We Have No Plans Of Withdrawing New Naira Notes From Circulation - CBN
Faith Ukanwa
May 01, 2023
We Have No Plans Of Withdrawing New Naira Notes From Circulation - CBN
The Central Bank of Nigeria (CBN), has said that it has no plans of withdrawing the new naira notes from circulation as being alleged.
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The rebuttal was contained in a statement signed by Isa AbdulMumin, Acting Director, Corporate Communications, CBN.
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The statement read in parts;
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"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 Limited.
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"Furthermore, we are committed to supplying the approved indent for the smooth running of the economy.
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"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.
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"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.ÔÇØ
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— Faith Ukanwa