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The Central Bank of Nigeria (CBN) has announced its plan to redesign the N200, N500, and N1000 naira notes.

CBN boss, Godwin Emefiele, revealed this on Wednesday, October 26, during a press conference in Abuja.

According to Emefiele, President Muhammadu Buhari has approved the redesign, production, and circulation of the Naira notes mentioned above.

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He noted that the new design and issues would be introduced in December 2022.

Emefiele urged Nigerians to go to the bank once the new notes were in effect and exchange the old ones in their possession for the newly designed ones.

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