FG Unveils Redesigned Naira Notes To General Public, Release Deadline To Render Old Notes Useless

The Federal Government has unveiled the redesigned naira notes to the public.

It was unveiled at the Federal Executive Council meeting presided over by President Muhammadu Buhari a few minutes ago.

While Ago, The Governor of the Central Bank of Nigeria, Godwin Emefiele warned Nigerians against hoarding of the old notes, saying there is no going back on the January 31st 2023 deadline to completely render the old notes useless.

The redesigned notes are in denomination of N1000, N500 and N200.

The Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, on Tuesday insisted that the deadline for the new naira notes would not be changed.

Emefiele stressed that the January 31, 2023 deadline is sacrosanct.

“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 Central Bank governor explained