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

Breaking! Nigerians, Meet Your Ministers, And Their Portfolios

The newly appointed ministers were administered portfolios by President Bola Ahmed Tinubu. Please see the list of Ministers and their portfolios below: LIST: Minister of Communications, Innovation and Digital Economy, Bosun Tijani Minister of State, Environment and Ecological Management, Ishak Salaco  Minister of Finance and Coordinating Minister of the Economy Wale Edun Minister of Marine and Blue Economy, Bunmi Tunji Minister of Power, Adedayo Adelabu Minister of State, Health and Social Welfare, Tunisia Alausa Minister of Solid Minerals Development, Dele Alake Minister of Tourism, Lola Ade-John Minister of Transportation, Adegboyega Oyetola Minister of Industry, Trade and Investment, Doris Anite Minister of Innovation Science and Technology, Uche Nnaji Minister of State, Labour and Employment, Nkiruka Onyejeocha Minister of Women Affairs, Uju Kennedy Minister of Works, David Umahi Minister of Aviation and Aerospace Development, Festus Keyamo Minister of Youth, Abubakar Momoh Min...

So Sad! A Shooter Murdered Three Children And Three Adults At Elementary School In Nashville, Tennessee

In the United States city of Nashville, Tennessee, three children and three adults have been killed at a Covenant School, a private Christian school for students aged three to eleven.                                         Image Credit: The Guardian  An ex-student of the school opened fire, in an attack which saw six people dying. The three pupils who died were all aged nine. The child victims have been named as Evelyn Dieckhaus, Hallie Scruggs and William Kinney. The adult victims were named as Cynthia Peak, 61, Katherine Koonce, 60, and Mike Hill, 61. Police said the suspect gained entry by shooting through a door at the school. A search of their home led to officers seizing more firearms. The suspect has been identified as 28-year-old Audrey Hale, officers said. There has been some confusion about Hale's gender identity - with police initially describing the attacker as a woman, ...

Nadia Mohammed-First Somali-American Elected Mayor

Two months after making history as America's first Somali-American elected mayor by voters, 27-year-old Nadia Mohamed is sworn in as mayor. Nadia Mohammed  She was sworn in at the city council of St. Louis Park in the US state of Minnesota. Ms Mohamed secured 58% of the vote to win last November's mayoral poll. Nadia Mohammed is the youngest and the first Muslim and black elected mayor in the city, whose family moved to Minnesota from Kenya's Kakuma refugee camp when she was 10, after fleeing war in Somalia. Her family migrated to Kenya after the civil war in Somalia, and she lived in the Kakuma refugee camp until she was about 10. "Well, my identity is one part of my story, right? I am proud of everything that I am, but I don't want that to be the only story. I don't want that to [be] where people stop their conversation," Ms Mohamed told Minneapolis-based KARE TV station after her election. She has listed public safety and affordable housing as some of t...