The Nigerian government releasing new naira notes designed

Nigerians people still react after government unveil the new naira notes that was redesign.

Though some people says that the new design of ₦200, ₦500,and ₦1000 naira notes while President, Muhammadu Buhari just launch it.

It was today Wednesday, 23 November that President Muhammadu Buhari tear rubber of the three new designs in Abuja.

This was the first time for the pass 19 years that the country redesign their currency notes.

The gvernoment release some of the photos of the new naira notes few weeks after Central Bank has announce that they want to change the design of money.

President Muhammadu Buhari has said that the new naira notes will improve the economy and help address financial trick.

The new ₦200, ₦500,and ₦1000 naira seem like the old currency

When government release, the new ₦200, ₦500, and ₦1000 naira notes it resemble the old one.

But to judge the physical difference the CBN only change the colour of the new notes.

How security features of the new naira notes

The government promise that they will boost the security features of the new naira to secure the money.

The government said that they will provide security features that will make it hard for those people that produce counterfeit.

How the new naira notes was produced and those that produce the new ₦200, ₦500,and ₦1000 naira notes

The CBN don’t change the photos on the new notes.

They still use the same faces of the people for the old naira note for this new one.

Because ₦200 note face was still Alhaji Sir Ahmadu Bello, dI Sarduana of Sokoto and also the first Premier of Northern Nigeria.

While the face was new on ₦500, but it was still Dr. Nnamdi Azikiwe, the first President of Federal Republic of Nigeria.

The ₦1000, was still Alhaji Aliyu Mai Bornu and Dr. Clement Isong , they was the first and second indigenous Governors of Central Bank of Nigeria.

Those that produce the new design of the naira notes

President Muhammadu Buhari has said that they will produce the new naira bank notes locally.

Mr President has said that Nigerian Security Printing and Minting (NSPM) PLC will design the new naira notes.

He also said that the new banknotes will help the Central Bank to design and implement good monetary policy objectives as well as enrich Nigeria heritage.

When the new notes will start circulated?

Though the new naira notes will start circulated from December 15, 2022.

Even the CBN has said, the new and old currencies will still being in use as they will circulation together until January 31st, 2023.

Meanwhile, other notes like ₦5, ₦10, ₦20 and ₦50 was still valid after the January 31st deadline.

It will still valid because government don’t change the design of this lower currency which was polymer notes.


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