Emefiele Says Redesigned Naira Notes Ready For Issuance

Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), has revealed that the newly redesigned Naira notes are already in banks and ready for issuance.

Emefiele disclosed this during a visit to brief President Muhammadu Buhari on the Naira redesign and the recently reintroduced cashless policy.

He said that the currency redesigns and reintroduced cashless policies are for the good and development of the Nigerian economy.

He urged Nigerians to embrace the various electronic channels available for banking and financial service transactions in Nigeria.

“The newly redesigned N200, N500, and N1,000 banknotes are now in banks and ready for issuance to members of the public.

“The currency redesign and reintroduced cashless policies are not targeted at anybody but are for the good and development of the Nigerian economy.

"The CBN deferred the cashless policy severally to prepare and deepen Nigeria’s payments system infrastructure,” he said.

Emefiele advised Nigerians to take their old N200, N500, and N1,000 bank notes to the banks before the January 31, 2023, deadline.