Abolaji Ayodeji
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has disclosed that N200, N500, and N1,000 notes will be redesigned.

Emefiele stated this during a special press briefing in Abuja on Wednesday.

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“To be more specific, as of the end of September 2022, available data at the CBN indicates that N2.7 trillion out of the N3.3 trillion currency in circulation was outside the vault of commercial banks across the country and supposedly held by members of the public.

“Evidently, currency in circulation has more than doubled since 2015, rising from N1.46 trillion in December 2015 to N3.2 trillion as at September 2022. I must say that this is a worrisome trend that must not be continued to be allowed,” he said