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“They Only Changed The Colours To Deceive Us”-Mixed Reactions As Buhari Reveals The New Naira Notes

“They Only Changed The Colours To Deceive Us”-Mixed Reactions As Buhari Reveals The New Naira Notes

President Muhammad Buhari, revealed the new designed Naira Notes as proposed by the Central Bank of Nigeria (CBN).

The CBN Governor, Mr Godwin Emefiele announced on Tuesday that the president will reveal the newly designed N1,000, N500 and N200 notes.

The unveiling today, marks the first time in 19 years, Nigeria will be redesigning it’s currency notes.

At a briefing after the ceremony before the Federal Executive Council meeting, the CBN governor discredit insinuations suggesting that the early unveiling of the new notes is a means to target some Nigerians.

Mr Emefiele appealed to members of the public, asking them to stop making such speculation, adding that that there is no need to perpetuate any such information.

In accordance to him, the CBN will intensify the monitoring process and interrogate the process of withdrawals.

Emefiele maintained that there will be heavy restriction on the volume of cash that people can withdraw over the counter, as it works with the Economic and Financial Crimes Commission (EFCC) to monitor the purpose of any heavy transactions.

The redesigned currency note he claimed can never be counterfeited, adding that to forestall such occurrence, the CBN will redesign the notes after every five to eight years.

Following the unveiling of the new notes which begins circulation today, the CBN governor announced that the apex bank is now more determined to make Nigeria a cashless economy, as in other climes.

During the ceremony that was held before the council meeting, President Buhari mentioned the importance of re-designing the new naira notes. He explained that it will aide the country address the issue of Illicit financial flows, corruption, improve the nation’s economy, as well as ensure and advancement in the value of the naira.

Mentioning that the currency redesign will also boost the CBN’s Monetary policy initiative, President Buhari stated that the first set of currency which was printed locally by the Nigeria printing and minting company, will fundamentally prevent counterfeiting of the naira notes.

The president, however, appealed to Nigerians and urged them to embrace the new policy to re-design the naira.

Reacting to the look of the new notes which has started circulating the internet, some Nigerians are not happy with the ‘changes’ discovered.

Taaooma wrote:

Who colour grades these monies? Abi ink don finish for Printer?

Nikki Laoye wrote:

Is this a joke or ? Because I am genuinely confused! This ain’t real right?

Sam Speedy wrote:

What kind of a country is this?

The_hair_police wrote:

I cant see any difference.

Iamnafizat wrote:

Is this redesign or colour painting?

Be.a.diamond wrote:

They just dey decieve us with colours

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