No Plan to Section out Redesigned Naira Notes – CBN

The Central Financial institution of Nigeria (CBN) mentioned no plans to part out the redesigned Naira notes from circulation.

CBN’s Appearing Director, Company Communications Division, Isa AbdulMumin, made this identified in a press release in Abuja on Sunday.

The assertion was a response to viral information on social media that the apex financial institution was considering the withdrawal of the just lately redesigned N1,000 N500 and N200 foreign money banknotes from circulation.

“We want to emphatically state that such hypothesis is unfounded and a ploy by some pursuits to trigger panic amongst members of the general public.

“The brand new and previous foreign money notes have been circulating facet by facet.

“The CBN has been taking supply of a very good amount of the redesigned banknotes from the Nigeria Safety Printing and Minting Firm Restricted,” he mentioned.

Abdulmumin mentioned that the apex financial institution was dedicated to supplying the “permitted indent” for the graceful operating of the economic system.

“We, subsequently, urge members of the general public to ignore any report suggesting a phase-out of the redesigned foreign money.

“For the avoidance of doubt, the redesigned and previous notes will proceed to be accepted as authorized tender.

“They are going to flow into side-by-side for transactions forward of the Dec. 31 deadline, when the previous N1,000, N500 and N200 banknotes will ultimately be phased out,” he mentioned.