBN won’t wait till December 15 anymore as the President will unveil the new notes, today.
Emefiele stressed that the January 21, 2023 deadline was sacrosanct.
He said, “No, we will not shift any deadline, what we have done is not against the law; it’s in tandem with the law.
“We announced this programme on October 26, 2022, and we said upon release of the new currency, the legal tender status will run concurrently with the old currency till 31 January 2023.
“That is almost 100 hundred days, 100 days is enough for any person in any part of Nigeria to deposit his money in the bank and get ready to withdraw cash when the new notes are released,” the CBN governor explained.
“For information, indeed, we are no longer waiting till December 15 to unveil and begin to release the new notes.
“By the special grace of God, tomorrow (today), which is November 23, 2022, the President has graciously accepted to unveil the new currencies, and the new currencies will be unveiled tomorrow at the Federal Executive Chamber by 10am.”