There’s Enough New Naira Notes – CBN

New Naira Notes

The Central Bank of Nigeria (CBN) has said it has enough new naira notes to replace the old notes.

It noted that following complaints by Nigerians that the redesigned naira notes were not in circulation, it directed banks to load their Automated Teller Machines (ATMs) with the new notes to enable customers to have access to them even when banking halls are closed.




Speaking during a stakeholder sensitisation on the currency redesign at the popular Balogun market, Lagos, the CBN Lagos Branch Controller, Godfrey Koyor, assured that there are enough of the new notes to go round.

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“We are giving everyone the assurance that the new naira notes are available to everyone. We are distributing through the banking system. And as transactions take place, you are going to be having the new ones.

So as people are giving out the old notes, they’ll be receiving the new notes. We have pushed a lot of the redesigned currency notes into circulation and they are going round,” Koyor said.

He assured Nigerians that the new notes are available at the ATMs and the apex bank will support the deposit banks in complying with the directive.

He also said the bank has not extended the January 31 deadline.

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“As I speak with you, the deadline remains sacrosanct and what we are asking the public and the banks to do is to surrender the old notes and take new ones.

“We have enough new notes in supply. Give us the old notes you have in your possession, give it out, deposit it to your bank, let your bank bring it to us and collect new notes. We have enough of the new notes available for every Nigerian and we are supplying it,” he said.

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