Jubilation as CBN is set to redesign N200, N500 And N1,000 Notes

The Central Bank of Nigeria on Wednesday has announced its decision to redesign the Naira.

The Governor,  Mr. Godwin Emefiele, who  announced this at a press briefing in Abuja, said the exercise would affect the highest denominations: N200, N500, N1000 notes. He said the action was taken in order to take control of the currency in circulation.

According to him, the bulk of the nation’s currency notes were outside bank vaults and that the CBN would  not allow the situation to continue.

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