The Central Bank of Nigeria (CBN) has assured the public that circulation of the newly designed Naira notes will continue to spread as it has continued to take delivery of a good quantity of the banknotes from the Nigeria Security Printing and Minting Company Limited, NSPMC.
The Bank said both the new and old notes would continue to be used as directed, while also restating its commitment to supplying the “approved indent” for the smooth running of the economy.
The CBN’s Acting Director, Corporate Communications Department, Isa AbdulMumin, also, said in a statement in Abuja, that there is no immediate or future plans to dump the redesigned Naira notes from circulation.
The statement was a reaction to a viral news on social media that the apex bank was contemplating the withdrawal of the recently redesigned N1,000 N500 and N200 banknotes from circulation.
He said “we wish to emphatically state that such speculation is unfounded and a ploy by some interests to cause panic among members of the public.
“We, therefore, urge members of the public to disregard any report suggesting a phase-out of the redesigned currency. For the avoidance of doubt, the redesigned and old notes will continue to be accepted as legal tender. They will circulate side-by-side for transactions ahead of the Dec. 31 deadline, when the old N1,000, N500 and N200 banknotes will eventually be phases out,” he said.