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New Naira Notes unveiled Today (Photo)

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New Naira Note unveiled

Buhari unveils new naira notes

New Naira Notes eagerly awaited out of curiosity has finally been unveiled by President Muhammadu Buhari ( GCFR) . Techscoops reported earlier that CBN was to release redesigned N200, N500 and N1000 notes

On Wednesday morning, before the federal executive council (FEC) meeting at the state palace in Abuja, Buhari displayed the new banknotes.

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New 500 naira notes

The N1000, N500, and N200 notes—the highest currency denominations in the nation—are the redesigned notes that were on display.

The Central Bank of Nigeria‘s (CBN) governor, Godwin Emefiele, was present at the unveiling ceremony.

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New 200 naira notes

Boss Mustapha, the secretary to the federation government, Ibrahim Gambari, the president’s chief of staff, and Folashade Yemi-Esan, the head of the federation’s civil service, were all present at the ceremony.

Buhari stressed the significance of revamping the naira notes during the unveiling, adding that it will aid the nation in addressing the issue of illegal financial flows, corruption, boost the economy, and increase the value of the Nigerian naira.

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New One thousand naira notes

“We will not shift any deadline,” he said. “What we have done is not against the law. It is in tandem with the law. We announced this program on October the 26th 2022. And we said that upon release of the new currency, the legal tender status will run concurrently with the old currency till 31st January 2023. That is almost 100 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.”

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