CBN Releases New Naira Notes

The newly redesigned 200, 500 and 1000 naira denominations will today go into circulation with Deposit Money Banks releasing the bills to customers via over-the-counter payments.

Governor of Central Bank of Nigeria, Mr. Godwin Emefiele, had in October announced this date, reiterating that the old notes will cease to be regarded as legal tender by the end of January.

Mr. Emefiele pointed out that the move will curb counterfeit notes, and reduce ransom payments to terrorists and kidnappers.