President Muhammadu Buhari is expected to launch the newly redesigned ₦200, ₦500, and ₦1,000 notes on Wednesday, November 23, 2022.
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele made this known during the apex bank’s Monetary Policy Committee monthly meeting in Abuja on Tuesday.
Recall that the CBN Governor, had on October 26, 2022, said the apex bank will issue redesigned ₦200, ₦500, and ₦1,000 notes, effective December 15, 2022, while the new and existing currencies will remain legal tender and circulate together until January 31, 2023.
However, a change in the decision was made on Tuesday when Emefiele said the CBN won’t wait till December 15 anymore as the President will unveil the new notes on Wednesday.
He also said the CBN would not shift its deadline for all old notes to be returned to commercial banks in exchange for newly designed ones.
Emefiele noted that 100 days is enough for any person from any part of Nigeria to deposit his money in the bank and get his money when the new notes are released.