The Central Bank of Nigeria (CBN) is set to redesign the N200, N500, N1000 notes as requested by the Federal Government.
CBN Governor, Godwin Emefiele during a special briefing on Wednesday, disclosed that plans were afoot to unveil new redenominated naira notes by December 15 this year, asking depositors to hit the banks to exchange their old currencies for the new ones before the January 31, 2023 expiration date.
He added that the move was also to retrieve huge funds outside the banks.
More details soon…