President Muhammadu Buhari of Nigeria has launched the newly redesigned 200, 500 and 1,000 Naira notes.

President Muhammadu Buhari unveil the new naira notes at the State House, Abuja, during the federal executive council meeting on Wednesday morning.

Present at the unveiling ceremony included the Central Bank Governor, Godwin Emefiele, Minister of State, Finance, Budget and National Planning, Clement Agba, Managing Director of Nigerian Security, Printing and Minting, Ahmed Halilu, Chairman ICPC, Professor Bolaji Owasanoye and Chairman, EFCC Abdulrasheed Bawa, among other cabinet members and Service Chiefs.

It is observed that the difference between the old currencies and the new ones are majorly colors.

The newly redesigned 200, 500, and 1000 naira notes appeared faint or fade unlike the former ones that looked brighter and sharp.

The distribution of the newly redesigned naira notes will commence mid December, 2022, according to CBN.

The old currencies will seize to be accepted as legal tender effect from January 31, 2023.