The long-talked-about redesign of the naira notes has finally been unveiled after President Muhammed Buhari, on the 23rd of November, 2022.
The President, Major General Muhammadu Buhari, unveiled the new naira notes during the weekly Federal Executive Council at the Presidential Villa on Wednesday.
He also said the new notes would go into circulation before the earlier December 15, 2022 date stated by the central bank.
The announcement was given at a press briefing held after the Monetary Policy Committee meeting in Abuja.
Meanwhile, the Director of Information Technology at the CBN, said that about 36 million Nigerians currently had zero access to financial services.
He noted that the currency redesign will also help the CBN’s monetary policy initiative.
The first set of the currency, which was printed locally by the Nigeria Printing and Minting Company, will prevent counterfeiting of the notes. He, however, appealed to Nigerians to embrace the new policy to redesign the naira.
On his part, Emefiele said the introduction of new notes was a deliberate step by the government to check corruption and counterfeiting of the notes.