••• SAYS NO NEED TO WAIT FOR DECEMBER 15
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said that the redesigned N1,000, N500 and N200 denominations of the Naira would be ready, and would be unveiled by President Buhari on Wednesday.
Emefiele spoke at the CBN’s monthly Monetary Policy Committee in Abuja on Tuesday.
The CBN Governor had earlier told Nigerians that the redesigned Naira notes would be ready to be issued on December 15, 2022.
He also said that the new and the old Naira notes would be used as legal tenders till January 2023 when the existing ones would seize to function.
But in a sharp contrast to his earlier position and the expectations of Nigerians, Emefiele said that he will not wait for December 15, 2022 anymore as the President will unveil the redesigned notes tomorrow.
It is his contention that 100 days period of grace is enough for anybody to change his money to the newly designed notes.
“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 Dec.15 to unveil and begin to release the new notes.
“By the special grace of God, tomorrow, which is Nov. 23, the President has graciously accepted to unveil the new currencies and the new currencies will be unveiled tomorrow at the Federal Executive Chamber by 10am.” He said
The apex bank also hiked monetary policy from N15.5 percent to 165% while all other parameters are retained.
