The National Bank of Nigeria says the overhauling of a portion of the naira groups is in the general wellbeing of each and every resident.
The CBN lead representative, Godwin Emefiele, on Tuesday, unveiled that the N200, N500, and N1000 notes will be updated.
He said the upgraded notes will be delivered on December 15, 2022 and that the old notes will fail to be legitimate tenders on January 31, 2023.
In a proclamation delivered on its Facebook page tonight, the CBN referenced that the updating of the notes is in the general wellbeing of each and every resident.
His post peruses
”CBN demands it kept the law, fair treatment for Naira update, says practice is 12 years late.
The board of the CBN, in accordance with arrangements of segment 2(b), area 18(a), and segment 19(a)(b) of the CBN Act 2007, had appropriately looked for and acquired the endorsement of President Muhammadu Buhari recorded as a hard copy to update, produce, discharge and circle new series of N200, N500, and N1,000 banknotes.
The CBN urges Nigerians to help the money upgrade project, which is in the general revenue of each and every resident of the country. The storing of huge amounts of banknotes outside business banks’ vaults ought not be empowered by any individual who has good intentions for the country.
CBN had dawdled for a really long time, taking into account it needed to stand by 20 years to complete an upgrade. Conversely, the standard practice worldwide was for national banks to overhaul, produce and course new nearby legitimate delicate each five to eight years.”