President Muhammadu Buhari has unveiled the new currency notes on Wednesday morning before the federal executive council (FEC) meeting at the state house, Abuja.
The CBN governor, Godwin Emefiele who was in attendance at the unveiling and briefing debunked insinuations that the early unveiling of new notes is a means to target any Nigerian.
He appealed to members of the public that there is no need to perpetuate any such information.
Keynotes by the CBN governor
- The circulation of the redesigned notes begins today being November 23, 2022.
- The redesigned currency note can never be counterfeited, because the CBN redesigns the notes after every five to eight years as a means to forestall such occurrence.
- The CBN will intensify the monitoring process and interrogate the process of withdrawals.
- There will be heavy restriction on the volume of cash that people can withdraw over the counter, as it works with the EFCC to monitor the purpose of any heavy transactions.