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Buhari Unveils New Naira Notes

- Hopes for reduction in inflationary pressure

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Buhari unveils Naira

By Ishaq Dan-Imam

President Muhammadu Buhari has unveiled redesigned notes for the highest denominations of Nigeria’s currency.

He performed the brief event on Wednesday at the Council Chambers of the Presidential Villa, Abuja, shortly before the commencement of this week’s cabinet meeting.

The new notes presented to the public are 1000, 500, and 200 naira notes.

Present at the ceremony were the Secretary to the Government of the Federation, Boss Mustapha, Chief of Staff to the President, Prof. Ibrahim Gambari, and Head of Civil Service of the Federation, Dr. Folashade Yemi-Esan.

Others were Ministers and the Governor of the Central Bank of Nigeria, (CBN) Godwin Emefiele.

In his brief remarks, the CBN Governor said the introduction of new notes was a deliberate step by the government to check corruption and counterfeiting of the notes.

However, the naira notes currently in use will remain as legal tenders until 31st January 2023.

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