November 22, 2022

… Hikes monetary policy to 16.5%

President Muhammadu Buhari will on Wednesday unveil the newly designed N1,000, N500 and N200 notes.

This was announced by the governor of Central Bank of Nigeria (CBN), Godwin Emefiele on Tuesday during the apex bank’s Monetary Policy Committee monthly meeting in Abuja.

The CBN MPC also hiked monetary policy to 16.5% from 15.5% while all other parameters remained unchanged.

“One hundred is enough for any person from any part of Nigeria to deposit his money in the bank and get his money when the new notes are released.

“For information, indeed, we are no longer waiting till December 15th to unveil and begin to release the new notes.

“By the special grace of God, tomorrow, which is the 23rd of November 2022, the President has graciously accepted to unveil the new currencies and the new currencies will be unveiled tomorrow at the Federal Executive Chamber by 10am.”

He however noted that the CBN won’t shift its deadline for all old notes to be returned to commercial banks in exchange for newly designed ones.