FG approves redesign of naira notes effective from December

In a press conference this afternoon, CBN governor,Godwin Emefiele has  announced the Federal government’s approval to redesign, release and circulate a new series of bank notes for the N200, N5OO and N1000 denominations, which will be effective from December 15th, 2022.

The above declaration means existing denominations in circulation must be deposited in banks before January 21st, 2023, as they will cease to be legal tender from this date.