Did Nigeria redesign its currency?

Yes, Nigeria has designed its currency.

When will the new naira note be in circulation all over Nigeria?

Thursday, 15th December 2022.

Has the new naira note been launched?

Yes.

Where was the new naira note launched?

It was launched in the Presidential Villa Abuja, moments after the Federal Executive Council (FEC) meeting.

Is there any difference between the new naira notes and the old naira notes?

Yes.

What is the difference between the new naira notes and the old naira notes?

• Colour rebranding
• New security features

Who is the governor of the Central Bank of Nigeria?

Mr. Godwin Emefiele

Were all the Nigerian currencies redesigned?

No.

Which of the currencies were redesigned?

• 200 naira note
• 500 naira note
• 1000 naira note

Did the Central Bank of Nigeria also introduce 2000 naira and 5000 notes?

No.

What does the new 200 naira note look like?

It is red in color.

What does the new 500 naira note look like?

It is green in color.

What does the new 1000 naira note look like?

It is blue in color.

Are the new naira notes beautiful?

Beauty is in the eye of the beholder. If you have seen it, feel free to share your view about the beauty.

Where the pictures in the 200, 500, and 1000 naira banknotes changed?

No. 

Who is on the 200 naira notes?

Alhaji Sir Ahmadu Bello

Who is on the 500 naira notes?

Nnamdi Azikiwe

Who is on the 500 naira notes?

• Alhaji Aliyu Mai Bornu
• Dr. Clement Isong

When was the naira first introduced in Nigeria?

1973

When was the last time naira was redesigned?

19 years ago.

Why did the Central Bank of Nigeria collaborate with the presidency to re-design the naira notes?

• Because its been 19 years since the last design.
• To improve the security of banknotes
• To reduce counterfieting.
• To preserve the collective national heritage.
• To control currency in circulation.
• To reduce the overall cost of importing currency and for effective management.
• To address the hoarding of naira banknotes outside the banking system.
• To stop the shortage of clean and fit banknotes

How many countries in Africa print their own currency?

4 countries- Nigeria, South Africa, Kenya, and Morocco.

What was the naira note not designed before Buhari’s regime?

Lack of political will from the previous administration.

Does the new naira note still have the Arabic inscription?

Yes.

How often will the naira notes be redesigned?

Every 5-8 years.

Where were the 2022 new naira notes produced?

It was produced locally, here in Nigeria by Nigeria security, printing, and minting (NSPM) PLC.

What would happen to my old naira banknotes?

Go and deposit them in the bank.

When will the old naira notes become illegal to use?

By Tuesday, January 31st, 2023.

Reference: Businessday.ng 

Image source: icirnigeria.org