The CBN Governor, Godwin Emefiele has announced that President Buhari will launch the new naira notes tomorrow, November 23rd, 2022.
This was disclosed by the CBN governor in his briefing at the monetary policy communique held on November 22nd, 2022. This is ahead of the earlier scheduled date of December 15th, 2022.
Also read: CBN Raises MPR By 100 Basic Points To 16.5%
New Naira Notes: No Going Back
The CBN also revealed that concerning the deadline of the old notes, there is no going back. The date still stands as January 31st. He added that he is relying on their law to push this policy forward.
He also thanked the president for his support over the last seven and a half years. The president has shown his support for the new naira notes policy which he has backed twice in comments to the media.
Highlights From The Event
The CBN governor raised a vote of thanks to different sectors/departments in the country in the concluding part of the event.
- He thanked the president for the support they received from him over the years.
- He thanked security agencies for working with them for monitoring the flows.
- He thanked the senate who besides the pressure has given them support.
He noted that the deadline date will not be shifted, t is in line with the law. Emefiele also revealed that the former deadline, December 15th is no longer valid.
For the new date for the revealing of the new naira notes, the CBN governor said the President will unveil the new notes.
Monetary Policy Committee
It was also recalled that the Central Bank Monetary Policy Committee has voted to increase the benchmark interest rate (MPR) by 100 basis points to 16.5%. This is the highest since 2001.
This was disclosed by the CBN Governor, Godwin Emefiele, while reading the communique of the last MPC meeting of the year on Tuesday, 22nd November 2022.
According to them, the tightening will help restore investors’ confidence whilst keeping in check the higher rate of inflation.
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