Foto of Nigeria naira notes wey currently dey in circulation

By Fiona Equere

BBC news, Pidgin

Nigeria central bank officially introduce di newly redesigned naira notes on Thursday, 15, December 2022 across di kontri.

Officials say di new ₦200, ₦500,and ₦1000 notes wey dem introduce go dey very difficult to forge. 

While both di two notes -old and new - go still dey valid for now, Nigerians get until January 31 to exchange dia old naira notes before e expire.

Di notes wey currently dey in circulation na ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, ₦1000.  

Aside dis newly redesigned bank notes, di apex bank also introduce new weekly cash withdrawal limit. 

From January, dem say customers go only fit withdraw a maximum weekly amount of ₦100,000 naira for individuals and ₦500,000 for corporate organisations.

CBN say dem wan reduce di amount of cash wey dey in circulation.

Although many pipo believe say dis new withdrawal limit go affect some politicians wey dey like give cash during campaign and make am more difficult to pay big ransoms to kidnappers too.

E get those too wey tink say di new policy to encourage a cashless economy no too bam as Nigeria no dey ready for am.

How CBN dey circulate currencies for Nigeria?

CBN go carry di finished banknotes from Nigerian Security Printing & Minting (NSPM) Plc for distribution to all CBN branches.  

Na di branch go distribute di banknotes to DMB wey be Deposit Money Bank wia dem go finally release am to di public through withdrawals.

How to exchange your old bank notes

CBN tell kontri pipo to deposit di old bank notes for bank.

Dem say deposits wey dey above ₦150,000 go attract charges.

Banks dey expected to keep dia currency processing centres open from Monday to Saturday.

All commercial banks wey currently get dis denominations of currency fit begin return di notes back to CBN wit immediate effect.

Foto gallery of all Nigeria bank notes wey currently dey in circulation