Elizabeth O.
CBN i set to redesign N200, N500 And N1,000 Notes
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.
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.
The Central Bank of Nigeria is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959.
