President Muhammadu Buhari will unveil the newly redesigned N200, N500, and N1,000 notes on Wednesday.
Central Bank of Nigeria (CBN) Governor Godwin Emefiele stated this at the end of the last Monetary Policy Committee (MPC) meeting in Abuja.
He said Buhari will unveil the new notes by 10 am in the Council Chambers during the Federal Executive Council (FEC) meeting.
Emefiele did not give any reason for bringing forward the unveiling of the new notes from December 15, 2022.
The CBN Governor however said the January 31, 2023 date when the old notes will cease to be legal tender remains unchanged.
For the third consecutive time in 2022, Emefiele announced another interest rate hike to 16.5 percent while retaining other parameters.
The reason for increasing interest rate, he said, is because the previous decision of the CBN to tackle inflation has started yielding positive results with the difference between each inflation figures trending downwards.
According to him: “We feel comforted that the rate of increase in inflation is moderating gradually in Nigeria, for instance between June and July the rate of month on month inflation was 1.82 percent between July and August the rate of month on month inflation was 1.7 percent, between the month of August and September the month on month rate of inflation was 1.3 percent and between September and October the month on month rate of inflation was 1.2 percent”.
The Nation
