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Banks To Commence Issuance Of New Naira Notes

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Banks To Commence Issuance Of New Naira Notes

Commercial banks will commence the circulation of the much awaited newly redesigned Naira notes from the Central Bank of Nigeria (CBN) to customers across the country today.

This is coming after the CBN Governor, Godwin Emefiele revealed that the new notes had been sent to banks, while insisting that the timelines – in terms of December 15 for commencement and the January 31 deadline were sacrosanct.

The apex bank had in October 2022, redesigned all major Naira notes and notified the public that it would start circulating them before the end of the year.

The affected denominations are, N200, N500, and N1000.

The last time the CBN redesigned the naira was in 2014 when it changed the design of the 100 Naira note to commemorate Nigeria’s centenary anniversary.

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