The newly redesigned Naira notes will be unveiled by Nigeria’s President Muhammadu Buhari at the Aso Villa today Wednesday 23, 2022.
This disclosure was made by the Governor of the Central Bank, Mr. Godwin Emefiele on Tuesday.
Nigeria’s apex bank, the Central Bank of Nigeria, had a few weeks ago, announced that it was embarking on the redesigning of a few denominations of the national currency and gave a six-week window within which exchange of the old designs with the new version must be concluded. The window was scheduled to begin on December 15, 2022 and end on January 31,2023.
However on Tuesday at a press briefing,the Governor of the Central Bank while stressing that the deadline of January 31, 2022 will not be changed, revealed that “the President has graciously accepted to unveil the new notes tomorrow at the Federal Executive Council meeting at 10.00 am.”
“The question that has been raised is that are we going to shift the deadline. The answer remains no, capital NO!. We will not shift any deadline”, Emefiele emphasised.
“What we have done is not against the law. It is in tandem with the law. We announced this programme on October 26th,2022 and we said that upon release of this currency, that the legal tender status will run concurrently with the old currency till 31st January,2023. That is almost 100 days. 100 days is enough for any person from any part of Nigeria to deposit his money in the bank and get ready to withdraw cash when the new notes are released.
“For your information, indeed we are no longer waiting till December 15th to begin to unveil and release the new notes. By the special grace of God, tomorrow which is the 23rd of November, 2022 the President has graciously accepted to unveil the new currencies and the new currencies will be unveiled tomorrow at the Federal Executive chambers at 10am tomorrow morning.”
Meanwhile, last week a number of leading Money Deposit Banks in the country including GTBank, Access Bank and United Bank of Africa announced slight modification in their hours of service. They have now offered to open their doors for service on Saturdays for an average of about 4 hours. This is all in a bid to accommodate the expected huge deposit of cash which is expected during the period of exchange / withdrawal of the old currency.
previous post
next post