Banking $ FinanceBusiness BellsNews

See The New Looks As Buhari Unveils Re-Designed Naira Notes [PHOTOS]

Kindly share this story:

President Muhammadu Buhari today finally unveiled the re-designed Naira Notes as proposed by the Central Bank of Nigeria (CBN).


The CBN Governor, Mr Godwin Emefiele had yesterday said that the president will unveil the newly designed N1,000, N500 and N200 notes.


The unveiling today marks the first time in 19 years, Nigeria will be redesigning its currency notes.


At a briefing after the ceremony before the Federal Executive Council meeting, the CBN governor debunked insinuations suggesting that the early unveiling of the new notes is a means to target some Nigerians.

See The New Looks As Buhari Unveils Re-Designed Naira Notes [PHOTOS]

Mr Emefiele appealed to members of the public, urging them to desist from making such speculation, adding that there is no need to perpetuate any such information.


According to him, the CBN will intensify the monitoring process and interrogate the process of withdrawals.


Emefiele maintained that there will be heavy restrictions on the volume of cash that people can withdraw over the counter, as it works with the Economic and Financial Crimes Commission (EFCC) to monitor the purpose of any heavy transactions.

See The New Looks As Buhari Unveils Re-Designed Naira Notes [PHOTOS]

The redesigned currency note he asserts can never be counterfeited, adding that to forestall such occurrence, the CBN will redesign the notes after every five to eight years.

redesigned naira notes2

Following the unveiling of the new notes which begins circulation today, the CBN governor announced that the apex bank is now more determined to make Nigeria a cashless economy, as in other climes.


During the ceremony which was held before the council meeting, President Buhari underscored the importance of re-designing the new naira notes.

redesigned naira notes

He explained that it will aid the country in addressing the issue of Illicit financial flows, and corruption, improve the nation’s economy, as well as ensure advancement in the value of the naira.


Noting that the currency redesign will also boost the CBN’s Monetary policy initiative, President Buhari stated that the first set of currency which was printed locally by the Nigeria printing and minting company will fundamentally prevent counterfeiting of the naira notes.

redesigned naira notes1

The president, however, appealed to Nigerians and urged them to embrace the new policy to re-design the naira.

Kindly share this story:

Copyright ©The Daily Bells.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from The DAILY BELLS.


Want To Receive Daily Alerts on WhatsApp? 

HELLO! Do you have any NEWS you will like to share with The Daily Bells?  
Contact us today for your  Press Releases, Opinions, Others.

SMS: +2348060176677, WhatsApp: +2348025237926, Email: