The Central Bank of Nigeria, CBN has issued a statement pleading for the new naira notes to be accepted and utilized in light of reports that many Nigerians have refused to do so.

A lot of Nigerians have questioned the central bank’s “redesign” of the nation’s local currency in an effort to stop counterfeiting and large-scale money hoarding outside of the banking sector.

Given how similar the new banknotes are to the old ones, some people are not impressed and dismiss the supposed redesign as little more than a color change, others have completely failed to accept and use the new notes.

The new notes reflect the ones that are already in use quite a bit.

The Central Bank of Nigeria’s headquarters and the nation’s coat of arms are still prominently displayed on the highest-value, the 1,000 naira note’s design.

The color has changed from a primarily brown underprint to blue, which is the only discernible difference.

In a message posted on their official twitter page, CBN charged Nigerians to accept the new naira notes, spend them and also handle them with care.

The message reads;

“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 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. pic.twitter.com/z2U97g5KrM

— Central Bank of Nigeria (@cenbank) December 26, 2022

The CBN has further stated that it is making every effort to educate Nigerians about the new notes.

The arrival of the new banknotes, according to Central Bank Governor Godwin Emefiele, is projected to assist in the fight against corruption and the regulation of inflation, which recently reached its highest point in 17 years.

 

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