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CBN rolls out sensitisation on new naira notes

  • Business

The Central Bank of Nigeria has commenced sensitisation on newly redesigned naira notes, urging Nigerians to “accept, spend and handle them with care.”

Posting a sensitisation video on its official twitter page on Wednesday, the CBN “the redesigned series of 200, 500, and 1000 Naira bank notes are now in use; let us accept them, spend them and handle them with care.”

The apex bank in the short video further said “the new notes come with enhanced security features and greater durability to prevent counterfeiting,” while encouraging Nigerians to transact with them carefully.

The newly-recoloured N1,000, N500 and N200 bills became legal tender on December 15. Yet, some traders still find it hard to accept them.

Old notes would cease to be legal tender by January 31, 2023, according to the CBN.

In October, CBN Governor Godwin Emefiele announced plans to redesign the denominated notes, alleging that over 80 per cent of the notes in circulation are outside bank vaults and are being hoarded for illegal and criminal businesses.