More new notes to be in circulation soon ? CBN

The Central Bank of Nigeria has assured Nigerians that more newly redesigned banknotes will be in circulation soon.

The CBN said in a statement on Sunday, April 30, that they are “taking delivery of a good quantity of the redesigned bank notes from the Nigerian Security Printing and Minting Company (NSPMC) Limited”.

The apex bank’s Ag. Director of Corporate Communications, Isa AbdulMumim PhD, also denied allegations that the redesigned banknotes were to be phased out, adding that the claim is “a fake news item circulating in the media, particularly in the social media space”.

He said; 

“The redesigned and old notes will continue to be accepted as legal tender. They will circulate side-by-side for transactions ahead of the December 31, 2023 deadline, when the old N1,000, N500 and N200 banknotes will eventually be phased out”.