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The new naira banknotes will be unveiled by President Muhammadu Buhari on Wednesday, according to Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
Emefiele told journalists at the conclusion of the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday that the unveiling will take place at 10 a.m.
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He stated that it will occur in the Council Chambers at the meeting of the Federal Executive Council (FEC).
The CBN will not extend the January 31, 2023 deadline for the ultimate launch of the new naira notes, according to Emefiele.
The CBN Governor commended Buhari for consistently protecting the central bank, the Senate for its support, and the security services, particularly the EFCC, for ensuring the program’s smooth transfer.
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Emefiele also announced an increase in interest rates to 16.5%, while maintaining all other conditions.
As a result of “tightening rates,” he explained, the CBN’s decision to combat inflation has begun delivering beneficial benefits, hence the increase in interest rates.
