The Central Bank of Nigeria (CBN) has begun distributing the newly redesigned Naira notes to banks in preparation for circulation from December 15, 2022.
CBN Governor Godwin Emefiele said this on Thursday during a visit to President Buhari in Daura, Katsina state.
Emefiele who said the new notes were sent to the banks on Wednesday, insisted that the timelines – in terms of December 15 for commencement and the January 31 deadline were sacrosanct.
He also disclosed that CBN may tinker with the new policy on cash withdrawal limits.
“Since the announcement of the new policy, CBN has taken more than N500 billion from the banks and have also deposited close to that number there,”
“Only yesterday, the new currency has now reached the banks and we believe that the banks will begin to distribute them to the members of the public who are their customers,” the governor stated, adding that the visit was also to assure the president of no hitches so far in the implementation process,” Emefiele stated.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: 4 yrs after completion, Kwara PHC facility inactive, rural dwellers in pains
In the middle of the night sometime in September 2019, Fatimah Ballah struggled with severe pains as she tries to...
INVESTIGATION: How Oyo State, contractors spent N1.1bn on water projects, but communities don’t have a drop
Multimillion naira water projects largely initiated by the late Abiola Ajimobi-led state government in Oyo State to benefit over 40...
INVESTIGATION: In Cross River, civil servants retire into poverty as govt looks away, squanders funds on frivolities
Thousands of civil servants in Cross River State struggle to stay alive as they are denied their gratuities and monthly...
Students suffer as contractors abandon Kano school projects after receiving over N70m
In 2019, to improve the condition of public schools in Kano State, the Federal Government disbursed millions of naira to...
SPECIAL REPORT: World Bank road projects go bad in Enugu, as state govt fails to fulfill promise
Counterpart funded road projects between the world Bank and Enugu State government have started to fail, as the state government...