Starting from December 15, Nigerians will have in their hands redesigned naira notes.
The Central Bank of Nigeria (CBN) announced its decision to redesign the 200, 500 and 1000 notes.
The governor of the apex bank Governor, Godwin Emefiele urged Nigerians to begin paying into their bank accounts the existing currency to enable them to withdraw the new banknotes once circulation begins.
He explained that the decision was because the “CBN has recorded a high rate of counterfeiting especially with the higher denominations of N500 and N1,000 banknotes.”
