Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has disclosed that the new naira notes will now be introduced tomorrow, Wednesday, November 23, as opposed to the earlier date of December 15, 2022.
Emefiele disclosed this during the apex bank’s Monetary Policy Committee monthly meeting in Abuja on Tuesday.
Emefiele expects that by January 31, all current N200, N500 and N1000 denominations will be successfully phased out.
According to him, the CBN won’t move its deadline for all old notes to be returned to commercial banks in exchange for new notes.
Emefiele had on October 26, 2022, said the apex bank will issue redesigned N200, N500, and N1,000 notes, effective December 15, 2022, while the new and existing currencies will remain legal tender and circulate together until January 31, 2023.
However, he made a U-turn on Tuesday, saying the CBN won’t wait till December 15 anymore as the President will unveil the new notes on Wednesday.
The bank chief said, “100 days is enough for any person from any part of Nigeria to deposit his money in the bank and get his money when the new notes are released.
“For information, indeed, we are no longer waiting till December 15 to unveil and begin to release the new notes.
“By the special grace of God, tomorrow, which is November 23 2022, the President has graciously accepted to unveil the new currencies, and the new currencies will be unveiled tomorrow at the Federal Executive Chamber by 10 am.”