By Muhammed Abubakar, Reporting
PRESIDENT Muhammadu Buhari of Nigeria has unveiled the redesigned naira denominations of N1000, N500 and N200.
The Redesigned Naira Notes
He performed the ceremony shortly before the commencement of the weekly Federal Executive Council (FEC) meeting inside the Council Chamber of the Presidential Villa, Abuja on Wednesday.
Fielding questions from correspondents after the event, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said the apex bank was determined to make Nigeria a cashless economy.
He said the amount of money that could be withdrawn from the counter would be drastically restricted.
According to him, anyone who wants to withdraw substantial cash would be tracked by security agents to determine its use.
He insisted that the January 31st deadline for the exchange of old naira notes will not be extended.
He noted that there are over one million points in the country where people can deposit their old notes.
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