TOP STORY: cenbank redesigns naira notes, to begin circulation Dec 15 | TheCable
Godwin Emefiele, CBN governor, said this at a press conference on Wednesday.According to Emefiele, the new notes include N200, N500 and N1000.He advised Nigerians to take old notes to banks to enable them withdraw the new banknotes once circulation begins.
He said 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. “In recent years, the CBN has recorded significantly higher rates of counterfeiting especially at the higher denominations of N500 and N1,000 banknotes,” Emefiele said.
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