President Muhammadu Buhari unveiled the re-designed N200, N500 and N1000 notes at the commencement of the weekly meeting of the Federal Executive Council (FEC).
Reports that a tweet by the president’s assistant on social media, Bashir Ahmad, confirmed that President Buhari unveiled the new naira notes today at the FEC meeting.
Buhari was flanked by cabinet officials, including the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele while unveiling the redesigned N1,000, N500 and N200.
The new Naira notes will become legal tender commencing from December 15, while the old ones will cease to be legal tender effective February 1, 2023.
This is the first time in 19 years that Nigeria will be redesigning some of her currency notes.
We recalls that Emefiele on Tuesday confirmed that President Buhari will unveil the redesigned Naira notes on Wednesday, November 23, 2022.
Emefiele disclosed this while speaking at the Central Bank’s Monetary Policy Committee monthly meeting in Abuja.
According to Emefiele, the deadline for returning the old Naira notes to commercial banks in exchange for newly designed ones would not be shifted.