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President Buhari To Unveil New Naira Notes Wednesday – CBN Governor

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The Governor of Central Bank of Nigeria (CBN) Mr Godwin Emefiele, revealed that President Muhammadu Buhari will unveil the newly redesigned naira notes tomorrow Wednesday, November 23, 2022. Emefiele, announced said this on Tuesday while fielding questions from journalist at the monetary policy committee (MPC) meeting in Abuja. Recall that Emefiele had announced in October that the apex bank would issue redesigned N200, N500, and N1,000 notes, effective December 15, 2022. However, he has disclosed that CBN won’t wait till December anymore for the unveiling of the new notes.

“The question that has been raised is that are we going to shift the deadline? The answer remains no, capital no. We will not shift any deadline. 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,” he said.

“For information, indeed, we are no longer waiting till December 15 to begin to unveil and begin to release the new notes. By the special grace of God tomorrow, which is the 23rd of November 2022, the President has graciously accepted to unveil the new currencies and the new currencies will be unveiled tomorrow at the federal executive chambers by 10am.

He noted that the deadline for returning the old Naira notes to commercial banks in exchange for newly designed ones would not be shifted.