Naira Redesign: ‘Take old banknotes to bank before January 31, 2023’ – CBN to Nigerians

Following the redesign of the Naira, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has urged Nigerians to “take their old banknotes to banks before January 31, 2023”.

Governor of the Central Bank of Nigeria, Godwin Emefiele and President Muhammadu Buhari during the official launch of the new Naira notes - ₦200, ₦500 and ₦1,000 inside the Presidential Villa, Abuja, Nigeria
Governor of the Central Bank of Nigeria, Godwin Emefiele and President Muhammadu Buhari during the official launch of the new Naira notes – ₦200, ₦500 and ₦1,000 inside the Presidential Villa, Abuja, Nigeria

The “₦200, ₦500 and ₦1,0000 banknotes” were recently redesigned and has been launched by the President of Nigeria, Muhammadu Buhari, at the Presidential Villa, Abuja.

Emefiele also urged Nigerians “to embrace the various electronic channels available for banking” in the country.

Godwin Emefiele, via the official Twitter account of the Central Bank of Nigeria (CBN), wrote: “Emefiele urges Nigerians to take their old ₦200, ₦500 and ₦1,000 banknotes to the banks January 31, 2023, deadline.


“CBN Governor, Godwin Emefiele urges Nigerians to embrace the various electronic channels available for banking and financial service transactions in Nigeria.”

The redesigned Naira notes - ₦200, ₦500 and ₦1,000 - recently launched by President Muhammadu Buhari and the Governor of the Central Bank of Nigeria (CBN) at the Presidential Villa, Abuja, Nigeria
The redesigned Naira notes – ₦200, ₦500 and ₦1,000 – recently launched by President Muhammadu Buhari and the Governor of the Central Bank of Nigeria (CBN) at the Presidential Villa, Abuja, Nigeria

The current series of ₦200, ₦500 and ₦1,000 banknotes will continue to be “legal tender” until January 31, 2023, deadline.

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