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By Mohammed Nasir Shuaibu (Bauchi State Correspondent)

Residents of Bauchi State have expressed divergent views on the extension of the deadline for the validity of old Naira notes in business transactions nationwide.

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By Jvinn Okafor (Managing Editor/Head Economy Desk)

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, on Sunday, gave explanations on why the apex bank shifted the deadline for exchange of old Naira currencies with Money Deposit Banks from Tuesday January 31, to Friday February 10, 2023. Emefiele in a statement on Sunday January 29, 2023, said after holding a brief consultation with President Muhammadu Buhari to provide him with updates about the on-going implementation status of the CBN currency redesign program,it was resolved that a little window should be created to enable more Nigerians return the banks all legitimate old notes still in their possession.

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The Nigerian Financial Intelligence Unit (NFIU) has said that its ban on cash withdrawals for all federal and state accounts is to help governors and not to fight them.

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The Nigerian Security Printing and Minting (NSPM) Plc also called MINT, Friday, explained why the new Naira notes leave ink when rubbed on plain white surfaces while stressing that best international best practice was followed in their production.

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Nigeria's Central Bank has released details of the new naira notes and their security features.

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  • * Security Agencies To Monitor Cash Withdrawal Across Bank Counters
  • New Notes To Begin Circulation Ahead Of December 15 Earlier Date

  • Naira To Be Redesigned, Re-issued Every Five To Eighth Years Henceforth, Says CBN Gov, Emefiele

By Celestine Okafor (Editor-in-Chief) @CelestineOkaf11

The much awaited new naira notes of N200, N500 and N1,000 were formally unveiled on Wednesday, December 23, 2022, at the Council Chamber of the Presidential Villa, Abuja, by President Muhammadu Buhari. The president publicly presented the new notes during the weekly Federal Executive Council (FEC), meeting which he presided over.

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