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

HERMOSA_IMPERIAL- YOUR BEST OPTION!

Introducing your MARKET GENIUS! HERMOSA_IMPERIAL! Hermosa_Imperial, Lagos. A certified Business, that deals in hospitality management, personal shopping, event management and logistics. Just as our name implies, we are Imperial; with a regal bearing and business sense. We have a vast, indepth knowledge of the market place, where to pick your exquisite items from. We are swift, affordable and reliable. You have a need? Think no further, let us surf the market for you. Holla at us! Hermosa_imperial has gone a step further by providing via our YouTube video, an insight of the Lagos metropolitan market. Showing viewers how to surf the major and minor markets in Lagos. The vital marketing strategies that you can use to survive Lagos, reliable online vendors and so much more.   Hermosa_imperial is a MUST stop! We at Hermosa_Imperial cares for you! CONTACT: 0703 8606139. 0704 508 7378. https://m.youtube.com/channel/UCiJSdwFZhDY-D8m1z0m8gfA NOTE: PAID ADVERT .
21 comments
Read more

President Buhari, Federal Government, Donates $1m To Afghanistan

  The Resource Centre for Human Rights & Civic Education (CHRICED) has faulted the Federal Government’s $1 million donations to Afghanistan’s Taliban government, saying the move made no economic sense, according to the Guardian news. The group also condemned the high cost of the nomination form for presidential aspirants by the ruling All Progressives Congress (APC), noting that it would pave way for corruption to subsist. Addressing a press conference on the state of the nation in Abuja yesterday, the group’s Executive Director, Ibrahim Zikirullahi, said such a gift to Afghanistan should not come from a government that claims to be fighting terrorism. Reports had it that the donation was to boost Organisation of Islamic Cooperation’s (OIC) efforts at easing the humanitarian situation in Afghanistan. Zikirullah argued: “That ill-advised donation ignored the fact that the Taliban is led by terrorists, who have no respect for women and have prevented women from attending school. ...
6 comments
Read more

LIFE FACTS-TAKING CARE OF THE ELDERLY. A MUST READ!

• Written by Janet Odidi Obuotor for:    echoblog-ger.blogspot.com Taking Care of The Elderly a MUST! We all have one or more elderly people in our lives. We all hope to grow to a "ripe" old age.  So many prayers, dreams and aspirations for long healthy life.  Let us go practical now, ageing does come with some needed assistance no matter how strong or healthy you are. Who are the elderly? To some, the elderly are people age 65 years and older. Why others feel 60 years is the ideal age to be classified as elderly.  Whatever you consider the ideal age, what is important is making sure that they get the required care and assistance to make them blossom even in old age.  Care for the elderly can feel overwhelming sometimes because a vast majority of us, have no form of experience or training on what to do. We care but we do not know exactly how to express this care in a way that would be of immense benefit to them. Here are a few tips below on ways to take car...
10 comments
Read more