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Reactions as Buhari’s introduces new Naira Notes.

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The newly designed Naira Notes as suggested by the of Nigeria were ultimately unveiled by President on Wednesday (CBN).

Reactions as Buhari's introduces new Naira Notes.

Reactions as Buhari’s introduces new Naira Notes.

The newly designed N1,000, N500, and N200 notes will be unveiled by the president, according to CBN Governor Godwin Emefiele, who made the announcement on Tuesday.

Nigeria will revamp its currency notes for the first time in 19 years with today’s launch.

The CBN governor refuted claims made during a briefing held after the event but before the Federal Executive meeting that the early release of the new notes was an attempt to target specific Nigerians.

Mr. Emefiele made an appeal to the public, pleading with them to refrain from making such assumptions and stating that there was no need to spread such rumors.

He claims that the CBN will scrutinize the withdrawal procedure and step up its monitoring efforts.

The amount of cash that can be withdrawn over the counter would be severely limited, according to Emefiele, as it collaborates with the EFCC to keep track of the intentions behind any significant transactions.

He claims that the newly designed currency note cannot ever be counterfeited and adds that the CBN will redesign the notes every five to eight years to prevent this from happening.

The CBN governor declared that the apex bank is now more motivated to turn Nigeria into a cashless economy, as in other countries, following the debut of the new notes that go into circulation today.


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President Buhari stressed the value of redesigning the new naira notes during the event that took place before the meeting. He explained that it will help the government deal with the problem of illicit financial flows, corruption, strengthen the country’s economy, and ensure that the value of the naira advances.

President Buhari said that the first set of currency, which was manufactured domestically by the Nigeria printing and minting company, will essentially prevent the naira from being counterfeited, noting that the currency redesign will also support the CBN’s Monetary policy objective.

The president, however, appealed to Nigerians and urged them to embrace the new policy to re-design the naira.

Reacting to the look of the new notes which has started circulating the internet, some Nigerians are not happy with the ‘changes’ discovered.

Taaooma wrote: Who colour grades these monies? Abi ink don finish for Printer?

Nikki Laoye wrote: Is this a joke or ? Because I am genuinely confused! This ain’ real right?

Sam Speedy wrote: What kind of a country is this?

The_hair_police wrote: I cant see any difference.

Iamnafizat wrote: Is this redesign or colour painting?

Be.a.diamond wrote: They just dey decieve us with colours.

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