Finance

Buhari to unveil redesigned naira notes at FEC meeting today 

Buhari To Unveil Redesigned Naira Notes At FEC Meeting today

The Central Bank of Nigeria (CBN) has disclosed that the redesigned bank notes will be unveiled by President Muhammadu Buhari on Wednesday, November 23, 2022.

The CBN had announced on October 26, 2022 that it will issue the redesigned N200, N500, and N1,000 notes, effective December 15, 2022, while the new and existing currencies will remain legal tender and circulate together until January 31, 2023.

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In a new twist on Tuesday, CBN Governor, Godwin Emefiele, told journalists that the new notes will now be unveiled for public usage on Wednesday.

He made the disclosure in Abuja on the sidelines of the Monetary Policy Committee (MPC) meeting.

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Emefiele said the apex won’t shift its deadline for all old notes to be returned to commercial banks in exchange for the newly designed ones.

The CBN MPC also hiked monetary policy to 16.5% from 15.5% while all other parameters remained unchanged.

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