Redesign of the Naira: CBN Introduces Countdown Clock.

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The N200, N500, and N1,000 notes now in use will no longer be legal tender on January 31, 2023, according to a countdown clock posted on the Central Bank of Nigeria’s website.

The Naira redesign strategy, which the apex bank had stated, called for the printing of new notes in the N200, N500, and N1,000 denominations for the three circulating Naira notes.

The formal launch date for the distribution of the new naira notes has been established by the CBN for December 15, 2022.

It said that from December 15, 2022, to January 31, 2023, both the old notes and the new notes will be accepted as legal money.

The highest bank declared that as of January 31, 2023, the old notes would no longer be accepted as legal tender.


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