The Central Bank of Nigeria CBN redesigned naira notes will go into the circulation as at today Thursday, 15th December 2022, as commercial banks and other deposit money banks under the supervision of CBN are to commence the release of the bills to their customers for across the counter payments.
Recall, president Muhammadu Buhari had recently unveiled the redesigned N200, N500, and N1,000 denominations new bills at a weekly Federal Executive Council meeting in Aso Rock Villa.
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), had in October announced that the Apex bank would release re-designed naira notes by December 15, 2022 and that the old notes would cease to be regarded as legal tender by January 31, 2023.
Emefiele pointed out that the redesigning of the naira notes would help to curb counterfeit notes, and reduce ransom payments to terrorists and kidnappers.
Top officials of commercial banks confirmed to Punch on Wednesday that they had received the new notes from the CBN a couple of days ago, adding that the redesigned currency would be released to their customers effective Thursday.
“We got the funds (new notes) about two days ago. Our head office has dispatched the funds to various area offices across the country. My branch will pick up our allocation at a nearby area office. We will start releasing the new notes to our customers by Thursday,” according to a top official of a commercial bank who spoke to one of our correspondents on condition of anonymity on Wednesday because he was not authorised to speak on the matter.
Multiple banking sources also said the new notes had arrived and were being kept in their vaults. That the new notes would be paid to customers in banking halls beginning from Thursday.