The governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on Wednesday the 26th of October during a press briefing said that the Central Bank of Nigeria would release re-designed naira notes by December 15 2022.
He added that the current naira notes (200, 500 and 1000 Notes) would cease to become legal tender by January 31st 2023. He urged all Nigerians to proceed to the bank to deposit their current naira notes as banks would waived deposit fees for transactions below 150.000 naira.
Emefiele further said, that this becomes necessary inorder to help stop the use of counterfeit naira notes and the use of naira for ransom by terrorists and kidnappers.
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