President Muhammadu Buhari has unveiled the newly designed Naira notes which will replace the old notes in January.
The unveiling was done at the Council Chambers of the Presidential Villa, Abuja, shortly before the commencement of the Federal Executive Council meeting.
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele who was present during the unveiling ceremony said that the old notes would still be valid and available for use until the 31st January, 2023.
Furthermore, the CBN Governor declared that the newly designed notes can never be counterfeited, and that the CBN will henceforth redesign the notes after five or eight years.
Following the unveiling of the new notes, the CBN will intensify the monitoring process on cash withdrawals and place restrictions on the volume of cash that people can withdraw over the counter.
The CBN Governor assured Nigerians that the activities of the CBN are geared towards making Nigeria a cashless economy indeed.
