PHOTOS: Buhari Unveils New Naira Notes
President Muhammadu Buhari has introduced the newly redesigned N1,000, N500 and N200 notes to the country.
The President performed the long awaited ceremony at the State House Council Chambers on Wednesday shortly before the commencement of the Federal Executive Council (FEC) meeting.
In unveiling the redesigned notes, the President was supported by the Central Bank of Nigeria (CBN) Governor, Goodwin Emefiele, and the Minister of State for Finance, Budget and National Planning, Prince Clem Agba.
The new naira note policy has been generating controversy since it’s announcement by Emefiele, with the Minister of Finance, Budget and National Planning, Zainab Ahmed, kicking against it and saying she wasn’t even consulted.
President Buhari had however repeatedly thrown his weight behind the policy, saying that is the only way to save the naira.
Emefiele announced that President Buhari would unveil the new notes on Wednesday.
Emefiele made the announcement at the CBN Monetary Policy Committee (MPC) meeting that took place at the apex bank Abuja headquarters on Tuesday.
During the meeting, Emefiele reiterated that the new notes will become legal tender immediately they are launched today but the old notes will remain acceptable till January 31, 2023.
The apex bank boss however warned that there won’t be any extension to the January 31 2023 deadline to stop accepting the old notes as legal tender.