Following the information provided by the CBN Governor, Mr. Godwin Emefiele on Tuesday that the President, Muhammadu Buhari would on Wednesday, 23rd November 2023 unveil the new look of the Nigerian currency.
The President, during the ceremony held before the council meeting, mentioned that the unveiled notes, whose circulation begins today, would not only improve both value of the currency and the nation’s economy but would also help the country deal with the issue of Illicit financial flows and corruption.
The newly designed N1,000, N500, and N200 mark the first time in 19 years Nigeria will be redesigning its currency notes and as such cannot be counterfeited he noted, especially being the first to be locally printed by the Nigeria printing and minting company.
Emefiele also asserts that the notes can never be counterfeited, and to prevent such from happening, the CBN will redesign the notes after every five to eight years. He added
However, he maintained that there is a limit to the cash people can withdraw over the counter with the monitoring eyes of the Economic and Financial Crimes Commission (EFCC) for any heavy transactions
The naira notes which came in different colors have now sparked many reactions. Senator Shehu Sani lampooned the CBN saying, it could have engaged the service of Snapchat if redesigning is by color.
“If it’s Naira color, the CBN should have just engaged Snapchat.”
Check Eric says, ” Na people wey Dey do organic cream do this new naira notes”
Frontend _Dev said, “The new naira notes color speak of the value
200 (red) value is #10
500 (green) value is #20
1000 (blue) value is #50
so we understand the message CBN is passing”
Gabby Gab said, “What a lack of vision, money wasted to print these new notes. Old currency is far better than new ones. I hope to say dem no embezzled money to tell us that day print dis new ones.”
President Muhammadu Buhari however, appealed to Nigerians to embrace the new policy.
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