CBN is set to redesign N200, N500, and N1,000 notes.

The Central Bank of Nigeria announced its decision to redesign the Naira on Wednesday.

The Governor, Mr. Godwin Emefiele, announced the exercise at a press conference in Abuja, saying it would affect the highest denominations: N200, N500, and N1000 notes.

According to him, the majority of the country’s currency notes were outside bank vaults, and the CBN would not allow this to continue.

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