CBN Sets To Redesign N200, N500 And N1000 Notes

 The Central Bank of Nigerian (CBN), has disclosed that it will redesign N200, N500 and N1000 Notes 

The Governor of the Central Bank of Nigerian (CBN), Godwin Emefiele on October 26, 2022 revealed this while giving a press conference in Abuja. The new design will be effective from December 15, 2022

Godwin Emefiele statement reads:  “In line with the provisions of Sections 2(b), Section 18(a) and Section 19, Seb section(a) and (b) (2007), the management of the CBN has sought and obtained the approval of President Muhammadu Buhari to redesign, produce, release and circulate new series of banknotes at N200, N500 and N1,00 levels

“In line with this approval, we have finalised arrangements for the new currency to begin circulation from December 15, 2022 after its launch by President Buhari

“The new and existing currencies shall remain legal tender and circulate together until January 31, 2023 when the existing currencies shall cease to be a legal tender