By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NewsunplugNewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Reading: ‘Unfounded Speculation’- CBN debunks reports it plans to phase out redesigned Naira Notes
Share
Notification Show More
Font ResizerAa
Font ResizerAa
NewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Search
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Have an existing account? Sign In
Follow US
Newsunplug > Blog > News > ‘Unfounded Speculation’- CBN debunks reports it plans to phase out redesigned Naira Notes
News

‘Unfounded Speculation’- CBN debunks reports it plans to phase out redesigned Naira Notes

Godson
Last updated: May 1, 2023 7:54 am
Godson
Published: May 1, 2023
Share
SHARE

The Central Bank of Nigeria has called on the public to reject reports suggesting a withdrawal of the recently redesigned Naira notes from circulation.

In a released notice, signed by the acting Director of corporate communication, Isa AbdulMumim on Sunday, April 30 the bank stated that the speculation is a ploy by some people to cause panic among members of the public.

The bank reiterated that the old and new notes have been circulating side by side as they have been taking good delivery of a good quantity of the redesigned notes from the Nigerian Security Printing and Minting company Limited.

It was also stated that the bank would remain committed to supplying the approved indent for the smooth running of the economy.

The CBN also emphasized that the redesigned and the old currency, will continue to be accepted as legal tender for transactions ahead of the December 31, 2023 deadline.

The statement read;

“We wish to state emphatically that such speculation is unfounded and a ploy by some interests to cause panic among members of the public.

“We wish to reiterate that the new and old currency notes have been circulating side by side just as the Bank has been taking delivery of a good quantity of the redesigned bank notes from the Nigerian Security Printing and Minting Company (NSPMC) Limited.

“Furthermore, we are committed to supplying the approved indent for the smooth running of the economy.

“We, therefore, urge members of the public to disregard any report suggesting a phase-out of the redesigned currency.

”For the avoidance of doubt, the redesigned and old notes will continue to be accepted as legal tender.

“They will circulate side-by-side for transactions ahead of the December 31, 2023 deadline, when the old N1000, N500 and N200 banknotes will eventually be phased out. Please be guided accordingly.”

 

You Might Also Like

Residents flee as Army shuts military camp, withdraws troops from Niger state community after killing of four soldiers and two officers
INEC Tenders Tinubu’s Biodata Form, BVAS Report For 36 States, FCT
Arrested APC Lawmaker In Bayelsa Released By Police
Harvard sues Trump over US federal funding cuts
Naira appreciates to N1,640/$ in parallel market

Quick Link

  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Share This Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • I walked down the aisle on my wedding day with masked bruises – Woman accuses her husband of domestic violence
  • Tinubu extends tenure of Customs CG
  • Real cause of Junior Pope’s death revealed
  • #BBNaija S10; ‘Dede acts like she doesn’t use the toilet’- Kuture tells Big Brother
  • Watch moment 2Face Idibia and Natasha receive parental blessings at their traditional wedding (video)

Recent Comments

No comments to show.

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Top Categories

  • Entertainment

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© 2023 Newsunplug | All Rights Reserved.
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?