₦airaland Forum

Barring any last minute change of plan, the unveiling of the new notes will precede the weekly cabinet meeting at the State House in Abuja.

President Muhammadu Buhari is to formally unveil the new naira notes on Wednesday, except the president changes his plan in the coming hours, PREMIUM TIMES understands.

The Central Bank of Nigeria had on October 26 announced its plan to redesign all major naira notes. It gave December 15, 2022 as the date to start circulating the new notes.

PREMIUM TIMES has learnt that the unveiling of the new notes will precede the weekly cabinet meeting at the State House in Abuja.

The central bank said it would redesign naira notes to have control of the amount of currency in circulation, and to enable it manage inflation and tackle counterfeiting.

“These challenges primarily include: Significant hoarding of banknotes by members of the public, with statistics showing that over 85 percent of currency in circulation are outside the vaults of commercial banks,” CBN governor Godwin Emefiele had said.

“To be more specific, as at the end of September 2022, available data at the CBN indicate that N2.73 Trillion out of the N3.23 trillion currency in circulation, was outside the vaults of Commercial Banks across the country; and supposedly held by the public.

“Evidently, currency in circulation has more than doubled since 2015; rising from N1.46 trillion in December 2015 to N3.23 trillion in September 2022. This is a worrisome trend that cannot be allowed to continue.”

Responding to concerns about Nigerians in the rural areas especially as the timeframe for submission of the old note is short, the bank said it has made provision for easy exchange.

The bank said it is working with relevant agencies in the financial system in its execution, particularly in ensuring that vulnerable citizens are not at disadvantage.

“Whilst noting the progressive increase in financial access points and alternative banking channels over the years (electronic/internet banking, mobile apps, ATM, Cards/PoS, eNaira, agent banking, etc.), the Bank acknowledges that these may not be evenly distributed across all geopolitical zones and in some rural areas.

“In operationalizing this initiative, the CBN has been collaborating with relevant agencies and other stakeholders in the financial system in its execution, particularly ensuring that vulnerable citizens are not disenfranchised” a statement by the bank said on November 11.

https://www.premiumtimesng.com/news/top-news/566743-buhari-to-unveil-new-naira-notes-wednesday.html

Show us so that we can make counterfeit ones

Hope it will not come with another attendant economic disaster as it happened in 1984?

Wednesday is almost here

Great development

New money
It’s like bubu put his face on this money

This is a BLABUUBOOBLAAA mehn!

I commend Major General M. Buhari (rtd) Preparing everything for Mr. Peter Obi to take over.

I hear say single N10 000 and N5000 notes go dey among, shey na true?

Many people will make mad money for Christmas from printing fake naira notes.

You cannot separate evil from Nigerians because Nigeria is a seamless reflection of the devil.

This will happen for a while until Nigerians are able to identify counterfeits.

PS: This is likely going to be the best policy from Emefiele.

Awesome!!

Good

ok

Super

That should be the new Nigeria wife, unveiling the veil

We are earnestly waiting to see her new face.

Guess what she will look like!

Nothing special

The new naira notes shall favor us amen

Buhari doesn’t care about Tinubu.

Beautiful

The central bank said it would redesign naira notes to have control of the amount of currency in circulation, and to enable it manage inflation and tackle counterfeiting.

GOD BLESS NIGERIA .

A better and prosperous Nigeria all around is all we want at [b][/b].

Folawealth090:
Yes can't wait for the horders to be exposed pull there trousers down buhari let's do this

We are seeing them coming out already.
Seeing our currency being brought out by kidnappers, criminals and looting politicians where they have been buried for years.
Bunch of wicked criminals they all are.

Petersamuel8:
Good development, Nigeria shall be great

Amen in Jesus name.
Insha Allah.

God bless your parents for giving us a King like you.
God bless you.

ican2020:
Nothing special

Na dem dem

We dey wait

Is this our problem? The economy is in comatose he's bothered about the face of the naira. Does the new face adds value to it?

How much has he looted already.....?

[img]https://giffiles./217/217546.gif[/img]

Baba no change him mind sha


General Buhari don cut people ticket as Saudi take cut Argentina ticket


.

Ok

This new currency will most likely affect Peter Pandora Obituary
250m he laundered to Lagos through his driver may still be in underground