Nigeria is one of four of the 54 African nations that print their own money, according to President Muhammadu Buhari.
On November 23, as the Central Bank of Nigeria unveiled the new Naira notes, President Buhari stated it is a thing of pride for Nigeria not to produce its money abroad as many African nations do.
He said, “While this may not be apparent to many Nigerians, only four out of the 54 African countries print their currencies in their countries and Nigeria is one. And majority of African countries print their currencies abroad and import them the way we import other goods.
“That is why it is with immense pride that I announce that these redesigned currencies are locally produced right here in Nigeria by our Security Printing and Minting PLC.”
The redesigned N1000, N500 and N200 notes were unveiled today, November 23rd, by the Central Bank Of Nigeria.
The CBN governor, Godwin Emefiele stated that the old naira notes will no longer be usable from January 31st, and has urged all Naira holders to submit the old notes before the deadline.