The Central Bank of Nigeria has stated that in its quest to reduce the extreme hoarding of naira notes outside the banking system it is set to introduce newly redesigned naira notes for N200, N500 and N1000.

The Governor of the Central Bank, Godwin Emefiele disclosed this at a press briefing in Abuja Wednesday.

The CBN said that it is worrisome that 85 per cent of the currency in circulation is being hoarded by Nigerians.


The last time the bank redesigned the naira was in 2014 when it changed the design of the 100 naira note to commemorate Nigeria’s centenary.

Read More: https://technomymagazine.com/2022/10/26/cbn-to-unleash-redesigned-naira-notes-december/