How Nigerians are Reacting to the New Naira Design After 2 Decades


Last month, the governor of the Central Bank of Nigeria, Godwin Emefiele, announced that the Naira would be undergoing some design changes, and asked Nigerians to brace up for an overhaul.

In his announcement, Emefiele noted that the swapping of old notes for new ones would commence as soon as December and the old notes would be completely phased out in 2023.

Keeping in line with the CBN’s directive, it was announced that the president of Nigeria, Muhammadu Buhari, would unveil the new notes.

A few moments ago, the President unveiled the new naira note and Nigerian social media has gone into a frenzy reacting to the new treads.

The new notes compared to the old ones seem to vary in degree of brightness. Asides that, there isn’t much of any change.

The former colours of the old notes were maintained albeit swapped amongst the notes. For example, the new N200 notes seem to be the same colour as the N10 notes, the new N500 notes seem to be the same colour as the N20 notes, and the new N1000 notes bear a striking colour resemblance to the N50 notes.

The new notes also maintained their original dimensions and faces. No new Nigerian figure was added to the notes.

Of course, Nigerians have a lot to say about its new currency and while very few comments are encouraging of CBN’s new move, others cannot get over the change and how odd it appears.

Published on: Business Insider Africa

Publication Date: 23/11/22