The Central Bank of Nigeria (CBN) is set to redesign the N200, N500 and N1000 notes for Nigerians.
The Governor, Mr. Godwin Emefiele, who announced this at a press briefing in Abuja, said the exercise would affect the highest denominations: N200, N500, N1000 notes. He said the action was taken in order to take control of the currency in circulation.
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According to him, the bulk of the nation’s currency notes were outside bank vaults and that the CBN would not allow the situation to continue. Many have expressed their hope, that the new design will help the Naira.
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