{"id":427,"date":"2022-11-23T21:58:01","date_gmt":"2022-11-23T20:58:01","guid":{"rendered":"https:\/\/postnigeria.com\/?p=427"},"modified":"2022-11-23T21:58:53","modified_gmt":"2022-11-23T20:58:53","slug":"427","status":"publish","type":"post","link":"https:\/\/postnigeria.com\/2022\/11\/23\/427\/","title":{"rendered":"Buhari unveils Nigeria\u2019s new naira notes"},"content":{"rendered":"\n
The new N200, N500, and N1,000 notes, the largest denominations of the Nigerian currency, were introduced by President Muhammadu Buhari on Wednesday.<\/p>\n\n\n\n
Just before the Federal Executive Council meeting started, the unveiling took place in the Council Chambers of the Presidential Villa in Abuja.<\/p>\n\n\n\n
The introduction of new notes was a planned move by the government, according to Central Bank of Nigeria (CBN) Governor Godwin Emefiele, who spoke at the occasion. This was done to combat corruption and note counterfeiting.<\/p>\n\n\n\n
Emefiele had previously stated in October that N2.73 trillion of the total N3.23 trillion in circulated currency remained outside the nation’s banking system, making it harder for monetary measures to be effective. He also discussed how redesigning the notes would affect security.<\/p>\n\n\n\n