Nigerians slam CBN’s decision to redesign 200, 500 & 1000 Naira notes

Reactions have continued to trail the Central Bank’s decision to redesign Nigeria’s three highest denominations, the 200, the 500 and the 1000 Naira notes.

The apex Bank’s governor, Dr. Godwin Emefiele made this known on Wednesday during a special press briefing in Abuja.

According to Emefiele, the action became necessary in order to take control of the currency in circulation.

He added that the change in design and issue will take effect on December 15, 2022.

However, the decision to redesign the three Naira notes has been received with mixed reactions from Nigerians, with many labelling it another white elephant project.

Some gave asked that at this time that Nigeria’s currency is on the free fall against major currencies of the world, is it really necessary to redesign the N200, N500, N1,000 notes at this time?

Nefertiti said on Twitter: https://twitter.com/firstladyship/status/1585324517848760320?t=f6ZmsCodyI1YQTDNKE4Z3Q&s=19

Daniel Regha added, https://twitter.com/DanielRegha/status/1585293639667826688?t=ChO6sZWFVrg6j7EGUVSPOA&s=19

Uncle Wilson said, https://twitter.com/iam_wilsons/status/1585268845681549320?t=jHSQjv-2qTEeFsH3R0exAg&s=19

Tola Joseph mentioned the flood, https://twitter.com/connectwithtola/status/1585272440778792960?t=gw1yJ9tzQcVri0aXeL7_3w&s=19

Aminulah added, https://twitter.com/Aminu_atomCFC/status/1585269015521509377?t=n9ODH4SeQmgdMxAsWAJfjw&s=19

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