Skip to main content

Nigerians, Behold Your New Redesigned Naira Notes

Today, Wednesday morning, the N200, N500 and N1,000 denomination of the redesigned naira notes was unveiled.

President Muhammadu Buhari unveiled the new currency notes on Wednesday morning before the federal executive council (FEC) meeting at the state house, Abuja.

"The naira notes are long overdue for a change as the current tender has been in circulation for nearly 20 years," the President said.

"A cycle of banknote redesign is generally aimed at achieving specific objectives, including but not limited to: improving the security of banknotes, mitigating counterfeiting, preserving the collective national heritage, controlling currency in circulation, and reducing the overall cost of currency management,” he said.

He added that “the new Naira banknotes have been fortified with security features that make them difficult to counterfeit.’’

‘‘There was an urgent need to take control of currency in circulation and to address the hoarding of Naira banknotes outside the banking system, the shortage of clean and fit banknotes in circulation, and the increase in counterfeiting of high-denomination Naira banknotes.

“It is on this basis that I gave my approval for the redesign of the ₦‎200, ₦‎500 and ₦‎1000 banknotes,” Buhari said.

Comments

Post a Comment

Type your comments here

Popular posts from this blog

Na wa!

Na Wa is a Nigerian Statement Which Means Beyond Words!  Video - Uproar! Man Breaks, Vandalises Range Rover Of A Lady Says He Caught Her Cheating.  In  the video the man can be heard saying that he bought her the car. The lady inturn, storms out of a building and trys to confront the man for messing up her car. Watch video: Another video below; The video above and below has definitely gone viral.  Wow!
Post a Comment
Read more

Asiwaju Bola Ahmed Tinubu, Wins Big In Governor Nyesom Wike's Local Government Area

The presidential candidate of the All Progressives Congress (APC) Asiwaju Ahmed Bola Tinubu, has won the Obio-Akpor, the Local Government Area of Governor Nyesom Wike in Rivers State by a landslide. Tinubu polled 80,239 votes to defeat the Candidate of the Labour Party (LP), Peter Obi, who came a distant second with 3,829 and the People’s Democratic Party (PDP), who got 368 votes.
Post a Comment
Read more

23 children and 54 Others Camped In A Church, In Ondo State, Rescued By The Police

The Ondo State Police Command said a total of 77 people were found locked in the basement of a church; Whole Bible Deliverance Church located at Valentino Area of Ondo town, Ondo State, reports the Punch News. The police said that the victims comprised 23 kids and 54 others including teenagers and adults, males and females. It was alleged that the victims were kidnapped and kept in the underground apartment of the church for over six months before they were rescued. The church’s pastor and some other members are currently in the custody of the command while the police had begun investigation into the matter In a one-minute, 40 seconds video, a voice was heard saying, “There are kidnapped children found in the underground cell of a church in Valentino Area of Ondo. The pastor and some members of the church have been arrested and were also in the police patrol van.’’ One of the parents of the rescued victims, Mr Michael Olorunyomi, said that he left the church because of alleged wrong Bi...
Post a Comment
Read more