President Muhammadu Buhari has unveiled the new currency notes today 23rd November, 2022 before the Federal Executive Council (FEC) meeting at the state house, Abuja.
The country’s highest currency denomination N1000, N500 and N200 notes were redesigned and presented to the public .
Speaking during unveiling, the President underscored the importance of redesigning the naira notes, saying it will help the country to address the issue of illicit financial flows, corruption, improve the economy and the value of the Nigerian currency.
In attendance was Godwin Emefiele, governor of the Central Bank of Nigeria, CBN, Boss Mustapha, secretary to the government of the federation, Ibrahim Gambari, chief of staff to the president, and Folashade Yemi-Esan, head of civil service of the federation.
The President noted that the currency redesign will also help the CBN’s monetary policy initiative.
Buhari said the first set of the currency, which was printed locally by the Nigeria Printing and Minting Company, will prevent counterfeiting of the notes.
Story: Elizabeth Ereke