President Muhammadu Buhari has finally unveiled the new N200, N500, and N1000 naira notes in Abuja
The new Naira notes were presented precisely 28 days after the governor of the Central Bank of Nigeria announced the decision.
The CBN has also decided to change the date on which the Naira notes will enter circulation and become the new legal tender
Finally, after 28 days, President Muhammadu Buhari officially unveiled the new N200, N500 and N1000 Naira notes.
The Central Bank of Nigeria had, in October 2022, announced the decision to produce new notes to help fight inflation.
At the launch of the new Naira notes, President Buhari praised CBN governor Godwin Emefiele for the Naira notes policy.
Details of the new Naira notes
The N1000 Naira notes
The 1000 Naira banknote is the highest-value paper money note in Nigeria. On the obverse side of the N1000 bill are the portraits of Mallam Alijy Mai-Bornu and Dr Clement Nyong Isong.
Both men are governors: the former of the Central Bank of Nigeria and the latter of Cross River State, South Nigeria.
The five hundred Naira Nigerian note is a denomination of Nigerian currency. It was introduced in April 2001, and it was the highest currency in Nigeria when it was introduced.
The obverse of the note features a portrait of Nnamdi Azikiwe. The reverse features an off-shore oil rig
No changes were made also to the image on the N200 notes, which features Ahmadu Ibrahim Bello, Sardauna of Sokoto, Northern Nigeria’s Premier.
It is expected that printing of the new Naira notes will cost billions.
Nigerian banks announce new working days, closing time Meanwhile, Nigerian banks have announced changes to their operating hours in order to assist Nigerians holding soon-to-expire Naira currencies
The banks have already announced that they have delivered notifications of their working hours via their social media channels and customers’ emails
Details of the contents of their emails and changes were captured