CBN Speaks On Phasing Out Redesigned Naira Notes

The Central Bank of Nigeria (CBN) has distanced itself from reports claiming it is planning to phase out the new design naira banknotes.

The CBN rubbished the report in a statement on Sunday by its Deputy Director, Corporate Communications, Isa Abdulmumin.

In the statement posted on Twitter, CBN claimed that speculation about the withdrawal of the new notes is unfounded and a ploy by some interests to cause panic among members of the public.

The apex bank reiterated that new and old banknotes were circulating side by side, just as the Bank took delivery of a fair amount of redesigned banknotes.


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