The Central Bank of Nigeria (CBN) has announced the launch of new naira notes of N200, N500 and N1,000 before the end of the year.
The newly redesigned Naira notes are to come into use, on December 15, 2022.
The CBN Governor Godwin Emefiele disclosed this at a press conference on Wednesday.
The Apex bank boss revealed that the new currencies will include the N200, N500 and N1000 notes.
He advised Nigerians to take their old notes to banks in exchange for new ones.
Meanwhile, CBN will in the next 100 days mop up N3.23 trillion from circulation to tackle rising inflation.
CBN Governor Godwin Emefiele disclosed this during a special briefing in Abuja.
He said that of the N3.23 trillion cash in circulation as of September 2022, N2.73 trillion is outside the vault of banks.
Emefiele said both the funds within and outside the banking system will be mopped up from today till January 31, 2023, to the CBN’s vault to control rising inflation.”
