Business
CBN To Release New Re-Designed Naira Note By December 15
Agency Report
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has disclosed the apex bank’s plan to release re-designed Naira notes by December 15, 2022.
According to him, the old naira notes would cease to be legal tender from January 31, 2023.
Tracknews gathered that the CBN governor announced the development at a media briefing in Abuja on Wednesday.
Emefiele expressed worry about the fact that 85 per cent of the currency in circulation is being hoarded by Nigerians.
He however appealed to Nigerians to proceed to their banks to deposit their Naira notes, adding that the deposit fee would be waived for transactions below N150,000.
He also said the redesigning of Naira notes would help to curb counterfeit notes, as well as hamper ramson payment to terrorists and kidnappers.
Details later…
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