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Governor Godwin Emefiele of Central Bank Of Nigeria has announces an end to the current Naira Notes,saying that the bank has redesign another notes to replace the current ones.
Emefiele who said the existing notes would seize to be regarded as legal tender by January 31, 2023, expresses worry over the availability of the current note, adding that 85 per cent of the currency in circulation is being hoarded by Nigerians
He further urged Nigerians to proceed to their banks to deposit their Naira notes, adding that the deposit fee would be waived for transactions below N150,000.
Emefiele added that the redesigning of Naira notes would help to curb counterfeit notes, as well as hamper ramson payment to terrorists and kidnappers.
